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Dredging Corporation Of India Ltd (DREDGECORP)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523618 NSE: DREDGECORP Shipping | Small Cap | Dredging Corp Share Price

₹1,203.25 -30.65 (-2.48%)

As on 04-Jun'26 16:59

Dredging Corporation Of India Ltd (DREDGECORP)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523618 NSE: DREDGECORP Shipping | Small Cap | Dredging Corp Share Price

₹1,203.25 -30.65 (-2.48%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹3,369 Cr.
Current Price
₹1,203.3
52-Week Low / High
₹562 / 1,255
TTM EPS
₹1.7
TTM Sales
₹1,208 Cr.
Book Value per Share
₹439.4
P/E Ratio
708.69
Industry PE
11.4
Price to Book (P/B)
2.74
Higher than its 5-year historical median
Price to Sales (P/S)
2.79
Higher than its 5-year historical median
EV/EBITDA
17.02
Higher than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
-2.22%
Underperforms industry median
Return on Capital Employed (ROCE)
0.61%
Underperforms industry median
Return on Assets (ROA)
-1.09%
Operating Profit Margin
12.2%
Net Profit Margin
-2.4%
Gross Profit Margin
9.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
20.8%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-30.77%
Net Profit Growth (1 Year)
-
-182.76%
Asset Quality
Promoter Holding
73.47%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,202 Cr.
Equity
₹28 Cr.
Face Value
₹10
All Time Low / High
₹2.05 / 1455.00

Dredging Corporation Of India stock performance

Key Ratios
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Check Before You Invest

Valuation

Somewhat Overvalued

Price Trend

Strong
Q.1 Is Dredging Corporation Of India Ltd a good quality company?
Dredging Corporation Of India Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Dredging Corporation Of India Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Dredging Corporation Of India Ltd vs industry peers?
Dredging Corporation Of India Ltd revenue CAGR is 8.78%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Dredging Corporation Of India Ltd?
Promoters hold 73.47% of the Dredging Corporation Of India Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Dredging Corporation Of India Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 11.2% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Dredging Corporation Of India Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 2.5%1.3%1.8%2.7%1.4%-7.6%1%-10.4%3.8%0.6%-
Value Creation
Index
-0.8-0.9-0.9-0.8-0.9-1.6-0.9-1.7-0.7-1.0-

Growth Parameters

Sales 6665855926927507648011,1659461,1421,208
Sales YoY Gr.--12.1%1.2%16.9%8.4%1.9%4.9%45.4%-18.8%20.8%-
Adj EPS 12.22.73.913.41.2-61.5-2.9-70.112.1-14.31.7
YoY Gr.--78.3%47.9%240.6%-91.4%-5449.6%NANANA-218.8%-
BVPS (₹) 536.4543.1551.5562.5560.8498.3502.6439448.3436.3439.4
Adj Net
Profit
34.17.41137.43.2-172-8.1-19633.7-40.15
Cash Flow from Ops. 15886.9138148117176205148191112-
Debt/CF from Ops. 6.49.45.94.44.72.41.31.92.98.2-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 6.2%8.8%12.6%20.8%
Adj EPS -201.8%-265.6%NA-218.8%
BVPS-2.3%-4.9%-4.6%-2.7%
Share Price 12% 24.5% 55.5% 52.3%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
2.30.50.72.40.2-11.6-0.6-14.92.7-3.20.4
Op. Profit
Mgn %
19.519.922.824.218.5-4.514.7-1.621.312.220.5
Net Profit
Mgn %
5.11.31.95.40.4-22.6-1-16.83.6-3.50.4
Debt to
Equity
0.70.50.50.40.40.30.20.20.40.80.7
Working Cap
Days
417477464354335317273214257199180
Cash Conv.
Cycle
22220314913815010813-7-1316-11

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales6665855926927507648011,1659461,142
Operating Expenses + 5364694575256117986831,1847441,002
Manufacturing Costs362334329385458621558868593738
Material Costs0000000000
Employee Cost 119959710494101959698101
Other Costs 5540313559773022052164
Operating Profit 130116135167139-34118-19202140
Operating Profit Margin (%) 19.5%19.9%22.8%24.1%18.5%-4.5%14.7%-1.6%21.3%12.2%
Other Income + 1514208932336
Exceptional Items 1100000170-118
Interest 18182018172012292838
Depreciation 93100113113117119120150141152
Profit Before Tax 4512224313-1705-19535-26
Tax 3555821121
Profit After Tax 42717386-1724-19633-27
PAT Margin (%) 6.3%1.3%2.9%5.5%0.7%-22.6%0.5%-16.8%3.5%-2.4%
Adjusted EPS (₹)15.02.76.113.62.0-61.51.3-70.111.9-9.8
Dividend Payout Ratio (%)20%0%32.70%22.10%0%0%0%0%0%0%

Valuation of Dredging Corp - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 1,5021,5211,5441,5751,5701,3951,4071,2291,2551,221
Share Capital 28282828282828282828
Reserves 1,4741,4931,5161,5471,5421,3671,3791,2011,2271,193
Debt +88570067252041229469208461798
Long Term Debt88570067252041229469113312669
Short Term Debt000000095149129
Minority Interest0000000000
Trade Payables67211180126130290375412265241
Others Liabilities 374278249238356285457478415388
Total Liabilities 2,8292,7102,6462,4602,4682,2642,3092,3282,3962,649

Fixed Assets

Net Fixed Assets +1,9281,8081,8171,7191,6541,6091,5801,5311,4301,343
Gross Block2,0213,1783,2673,2683,3353,4033,3873,4883,5283,592
Accumulated Depreciation941,3701,4501,5501,6811,7931,8071,9572,0982,249
CWIP 3826438812295344584
Investments 4444000000
Inventories133194193187208170160136117134
Trade Receivables342284238255251202210267175252
Cash Equivalents 132708289704994315048
Others Assets 252324270199276222235358280288
Total Assets 2,8292,7102,6462,4602,4682,2642,3092,3282,3962,649

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 15887138148117176205148191112
PBT 4512224313-1705-19235-23
Adjustment 101109117124128170140371198329
Changes in Working Capital 6011-1240518499-11-33-193
Tax Paid -16-1145-104-7-8-16-817
Cash Flow From Investing Activity + -17-8136-1-89-173-290-477
Capex -27-13-8-4-0-3-91-175-291-479
Net Investments 0000000000
Others 10598622212
Cash Flow From Financing Activity + -127-141-127-145-142-166-159-41118363
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -117-131-127-138-132-146-147-16147385
Interest Paid 00000-20-12-21-28-22
Dividend Paid -8-80-6-800000
Others -2-20-1-2-0-0-30-0
Net Cash Flow 14-62127-1910-43-6619-2

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)2.820.491.122.440.35-11.620.25-14.882.67-2.22
ROCE (%)2.51.261.792.71.41-7.630.96-10.383.820.61
Asset Turnover Ratio0.240.210.220.270.30.320.350.50.40.45
PAT to CFO Conversion(x)3.7612.438.123.8919.5N/A51.25N/A5.79N/A
Working Capital Days
Receivable Days196195.40161.10130.10123.30108.3093.7074.7085.3068.30
Inventory Days66.10102.10119.30100.2096.2090.4075.2046.3048.7040.10
Payable Days0000000000

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Dredging Corporation Of India Ltd FAQs

The current trading price of Dredging Corp on 04-Jun-2026 16:59 is ₹1,203.3.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of Dredging Corp stood at ₹3,369.1 Cr

The latest P/E ratio of Dredging Corp as of 03-Jun-2026 is 708.7.

The latest P/B ratio of Dredging Corp as of 03-Jun-2026 is 2.74.

The 52-week high of Dredging Corp is ₹1,254.9 and the 52-week low is ₹561.7.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Dredging Corp is ₹1,208 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Dredging Corporation Of India Ltd is a below average quality company.

The key valuation ratios of Dredging Corporation Of India Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Dredging Corporation Of India Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Dredging Corporation Of India Ltd

Dredging Corporation of India Limited (DCI) was established in the year 1976 to provide dredging services to the major ports of the country in India. DCI is a pioneer organization in the field of dredging and maritime development. DCI is fully equipped to offer the complete range of dredging and allied services to the users in India and abroad and to provide vital inputs for the national development. Its head office is strategically situated on the east coast of India at Visakhapatnam, DCI helps to ensure continuous availability of the desired depths in the shipping channels of the major and minor ports, Indian Navy, fishing harbors and other maritime organizations. It further serves the nation in a variety of ways, be it capital dredging for creation of new harbors, deepening of existing harbors or maintenance dredging for the upkeep of the required depths at various ports along the 7,500 Kms coastline of India.

In 1977, DCI was awarded a $10 million contract for the management of Yanbu Construction Port on the Red Sea, 350 km north-west of Jeddah, Kingdom of Saudi Arabia, for three years. DCI's services included pilotage, tugging, berthing, unberthing and mooring of ocean-going cargo ships, supervision of cargo-handling operations, maintenance and upkeep of port facilities and establishment of 0 & M services. In addition to this, DCI has efficiently performed stevedoring services at Yanbu Construction Support Port during 1981-83. During the period 2001-02 DCI executed shore pumping and reclamation works at Taichung Harber, Taichung Taiwan.

In September 2009, for the 18th consecutive year, Dredging Corporation of India has signed a memorandum of understanding with Government of India for the year 2009-10. The company expects the rating of 'Good' for the year 2008-2009.

Other facts about the company:

  • DCI owns most modern and sophisticated fleet consisting of two Cutter Suction Dredgers and Ten Trailer Suction Dredgers.
  • DCI is an MoU signing company with the government of India.
  • DCI is a schedule B & a Mini Ratna- Category-I public sector enterprise.
  • DCI is one among the public sector undertakings of India in which the government has disinvested its share holding. The shares of the company are listed at Delhi, Bombay, Calcutta & National Stock Exchanges of India.

DCI's provides services that include:

  • pilotage
  • tugging
  • berthing
  • unberthing and mooring of ocean-going cargo ships
  • supervision of cargo-handling operations
  • maintenance and upkeep of port facilities and
  • establishment of O & M services.

In addition to this, DCI has efficiently performed stevedoring services at Yanbu Construction Support Port during 1981-83. During the period 2001-02 DCI executed shore pumping and reclamation works at Taichung Harber, Taichung Taiwan.

Activities undertaken by the company

  • Maintenance Dredging The process of removing the accumulated material is called “Maintenance Dredging”.DCI is fully equipped to cater to the maintenance dredging requirements of all major Ports in India.
  • Capital Dredging The process of removing the “virgin” soil to create the designed depth in the water bodies/adjacent to water bodies is called “Capital Dredging”. DCI has two cutter suction dredgers to meet he capital dredging requirements in the India/abroad. A new cutter suction dredger of 2000 CuM per hr dredging capacity will join the DCI fleet during Oct-2004.
  • Beach Nourishment The process of deposition of sediments in the coastal line from the adjoining areas is called “Beach Noursihment” DCI ‘s Dredge-XII and Dredge-XIV are capable of shore pumping up to 2400m and Dredge-XVI and Dredge-XVII are capable of shore pumping up to 2500m and rain bowing facility.
  • Reclamation The process of raising the land level to create a artificial land either just below or adjacent to water bodies is called “Reclamation”. The fill material is generally used from the adjacent water bodies so as to improve the depth in the water bodies as well as to use to same for creation of land. DCI’s Cutter suction Dredgers, Dredge-XII, Dredge-XIV, Dredge-XVI and Dredge-XVII are capable for reclamation purposes.

Awards/ Achievements

  • DCI has achieved ISO 9001:2000 Certification for integrated dredging
  • DCI has been declared as a Mini Ratna – Category -1 Public Sector entyerprise by the Government of India

With a wide range of facilities and resources at its command, supported by an adequate complement of infrastructural facilities and a dependable base of know-how, DCI meets the dredging challenges not only in India but also in other countries. DCI has also been receiving enquiries for dredging in the Middle and South East.

Projects undertaken

Major maintenance dredging assignments executed

  • Kolkata Port Trust, Kolkata
  • New Mangalore Port Trust, Mangalore
  • Mormugao Port Trust, Goa
  • Jawaharlal Nehru Port Trust, Mumbai
  • Cochin Port
  • Kandla Port Trust,  Kandla
  • Mumbai Port Trust, Mumbai
  • Paradip Port Trust, Paradip
  • Visakhapatnam Port Trust, Visakhapatnam
  • Ennore Port Trust, Ennore
  • Indian Navy, Kochi
  • Indian Navy, Mumbai
  • Okha Port, Okha
  • Karwar Port, Karwar

Capital dredging assignments executed during the last ten years

  • Hazira
  • Mormugao Port Trust, Mormugao
  • Kolkata Port Trust, Kolkota
  • Cochin Port Trust, Kochi
  • Kakinada Port, Kakinada
  • Jawaharlal Nehru Port Trust, Mumbai
  • Paradip Port Trust, Paradip
  • New Mangalore Port Trust, Mangalore
  • Bharat Petrolium Corporation, JNPT, Mumbai
  • Visakhapatnam Port Trust, Visakhapatnam
  • Taichung Harbour, Taichung, Taiwan

Recent developments

Dredging Corporation of India has reported that on June 3, 2009 there was a fire accident on a Pontoon-TP-3, while undergoing cleaning and painting at Kolkatta Port Trust Jetty at Kolkata. Six people (2 belong to DCI and 4 belong to work shop, Dass Engineering works, Kolkata) got burn injuries and were admitted to Hospital and their condition is stated to be stable. The corporation has not suffered any operational loss due to the above incident.

Dredging Corporation of India received two survey launches in march 2009, built by the Chennai based Tebma Shipping Ltd. The launches were built by the company at a cost of Rs 16.9 crore with the instrumentation system costing Rs 4.6 crore.

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