Dredging Corporation of India Ltd

Financial highlights FY2025-26

• Revenue from operations: f1,208.33 crore in FY2025-26.
• Total income: f1,214.10 crore in FY2025-26.
• PAT turned profitable at f4. 75 crore, versus a loss of f27.46 crore prior year.
• Operating profit margin rose to 16.84% from 12.33%.

Strategic and fleet developments

• Fleet modernisation includes 11 new dredgers planned over five years, estimated ₹3,560 crore.
• Dredge Godavari, 12,000 m3 TSHD, launched Oct 2025; joining FY2026-27.
• During India Maritime Week 2025, 22 MoUs with 16 organisations valued ₹17,645 crore.
• Five-year maintenance dredging contracts secured for Mumbai Harbour and JN Port channels.
• Rights issue contemplated of about ₹1,000 crore.
• Debentures of ₹111.48 crore issued to Cochin Shipyard Limited.
• Exploring dry-docking and ship repair collaborations with yards.
• Digital upgrades include real-time monitoring and RFID inventory management.
• FY2025-26 safety: nil LTIFR, nil injuries, nil fatalities.

Governance and capital actions

• Golden Jubilee milestone; theme 'Forging New Depths of Progress. 50 Years Strong. Future Ready'.
• Rights issue and debt funding planned to support capacity expansion.
• Strong governance, safety and environmental frameworks underpin operations.
• New generation fleet investments align with India’s maritime growth.

Outlook and growth initiatives

• Looking ahead, DCI prioritises fleet availability, utilisation and capacity growth.
• Company to pursue opportunities domestically and internationally, leveraging partnerships.
• Commitment to safety, sustainability and regulatory compliance remains central.

AGM details

• AGM held on 24-09-2026 at 11:00 AM via VC/OAVM.
• Remote e-voting from 21-09-2026 09:00 to 23-09-2026 17:00; cutoff 17-09-2026.
• Book closure from 18-09-2026 to 24-09-2026.
• Total shareholders on record: 49,858.
• Promoter group presence: 1; Public attendees: 60.

Resolutions

• Adopt Audited Standalone Financial Statements for year ended March 31, 2026.
• Re-appoint Shri Sushil Kumar Singh as Director by rotation.
• Fix remuneration of Statutory Auditors for FY 2026-27.

Voting results

• Resolution 1 passed with 99.998% in favour.
• Resolution 2 passed with 92.71% in favour; 7.29% against.
• Resolution 3 passed with 99.998% in favour.

Governance actions

• Director re-appointment approved as per rotation.
• Statutory Auditor remuneration for FY2026-27 to be fixed.

Dredging Corporation of India Limited — Trading window closed from 01/10/2026 upto 48 hours after announcement of financial results for the quarter ended 30/09/2026

AGM Details

• Date and time: 24 September 2026 at 11:00 Hrs; mode: VC/OAVM.

Key Resolutions

• Adopt audited standalone financial statements for year ended 31 March 2026.
• Re-appoint Shri Sushi Kumar Singh by rotation as Director.
• Fix remuneration of statutory auditors for FY 2026-27.

Voting Status

• Voting results will be announced by 26 September 2026.

Dividend

• Dividend proposal not mentioned in proceedings.

Directors

• Director re-appointment by rotation: Shri Sushi Kumar Singh.

Auditors

• Remuneration of statutory auditors for FY 2026-27 to be fixed.

New Appointment: Additional Director

• Appointment of Shri Susanta Kumar Purohit as Additional Director (Promoter Non-Executive & Non-independent) approved.
• Effective date: 14 September 2026; term until AGM or three months by postal ballot, whichever earlier.
• Appointment subject to DIN or consent; board approval via Resolution by Circulation.
• Profile: IRSEE, BE Electrical; former Chairperson of Paradip Port Authority and V.O. Chidambaranar Port Authority.
• Experience includes Indian Railways, Department of Chemicals & Petrochemicals, and public administration.
• No disclosed directorships in other companies.

Award announcement

• DCIL wins 2026 Dredging Company of the Year at ET Global Ports and Shipping Awards.
• Award recognises five decades of service and fleet growth to over ten dredgers.
• MD and CEO Capt. S. Divakar accepted the award on behalf of DCIL.
• DCIL thanks promoter ports for continued trust and the Ministry of Ports for guidance.
• Celebrates Golden Jubilee in five decades of service.

Financial performance

• Revenue from operations ₹1,208.33 crore in FY2025-26.
• Total income ₹1,214.10 crore; PAT ₹4.75 crore.
• Operating margin rose to 16.84% from 12.33%.
• EPS ₹5.28; profitability returned after prior-year loss.
• Cash from operations ₹14.24 crore; debt/equity 0.88x.

Fleet & capabilities

• Fleet includes 10 TSHDs, 1 CSD, 1 Back Hoe, 1 Inland Cutter.
• DCI Godavari, 12,000 m3 TSHD, launched Oct 2025; join FY2026-27.
• Indigenously built dredgers under Atmanirbhar Bharat; 11 new dredgers planned.
• 22 MoUs with 16 organisations; value ~₹17,645 crore; 2-5 year terms.
• DCI accounts for nearly 80% of India’s maintenance dredging.

Capital structure & liquidity

• Authorized share capital raised to ₹60 crore; paid-up remains ₹28 crore.
• Issued secured non-convertible debentures of ₹111.48 crore to Cochin Shipyard.
• Rights issue under consideration: about ₹1,000 crore.
• Total borrowings ₹108,748.94 lakh; cash ₹14,287.69 lakh.
• Net debt to equity ratio 0.88x.

Governance & audit flags

• Golden Jubilee celebrated March 2026; five-decade milestone.
• CAG Emphasis of Matter: Dredger XI asset held for sale; disposal in progress.
• Regulatory fines: NSE/BSE penalties; waivers sought; some settlements already paid.
• Multiple board changes in 2025-26; new independent directors joined.
• Audit Committee chaired by independent director; several governance enhancements.

ESG & CSR highlights

• MARPOL compliance; ISO 9001 and 14001; MLC-2006.
• LTIFR nil; no fatalities; strong safety and environmental systems.
• Zero liquid discharge; STPs in vessels; adherence to MARPOL.
• CSR policy in website; CSR spend reported as nil for 2025-26.
• Female independent director appointed in March 2026; board gender diversity improving.

Projects & strategic partnerships

• India Maritime Week 2025 yielded 22 MoUs with 16 partners.
• MoUs target capacity expansion across ports, shipyards and technology hubs.
• MoUs valued around ₹17,645 crore; durations up to 5 years.
• Mumbai Harbour and JN Port channels maintenance contract awarded 2025-30.
• Inland waterways and coastal infrastructure projects under review for long-term visibility.

Outlook & strategic priorities

• Plan to induct 11 new dredgers over five years; indicative ₹3,560 crore.
• DCI Godavari to enhance capacity; supports larger, deeper dredging.
• Pursue 5-10 year dredging contracts for capacity planning.
• Strengthen domestic shipbuilding; expand inland waterways and reservoir desiltation.
• Golden Jubilee roadmap aims for global leadership by 2047.

AGM Details

• AGM date/time/mode: 24 September 2026 at 11:00 Hrs via VC/OAVM
• Mode: VC/OAVM; deemed venue at the registered office
• Record/Book closure: 18 September 2026 to 24 September 2026
• Remote e-voting window: 21 September 2026 to 23 September 2026
• Dividend for 2025-26: none proposed

Resolutions Put to Vote

• Ordinary: Adoption of Audited Standalone Financial Statements for year ended 31 March 2026
• Ordinary: Re-appointment of Shri Sushil Kumar Singh, retiring by rotation as Director
• Ordinary: Remuneration of Statutory Auditors for Financial Year 2026-27

Voting Results

• Voting outcomes not disclosed in this filing

Dividend

• Dividend for 2025-26 not proposed; previous dividend history noted (2018-19 ₹3 per share)

Director Changes & Key Appointments

• MD & CEO appointed: Divakar Sanamandra, effective around Oct 2025; confirmed as full-time CEO Mar 2026
• Independent Directors appointed: Vinod Pipersenia, Sanjay Pant, Rajiv Jalota in 2025; Krishna Das in 2026
• Other changes: several resignations/cessations (May 2025–Feb 2026); new chairperson appointed in mid-2026

Auditor Appointments

• Statutory Auditor: M/s Grandhy & Co.; remuneration for 2026-27 approved; total remuneration ₹9.8 Lakhs
• Secretarial Auditor: M/s Agarwal S. & Associates; appointment noted

Material Related Party Transactions

• Promoter port-related party transactions approved for 2026-27; four ports as related parties
• Caps: Visakhapatnam Port Authority up to ₹300 crore; Paradip Port up to ₹500 crore
• Jawaharlal Nehru Port Authority up to ₹600 crore; Deendayal Port Authority up to ₹500 crore

Other Material Approvals

• Authorized share capital increased from ₹30 crore to ₹60 crore
• Proposed rights issue around ₹1,000 crore; under discussion, not yet executed
• Related Party Transaction Policy last updated 2016; to be reviewed/updated

Filing purpose and regulatory context

• Submission of BRSR for FY2025-26 under SEBI Listing Regulations.
• Standalone reporting boundary; no holdings, subsidiaries, or associates.
• Second Amendment Regulation, 2021 applicability referenced.

ESG metrics snapshot

• Scope 1 emissions: 107.92 MT CO2e; Scope 2: 61 MT CO2e.
• Scope 3 emissions: 107,915.96 MT CO2e.
• Total energy: 2,136.89 GJ; non-renewable sources.
• Water withdrawal: 32,231 KL; water intensity 0.00000262 per turnover.

Governance, compliance and stakeholder engagement

• No adverse regulatory orders in FY2025-26; no penalties.
• CSRSSC oversees sustainability; MD & CEO Captain S. Divakar (DIN 09675405).
• Affiliations: FICCI, Maritime Union of India, NUSI, INSA, National Maritime Board.