DREDGING CORP OF INDIA

Dredges and maintains shipping channels and harbours for India's Major Port Authorities, with four government-owned ports — Visakhapatnam, Paradeep, Jawaharlal Nehru and Deendayal — as its principal customers. All four are classified as promoter entities. FY26 revenue stood at Rs 1,208.33 crore, the highest turnover in the company's five-decade history. During H2 FY26, related-party transactions with these ports totalled Rs 9,466.42 lakhs, with Paradeep Port Authority accounting for Rs 4,763.12 lakhs and the largest closing receivable balance of Rs 6,147.31 lakhs. The cost structure is dominated by other operating expenses (fuel, vessel charter, project execution) at 70.6% of revenue, with depreciation at 13.1% and employee costs at 8.9%. Net profit in FY26 was Rs 4.75 crore, recovering from a restated loss of Rs 12.07 crore in FY25. A 150 kW solar rooftop plant was commissioned at the Visakhapatnam headquarters in May 2026. Management has set a target of Rs 1,500 crore turnover for FY27.