Knowledge Marine & Engineering Works secures ₹19.27-crore contract from Mumbai Port, stocks rally 

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Knowledge Marine & Engineering Works Ltd (KMEW) has won a ₹19.27-crore contract from the Mumbai Port Authority for two patrol boats, the company announced today. Under the seven-year agreement, the company will supply high-speed vessels for security and VIP transport within the port area.

The shares of Knowledge Marine & Engineering Works Ltd (KMEW) were trading at ₹1,819, up by ₹66.50 or 3.79 per cent, on the BSE today at 12.35 pm.

This marks KMEW’s second major order from Mumbai Port, expanding its presence to five of India’s 12 major ports. The company will provide one multipurpose VIP and security launch, alongside a dedicated security vessel.

KMEW CEO Sujay Kewalramani said, “This milestone highlights the importance of our role in the maritime industry, especially with the government’s emphasis on enhancing port efficiency and ancillary services. Our ability to offer a range of services under our port ancillary umbrella at these key locations sets us apart from competitors. This achievement underscores our commitment to excellence and timely execution, contributing to our continued success and growth.”

KMEW specialises in marine craft operations, dredging, and ship repair. The firm has an existing order book from various Indian port trusts and government entities.