Ashish Kacholia’s portfolio multibagger stock hit 52-week high as it receives order worth Rs 41.51 crore from Eastern Asphalt & Mixed Concrete Company W.W.L!
The stock gave multibagger returns of 250 per cent in just 1 year and a whopping 3,700 per cent in 2 years.
Knowledge Marine & Engineering Works Ltd, operating through its subsidiary company 'Knowledge Dredging Co. W.L.L, India' established in Bahrain, has received a Letter of Intent (LOI) from 'Eastern Asphalt & Mixed Concrete Co. W.L.L for the supply of dredged marine sand in Bahrain. This notable contract carries a substantial value of 1.87 million Bahrani Dinar (approximately equivalent to Rs 41.51 crore, using an exchange rate of 1 BD = Rs. 221.40) and spans a tenure of 5 years. Set to commence during the third quarter of the fiscal year 2023-2024.
This will be the company’s fifth LOI in line for the supply of dredged marine sand in Bahrain. By successfully securing five contracts for the supply of dredged marine sand, the company has generated a cumulative LOI value of approx. Rs 383 crore for the next five years. This achievement serves as a testament to the robust demand within the Bahraini economy, driven by a notable upswing in both real estate activities and associated infrastructure development
Commenting on the Letter of Intent, Mr Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works Ltd said, “We are thrilled to declare our ongoing dedication to the 'Waste to Wealth' revenue model, which is resulting in the creation of a robust order book of approximately INR 383 crores for the upcoming five years. We are delighted to inform you that we have recently secured another LOI for the supply of marine sand in Bahrain. This achievement profoundly emphasizes the considerable demand for sand within the construction sector, thereby highlighting its crucial role in propelling development.”
Knowledge Marine & Engineering Works Ltd is primarily engaged in the business of owning, chartering/ hiring along with manning, operation and technical maintenance of marine crafts and repairs/ maintenance of marine crafts and marine infrastructure and allied works in India. An ace investor, Ashish Kacholia, holds the highest public stake in the company, owning 2.78 per cent as of June 2023. The company has a market cap of over Rs 1,900 crore.
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On Friday, shares of Knowledge Marine & Engineering Works zoomed 4.71 per cent to make a new 52-week high of Rs 1,770 per share with a spurt in volume by more than 1.05 times on BSE.
The stock gave multibagger returns of 250 per cent in just 1 year and a whopping 3,700 per cent in 2 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.