Dredging Corporation Of India Ltd.
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ABOUT
AI Sector View
AI GENERATEDServices
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.
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
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| GESHIP | 1393.70 | 5.31 | 19897.46 | 2.52 | 1308.84 | 159.43 | 2005.36 | 66.91 | 18.37 | 66.71 |
| SCI | 287.30 | 8.27 | 13382.41 | 2.61 | 619.34 | 74.87 | 1846.56 | 40.31 | 14.64 | 45.35 |
| SHREEJISPG | 712.65 | 72.67 | 11610.37 | 0.00 | 44.29 | 19.03 | 208.85 | 29.57 | 33.77 | 29.54 |
| SEAMECLTD | 1772.50 | 17.55 | 4506.58 | 0.11 | 81.34 | 7.32 | 296.92 | 40.77 | 10.08 | 41.74 |
| DREDGECORP | 1042.30 | 77.73 | 2918.44 | 0.00 | 11.23 | 148.16 | 355.43 | 46.72 | 4.28 | 17.41 |
| SCILAL | 38.41 | 62.78 | 1789.13 | 1.43 | 140.20 | -2.23 | 78.60 | 37.65 | 1.31 | -13.74 |
| ESSARSHPNG | 16.05 | 3.65 | 332.20 | 0.00 | 230.41 | 742.14 | 0.04 | -97.63 | 0.00 | -7475.00 |
| GLOBOFFS | 44.47 | 0.00 | 136.84 | 0.00 | -2.87 | -51.27 | 11.79 | 177.29 | 4.19 | 35.10 |
| HRYNSHP | 99.50 | 14.87 | 61.36 | 0.00 | 4.42 | 546.41 | 0.00 | — | 3.20 | — |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 204 | 198 | 265 | 278 | 151 | 204 | 324 | 462 | 242 | 212 | 276 | 478 | 355 | |
| 148 | 140 | 197 | 259 | 139 | 206 | 272 | 386 | 195 | 187 | 243 | 335 | 345 | |
| Operating Profit | 56 | 57 | 69 | 19 | 12 | -2 | 52 | 77 | 47 | 25 | 33 | 143 | 10 |
| 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% |
| 1 | 0 | 1 | 1 | 1 | 23 | 16 | -1 | 1 | 1 | 1 | 2 | 1 | |
| Interest | 7 | 7 | 8 | 7 | 7 | 17 | 12 | 17 | 31 | 23 | 11 | 24 | 10 |
| Depreciation | 35 | 33 | 34 | 39 | 37 | 38 | 39 | 38 | 40 | 37 | 48 | 33 | 42 |
| Profit before Tax | 16 | 17 | 28 | -26 | -31 | -33 | 17 | 21 | -23 | -33 | -25 | 87 | 11 |
| 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 Profit | 15 | 17 | 27 | -26 | -31 | -34 | 16 | 21 | -23 | -34 | -25 | 87 | 11 |
| 5.41 | 5.99 | 9.72 | -8.85 | -11.22 | -11.97 | 5.73 | 5.38 | -8.33 | -12.21 | -8.80 | 34.62 | 4.01 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 585 | 592 | 692 | 750 | 764 | 801 | 1,165 | 946 | 1,127 | 1,208 | 1,322 | |
| 469 | 457 | 525 | 611 | 798 | 683 | 1,184 | 744 | 988 | 961 | 1,110 | |
| Operating Profit | 116 | 135 | 167 | 139 | -34 | 118 | -19 | 202 | 140 | 248 | 211 |
| OPM % | 19.87% | 22.80% | 24.15% | 18.52% | -4.50% | 14.72% | -1.64% | 21.34% | 12.39% | 20.50% | 15.99% |
| 14 | 20 | 8 | 9 | 3 | 19 | 3 | 3 | 24 | 6 | 6 | |
| Interest | 18 | 20 | 18 | 17 | 20 | 12 | 29 | 28 | 38 | 89 | 67 |
| Depreciation | 100 | 113 | 113 | 117 | 119 | 120 | 150 | 141 | 152 | 158 | 160 |
| Profit before Tax | 12 | 22 | 43 | 13 | -170 | 5 | -195 | 35 | -26 | 7 | 41 |
| Tax % | 39.68% | 21.25% | 12.33% | 58.90% | -1.07% | 25.19% | -0.65% | 5.25% | -5.26% | 27.74% | 4.72% |
| Net Profit | 7 | 17 | 38 | 6 | -172 | 4 | -196 | 33 | -27 | 5 | 39 |
| EPS | 2.54 | 5.94 | 13.58 | 1.97 | -59.99 | 1.90 | -69.13 | 11.85 | -9.81 | 1.70 | — |
| 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:
- 24%
- 1 Year:
- 60%
RETURN ON EQUITY
- 10 Years:
- -2%
- 5 Years:
- -3%
- 3 Years:
- 0%
- Last Year:
- 0%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 |
| 1,493 | 1,516 | 1,547 | 1,542 | 1,367 | 1,379 | 1,201 | 1,227 | 1,193 | 1,202 | |
| 819 | 812 | 656 | 596 | 450 | 332 | 400 | 481 | 810 | 874 | |
| Trade Payables | 211 | 180 | 126 | 130 | 290 | 375 | 412 | 265 | 241 | 191 |
| 159 | 110 | 103 | 171 | 128 | 194 | 286 | 396 | 391 | 772 | |
| Total Liabilities | 2,710 | 2,646 | 2,460 | 2,468 | 2,264 | 2,309 | 2,328 | 2,396 | 2,663 | 3,068 |
| 1,808 | 1,817 | 1,719 | 1,654 | 1,609 | 1,580 | 1,531 | 1,430 | 1,343 | 1,207 | |
| Capital Work in Progress | 26 | 43 | 8 | 8 | 12 | 29 | 5 | 344 | 584 | 894 |
| 4 | 4 | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| 194 | 193 | 187 | 208 | 170 | 160 | 136 | 117 | 134 | 176 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 175 | 252 | 236 | |
| Cash & Bank | 70 | 82 | 89 | 70 | 49 | 94 | 31 | 50 | 48 | 143 |
| 609 | 508 | 454 | 527 | 424 | 445 | 625 | 280 | 303 | 411 | |
| Total Assets | 2,710 | 2,646 | 2,460 | 2,468 | 2,264 | 2,309 | 2,328 | 2,396 | 2,663 | 3,068 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 132 | 127 | 207 | 146 | 184 | 243 | 169 | 192 | 130 | 142 | |
| Cash from Investing | -8 | 1 | 3 | 6 | -1 | -89 | -173 | -290 | -477 | -368 |
| Cash from Financing | -141 | -127 | -145 | -142 | -166 | -159 | -41 | 118 | 363 | 321 |
| -62 | 12 | 7 | -19 | 10 | -43 | -66 | 19 | -2 | 95 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
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 - 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 - Dredging Corporation of India Limited has informed the Exchange about General Updates
2026-09-01 - Dredging Corporation of India Limited has informed the Exchange about General Updates
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 - 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 - Dredging Corporation of India Limited has informed the Exchange about General Updates
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.
2026-08-05 - Dredging Corporation of India Limited has informed the Exchange regarding a press release dated August 04, 2026, titled "DCIL delivers remarkable Q1 turnover with 46.73% growth in operational income and return to profitability - Reg.".
News
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