Knowledge Marine & Engineering Works Shares Surge After Securing 20-Year Luxury Cruise Contract on River Narmada

Mumbai, October 15, 2025: Shares of Knowledge Marine & Engineering Works Ltd (NSE: KMEW | BSE: 543273) rose over 2% during Wednesday’s trading session. The surge followed the company’s announcement of a landmark 20-year luxury cruise contract on the River Narmada.

Formed in the year 2015, KMEW is engaged in ship repair, dredging, refit jobs, hydrographic survey, and marine engineering solutions. The Ministry of External Affairs, Kolkata Port Trust, and Dredging Corporation of India are among its customers. KMEW evolved from a ship-repair facility to a prominent ship-owning and marine solutions company listed on BSE and NSE.

Description of 20-Year Cruise Agreement

KMEW was issued a Letter of Acceptance (LoA) by the Madhya Pradesh Tourism Board (MPTB) to create, build, and manage a luxury cruise from Kukshi in Madhya Pradesh to the Statue of Unity in Gujarat over a distance of about 135 km of river stretch. The venture, titled “A New Narmada Voyage,” was formally handed over at the Madhya Pradesh Travel Mart 2025 in the presence of Union Minister of Culture Gajendra Singh Shekhawat, Madhya Pradesh Chief Minister Dr. Mohan Yadav, and Minister of State (IC) for Tourism Dharmendra Bhav Singh Lodhi.

River Pearl Cruise: Luxury Meets Sustainability

KMEW is set to launch its first ship, “River Pearl Cruise,” in 21 months since entering into an agreement. The 70-meter twin-hull luxury catamaran will feature 36 riverview luxury cabins, fine dining, lounge decks, an infinity pool, a spa, and a wellness centre. The ship will operate on a hybrid propulsion system and zero-discharge waste management, reflecting India’s focus on green tourism.

The cruise itinerary spans three days – Day 1 includes cultural workshops and folk performances from Kukshi to Sakarja. Day 2 includes temple visits and village walks from Sakarja to Hanfeswar. The final Day 3 itinerary includes meditation, Statue of Unity visit, and a gala farewell from Hanfeswar to Mokhadi.

Management Commentary

CEO Sujay Kewalramani expressed, “Our entry into the cruise business reflects our focus on innovation and providing world-class experience to tourists. We envision potential revenue of up to ₹800 crore in 20 years with added support from rising tourist influx around the Statue of Unity, which today receives nearly 30,000 tourists per day.”

Market Performance

As of October 15 at 2:37 PM IST, the stock was trading at ₹2,310.00, up ₹32.30 from the previous close of ₹2,277.70, with an intraday range of ₹2,256.80–₹2,364.10. The company’s market capitalization stands at ₹2,518.47 crore, and the stock has a 52-week range of ₹1,264.05–₹2,599.90. It carries a price-to-earnings (P/E) multiple of 49.60× and a delivery percentage of 47.34%.

REF: https://nsearchives.nseindia.com/corporate/KMEW_15102025120120_Intimation_of_Press_Release.pdf

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