KMEW hit a day high of Rs 3,186.20 on 30 October after the firm won a Rs 303.17 crore dredging order from New Mangalore Port.

In a filing at 12:06 pm, Knowledge Marine & Engineering Works Limited (KMEW) said New Mangalore Port Authority has handed it a three-year maintenance dredging contract.

The order is worth Rs 303.17 crore including taxes and runs from FY27 to FY29. The company calls it the biggest dredging order it has won.

Dredging simply means scooping sand and silt off the seabed so large ships can enter the port safely.

The work covers the approach channel, dock areas and the stretches near berths and pump houses.

Over three years, KMEW will remove about 15.9 million cubic metres, which works out to around 5.3 million cubic metres a year.

The company puts the yearly base value at about Rs 101.07 crore. Work starts on 15 November. Each year’s dredging must wrap up within 150 days.

KMEW won as the lowest bidder, with its offer about 10.16% below the competing bid.

Its promoters and group companies have no interest in the port authority, and the deal is not a related-party transaction.

The company said this is the first time it has been trusted with dredging across a whole port, and it plans to own and operate a mid-size dredger, though it gave no cost or timeline for buying one.

This follows a Rs 279.33 crore, 15-year green tug contract from Mumbai Port Authority, disclosed on 19 September.

The stock also goes ex-split on 6 November, when face value drops from Rs 5 to Re 1 per share.

KMEW closed at Rs 3,094.80 on NSE, up 0.18% from the previous close of Rs 3,089.20.

Its 52-week high is Rs 3,409, hit on 27 October. It’s up 160.01% over the past year, though it has lost 1.74% in the past week.

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