Knowledge Marine & Engineering Works Shares Surge 5.65% After ₹385.76 Crore Green Tug Order from VOCPA

Mumbai, October 27, 2025: The share price of Knowledge Marine & Engineering Works Limited (NSE: KMEW | BSE: 543273) jumped 5.65% to ₹2,401 as of 1:06 PM in Monday’s session after the company announced it had secured a Letter of Intent (LOI) worth ₹385.76 crore from V.O. Chidambaranar Port Authority (VOCPA) to deploy a 60-ton electric green tug under the Green Tug Transition Program (GTTP).

The contract is for a term of 15 years and includes the manning, operation, and maintenance of the battery-operated tug, which includes technical management, and further exemplifies KMEW’s commitment to clean marine technology and a sustainable port infrastructure.

Established in 2015, KMEW operates across dredging, ship repair, marine craft operations, and hydrographic survey services. With a growing presence at major Indian ports, the company is emerging as a key contributor to India’s transition toward sustainable and low-carbon maritime operations.

The Details of the Agreement

Knowledge Marine & Engineering Works Limited has entered into an agreement for a 15-year period with the V.O. Chidambaranar Port Authority (VOCPA) for ₹385.76 crore (inclusive of taxes). The contract also includes hiring, operating, maintaining, and providing technical management for the 60-ton electric tug. This is a domestic contract awarded by VOCPA, and there are no reports of promoter interest or related party transactions.

Strategic Highlights

The design and construction of the 60-ton electric green tug will be carried out in-house, further enhancing KMEW’s sustainable marine assets and establishing its presence in southern India. The order is also aligned with Maritime India Vision 2030, which seeks to reduce carbon emissions by 30% per ton of cargo handled as well as increase energy generated from renewables at major ports.

Management Commentary

Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works Ltd, said, “Securing our first Green Tug contract under the GTTP marks a defining milestone for KMEW and India’s maritime sector. This 15-year engagement strengthens our market leadership and underscores our capability to deliver zero-emission, high-performance marine solutions designed entirely in-house.”

Market Snapshot

As of 1:06 PM, Knowledge Marine & Engineering Works Limited shares were trading at ₹2,401, up 5.65% from the previous close. The share price has climbed 13% over the past year, 70.33% in the last six months, and 5.92% in the past five days, showcasing sustained bullish momentum.

During the latest trading session, the stock opened at ₹2,306.80, hit an intraday high of ₹2,497.90, and touched a low of ₹2,298.10. The company’s market capitalisation currently stands at ₹2,590 crore. Over the past year, the stock has traded between a 52-week high of ₹2,599.90 and a low of ₹1,264.05, highlighting notable price volatility and strong investor interest.

REF: https://nsearchives.nseindia.com/corporate/KMEW_27102025103357_Intimation_of_VOCPA_-_Green_Tug-s.pdf

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