Knowledge Marine & Engg hits the roof after strong Q2 earnings

Knowledge Marine & Engineering Works hit an upper circuit limit of 5% to Rs 874.30 after the company reported a strong Q2 performance.

On a consolidated basis, the company's net profit surged 425.11% to Rs 23.84 crore on 540.78% increase in net sales to Rs 122.71 crore in six months ended 30 September 2022 (H1 FY23) over the six months ended 30 September 2021 (H1 FY22). Profit before tax (PBT) soared 437.56% YoY to Rs 32.20 crore in H1 FY23 over H1 FY22.

Net cash from operating activities stood at Rs 28.67 crore as on 30 September 2022 compared with Rs 34.59 crore as on 31 March 2022.

Further, the company announced plan to issue 5.65 lakh preferential shares to seven investors at an issue price of Rs 700 each, aggregating to Rs 39.55 crore.

The company proposes to allot 2 lakh shares, or 1.85% stake, to Ashish R. Kacholia and 30,000 shares, 0.28% stake, to Vaibha R. Kacholia.

Knowledge Marine & Engineering Works is an established player in the dredging and small-craft business segment in India.

Powered by Capital Market - Live News