Knowledge Marine & Engineering Works Limited has informed the Exchange regarding Corrigendum to Audited Consolidated and Standalone Financial Results of the Company for the quarter and year ended on 31st March, 2026
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The company issued a corrigendum to its audited financial results due to a classification error in the cash flow statement. Investment in fixed deposits (Rs. 2,717.12 lakhs) was incorrectly classified under 'Operating Activities' instead of 'Investing Activities', making operating cash flow appear negative when it should have been positive. The company has now corrected this to properly reflect the investment in investing activities. Management states this is purely a classification correction with no impact on the actual financial results. The FY2026 standalone revenue grew 51% to Rs. 22,538 lakhs and PAT more than doubled to Rs. 7,795 lakhs. Consolidated revenue was Rs. 25,628 lakhs with PAT of Rs. 7,911 lakhs, both showing strong year-on-year growth. The auditor's Emphasis of Matter highlights Rs. 24.89 crores in receivables outstanding for over one year from Dredging Corporation of India, though no provision has been made.
The classification error was an accounting presentation issue only and does not affect the company's actual financial health. The underlying business showed strong growth in FY2026 with revenue and profit more than doubling on standalone basis. However, the outstanding receivable from Dredging Corporation of India flagged by auditors represents a contingent liability that investors should monitor.