Knowledge Marine bags work order for Rs 96 crore

Knowledge Marine & Engineering Works announced that it has received a work order by V.O. Chidambaranar Port for a value of Rs 96.25 crore.

The contract includes supply, manning, operation, and maintenance of one 60T bollard pull and above highly manoeuvrable azimuth stern drive (ASD) tug on a charter basis. The contract is valued at Rs 96.25 crore for a period of seven years.

These tugs are used for controlling the vessels in confined port spaces for towing, pulling or pushing of capsize vessels of 80,000 tons and above for safe berthing and unberthing operations.

The company will deploy a newly constructed 60-ton bollard pull ASD tug to execute the contract. The tug will be designed and built to meet advanced technical standards and will be mobilized within the stipulated timeframe to ensure timely project execution.

 

Sujay Kewalramani, CEO, said This is a significant achievement for KMEW wherein we have secured our maiden contract for supply of 60-ton bollard pull (ASD) tug. This marks a key milestone in our growth and capacity expansion. Today, the port sector requires more than 100 such tugs. With the award of this contract, we are now poised and qualified to cater to this requirement.

Knowledge Marine & Engineering Works is engaged in providing dredging services, owning and operating marine craft, and repairing, maintaining, and refitting marine crafts and marine infrastructure. Its head office is in Mumbai, and operations are spread across major ports in the country through branch offices in Kolkata, Vishakapatnam, Kandla, Vadinar and Sittwe, Myanmar.

On a full-year basis, the companys consolidated net profit declined 35.1% to Rs 30.53 crore on 18.8% decline in net sales to Rs 163.58 crore in FY24 over FY23.

The scrip declined 1.48% to currently trade at Rs 2,335.05 on the BSE.

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