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Knowledge Marine & Engineering Works Limited ( (IN:KMEW) ) has issued an announcement.
Knowledge Marine & Engineering Works Limited has received approval from the Joint Commissioner of Income Tax, Mumbai, to shift from the standard corporate tax regime to the Tonnage Tax Scheme for a 10-year period starting Assessment Year 2026-27, aligning with the government’s extension of this regime to inland vessels. By basing its tax outgo on vessel tonnage rather than profits, KMEW expects a significant reduction in tax liability, bolstering profitability, cash flow and capacity for capex-led fleet expansion, which management believes will enhance its competitiveness in bidding for contracts and strengthen its position in India’s inland water transportation market as the sector attracts more investment and cargo volumes.
More about Knowledge Marine & Engineering Works Limited
Knowledge Marine & Engineering Works Limited is an Indian marine services company engaged in shipbuilding, ship repair, vessel chartering and marine contracting, with a focus on inland water transport and related maritime infrastructure. The company is listed on both BSE and NSE and operates a fleet that positions it to benefit from regulatory and tax incentives aimed at expanding India’s inland waterways and shipping sector.
Average Trading Volume: 7,095
Technical Sentiment Signal: Buy
Current Market Cap: 40.15B INR
For detailed information about KMEW stock, go to TipRanks’ Stock Analysis page.