Knowledge Marine & Engineering Works Limited ("KMEW") has made a regulatory disclosure pursuant to SEBI Listing Regulations Regulation 30 regarding receipt of a significant work order.

Contract Details

KMEW, in consortium with its subsidiary Knowledge Shipyard Private Limited (KSPL) where KSPL acts as the Lead Partner, has been awarded a contract by Inland Waterways Authority of India (IWAI), under the Ministry of Ports, Shipping and Waterways, Government of India.

The scope of work includes Design, Construction, Supply, Testing and Commissioning of 10 Hybrid Electric Passenger Ferries, each with a capacity of 20 passengers, along with a maintenance and support commitment for these ferries.

Financial Value

The total contract value is ₹66.11 Crores (Rupees Sixty-Six Crores and Eleven Lakhs) including applicable taxes. This amount is broken down as:

  • ₹65.52 Crores including taxes for the construction of the ferries
  • ₹0.59 Crores including taxes for the maintenance and support component

Execution Timeline

The Design, Construction, Supply, Testing and Commissioning must be completed within 10 months from receipt of the work order. This is followed by a 60-month (5-year) maintenance and support commitment period for the ferries.

Strategic Significance

This contract represents the first external commercial shipbuilding order secured by Knowledge Shipyard Private Limited (KSPL), validating the group's investments in creating a dedicated shipbuilding platform. The management notes that this project will consume less than 5% of the shipyard's capacity and resources.

The award is aligned with the Government of India's Harit Nauka – Inland Vessels Green Transition Guidelines and represents KMEW's strategic entry into India's green shipbuilding segment, broadening its business portfolio from marine services and vessel operations into integrated maritime infrastructure.

Additional Information

As per the annexure to the disclosure:

  • The awarding entity is a domestic entity (Inland Waterways Authority of India)
  • The order does not involve any interest from promoters/promoter group/group companies in the entity awarding the contract
  • The contract does not qualify as a related party transaction

The disclosure was signed by Avdhoot Ajay Kotwal, Company Secretary & Compliance Officer, on June 20, 2026.