Knowledge Marine & Engineering Works reported FY26 revenue of ₹256 crore and secured orders worth ₹1,075 crore, boosting its total order book to ₹1,400 crore. The company also aims for significant capex in FY27.

Knowledge Marine & Engineering Works Ltd. Reports Strong FY26 Performance

FY 2026 Consolidated Revenue: ₹ 256 crore
Total Order Book: ₹ 1,400 crore

Reader Takeaway: Record order wins provide revenue visibility, but watch Q4 billing cycles.

What just happened

Knowledge Marine & Engineering Works Ltd. announced its financial results for the fiscal year 2026. The company reported consolidated revenue of ₹ 256 crore, up from ₹ 201 crore in FY 2025. EBITDA stood at ₹ 97 crore with a margin of 38%, and Profit After Tax (PAT) was ₹ 79 crore with a margin of 31%. A significant highlight was the ₹ 1,075 crore in new orders secured during FY 2026, expanding the total order book to ₹ 1,400 crore. The company also guided for a substantial capital expenditure of ₹ 400-500 crore in FY 2027.

Why this matters

The strong order book provides clear revenue visibility for multiple years, particularly in dredging, charter hire, and shipbuilding segments. The guided capex for FY27 indicates a focus on expansion, potentially driving future growth. The robust profitability margins suggest efficient operations and project execution.

The backstory

This performance follows a reported revenue of ₹ 201 crore in FY 2025. The company has been focused on strategic project selection and long-term value creation. Its operations span dredging, charter hire, and shipbuilding.

What changes now

The company is set to embark on a significant expansion phase with its planned FY27 capex. The high order book ensures sustained business activity. Management's emphasis on annual performance evaluation is a key point for investors to consider.

Risks to watch

Revenue recognition timing, especially concerning completion-based payments, can cause quarterly fluctuations. Approximately ₹ 60 crore in billings were deferred to Q1 FY27 due to contract terms, impacting Q4 FY26 figures.

Peer comparison

While specific peer data isn't provided in the filing, Knowledge Marine's reported EBITDA margin of 38% and PAT margin of 31% appear robust within the marine engineering and dredging sector, which often has varying profitability based on project scale and duration.

Context metrics (time-bound)

• FY 2026 Consolidated Revenue: ₹ 256 crore (vs. ₹ 201 crore in FY 2025).
• FY 2026 EBITDA: ₹ 97 crore (38% margin).
• FY 2026 PAT: ₹ 79 crore (31% margin).
• Orders Secured in FY 2026: ₹ 1,075 crore.
• Total Order Book (as of FY 2026 end): ₹ 1,400 crore.
• FY 2027 Capex Guidance: ₹ 400 - 500 crore.
• Total Cash Balance (as of June 05, 2026): > ₹ 350 crore.
• Free Cash (as of June 05, 2026): ~ ₹ 300 crore.

What to track next

Investors should monitor the execution of the ₹ 1,075 crore worth of new orders and the progress of shipyard development and equipment acquisition planned under the FY27 capex guidance. The company's ability to maintain its high margins on new projects will also be crucial.