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Knowledge Marine & Engineering Works Q2 FY27 results: net profit down 4.2% to ₹21.53 crore, revenue down 28.2%
Knowledge Marine & Engineering Works Limited reported Q2 FY27 consolidated revenue of ₹70.81 crore and a net profit of ₹21.53 crore, with EBITDA of ₹28.29 crore and an EBITDA margin of 40.0%. Revenue and EBITDA were lower than both Q2 FY26 and Q1 FY27, while profit before tax was higher than Q2 FY26 despite the decline in revenue.
Key points
- Q2 FY27 consolidated revenue was ₹70.81 crore, down 28.2% from ₹98.65 crore in Q2 FY26 and down 38.6% from ₹115.41 crore in Q1 FY27.
- EBITDA was ₹28.29 crore, down 29.1% year on year and down 61.5% sequentially, while the EBITDA margin was 40.0%, compared with 40.5% and 63.6%, respectively.
- Net profit was ₹21.53 crore, down 4.2% from Q2 FY26 and down 65.7% from Q1 FY27; basic EPS was ₹1.55.
- Other income rose to ₹10.45 crore from ₹1.77 crore a year earlier, while total expenses fell to ₹51.90 crore from ₹73.30 crore.
- Total assets were ₹1,137.36 crore and total equity was ₹829.02 crore at 30 September 2026, while H1 FY27 operating cash flow was ₹44.12 crore.
How did Knowledge Marine & Engineering Works perform in Q2 FY27?
Knowledge Marine & Engineering Works reported consolidated Q2 FY27 revenue of ₹70.81 crore, compared with ₹98.65 crore in Q2 FY26 and ₹115.41 crore in Q1 FY27. Revenue fell 28.2% year on year and 38.6% sequentially. Total income was ₹81.25 crore, against ₹100.42 crore in the year-ago quarter and ₹118.62 crore in the previous quarter.
EBITDA was ₹28.29 crore, down 29.1% from ₹39.91 crore in Q2 FY26 and 61.5% from ₹73.41 crore in Q1 FY27. The EBITDA margin was 40.0%, compared with 40.5% and 63.6%, respectively. Profit before tax was ₹29.35 crore, up 8.2% year on year but down 55.1% sequentially.
Net profit was ₹21.53 crore, down 4.2% from ₹22.47 crore in Q2 FY26 and 65.7% from ₹62.75 crore in Q1 FY27. Profit attributable to owners was ₹19.22 crore and basic EPS was ₹1.55. The PAT margin was 30.4%, compared with 22.8% a year earlier and 54.4% in the previous quarter. The results were consolidated; the company also filed standalone results.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 70.81 | 115.41 | 98.65 | −28.2% | −38.6% |
| Other income | 10.45 | 3.21 | 1.77 | +490.4% | +225.5% |
| Total expenses | 51.90 | 53.28 | 73.30 | −29.2% | −2.6% |
| EBITDA | 28.29 | 73.41 | 39.91 | −29.1% | −61.5% |
| EBITDA margin | 40.0% | 63.6% | 40.5% | −0.5 pp | −23.6 pp |
| Profit before tax | 29.35 | 65.33 | 27.12 | +8.2% | −55.1% |
| Tax | 7.82 | 2.59 | 4.14 | +88.9% | +201.9% |
| Net profit | 21.53 | 62.75 | 22.47 | −4.2% | −65.7% |
| EPS (₹) | 1.55 | 25.67 | 20.80 | −92.5% | −94.0% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Knowledge Marine & Engineering Works' costs and profit?
Total expenses fell to ₹51.90 crore in Q2 FY27 from ₹73.30 crore in Q2 FY26, a decline of ₹21.40 crore. Cost of materials was ₹33.04 crore, down ₹15.12 crore, while finance costs were ₹3.17 crore, down ₹4.28 crore, depreciation was ₹6.22 crore, down ₹0.90 crore, and other expenses were ₹5.18 crore, down ₹1.22 crore. Employee cost rose to ₹4.30 crore from ₹4.17 crore.
Other income increased to ₹10.45 crore from ₹1.77 crore in the year-ago quarter, a difference of ₹8.68 crore. No exceptional item was reported in either quarter. Tax expense was ₹7.82 crore, up ₹3.68 crore from ₹4.14 crore, while profit before tax increased to ₹29.35 crore from ₹27.12 crore.
Against Q1 FY27, other income was ₹7.24 crore higher and finance costs were ₹1.89 crore lower. Employee cost was ₹0.64 crore higher, other expenses were ₹0.55 crore higher, and depreciation was unchanged at ₹6.22 crore. The filings do not state a specific reason for the changes in revenue or profit.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 33.04 | 48.16 | −15.12 | −31.4% |
| Employee cost | 4.30 | 4.17 | +0.13 | +3.1% |
| Finance costs | 3.17 | 7.45 | −4.28 | −57.4% |
| Depreciation | 6.22 | 7.12 | −0.90 | −12.6% |
| Other expenses | 5.18 | 6.40 | −1.22 | −19.1% |
| Total expenses | 51.90 | 73.30 | −21.40 | −29.2% |
| Other income | 10.45 | 1.77 | +8.68 | +490.4% |
| Tax | 7.82 | 4.14 | +3.68 | +88.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹1,137.36 crore, compared with ₹820.08 crore at 31 March 2026, while total equity was ₹829.02 crore against ₹572.84 crore. Borrowings increased to ₹271.80 crore from ₹222.06 crore and cash to ₹118.62 crore from ₹73.62 crore.
Inventories were ₹8.08 crore, compared with ₹4.38 crore at the previous balance-sheet date. Trade receivables fell to ₹73.53 crore from ₹76.75 crore, while trade payables increased to ₹21.38 crore from ₹19.33 crore.
H1 FY27 operating cash flow was ₹44.12 crore, compared with an outflow of ₹37.75 crore in H1 FY26. Investing cash flow was an outflow of ₹212.53 crore against an inflow of ₹2.17 crore, and financing cash flow was ₹213.41 crore against ₹40.58 crore. Capital expenditure was ₹320.43 crore, compared with an outflow of ₹1.50 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,137 | 820.08 |
| Total equity | 829.02 | 572.84 |
| Borrowings | 271.80 | 222.06 |
| Cash and equivalents | 118.62 | 73.62 |
| Inventories | 8.08 | 4.38 |
| Trade receivables | 73.53 | 76.75 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 44.12 | −37.75 |
| Cash from investing | −212.53 | 2.17 |
| Cash from financing | 213.41 | 40.58 |
| Capital expenditure | 320.43 | −1.50 |
Source: Company's results filing (XBRL).
How has Knowledge Marine & Engineering Works done over the last 8 quarters?
Revenue reached its highest level of the listed quarters in Q1 FY27 at ₹115.41 crore and was ₹70.81 crore in Q2 FY27. Its lowest level was ₹47.48 crore in Q4 FY25. Q2 FY27 revenue was below the ₹90.01 crore recorded in Q3 FY26 and the ₹67.62 crore recorded in Q4 FY26 was also lower.
Net profit peaked at ₹62.75 crore in Q1 FY27 and was ₹21.53 crore in Q2 FY27. Its lowest level was ₹10.51 crore in Q4 FY25. The EBITDA margin peaked at 63.6% in Q1 FY27 and fell to 40.0% in Q2 FY27, while its lowest level was 27.5% in Q4 FY26. The available data does not provide a streak.
Which businesses drove the quarter?
Ship Building and Repairing reported revenue of ₹40.51 crore, up 162.7% from ₹15.42 crore in the year-ago quarter, and EBIT of ₹17.72 crore compared with ₹4.00 crore. Its EBIT margin was 43.7%.
Dredging and Ancillary Services reported revenue of ₹30.30 crore and EBIT of ₹15.26 crore, with an EBIT margin of 50.4%. Comparative revenue, EBIT and growth figures for the year-ago quarter were not provided.
Bahrain reported no revenue and EBIT of negative ₹0.83 crore. Geographical Dredging Services in Myanmar also reported no revenue and EBIT of negative ₹10.08 crore; comparative figures were not provided for either business.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Dredging and Ancillary Services | 30.30 | 15.26 | 50.4% | |
| Ship Building and Repairing | 40.51 | +162.7% | 17.72 | 43.7% |
| Bahrain | 0 | −0.83 | ||
| Geographical Dredging Services (Myanmar) | 0 | −10.08 |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the un-audited standalone and consolidated financial results for the quarter and half year ended 30 September 2026. The meeting was held on 6 November 2026 and concluded at 1:20 p.m. IST.
The company filed an investor presentation alongside the results. It reported H1 FY27 revenue growth of 89% and a balance order book of ₹1,733 crore. The same-day filings did not include a dividend, fund raise or appointment.
What did Knowledge Marine & Engineering Works' management say?
Management said it expected Phase 1 of the shipyard to be completed by February 2027, with capacity for up to 14 vessels annually. It also said it was targeting an additional 12,000 m³ of hopper capacity and a portfolio of 5 green tugs by the end of the year.
Management said H1 FY27 revenue from operations was ₹18,621.97 lakhs, up 89% year on year, with an EBITDA margin of 55% and a PAT margin of 45%. The presentation cited a balance order book of ₹1,732.55 crore and bids of over ₹3,500 crore.
Management identified contract, capital and craft as three conditions for growth. It said contract delays can stop vessel acquisitions, capital delays constrain fleet expansion, and late sourcing can make the company ineligible to bid. It also said vessel acquisition was capital-intensive and working-capital changes consumed ₹5,505.67 lakhs in H1 FY27.
How did Knowledge Marine & Engineering Works shares react?
After the filing appeared, the stock was down 0.1% after 5 minutes, up 0.2% after 15 minutes and up 0.7% after 30 minutes. The Services-sector median move over the same period was down 0.1% on the reaction day, while no excess move or broader reaction-day comparison was provided.
Earlier results-day reactions were mixed: the stock moved down 11.0% on 29 May 2026, down 1.0% on 12 February 2026, up 0.4% on 14 November 2025 and up 7.4% on 14 August 2025. Earlier reactions also included declines of 3.7%, 1.1% and 0.0%, and a rise of 0.7%.
| After the filing | Stock | Services median |
|---|---|---|
| 5 minutes | −0.1% | |
| 15 minutes | +0.2% | |
| 30 minutes | +0.7% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 14 August 2026 | −0.0% |
| 29 May 2026 | −11.0% |
| 12 February 2026 | −1.0% |
| 14 November 2025 | +0.4% |
| 14 August 2025 | +7.4% |
| 31 May 2025 | −3.7% |
| 11 February 2025 | −1.1% |
| 19 November 2024 | +0.7% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Knowledge Marine & Engineering Works' revenue in Q2 FY27?
Revenue from operations was ₹70.81 crore, down 28.2% from ₹98.65 crore in Q2 FY26 (consolidated).
Did Knowledge Marine & Engineering Works make a profit in Q2 FY27?
Yes. Net profit was ₹21.53 crore, against a net profit of ₹22.47 crore in Q2 FY26.
What was Knowledge Marine & Engineering Works' EPS in Q2 FY27?
Basic earnings per share were ₹1.55, against ₹20.80 in Q2 FY26.
When did Knowledge Marine & Engineering Works announce its Q2 FY27 results?
On 6 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Approval Of The Un-Audited Standalone And Consolidated Financial Results Of The Company For The Quarter & Half Year Ended September 30, 2026 (BSE, 2 November 2026) · PDF
- Outcome of Board Meeting (NSE, 6 November 2026) · PDF
- The investor presentation (6 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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