Knowledge Marine & Engineering Works LimitedLogistics & TransportationKMEW
Q1 FY27 concall · earnings callKnowledge Marine & Engineering Works Limited
Knowledge Marine started FY27 with explosive growth driven by high-margin dredging project execution, raised its full-year revenue guidance, and is investing heavily to scale its dredging fleet and shipbuilding platform.
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Revenue from Operations | ₹115.41 Cr | 138% | |
| EBITDA | ₹73.41 Cr | 258% | |
| Profit After Tax | ₹62.75 Cr | 466% |
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹57.61 Cr— YoY-39.8% QoQ | ₹15.62 Cr— YoY-33.4% QoQ | ₹14.77— YoY-30.2% QoQ |
| Q2 FY25 | ₹95.62 Cr— YoY— QoQ | ₹23.47 Cr— YoY— QoQ | ₹21.17— YoY— QoQ |
- Revenue grew 138% YoY to INR115.41 Cr, PAT surged 466% to INR62.75 Cr with a 64% EBITDA margin.
- Performance driven by execution of two key dredging projects at JNPA and Pondicherry port.
- Order book stands at over INR1,300 Cr with a bid pipeline of INR3,500+ Cr.
- Growth guidance raised to 'northwards of 60%' for FY27 from earlier 30-40%.
- Capex of ~INR1,000 Cr planned over next 1.5 years for dredgers, Green Tugs, and shipyard expansion.
- Shipbuilding expected to scale from Q4 FY27, targeting a revenue mix of 40-45% in 2-3 years.
“Our responsibility now is to convert these opportunities into execution, execution into sustainable value and sustainable value into limitless growth.”
| Topic | What management said |
|---|---|
| Revenue Growth Guidance | Management raised growth guidance to 'potential in northwards of 60%' for FY27 from earlier 30-40%. |
| Order Book Execution | Out of INR240 crore dredging order book, INR200 crore is expected to be executed in FY27, with potential for more from a INR1,200+ crore bid pipeline. |
| Margin Superiority vs. DCI | Attributed better margins vs DCI to newer, more efficient equipment and better asset utilization. |
| Capital Expenditure Plans | Expected capex of INR1,000 crores over next 1.5 years, split ~INR450 crores for dredging, ~INR250 crores for Green Tugs/vessels, and the balance for shipyard/shipbuilding. |
| Future Segment Mix & Margins | Forecasted revenue mix in 2-3 years: dredging 45-50%, shipbuilding 40-45%, chartering 5%. Shipbuilding margins post-subsidy expected to exceed 35%. |
| Business Sustainability | Addressed sustainability concerns, stating dredging is a perpetual government responsibility and private port privatization does not threaten near-term business model. |
| Shipyard Progress | Expect Phase 1 of Saphale shipyard to be operational by end of FY27, with capacity to deliver 14 vessels. |
| Export Potential | Exploring export opportunities, pending comfort with payment terms compared to domestic orders. |
- Growth guidance updated to 'potential in northwards of 60%' for the current year from earlier 30% to 40%
- EBITDA margin guidance remains between 35% to 40%
- Expect shipbuilding business to scale significantly from Q4 FY27
- Targeting a top line of INR1,000 crores in FY29
Summary written from the transcript filed by Knowledge Marine & Engineering Works Limited for the call held on 26 Aug 2026; published 3 Sept 2026, 10:51 IST.
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