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Dredging Corporation Of India Ltd.

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dredge-india.comBSE: 523618NSE: DREDGECORP
Market Cap₹ 2,912 Cr.
Current Price
High / Low₹ 1,286 / 538
Stock P/E74.0
Book Value₹ 444
Price to Book1.75
Dividend Yield0.00 %
ROCE4.3 %
ROE0.4 %
Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Services

Buy

Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.

Confidence
72%
View full sector analysis →

PROS

  • Latest quarter profit grew 148.2% YoY, showing strong momentum
  • Strong cash generation - operating cash flow backs reported profits (CFO/PAT 42.48x)
  • Operating margins have improved to 20.5% from -1.4%
  • Working capital cycle has improved - days down from -4 to -13

CONS

  • A large part of profit comes from other income (87.8% of PBT)
  • Company has a low return on equity of 0.3% over last 3 years
  • Company has a low return on capital employed of 2.9%
  • Interest coverage is weak at 1.1x - earnings barely cover interest
  • Free cash flow has been persistently negative
  • Recurring exceptional / one-off items are inflating headline profit

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ServicesLogisticsShipping
Part ofNIFTY 50NIFTY 500NIFTY LARGEMIDCAP 250NIFTY 100NIFTY 200
S.No.Name
1.GESHIP1410.955.3820143.732.491308.84159.432005.3666.9118.3766.71
2.SCI280.208.0713051.692.68619.3474.871846.5640.3114.6445.35
3.SHREEJISPG690.1570.3711243.800.0044.2919.03208.8529.5733.7729.54
4.SEAMECLTD1787.2517.694544.080.1181.347.32296.9240.7710.0841.74
5.DREDGECORP1039.9077.552911.720.0011.23148.16355.4346.724.2817.41
6.SCILAL38.1462.341776.561.44140.20-2.2378.6037.651.31-13.74
7.ESSARSHPNG16.273.70336.750.00230.41742.140.04-97.630.00-7475.00
8.GLOBOFFS43.200.00132.930.00-2.87-51.2711.79177.294.1935.10
9.HRYNSHP99.7514.9161.510.004.42546.410.00—3.20—
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
204198265278151204324462242212276478355
148140197259139206272386195187243335345
Operating Profit5657691912-2527747253314310
OPM %27.55%29.06%25.92%6.92%8.13%-0.74%16.12%16.58%19.36%11.78%11.91%29.89%2.94%
101112316-111121
Interest778771712173123112410
Depreciation35333439373839384037483342
Profit before Tax161728-26-31-331721-23-33-258711
Tax %3.26%3.95%1.73%-0.62%-1.36%-1.61%4.23%-1.37%-0.60%-3.36%-0.16%0.62%2.26%
Net Profit151727-26-31-341621-23-34-258711
5.415.999.72-8.85-11.22-11.975.735.38-8.33-12.21-8.8034.624.01

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
5855926927507648011,1659461,1271,2081,322
4694575256117986831,1847449889611,110
Operating Profit116135167139-34118-19202140248211
OPM %19.87%22.80%24.15%18.52%-4.50%14.72%-1.64%21.34%12.39%20.50%15.99%
142089319332466
Interest1820181720122928388967
Depreciation100113113117119120150141152158160
Profit before Tax12224313-1705-19535-26741
Tax %39.68%21.25%12.33%58.90%-1.07%25.19%-0.65%5.25%-5.26%27.74%4.72%
Net Profit717386-1724-19633-27539
EPS2.545.9413.581.97-59.991.90-69.1311.85-9.811.70—
Dividend Payout %0.00%32.67%22.09%0.00%0.00%0.00%0.00%0.00%0.00%0.00%—

COMPOUNDED SALES GROWTH

10 Years:
6%
5 Years:
10%
3 Years:
1%

COMPOUNDED PROFIT GROWTH

10 Years:
-20%
5 Years:
—
3 Years:
—

STOCK PRICE CAGR

10 Years:
9%
5 Years:
23%
3 Years:
29%
1 Year:
64%

RETURN ON EQUITY

10 Years:
-2%
5 Years:
-3%
3 Years:
0%
Last Year:
0%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2018

Aug 3

₹ 0.20

Rs.2.0000 per share(20%)Dividend

2016

Sep 22

₹ 0.30

Rs.3.0000 per share(30%)Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital28282828282828282828
1,4931,5161,5471,5421,3671,3791,2011,2271,1931,202
819812656596450332400481810874
Trade Payables211180126130290375412265241191
159110103171128194286396391772
Total Liabilities2,7102,6462,4602,4682,2642,3092,3282,3962,6633,068
1,8081,8171,7191,6541,6091,5801,5311,4301,3431,207
Capital Work in Progress26438812295344584894
4440000000
194193187208170160136117134176
0000000175252236
Cash & Bank708289704994315048143
609508454527424445625280303411
Total Assets2,7102,6462,4602,4682,2642,3092,3282,3962,6633,068

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
132127207146184243169192130142
Cash from Investing-8136-1-89-173-290-477-368
Cash from Financing-141-127-145-142-166-159-41118363321
-62127-1910-43-6619-295

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
73.4773.4773.4773.4773.4773.4773.4773.4773.47
0.340.180.180.450.210.150.510.371.03
5.095.636.606.606.256.638.158.316.67
0.080.080.080.080.080.080.080.040.04
21.0220.6419.6719.4019.9919.6817.7817.8018.79

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11
General Updates

2026-09-11 - Dredging Corporation of India Limited has informed the Exchange about General Updates

2026-09-04
Cessation

2026-09-04 - Dredging Corporation of India Limited has informed the Exchange regarding Cessation of Mr P L HARANADH as Non- Executive and Non- Independent Director of the company w.e.f. September 01, 2026.

2026-09-04
Appointment

2026-09-04 - Dredging Corporation of India Limited has informed the Exchange regarding Appointment of SUSANTA KUMAR PUROHIT, IRSEE as Non- Executive and Non- Independent Director of the company w.e.f. September 04, 2026.

2026-09-01
General Updates

2026-09-01 - Dredging Corporation of India Limited has informed the Exchange about General Updates

2026-09-01
General Updates

2026-09-01 - Dredging Corporation of India Limited has informed the Exchange about General Updates

2026-09-01
Record Date

2026-09-01 - Dredging Corporation of India Limited has informed the Exchange that Record date for the purpose of Meeting is 18-Sep-2026.

2026-09-01
Shareholders meeting

2026-09-01 - Dredging Corporation of India Limited has informed the Exchange regarding Notice of 50th Annual General Meeting to be held on September 24, 2026

2026-09-01
General Updates

2026-09-01 - Dredging Corporation of India Limited has informed the Exchange about General Updates

2026-08-09
Shareholders meeting

2026-08-09 - Dredging Corporation of India Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.

News

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