KMEW Expands Patrol Boat Services with New Mumbai Port Order, Serving Key Major Ports of India

Knowledge Marine & Engineering Works Ltd. (KMEW) (BSE: 543273) has been awarded a work order by the Mumbai Port Authority for the hiring of two patrol boats. The contract is for a period of seven years and is valued at ₹19,27,09,393, inclusive of GST (Nineteen Crores Twenty-Seven Lakh Nine Thousand Three Hundred NinetyThree Rupees Only).

The contract entails the deployment of two patrol boats for the use of CISF to provide dedicated security services at Mumbai Port. One of the two patrol boats shall be provided as a multipurpose launch i.e. VIP cum Security launch and the other boat will operate as Security Launch. The VIP cum Security Launch will be designed to transport high-profile individuals while also handling essential security operations, ensuring their safe and efficient movement within the port and maintaining a robust security presence. Additionally, the second patrol boat will be exclusively dedicated to security tasks, focusing on patrolling and monitoring the port's waters to ensure the safety and security of vessels, personnel, and port infrastructure. This deployment will enhance port security and contribute to the safe functioning of Mumbai Port.

India has 12 major ports currently, out of which the company is catering its patrol boat services to 5 ports: Visakhapatnam, Paradip, Tuticorin, New Mangalore, and now Mumbai. The company's strategic positioning and established track record in securing patrol boat contracts with these major ports underscore a significant achievement. This consistent success in delivering top-notch patrol boat services highlights our strong capabilities in meeting the sector's demands effectively. With growing government investments, expanding ports, and new trade developments, the patrol boat sector offers tremendous growth opportunities. These factors will enhance the company's market presence and contribute to further success in this dynamic and evolving industry.

With the recent contract win, the company has proudly secured a second order from the Mumbai Port Authority, underscoring our distinguished history and expertise in the patrol boat segment. This achievement not only reaffirms our reputation but also opens new avenues for expanding our services within the port's ancillary sector. We will develop both patrol boats to meet specific requirements and ensure their deployment at the port within the stipulated timeframe. This success highlights our strong position in the industry and sets the stage for further growth and enhanced service offerings at Mumbai Port.

Commenting on the Work Order, Mr. Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works Ltd said that, "We are pleased to announce a significant achievement-our second major order win from the Mumbai Port Authority for patrol boat services. This milestone highlights the importance of our role in the maritime industry, especially with the government's emphasis on enhancing port efficiency and ancillary services. Currently, KMEW provides patrol boat services across five of India's major ports, further strengthening our market presence. Our ability to offer a diverse range of services under our port ancillary umbrella at these key locations sets us apart from competitors. This achievement underscores our commitment to excellence and timely execution, contributing to our continued success and growth."

Shares of Knowledge Marine & Engineering Works Ltd was last trading in BSE at Rs. 1752.50 as compared to the previous close of Rs. 1791.85. The total number of shares traded during the day was 11750 in over 76 trades.

The stock hit an intraday high of Rs. 1810.00 and intraday low of 1712.75. The net turnover during the day was Rs. 20780143.00.

Source : Equity Bulls

Keywords

KnowledgeMarineandEngineeringWorks INE0CJD01011 KMEW OrderWin MumbaiPortAuthority PatrolBoats