About the Company:
Knowledge Marine & Engineering Works Ltd is engaged in the business of owning and operating of Marine Crafts for dredging along with repairs and maintenance/refits of Marine Crafts and Marine Infrastructure.
The group started our business in the year 2013 under the name Kamal Marine & Engineering Works Private Limited, which undertakes the business of repair/ refits
of marine crafts.
With a two years of marine engineering experience and sustainable financial growth, the group expanded to owning and operating small crafts under the flagship of Knowledge Marine & Engineering Works Private Limited with its head office at Mumbai.
Over the years we have become an established player in the smallcraft business segment in India and have evolved from a small ship-repair unit to a ship-owning Company.
As at September 30, 2020, company’s Debt to Equity Ratio was 0.95 times.
Company has two major segments which includes following:
- Owning and operating of Marine crafts for dredging services.
- Ancillary services – conducting marine hydrographic & magnetometer survey, providing technical manpower solutions for maintenance and operation of vessels and repairs and Maintenance/ Refits of Marine Crafts and Marine Infrastructure.
KMEW group, operate with other 3 (three) companies formed as a special purpose vehicle (SPV) through joint venture agreement to meet the CPC guideline set by the Government of India for large contracts and to secure them for the group’s growth.
Company handles the contracts which involves following:
- Repairs, refit and renewals of marine crafts, hiring of tug, survey-cum-pilot launch, barges and other marine vessels.
- Dredging at various ports of India.
- Manning, technical maintenance, operations of marine vessels.
- Hydrographical and magnetometer surveys.
Company has entered into agreements with International Seaport Dredging Pvt Ltd, Indian Port Dredging Pvt Ltd, Paradip Port Trust, Solitaire Marine & Offshore Pvt Ltd and Visakhapatnam Port Trust for varied services as following:
Joint ventures with other shipping/ marine companies:
In addition to independently undertaking projects like the ones company has executed in the past, company intends to enter into joint ventures with other shipping/ marine companies in our industry to jointly bid and execute larger projects.
Such joint ventures or partnerships will enable company to achieve pre-qualification with the joint venture partner at the time of the bid, both technical and financial, and if the bid is successful, company will be able to successfully bid and execute the project with joint venture partner.
Ability to identify, acquire and deploy vessels:
Company began operations in 2015 and over the period of 5 years has emerged as a ship owing company from a small ship repair company.
As on the date company collectively holds 4 vessels i.e. Pilot boat, Survey cum pilot boat, Grab hopper dredger and Trailing hopper suction dredger.
Company considers acquiring a marine craft when we believe there is a demand for marine crafts in any particular segment in the industry.
Strong order book:
Company’s primary focus is to own and operate marine crafts for the Government of India by rendering them marine services such as dredging, manning, technical maintenance, operations of marine vessels, hydrographical and magnetometer surveys at various ports.
Company has an approximate asset value of around Rs. 25 crores and an order book of over Rs. 100 crores.
Details of some of the Major projects on which company is working currently:
Competitors in the business:
Company’s competitors include, among others, Indian offshore services operators such as Dredging Corporation of India Ltd, Sadhav Shipping Ltd, Ocean Sparkle Ltd, Orissa Stevedores Ltd, KNK Ship Management, Polestar Marine Ltd, Pragati Marine Services Pvt Ltd and Eastern Navigation Pvt Ltd.
Management Team:
- Mr. Saurabh M. Daswani (Designation: Saurabh M. Daswani)
- Mr. Kanak S. Kewalramani (Designation: Whole Time Director and Chief Financial Officer)
Objectives of the Issue:
Fresh Issue: (Rs. 10.1 cr)
- To meet Working Capital requirements
- General Corporate Purpose
- To meet issue expenses
Financials of the Company:
| (in Crores) | FY 18 | FY 19 | FY 20 | 30th Sept 20 |
|---|---|---|---|---|
| Revenue | 10.64 | 10.59 | 24.17 | 16.34 |
| Net Profit | 1.43 | 2.70 | 4.24 | 3.80 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Knowledge Marine & Engineering Works Ltd | 10 | 5.2 | 6.95 | 38.30% | 13.89 |
| Dredging Corporation of Indian Ltd |
10 | 1.97 | 182.94 | 0.35% | 560.80 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 9th March 2021 |
| Issue Closes on:. | 12th March 2021 |
| Issue Price | Rs.37 |
| Face Value | Rs.10 |
| Minimum Lot | 3000 |
| Minimum Investment | Rs.1,11,000 |
| Issue Constitutes | 26.72% |
| Issue Size | Rs.10.1 cr |
| Market Cap | Rs.37.87 cr |
| Listing at | BSE SME |
| Equity Shares Offered (Fresh) | 27,36,000 |
| Equity Shares Prior to the Issue | 75,00,000 |
| Equity Shares after the Issue | 1,02,36,000 |
Also Read : List of Upcoming IPO’s in India.
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 5.32 | 6.95 | 38.30% | 13.89 |
| Check IPO Allotment Status: |
|---|
Link InTime Website: https://linkintime.co.in/PublicIssue/BSE IPO Website: https://www.bseindia.com/IPO/Allotment |
| Company Contact Info: |
|---|
| Knowledge Marine & Engineering Works Limited Office No. 402, Sai Samarth Business Park, Deonar Village Road, Govandi (East) Mumbai 400088, Maharashtra, India Tele No: – 022-35530988 E-mail: – info@kmew.in Website: www.kmew.in |
| IPO Registrar Info: |
|---|
| LINK INTIME INDIA PRIVATE LIMITED Address: – C-101, 1 Floor, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai, Maharashtra, India-400083 Tel No.: +91-022-49186200 Fax No.: +91-022-49186060 Email: kmewl.ipo@linkintime.co.in Website: www.linkintime.co.in |
| Lead Manager to the Issue: |
|---|
| HEM SECURITIES LIMITED 904,A Wing, Naman Midtown, Senapati Bapat Marg, Elphinstone Road, Lower Parel, Mumbai-400013, India Tel. No.: +91- 022- 49060000 Email: ib@hemsecurities.com Website: www.hemsecurities.com |
