Knowledge Marine & Engineering Works Ltd. (KMEW) witnessed strong buying interest in early trade on June 22 after announcing a major order win through a consortium led by its subsidiary, Knowledge Shipyard Private Limited (KSPL).
The consortium has been awarded a contract by the Inland Waterways Authority of India (IWAI), operating under the Ministry of Ports, Shipping and Waterways, for the design, construction, supply, testing and commissioning of 10 hybrid electric passenger ferries. Each ferry will have a seating capacity of 20 passengers and is aimed at supporting sustainable inland water transport initiatives across the country.
The total contract value stands at ₹66.11 crore, including taxes. Out of this, ₹65.52 crore has been earmarked for the construction of the vessels, while ₹0.59 crore relates to maintenance and support services.
According to the company, the ferry construction project is expected to be completed within 10 months. Following delivery, the consortium will provide maintenance and support services for a period of 60 months, creating a long-term engagement with the government agency.
The company highlighted that this is the first external commercial shipbuilding order secured by Knowledge Shipyard Private Limited. Management believes the project validates its investments in developing a dedicated shipbuilding platform and strengthens its position in India's growing inland waterways and marine infrastructure sector.
The order also aligns with the government's push towards greener transportation solutions and the modernization of inland waterway networks through the deployment of hybrid electric vessels.
Following the announcement, KMEW shares rallied more than 8% in early trading, reflecting positive investor sentiment towards the company's expanding order book and growing presence in the maritime infrastructure segment.