Knowledge Marine & Engineering Works Ltd

Q1 FY27Engineering Services

Knowledge Marine & Engineering Works Ltd Q1 FY27 Results & Concall Highlights: Revenue, Margins & Order Book

Q1 FY27 earnings call: what management guided on revenue, margins and order book.

Price₹2,952

Market cap₹6.9K Cr

P/E53.4

Updated2 Sept 2026

Read4 min read

What the Q1 FY27 call signalled

3 of 4 strong

RevenueRank 1

MarginRank 3

CapexYes

Order bookYes

Not discussed on this call: fundraise.

The short version

Targeting INR 1,000 crores top line by FY29 with a diversified revenue mix: 45-50% from dredging, 40-45% from shipbuilding, and 5-10% from chartering. FY27 started strong with Q1 revenue growth of 138% YoY and EBITDA margin around 64%.

From Knowledge Marine & Engineering Works Ltd's Q1 FY27 earnings-call transcript · updated 2 Sept 2026.

Revenue & Sales Performance

Rank 1

Targeting INR 1,000 crores top line by FY29 with a diversified revenue mix: 45-50% from dredging, 40-45% from shipbuilding, and 5-10% from chartering.
Significant scaling of dredging volumes expected through fleet expansion with larger capacity dredgers to handle higher volumes and more complex contracts.
Shipbuilding business anticipated to scale notably from Q4 FY27 with Phase 1 of Saphale shipyard becoming operational, enabling construction of specialized marine crafts, dredgers, green and hybrid vessels.
Bid pipeline in dredging is robust at INR 1,200 crores, with outcomes expected in the next 30-45 days, supporting revenue growth over the next 3 years.
Exploring export opportunities, mainly in Europe, contingent on favorable finance and contract terms.
Overall margin expansion expected with increasing dredging volumes and post-subsidy shipbuilding margins exceeding 35%.

Profitability & Margins

FY27 started strong with Q1 revenue growth of 138% YoY and EBITDA margin around 64%.
EBITDA expected to expand significantly due to volume growth in dredging and shipbuilding.
PAT margin guidance is 25%-30% long term, though Q1 saw a high 54% PAT margin, not expected to persist every quarter.
Targeting INR 1,000 crores revenue by FY29, driven by dredging (~45-50%), shipbuilding (~40-45%), and chartering (~5%).
Operating margins across segments expected to remain between 35%-40%, with dredging margins expanding as volume grows.
Strong order book and bid pipeline support revenue and earnings growth in next 2-3 years.
Shipbuilding business expected to scale from late FY27, improving earnings diversity.
Long-term contracts, like Green Tug chartering, provide stable recurring cash flow and profit visibility.
Overall focus on converting order book and pipeline into sustained profitable growth.

See what Knowledge Marine & Engineering Works Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Yes

Knowledge Marine & Engineering Works Limited is undergoing a total capex of approximately INR 1,000 crores over the next 1.5 years.
Capex allocation includes around INR 450 crores towards dredging business expansion, focusing on acquiring larger capacity dredgers (5,000 to 7,000 cubic meters) to address bigger maintenance and capital dredging markets.
Approximately INR 250 crores is allocated for the construction of Green Tugs and green vessels.
The remaining amount is invested in developing the shipbuilding business and creation of the Saphale shipyard, with Phase I expected to be operational by FY27 end.
The capex aims to expand fleet size and capability, scale shipbuilding capacity, and participate in larger value and technically demanding contracts.
The company is preparing to bid for defense and export orders, indicating strategic investments to diversify revenue streams.
No additional loans for working capital are expected since contracts have stage payments, but interest subvention schemes for loans on Green Tug operations may be utilized.

Fundraising & Capital Structure

The company is currently fully capitalized to achieve its near-future turnover target of INR 1,000 crores by FY29.
Promoters are comfortable maintaining their stake above 50%, with no immediate plans for further dilution.
Cash flows generated from operations are expected to support future growth, reducing the need for additional equity raises.
The company does not require loans for executing shipbuilding contracts due to stage payments received from clients.
Interest subvention of up to 3% is available for any loans taken for Green Tug construction under relevant schemes.
Overall, no specific current or immediate plans for new fundraising through debt or equity were indicated.

See what Knowledge Marine & Engineering Works Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Yes

Current order book: Over INR 1,300 crores
- INR 240 crores in dredging (8 contracts)
- INR 850 crores in charter and hire (15 contracts)
- INR 240 crores in shipbuilding (4 contracts)
- Excludes INR 200 crores intercompany orders from Knowledge Marine to Knowledge Shipyard
Bid pipeline: Approximately INR 3,500+ crores
- Dredging: INR 1,200+ crores
- Charter and hire: INR 1,100+ crores
- Shipbuilding: INR 1,400+ crores
Expect to execute around INR 200 crores from dredging order book in FY27.
Bid results expected in next 30-45 days, particularly for dredging contracts.
Shipbuilding is gearing up with Phase 1 of the Saphale shipyard becoming operational by end FY27 and active bids underway.

Knowledge Marine & Engineering Works Ltd — Quarterly revenue & net profit

Revenue Net profit

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Reported quarterly figures (₹ Cr). Latest: revenue ₹90 Cr, net profit ₹33 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What Knowledge Marine & Engineering Works Ltd's management said in earlier quarters

Compare:vs Dredging Corporation of India Ltd

🔎 Who's planning the most growth?

Companies ranked by management's own guidance — revenue, margins, capex and order book, from every earnings call in India.

See rankings →

Frequently Asked Questions

What were Knowledge Marine & Engineering Works Ltd Q1 FY27 results?

What is Knowledge Marine & Engineering Works Ltd share price analysis?

Knowledge Marine & Engineering Works Ltd currently shows a strong growth signal based on ranking data. The stock trades at a P/E of 53.4 with a market cap of ₹6,913 Cr. Investors should review the full earnings analysis for detailed insights.

Is Knowledge Marine & Engineering Works Ltd planning capital expenditure?

Knowledge Marine & Engineering Works Limited is undergoing a total capex of approximately INR 1,000 crores over the next 1.5 years.

Keep Knowledge Marine & Engineering Works Ltd on your radar — track it to get its next earnings analysis in your feed.

This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.