MUMBAI, India – September 19, 2026 – Knowledge Marine & Engineering Works Limited (“KMEW”) (BSE: 543273, NSE: KMEW) has received a Work Order from Mumbai Port Authority (“MbPA”) for chartering one 60-ton Bollard Pull capacity new battery-operated Electric Green Tug, along with its manning, operations, maintenance, and complete technical management, for a period of 15 (Fifteen) years, valued at ₹279.33 Crore (Two Hundred Seventy-Nine Crore and Thirty-Three Lakh Rupees), including GST. The disclosure was made via a Regulation 30 filing read with Schedule III of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (Ref: KMEW/BSE/Reg-30/2026-27/31, dated September 19, 2026).
Work Order Details and Regulatory Compliance
| Particular | Details |
|---|---|
| Entity Awarding the Order | Mumbai Port Authority (MbPA) |
| Nature of Order | Chartering of 01 No. 60 Ton Bollard Pull Capacity New Battery Operated Electric Green Tug, along with Manning, Operations, Maintenance and Complete Technical Management |
| Contract Duration | 15 (Fifteen) years |
| Contract Value | ₹279.33 Crore, including GST |
| Nature of Entity | Domestic Entity |
| Promoter/Promoter Group Interest in Awarding Entity | No |
| Related Party Transaction | No |
| Reference Number | KMEW/BSE/Reg-30/2026-27/31 |
| Filing Date | September 19, 2026 |
| Scrip Code / Symbol / ISIN | 543273 / KMEW / INE0CJD01029 |
Per the company’s press release (Annexure A to the filing), this is KMEW’s third Green Tug contract, following two Green Tug contracts secured earlier by the company, and adds to what the release describes as the company’s “growing portfolio of next-generation marine assets with long-term operating commitments.” The release states the vessel construction will be supported through KMEW’s subsidiary, Knowledge Shipyard Limited, which is also undertaking the company’s other Green Initiatives, and situates the order within the Government of India’s Green Tug Transition Programme, announced May 22, 2023, under the Maritime Amrit Kaal Vision 2047.
Commenting on the order, Mr. Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works Limited, said the company is “delighted to announce our third Green Tug contract,” adding that securing three such contracts from Major Ports “reflects the confidence placed in KMEW’s technical capabilities, execution strength and our long-term vision for sustainable maritime infrastructure.” He further noted that constructing this vessel alongside the company’s other two Green Tugs at a common shipbuilding platform is expected to build “greater standardisation” and “deeper technical expertise in this specialised segment.”
Market and Investor Implications
The ₹279.33 Crore, 15-year work order adds a long-duration, recurring revenue stream to KMEW’s business, extending the company’s presence beyond its established dredging and marine-services operations into specialised shipbuilding and next-generation marine infrastructure. With this being the company’s third Green Tug contract from Major Ports within a relatively short period, per the company’s own release, investors may view the win as evidence of repeatable execution capability in an emerging and policy-supported segment of India’s maritime sector.
The filing confirms the order does not involve any promoter or promoter-group interest in the awarding entity and does not fall within related-party transactions — standard governance disclosures relevant to assessing the arm’s-length nature of the contract. The 15-year manning, operations, maintenance and technical-management scope also signals a shift toward longer-term, service-linked revenue visibility alongside the company’s traditional project-based dredging and shipbuilding income.
Authoritative Sources
This article is based exclusively on the corporate announcement filed by Knowledge Marine & Engineering Works Limited with the stock exchanges. Reference: KMEW/BSE/Reg-30/2026-27/31, dated September 19, 2026, filed under Regulation 30 read with Schedule III of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.
Useful Websites for Investors
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- National Stock Exchange of India Ltd.: https://www.nseindia.com/
- Securities and Exchange Board of India: https://www.sebi.gov.in/
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