KMEW Secures ₹66 Crore Hybrid Ferry Order, Expands into Green Shipbuilding

Knowledge Marine & Engineering Works Ltd ($KMEW) has marked a significant milestone by securing its first external commercial shipbuilding contract and entering the green shipbuilding segment. Along with its subsidiary, Knowledge Shipyard Ltd. (KSPL), the company has received a ₹66.11 crore order from the Inland Waterways Authority of India (IWAI) to design, construct, supply, test and commission 10 hybrid electric passenger ferries, each with a capacity of 20 passengers. The contract includes ₹65.52 crore for ferry construction and ₹0.59 crore for maintenance and support, with deliveries scheduled over the next 10 months followed by a five-year maintenance commitment. The project supports India’s focus on sustainable inland water transport and strengthens KMEW’s capabilities in hybrid and electric vessel manufacturing, further advancing its transformation from a marine services company into an integrated maritime infrastructure and shipbuilding player. Meanwhile, institutional interest in the company remained strong, with SBI Funds Management acquiring nearly 4 lakh shares, representing a 1.64% stake, for around ₹79 crore at ₹1,963.17 per share. At the same time, promoters Kanak Kewalramani and Dinesh Kewalramani sold 5.13 lakh shares through a block deal, raising approximately ₹101 crore at an average price of ₹1,962.35 per share. The developments highlight KMEW’s growing presence in sustainable maritime infrastructure and its potential to capitalize on future opportunities in green vessel manufacturing. Disclaimer: This post is for informational purposes only and not a recommendation to buy or sell any securities. I, or my family, associates, or relatives, may have a financial interest in the securities mentioned.