Ashish Kacholia Stock, specializing in providing marine engineering and consultancy services, is in focus upon receiving a work order for ~Rs. 48.45 crores from Dredging Corporation of India (NSE:DRDG) Limited.
Price action
With a market capitalization of Rs. 2,174.03 crores on Thursday, the shares of Knowledge Marine & Engineering Works Ltd (BO:KNOW) rose upto 0.65 percent making a high of Rs. 2039.90 per share compared to its previous closing price of Rs. 2064.20 per share.
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What Happened
Knowledge Marine & Engineering Works Ltd specializing in providing marine engineering and consultancy services has received a domestic work order from Dredging Corporation of India Limited (DCIL) for approximately Rs. 48.45 crores.
The order is for dredging operations at Deendayal Port, which involves chartering a Trailing Suction Hopper Dredger (TSHD) for dredging in the navigational channel, Kandla Creek, and oil jetties and cargo berths. The contract duration is set for one year and extension upon mutual agreement, which if exercised, could result in a total potential order value of Rs. 96.91 crores.
KMEW secured a 10 percent stake in the key Deendayal Port Dredging Project, as a part of the Rs. 409 crore dredging initiative. The company’s proven expertise and fleet deployment capabilities will ensure the efficient execution of the project, reinforcing KMEW’s position as a trusted partner in large-scale dredging operations at critical ports like Deendayal.
Ace Investor
The ace investor Ashish Kacholia holds 3,00,000 equity shares of the company, which constitute 2.78 percent.
Management Commentary
Mr. Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works Ltd said: This latest contract win further strengthens our presence at Deendayal Port and underscores the trust placed in us by the Dredging Corporation of India (DCI). Our consistent success in securing such projects highlights our operational excellence and dedication to enhancing India’s maritime infrastructure.
As part of our expansion strategy, we have already deployed a Trailing Suction Hopper Dredger (TSHD) on the eastern coast, and with ongoing developments on the western coast, we are on track to deploy more TSHDs with increased capacity. This marks our fifth order win from DCI, bringing our current order book from DCI to Rs. 97.11 crore. Additionally, our total order book now stands at Rs.1,081 crore, reinforcing our strong growth trajectory and long-term business sustainability.
About the Company
Knowledge Marine & Engineering Works Ltd is engaged in owning and operating Marine Crafts, dredging, repair, and maintenance/refits of Marine Crafts and Marine Infrastructure. The Company provides multiple solutions for marine engineering including dredging at various ports, carrying out repair and refit services for naval and merchant ships, conducting hydrographic and magnetometer surveys, and technical solutions for maintenance and operations of vessels.
Written by Sridhar J
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The post Ashish Kacholia stock in focus after receiving order worth ₹48 Cr from Dredging Corporation of India appeared first on Trade Brains.
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