Dredging Corporation of India Limited has informed the Exchange regarding a press release dated September 25, 2025, titled "49th AGM PRESS RELEASE".
DREDGECORP · price
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Awaiting price reaction for this filing.
Dredging Corporation of India (DCI) held its 49th AGM on September 25, 2025, sharing key highlights from FY24-25. Total income grew 20.79% to ₹142.14 crore, but the company faced a post-tax loss of ₹49 crore in Q3 due to ₹66.61 crore in liquidated damages imposed by major ports. A strong Q4 recovery delivered a net profit of ₹21.39 crore. The order book stands at ₹1,005 crore (as of August 2024), with 89.6% market share in maintenance dredging for major ports. Major ongoing projects include the ₹2,015.88 crore Hooghly Estuary contract and ₹56.50 crore Cochin Port maintenance work. DCI is awaiting delivery of its new 12,000 m³ dredger 'DCI Dredge Godavari' (now delayed to late 2025) and plans a ₹500 crore equity infusion from promoter ports along with ₹1,600 crore in soft loans from Sagarmala Finance Corporation for fleet modernization.
Positive signals for shareholders: strong revenue growth, robust order book, market dominance in maintenance dredging, and planned capital infusion that could strengthen the balance sheet and reduce interest costs by ~₹43 crore annually. However, concerns remain around the Q3 loss from liquidated damages, ageing fleet (25+ years old), and legacy receivables of ~₹131 crore from various ports still weighing on working capital.