Knowledge Marine & Engineering Works Limited has secured a ₹66.11 crore contract from the Inland Waterways Authority of India (IWAI) to design and construct 10 hybrid electric passenger ferries. The order, received in consortium with subsidiary Knowledge Shipyard Private Limited (KSPL), marks the first external commercial shipbuilding order for KSPL and strengthens the group's position in the green maritime infrastructure segment.

Contract Details

The project is valued at ₹66.11 crore, including applicable taxes. This total comprises ₹65.52 crore for the construction of the ferries and ₹0.59 crore for maintenance and support. The vessels will have a capacity of 20 passengers each. The design, construction, supply, testing, and commissioning are scheduled to be completed within 10 months from the receipt of the work order, followed by a 60-month maintenance and support commitment.

Project Scope and Strategic Alignment

The scope of work includes detailed vessel engineering, class approvals, integration of hybrid-electric propulsion systems, and navigation and safety equipment. The award aligns with the Government of India's initiatives under the Harit Nauka – Inland Vessels Green Transition Guidelines, aimed at accelerating sustainable inland water transportation.

Management Commentary

Sujay Kewalramani, Chief Executive Officer of Knowledge Marine & Engineering Works Limited, stated that the award validates the company's vision of building a scalable shipbuilding platform. He noted that the project will consume less than 5% of the shipyard's capacity and resources, positioning the group within the emerging ecosystem for hybrid and electric vessels.

Designated persons of Knowledge Marine & Engineering Works sold a total of 5,12,820 equity shares through open market transactions on June 19, 2026. The sales were executed on the BSE by Whole-time Director Kanak Kewalramani and Chief Operational Officer Dinesh Kewalramani, who are part of the promoter group. The transactions were disclosed to the stock exchanges on June 21, 2026, in compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015.

Details of Share Sale

The share sales resulted in an aggregate transaction value of ₹100.63 crore. Kanak Kewalramani divested 3,45,620 equity shares, while Dinesh Kewalramani sold 1,67,200 equity shares. Both executives executed their trades on the BSE, and the company intimated the exchanges regarding the change in holdings.

Post-Transaction Holdings

Following the disposal, the shareholding of the designated persons has been adjusted. Kanak Kewalramani's holding decreased to 67,96,850 equity shares, representing 27.81% of the company's share capital. Dinesh Kewalramani's post-transaction holding stands at 6,50,600 equity shares, accounting for 2.66% of the total shares.