Knowledge Marine & Engineering Works Ltd

- No plans for equity dilution in the current year; focus is on debt for expansion if needed. - Currently sitting on cash over INR 50 crores, expected to increase to over INR 80 crores by mid-year. - Capex planned between INR 60 crores to INR 90 crores for fleet expansion (4-8 new vessels). - If all eight dredgers are acquired, the company will take on debt to fund the capex. - Prefer borrowing over equity dilution to finance growth and new assets. - Raised INR 39.60 crores through preferential equity issuance recently, but no immediate future equity fundraising announced.

- Planned capex for FY 2024 is between INR 60 crores to INR 90 crores, depending on contracts secured. - Capex includes investment in cutter suction dredgers and small craft construction as part of contracts. - Expect to add 4 to 8 new assets/vessels during the year, either built in-house (small crafts) or purchased/hired from the market (inland waterway dredging and sand mining). - No investment in shipbuilding for third parties currently due to lower margins; focus remains on own projects or looking for government subsidies. - Capex investments will be debt-funded if needed; plans currently no equity dilution. - Long-term strategic goal to have a fleet size of 50+ vessels in the next decade, expanding capabilities to handle diverse projects. - Exploring tie-ups with large EPC contractors for integrated port and marine projects.

- The company targets a market size of INR10,000 crores per annum and aims to achieve INR1,000 crores in top-line revenue within the next decade. - Plans to expand fleet size from 12 to over 40 assets in the next decade to handle diverse types of dredging work domestically and internationally. - The bid book currently stands at INR1,100 crores with an expected hit rate of over 50%, translating into potential order wins of INR500+ crores. - For FY 2024, revenue guidance is around INR280-300 crores, with INR150 crores expected to be executed from the existing order book and INR130-150 crores from new bids. - Entering new segments like sand mining with multi-year contracts (5 to 20 years), expected to contribute to long-term sustainable revenue. - Margins are projected to remain strong at 30-40% EBITDA, supporting profitable growth.

- The company plans to grow its top line to INR 1,000 crores within the next decade, expanding its fleet to over 40 vessels to handle diverse projects domestically and internationally. - Order book stands at INR 1,100 crores with a hit rate of 50%, expecting to execute INR 130-150 crores in FY24. - EBITDA margins are expected to remain stable between 30% to 40%, with PAT margins at 20% to 25%. - Revenue growth driven by entry into high-value, long-term sand mining contracts (5 to 20 years) both domestically and internationally, providing sustainable revenue visibility. - Margins in new contracts, including government and defense, expected to align with current 30%-40% EBITDA levels. - Cash flows are strong with no immediate equity dilution planned; expansions may be funded by debt if needed. - Overall earnings and profitability to maintain steady growth aligned with the expanding order book and fleet size.

- Current order book stands at INR 202 crores as of April 1, 2023. - The company has bids worth over INR 1,100 crores in the pipeline. - Expected revenue execution from the current order book in FY 2024 is between INR 120 crores to INR 150 crores. - Management targets total revenue of around INR 280 to INR 300 crores for FY 2024, including new orders. - The company maintains a hit rate of over 50% on bids. - Delays in order finalization are due to government decision-making processes, not competition or seasonality. - Orders under consideration include projects in dredging, inland waterways, sand mining, and private defense contracts.