Dredging Corporation of India Ltd

The agency has also affirmed the company's short-term rating at 'CARE A3+'. CARE Ratings stated that the reaffirmation of the ratings assigned to the bank facilities of Dredging Corporation of India (DCIL) continues to derive strength from its established presence of nearly five decades in domestic and overseas dredging services, strong parentage with shareholding held by major ports of the country, and a growing order book providing medium-term revenue visibility. The rating favourably factors in the support extended by the sponsors in form of funds extended via work advances and unsecured loans for dredger acquisition and settlement of liabilities. Promoter support is expected to continue in the near term to support liquidity and fund capital expenditure requirements. The ratings also factor in steady growth in revenue during FY25 and 9MFY26, wherein revenue witnessed year-on-year growth of 21% and 7%, respectively, driven by increased order inflow and execution. Working capital intensity improved, as reflected by reduced receivable days and trade payables. DCIL continues to maintain a comfortable leverage profile. CareEdge Ratings notes that DCIL has availed an additional term loan of Rs 150 crore from Sagarmala Finance Corporation for dry docking and other major maintenance expenses. Along with term loans availed from Sagarmala Finance Corporation Limited and new loan being availed for a new dredger, leverage and debt coverage indicators is expected to moderate in the near term. However, post-acquisition of the new dredger, DCIL will be able to undertake capital dredging work, which is expected to improve capacity utilisation and debt coverage indicators from FY27. The rating strengths are tempered by the ageing dredger fleet leading to high maintenance expenses, exposure to foreign exchange risk due to unhedged foreign currency debt, volatility in margins owing to fuel price fluctuations, and increased competition from domestic and global private players. Dredging Corporation of India (DCIL) provides integrated dredging services such as dredging and reclamation, marine services and construction, shallow water/inland dredging, and underwater mining to major and non major ports, Indian Navy, and other maritime organisations in India. The scrip had gained 0.89% to end at Rs 900.30 on the BSE today.

The agreement brings together DCIL's dredging fleet and operational expertise with Colombo Dockyard's ship repair and shipbuilding infrastructure to deliver cost-effective and timely solutions across vessel maintenance, repair, retrofitting, and shipbuilding. Under the agreement, both companies will provide comprehensive ship repair and dry-docking services for DCIL's fleet. The partnership also includes joint exploration of shipbuilding opportunities, particularly in specialized dredgers and offshore support vessels. Captain S. Divakar, managing director & CEO of DCIL, stated, 'This MoU reflects our commitment to operational excellence, fleet modernization, and expanding regional partnerships. By collaborating with Colombo Dockyard, we aim to enhance the lifecycle efficiency of our fleet while exploring new opportunities in shipbuilding and offshore support vessels.' Thimira S. Godakumbura, managing director & CEO, CDPLC, said, 'We are proud to partner with DCIL, a leader in dredging operations. This collaboration reinforces our position as a preferred maritime service provider in South Asia and opens new avenues for technological exchange and sustainable growth.' The MoU also provides for technical collaboration and knowledge sharing, aimed at enhancing capabilities and strengthening the regional maritime ecosystem. Dredging Corporation of India is engaged in providing integrated dredging services to ports, the Indian Navy, and other maritime organizations in India. The company reported a standalone The company reported a net loss of Rs 24.63 crore in Q3 FY26, compared to a net profit of Rs 16.06 crore in Q3 FY25. Revenue from operations declined 14.9% year-on-year to Rs 276.08 crore in Q3 FY26.

He will hold office as an additional director till the next general meeting, which will be convened within three months, where shareholders' approval will be sought for his appointment as a non-independent executive director till he attains the age of 60 years or until further orders. Capt. Divakar, currently Chief General Manager and holding additional charge as MD & CEO, has nearly 38 years of experience in dredging operations and management. He began his career with the company in 1987 and has served in both onboard and onshore roles. He holds a Dredge Master Grade-I Certificate of Competency and is also a director at Sethusamudram Corporation. Dredging Corporation of India is engaged in providing integrated dredging services to ports, the Indian Navy, and other maritime organizations in India. The company reported a standalone net loss of Rs 24.63 crore in Q3 FY26 as against a net profit of Rs 16.06 crore in Q3 FY25. Revenue from operations declined 14.9% year-on-year to Rs 276.08 crore in Q3 FY26. Shares of Dredging Corporation of India rose 0.90% to Rs 833.35 on the BSE.Powered by Capital Market - Live

Dredging Corporation of India announced that Lav Verma, IAS (Retd.), ceased to be an Independent Director of the Company with effect from 28 February 2026 upon completion of his tenure of three years. Powered by Capital Market - Live

Net loss of Dredging Corporation of India reported to Rs 24.63 crore in the quarter ended December 2025 as against net profit of Rs 16.06 crore during the previous quarter ended December 2024. Sales declined 14.91% to Rs 276.08 crore in the quarter ended December 2025 as against Rs 324.44 crore during the previous quarter ended December 2024. ParticularsQuarter EndedDec. 2025Dec. 2024% Var. Sales276.08324.44 -15 OPM %11.9116.12 - PBDT23.5657.37 -59 PBT-24.5918.37 PL NP-24.6316.06 PL Powered by Capital Market - Live

Dredging Corporation of India will hold a meeting of the Board of Directors of the Company on 5 February 2026.Powered by Capital Market - Live

Net Loss of Dredging Corporation of India reported to Rs 34.18 crore in the quarter ended September 2025 as against net loss of Rs 33.51 crore during the previous quarter ended September 2024. Sales rose 3.56% to Rs 211.79 crore in the quarter ended September 2025 as against Rs 204.50 crore during the previous quarter ended September 2024. ParticularsQuarter EndedSep. 2025Sep. 2024% Var. Sales211.79204.50 4 OPM %11.78-0.74 - PBDT3.46-17.56 LP PBT-33.07-55.29 40 NP-34.18-33.51 -2 Powered by Capital Market - Live

Dredging Corporation of India will hold a meeting of the Board of Directors of the Company on 12 November 2025.Powered by Capital Market - Live

Lancor Holdings Ltd, Dolphin Offshore Enterprises (India) Ltd, L G Balakrishnan & Bros Ltd and South West Pinnacle Exploration Ltd are among the other gainers in the BSE's 'B' group today, 03 November 2025.Dredging Corporation of India Ltd spiked 20.00% to Rs 888.95 at 12:01 IST. The stock was the biggest gainer in the BSE's 'B' group. On the BSE, 1.69 lakh shares were traded on the counter so far as against the average daily volumes of 27821 shares in the past one month. Lancor Holdings Ltd soared 19.99% to Rs 32.9. The stock was the second biggest gainer in 'B' group. On the BSE, 4.5 lakh shares were traded on the counter so far as against the average daily volumes of 28745 shares in the past one month. Dolphin Offshore Enterprises (India) Ltd surged 19.25% to Rs 436.45. The stock was the third biggest gainer in 'B' group. On the BSE, 20608 shares were traded on the counter so far as against the average daily volumes of 170 shares in the past one month. L G Balakrishnan & Bros Ltd advanced 14.67% to Rs 1626.3. The stock was the fourth biggest gainer in 'B' group. On the BSE, 1.48 lakh shares were traded on the counter so far as against the average daily volumes of 2864 shares in the past one month. South West Pinnacle Exploration Ltd spurt 13.83% to Rs 179.8. The stock was the fifth biggest gainer in 'B' group. On the BSE, 75884 shares were traded on the counter so far as against the average daily volumes of 19473 shares in the past one month. Powered by Capital Market - Live

The deals aim to expand dredging capacity, modernise the fleet, and strengthen its global presence. The company tied up with major ports for dredging projects and Cochin Shipyard for dredger construction and repair. It also partnered with NMDC Abu Dhabi for a global JV, BEML for indigenous parts, and IHC for modernising dredgers. An MoU with IIT Chennai's National Technology Centre for Ports, Waterways & Coasts (NTCPWC) will cover bathymetry surveys and training programmes. IOCL will ensure fuel and lubricant supply to Dredging Corporation of India Ltd (DCIL) vessels. Chairman Dr. M. Angamuthu said the MoUs align with the Maritime Amrit Kaal Vision. The government plans to invest Rs 4,000 crore to build 11 new dredgers and upgrade existing ones. CEO Capt. S. Divakar said the partnerships will boost efficiency and reinforce DCIL's position as India's top dredging company. DCIL currently handles about 55% of India's dredging needs. DCIL operates under a consortium of four major ports ' Visakhapatnam, Paradip, Jawaharlal Nehru and Deendayal Port Authorities. As on September 2025, this consortium held 73.47% stake in DCIL. The company reported standalone net loss of Rs 23.33 crore in Q1 FY26 as against net loss of Rs 31.40 crore in Q1 FY25. Revenue from operations jumped 60.6% year-on-year to Rs 242.24 crore in Q1 FY26. Powered by Capital Market - Live