Dredging Corporation of India Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
DREDGECORP · price
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Dredging Corporation of India Limited reported standalone audited financial results for FY 2025-26. Total income stood at Rs. 1,21,409.84 lakhs, up 7.2% from Rs. 1,13,315.85 lakhs in the prior year (restated). The company returned to profitability with net profit after tax of Rs. 475.35 lakhs compared to a net loss of Rs. 2,745.67 lakhs in FY 2024-25. EPS improved to Rs. 5.28 from negative Rs. 12.07. However, operating margins remain thin at 0.17% and net profit margin at -0.004%. The auditor gave an unmodified opinion but included an Emphasis of Matter regarding Dredger XI being classified as held for sale. Prior year figures were restated due to a Rs. 14.81 crore prior period error where advances were incorrectly recorded as revenue.
The company achieved a turnaround from losses to marginal profitability, indicating operational improvement. However, extremely low profit margins and thin margins of safety suggest continued vulnerability. The restatement of prior year figures and significant contingent liabilities (over Rs. 11,400 lakhs in disputed taxes) warrant investor attention.