Nuvama Recommends 'Buy' on Knowledge Marine, Sees 40% Upside

• Nuvama initiates 'buy' rating on Knowledge Marine and Engineering Ltd., its first analyst recommendation since mainboard migration.
• Brokerage sets a price target of ₹2,500, implying a potential 40% upside from current levels.
• Knowledge Marine benefits from India's maritime industry growth, boasting a 50% order-win rate and 35-40% EBITDA margins.
• Company has a strong order book of over ₹1,700 crore, including ₹650 crore for green tugs, up 2x year-on-year.
• Nuvama projects significant CAGR growth for FY25-28: revenue at 58%, EBITDA at 62%, and PAT at 71%.

Why It Matters: Nuvama recommends 'buy' on Knowledge Marine, citing strong maritime growth and robust financial projections for 40% upside.