Any current/future new fundraising through debt or equity?

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.

Any current/future capex/capital investment/strategic investment?

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

Future growth expectations in sales/revenue/volumes?

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 bi

Future growth expectations in earnings/operating earnings/profits/EPS?

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

Current/ Expected Orderbook/ Pending Orders?

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, san

Knowledge MarineQ4 FY23Engineering Services

Knowledge Marine Q4 FY23 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹3,094.8P/E: 60.6Market Cap: ₹7.8K CrSector: Engineering Services

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

Yes

Order

Yes

Capex

Yes

3 of 5 growth signals are positive.

Full analysis

Revenue guidance

Category 2

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.

Margin guidance

Category 3

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.

See what Knowledge Marine management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

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.

Order book

Yes

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.

See what Knowledge Marine management said on order book — free account, 30 seconds.

Capex plans

Yes

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.

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What Knowledge Marine's management said in earlier quarters

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