KMEW Q3 FY26: Revenue Surges 56% YoY to ₹90 Cr; Secures ₹700 Cr Tug Contracts
KMEW reported Q3 FY26 revenue of ₹90 crore, a 56% YoY increase. The company secured ₹700 crore in green tug contracts and ₹230 crore in shipbuilding orders. KMEW raised ₹285 crore via preferential issue for fleet expansion and adopted the tonnage tax scheme, expecting tax below 1% of turnover. Fleet utilization is at 100%.
The substantial increase in revenue, new large-value contracts, capital infusion, and positive future outlook, including strategic investments and tax benefits, are expected to have a significant positive impact on the company's financial performance and market position.
The company reported strong year-on-year and quarter-on-quarter growth in revenue and profits, secured significant new orders, and successfully raised capital, all indicating a positive financial and operational outlook.
Knowledge Marine & Engineering Works Limited (KMEW) announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The company reported a strong Q3 FY26 performance, with revenue increasing by 56% year-on-year and 79% quarter-on-quarter to ₹90 crore. EBITDA stood at ₹38.54 crore, a margin of 43%, while profit after tax was ₹32.89 crore, with a margin of 34%.
Operationally, KMEW entered the commercial shipbuilding segment, securing orders worth over ₹230 crore from the Inland Waterways Authority of India for various boats, to be executed over two years. Additionally, the company received significant long-term orders from Vishakhapatnam Port and VOC Port for the construction and chartering of 60-tonne bollard pull green tugs, valued at approximately ₹700 crore, with a 15-year execution period. A specialized capital dredging contract at JNPT port, valued at ₹50 crore, is also to be executed over six months.
During the quarter, KMEW raised ₹285 crore through a preferential issue, primarily for fleet expansion and project execution. The company also completed a stock sub-division, reducing the face value from ₹10 to ₹5, effective December 22, 2025, to improve liquidity. The order book as of the announcement date stands at ₹1,500 crore, comprising ₹409 crore in dredging, ₹863 crore in charter hire (including green tugs), and ₹230 crore in shipbuilding. The company is also exploring opportunities in cruise services, which it views as an extension of its small craft operations.
KMEW has opted for the tonnage tax scheme, anticipating a significantly lower overall tax implication of less than 1% of turnover. The company's fleet utilization is reported at 100%, with dredgers utilized between 270-300 days and port ancillary crafts utilized 365 days a year. KMEW is actively participating in tenders for green tugs from major ports and plans to invest approximately ₹100 crore in its shipyard to enhance its shipbuilding capacity, aiming for a top line of ₹500-700 crore in three years.
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