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Bahrain operations on hold indefinitely
View Risks →Knowledge Marine & Engineering Works Ltd — Q3 FY26
Knowledge Marine delivered a standout Q3 FY26 with revenue of ₹90 crore (up 56% YoY), EBITDA margin of 43%, and PAT of ₹32.89 crore (34% margin).
bullish
high
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Knowledge Marine delivered a standout Q3 FY26 with revenue of ₹90 crore (up 56% YoY), EBITDA margin of 43%, and PAT of ₹32.89 crore (34% margin). The quarter benefited from scaling efficiencies, improved realizations, and strong demand across dredging, charter hire, and shipbuilding. The order book stands at ₹1,500 crore, with a bid pipeline exceeding ₹3,000 crore, driven by inland waterway expansion and green tug contracts. Management guided that the tonnage tax regime will reduce effective tax to less than 1% of turnover, boosting net margins. Fleet utilization is at 100%, and the company raised ₹285 crore via preferential issue to fund capex. Key risk: execution delays if vessel acquisition for new contracts is slower than anticipated.
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Order Book
₹1,500 crore
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Includes dredging ₹409 cr, charter hire ₹863 cr, shipbuilding ₹230 cr.
Bid Pipeline
₹3,000+ crore
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Dredging ₹1,400 cr, chartering ₹1,000 cr, shipbuilding ₹704 cr.
Fleet Size
45 crafts
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16 dredges, 3 hopper barges, 11 support vessels, 15 portillary crafts.
Green Tug Contract Value
₹700 crore
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Long-term orders from Vishakapatnam and VOCC ports for 60-ton bollard pull tugs over 15 years.
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Guidance and risk preview
Company has opted for tonnage tax scheme, significantly lowering tax burden from Q3 FY26 onwards.
Vessel redeployed to India; no timeline for resuming Bahrain operations as suitable replacement vessel not yet identified.
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