Dredging Corporation of India Limited has informed the Exchange about Credit Rating

Care Edge Ratings has reaffirmed the credit rating of Dredging Corporation of India Limited at CARE BBB+ (Stable) for long-term bank facilities and CARE A3+ for short-term facilities. The company had received credit rating upgrades previously from negative outlook. The rating enhancement from Rs.188.64 crore to Rs.404.55 crore reflects increased borrowing limits. Key positives include strong promoter support from four major ports, 21% revenue growth in FY25 to Rs.1,142 crore, and a healthy order book of Rs.1,422 crore. However, challenges remain including an aging dredger fleet with average age over 23 years, forex losses of Rs.36 crore in 9MFY26 due to unhedged Euro-denominated borrowing, and levy of liquidated damages of Rs.118 crore impacting profitability. The company reported net losses in FY25 and 9MFY26. A new 12,000 cubic metre dredger is expected to be commissioned by October 2026.