Knowledge Marine & Engineering Works Ltd Company Summary

Knowledge Marine & Engineering Works Ltd Summary

The Company was formerly incorporated as Knowledge Marine & Engineering Works Private Limited under provisions of the Companies Act, 2013 vide Certificate of Incorporation dated October 26, 2015 issued by the Registrar of Companies, Maharashtra, Mumbai. Subsequently, Company got converted into a Public Limited Company pursuant to a Special Resolution passed by Shareholders at the Extra-Ordinary General Meeting of the Company held on January 23, 2020 and consequent upon conversion, the name of Company got changed to Knowledge Marine & Engineering Works Limited vide a fresh Certificate of Incorporation dated January 31, 2020 issued by the Registrar of Companies, Mumbai. The Company is promoted by Mr. Saurabh M. Daswani and Mrs. Kanak S. Kewalramani. The Company is engaged in owning and operating of Marine Crafts; and Repair and maintenance/refits of Marine Crafts and Marine Infrastructure. The Company provide marine engineering services like dredging at various ports of India; carrying out repair & refit services of naval & merchant ships; conducting hydro graphic & magnetometer surveys; providing technical solutions for maintenance and operations of vessels.Incorporated in 2013 at Chennai, KMEW Group started its business as a small Marine Engineering Company and got first order for working with L&T Shipyard. The Group expanded to owning and operating small crafts under the flagship of Knowledge Marine & Engineering Works Private Limited with Head Office in Mumbai. The Company have become an established player in the small-craft business segment in India and have evolved from a small ship-repair unit to a ship-owning Company. Presently, the Company own a versatile fleet of marine crafts costing over Rs. 30 crores. KMEW Group, operate with other 3 companies formed as a special purpose vehicle (SPV) through joint venture agreement (JVA) to meet the CPC guideline set by the Government of India for large contracts and to secure them for the groups growth. The Company have numerous competitors in each of the geographical regions through which it operate, ranging from international companies operating in many regions to smaller local companies that typically concentrate their activities in one specific region. It compete with larger and financially stronger vessel operators who may have greater brand recognition and reputation. The competitors include Indian offshore services operators such as Dredging Corporation of India Limited, Sadhav Shipping Limited, Ocean Sparkle Limited, Orissa Stevedores Limited, Polestar Marine Limited, KNK Ship Management, Pragati Marine Services Private Limited and Eastern Navigation Private Limited.During the year 2016-17, the Company received first long term work order from the Government Port i.e., Kolkata Port for a period of 7 years for a contract amount of Rs. 21.69 crores. The Company acquired and converted Hopper Barge River Pearl 2 into Grab Dredger during the same period. The Company attained Work Contract from Kandla Port for salvage of steel walkway and replaced it with newly fabricated walkway.In the year 2018, the Company began induction (ceremony) of River Pearl 1 by Shri Mansukh Mandaviya, The Minister of State for Ministry of Shipping, GOI.In 2019, the Company inducted/ processed TSHD ( Trailing Suction Hopper Dredger) River Pearl 4 deployed at Kolkata Channel by Shri Vinit Kumar, Chairman of Kolkata Port Trust. The Company transported Pilot Boat River Pearl 3 by road from Mumbai Port to Vizag and started construction of the work at Vizag Port. In 2020, the Company completed 1 million cubic meters of Dredging under single order at Kolkata Port by TSHD River Pearl 4. The Company successfully completed deployment of River Pearl 1 and River Pearl 2 within two and half years during the year 2020. In the FY 2020-21, the Company is holding 50% shareholding in KMEW Offshore Private Limited, 70% in M/s Indian Ports Dredging Private Limited and 74% in M/s. Knowledge Infra Ports Private Limited. The Company have secured two more contracts of Rs. 14.14 crores aggregate value. This includes, the work order from Visakhapatnam Port Trust for a contract price of Rs. 5.02 crores for a period of 5 years extendable by 2 more years for supplying 20 knots speed Patrol Boat along with Manning crew, and the work order from Deendayal Port Trust for a contract price of Rs. 9.12 crores for supplying 2 nos. mooring launches for a period of 5 years. The Companys focus to provide value added port service is essential to facilitate the logistics platform, that enables and encapsulates the entire gamut of supply chain.