KMEW Debuts with New Mangalore Port Authority, Introducing Advanced RSV Type 4 Patrol Boat

Knowledge Marine & Engineering Works Ltd. (KMEW) (BSE: 543273) has been awarded a work order by the New Mangalore Port Authority for the hiring of one RSV Type IV Security Patrol Boat with a speed of not less than 25 knots. The contract is for a period of five years and is valued at ₹9,69,51,470 (Nine Crores Sixty-Nine Lakh Fifty-One Thousand Four Hundred Seventy Rupees Only).

The recent contract win represents a significant achievement for KMEW on multiple fronts. Notably, it marks the company's first contract with the New Mangalore Port Authority. This success further strengthens KMEW's presence in the southern region of India, adding to its previous accomplishment with the V.O. Chidambaranar Port, and making it the second major contract win in this strategic area. A particularly impressive aspect of this contract is that it signifies KMEW's debut in providing high-speed patrol boats capable of reaching speeds of 25 knots or more, a notable upgrade from their previous contracts for boats with speeds of up to 20 knots. This advancement highlights a substantial enhancement in KMEW's technical capabilities and product offerings.

The scope of work includes the supply, manning, operation, and maintenance of a patrol boat, which will be manned and operational 24/7 for patrolling duties under the direction of the CISF. The boat must be maintained in accordance with Class requirements throughout the contract period, ensuring it remains in optimal condition for continuous and effective operation.

A River-Sea Vessel (RSV) Type 4 Patrol Boat is a versatile maritime vessel engineered for effective operation in both riverine environments and coastal sea areas. With high speeds often exceeding 25 knots, these vessels are essential for rapid response missions, surveillance, and intercepting threats across large areas. The introduction of a River-Sea Vessel (RSV) Type 4 Patrol Boat, with speeds exceeding 25 knots, offers KMEW a significant competitive advantage by enhancing its capabilities beyond the current patrol boats operating at 20 knots. The ability to provide higher-speed vessels not only broadens KMEW's market reach but also strengthens its position as a leader in the maritime security sector, potentially leading to more lucrative contracts and greater industry recognition.

Following the contract win, the company plans to deploy the boat ahead of schedule to initiate operations promptly. The boat's versatility allows it to be effectively utilized in a variety of environments, including rivers, coastal waters, and open seas. This flexibility enhances the company's ability to adapt to different operational needs and locations, ensuring efficient and timely deployment across diverse maritime settings.

Commenting on the Work Order, Mr Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works Ltd said that, "We are thrilled to announce our ongoing expansion into the southern region of India, highlighted by the successful acquisition of our first contract from V.O. Chidambaranar Port and now from the New Mangalore Port Auhtority. This recent win further cements our commitment to growing our presence in southern India, expanding our relationships with existing customers, and establishing new ties with key ports. As we enter FY25, our focus has been on diversifying our maritime orders, and the acquisition of the RSV Type IV Patrol Boat contract marks a significant milestone as our first venture into this type of vessel. This achievement not only showcases our advanced capabilities but also positions us ahead of our competitors by building a varied order book. This strategic approach strengthens our position in the maritime industry, positioning us to capitalize on emerging opportunities in the coming years."

Shares of Knowledge Marine & Engineering Works Ltd was last trading in BSE at Rs. 1252.70 as compared to the previous close of Rs. 1170.10. The total number of shares traded during the day was 15750 in over 116 trades.

The stock hit an intraday high of Rs. 1260.00 and intraday low of 1170.00. The net turnover during the day was Rs. 19305737.00.

Source : Equity Bulls

Keywords

KnowledgeMarineandEngineeringWorks INE0CJD01011 OrderWin NewMangalorePortAuthority