In , Knowledge Marine & Engineering Works Ltd (Shipping) is outperforming Nifty 500 with +25.1% relative strength. Fundamentals: Average.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q3 FY26 earnings • Updated Apr 18, 2026
What: Order Book: INR 1,500 Crores
“Order book of the Company as on date stands at INR1,500 crores, out of which, dredging order book is INR409 crores, charter hire order book INR863 crores.”
What: Vessel Utilisation: 100%
Impact: 43% EBITDA Margin
“It's 100% utilized. None of our equipment is idle as on date.”
What: Tax Rate: < 1% of turnover
Impact: Significant PAT boost
“We have chosen to fall under the tonnage tax scheme... our application has been accepted.”
What: Bahrain Project: Active exploration
“We are currently actively looking for a vessel in the market to place it in Bahrain and start the business.”
What: Cruise Services: INR 800 Cr visibility
“KMEW has entered the Maritime Tourism sector with a prestigious MP Tourism project to build and operate a luxury cruise ship on River Narmada.”
What: EBITDA Margin of 43% vs 40% guidance
“EBITDA stood at INR38.54 crores with a margin of 43%, reflecting a strong improvement in operating efficiency.”
Earnings deceleration risks from management commentary
Trigger: Revenue was booked heavily in August and September, and Bahrain receivables were higher than Indian ones.
Management view: Expect receivable days to reduce to 30-45 days going forward.
Monitor: logistics
Trigger: The scheme requires specific training and compliance certificates from the Income Tax Department.
Management view: Management has already had their application accepted and is following the required training protocols.
Monitor: regulatory
Key quotes from recent conference calls
“Sustainable EBITDA Margins of ~ 40% and PAT Margins of ~24% [Previous EBITDA Margin guidance]”
“The guidance would be anywhere between less than 1% of the turnover as the total tax implication. That is what we believe it is going to be. [Initiative: Tonnage Tax Scheme Transition]”
“We believe that we can reach a top line of between INR500 crores to INR700 crores with the facility 3 years down the line. [Initiative: Shipyard Creation]”
“We entered the commercial shipbuilding segment, securing orders worth over INR230 crores from Inland Waterways Authority of India... to be executed over a period of 2 years. [Initiative: Commercial Shipbuilding Entry]”
Headline numbers from the latest earnings call
Revenue
INR 90 Crores
Why: The sharp improvement reflects scaling efficiencies from expansion initiatives, improved realizations, and stronger market demand across key segments.
Revenue growth was driven by the execution of a growing order book and new commercial shipbuilding entries.
EBITDA
INR 38.54 Crores
Why: Strong improvement in operating efficiency and scaling efficiencies from expansion initiatives.
The 43% margin represents a significant improvement in operating leverage.
PAT
INR 32.89 Crores
Why: Expansion initiatives and a growing order book began contributing meaningfully to revenue and profitability.
Profitability was enhanced by improved operating leverage and the transition to a lower tax regime.
Other Highlights
• Raised INR 285 Crores through preferential issue of equity shares and warrants for fleet expansion.
• Subdivided shares from INR 10 to INR 5 effective December 22, 2025, to improve liquidity.
• Successfully transitioned to the tonnage tax scheme, reducing effective tax to less than 1% of turnover.
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Total Order Book
INR 1,500 Cr
Why: Driven by new wins in shipbuilding and long-term green tug contracts.
Fleet Utilisation
100%
Why: All equipment is gainfully deployed across various projects.
Bids in Pipeline
INR 3,000 Cr
Why: Reflects massive opportunities in dredging, chartering, and shipbuilding.
Total Crafts Owned/Operated
45
Why: Expansion of fleet to meet growing project demands.
Dredging Order Book
INR 409 Cr
Why: Core business segment maintaining steady order flow.
Charter Hire Order Book
INR 863 Cr
Why: Includes high-value long-term green tug contracts.
Shipbuilding Order Book
INR 230 Cr
Why: New segment entry with orders from IWAI.
Receivable Days
45-60 days
Why: Timing of revenue booking in August/September and Bahrain book impact.
Debt Outstanding
INR 166 Cr
Why: Used for asset acquisition and working capital.
Fixed Assets
INR 207 Cr
Why: Reflects the company's investment in its fleet.
Forward-looking targets from management for Future
OPM Guidance
43%
Capex Plan
₹183 Cr
Benchmark going forward
INR 183 Crores
Fleet expansion and projects in hand
Guidance Changes
Tax Rate: Standard Corporate Tax → < 1% of turnover
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +55% | +49% | Stable |
| PAT (Net Profit) | +106% | +34% | Stable |
| OPM | 43.0% | 0 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Knowledge Marine & Engineering Works Ltd's latest quarterly results (Dec 2025) show
Knowledge Marine & Engineering Works Ltd's profit is growing with an stable trend.
Knowledge Marine & Engineering Works Ltd's revenue growth trend is stable.
Knowledge Marine & Engineering Works Ltd's operating margin is volatile.
Knowledge Marine & Engineering Works Ltd's long-term compounding rates
Knowledge Marine & Engineering Works Ltd's earnings growth is stable with improving on a sequential basis.
Knowledge Marine & Engineering Works Ltd's trailing twelve month (TTM) performance
Knowledge Marine & Engineering Works Ltd appears significantly overvalued based on our fair value analysis.
Knowledge Marine & Engineering Works Ltd's current PE ratio is 81.5x.
Knowledge Marine & Engineering Works Ltd's current PE is 81.5x.
Knowledge Marine & Engineering Works Ltd's price-to-book ratio is 21.7x.
Knowledge Marine & Engineering Works Ltd is rated Average with a fundamental score of 50/100. This score is calculated from objective financial metrics
Knowledge Marine & Engineering Works Ltd has a debt-to-equity ratio of N/A.
Knowledge Marine & Engineering Works Ltd's return ratios over recent years
Knowledge Marine & Engineering Works Ltd's operating cash flow is positive (FY2025).
Knowledge Marine & Engineering Works Ltd currently does not pay a significant dividend (yield 0.00%).
Knowledge Marine & Engineering Works Ltd's shareholding pattern (Mar 2026)
Knowledge Marine & Engineering Works Ltd's promoter holding has remained stable recently.
Knowledge Marine & Engineering Works Ltd has been outperforming Nifty 500 for 1 consecutive week, indicating early-stage outperformance.
Knowledge Marine & Engineering Works Ltd is a re-entry — it briefly dropped off the outperformance list but has now returned. Re-entries can signal renewed strength.
Knowledge Marine & Engineering Works Ltd has 6 key growth catalysts identified from recent earnings analysis
Knowledge Marine & Engineering Works Ltd has 2 key risks worth monitoring
In Q3 FY26, Knowledge Marine & Engineering Works Ltd's management highlighted
Knowledge Marine & Engineering Works Ltd's management has provided the following forward guidance for Future
Knowledge Marine & Engineering Works Ltd's most important sub-sector-specific KPIs from the latest concall
Based on quantitative research signals, here is why Knowledge Marine & Engineering Works Ltd may be worth studying
Knowledge Marine & Engineering Works Ltd investment thesis summary:
Knowledge Marine & Engineering Works Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
