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Dredging Corporation of India

DREDGECORP NSE
₹879.30 +28.00 (+3.29%)
P/E
62.63
View as Markdown
MCP
Close 4 Nov 2026 ₹879.30 +5.40 +0.62% 1Y
Start ₹873.90

Key Fundamentals

MicrocapEngineering ServicesServices

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
4.28%
Debt to Equity
0.88
EPS (TTM)
₹14.04
Book Value
₹444.48
Market Cap
—
P/E (TTM)
62.63
P/B
1.98
ROE
0.39%
Dividend Yield
0.00%
EBITDA
₹254 Cr
52W High
₹1,286.00
52W Low
₹740.00
Day Range
₹845.00 – ₹884.00
Volume
39,914

Peer Comparison

Services › Engineering Services › Dredging

Dredging Corporation of India peer comparison
Knowledge Marine & Engineering Works
₹3,329.9062.30₹8,138 Cr11.550.00%20.00%16.30%₹323 Cr₹132 Cr
Dredging Corporation of India (this company)
₹879.3062.63₹2,439 Cr1.980.00%0.39%4.28%₹1,322 Cr₹39 Cr
Median 2 companies₹2,104.6062.47₹5,289 Cr6.770.00%10.20%10.29%₹823 Cr₹86 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

39 Weak

Data confidence 100/100

Category scores

Quality
50
Average
Returns, margins, earnings quality 22% weight
Valuation
28
Poor
Cheap vs sector & own history 24% weight
Growth
34
Poor
Sales & profit trajectory 9% weight
Financial Health
18
Poor
Solvency, leverage, coverage 9% weight
Momentum
23
Poor
Trend strength, vol-adjusted 12% weight
Ownership
55
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

No strengths listed

Weaknesses

3
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 9.61% over past five years.
  • Company has a low return on equity of -0.21% over last 3 years.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish856
OscillatorsNeutral252
Moving AveragesStrong Bearish604

Key readings

RSI (14)
48.29
Neutral
MACD (12,26,9)
−31.22
Bullish
SMA (50)
958.65
Bearish
SMA (200)
1,003.53
Bearish

As of

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+6.14%
5Y+9.60%
3Y+1.22%
1Y+7.19%
TTM+7.22%

Net profit

Net profit growth by window
10Y−19.17%
5YTurned to profit
3YTurned to profit
1YTurned to profit
TTMTurned to profit

Operating cash flow

Operating cash flow growth by window
10Y−1.06%
5Y−4.20%
3Y−1.37%
1Y+26.79%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+1.01 pp
5Y+24.98 pp
3Y+22.16 pp
1Y+8.11 pp
TTM+5.79 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹585 Cr
Mar 2018₹592 Cr
Mar 2019₹692 Cr
Mar 2020₹750 Cr
Mar 2021₹764 Cr
Mar 2022₹801 Cr
Mar 2023₹1,165 Cr
Mar 2024₹946 Cr
Mar 2025₹1,127 Cr
Mar 2026₹1,208 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹7.00 Cr
Mar 2018₹17.00 Cr
Mar 2019₹38.00 Cr
Mar 2020₹6.00 Cr
Mar 2021−₹172 Cr
Mar 2022₹4.00 Cr
Mar 2023−₹196 Cr
Mar 2024₹33.00 Cr
Mar 2025−₹27.00 Cr
Mar 2026₹5.00 Cr

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high

Dredging Corporation of India Ltd trades at a market cap of ₹3,041 Cr with an extremely elevated P/E of 632.4x, reflecting minimal profitability despite a 110% TTM profit growth off a very low base. The company has delivered weak long-term returns on equity averaging around 0% over three years and -3% over five years, while the stock price has appreciated 54% in the last one year driven largely by sentiment rather than fundamentals.

Bull Case 7
  • TTM profit growth of 110% indicates a sharp turnaround from near-zero or negative earnings in prior periods
  • Stock CAGR of 54% over 1 year reflects strong market momentum and investor interest in the infrastructure/services theme
  • 3-year stock CAGR of 43% significantly outperforms broader market returns over the same period
  • 5-year compounded sales growth of 10% shows the company has been able to grow its topline at a reasonable pace
  • TTM sales growth of 6% indicates continued revenue traction in the current period
  • 5-year compounded profit growth of 15% suggests gradual improvement in earnings trajectory over medium term
  • As a government-owned dredging entity, the company benefits from sovereign project pipelines in port development and waterway expansion with limited private competition
Bear Case 8
  • P/E ratio of 632.4x is extraordinarily high, implying the stock is priced for perfection with negligible current earnings support
  • 3-year average ROE of approximately 0% and 5-year ROE of -3% indicate persistent inability to generate meaningful shareholder returns
  • Low interest coverage ratio signals potential stress in servicing debt obligations from operating profits
  • 5-year sales CAGR of only 9.6% reflects poor topline growth for a company in the infrastructure services space
  • Zero dividend yield means shareholders receive no income return despite the company being a PSU
  • 10-year compounded profit growth of -17% shows long-term structural earnings deterioration
  • P/B ratio of 2.45x is elevated for a company with near-zero or negative returns on equity, suggesting the market is pricing in expectations well beyond current fundamentals
  • 3-year compounded sales growth of just 1% indicates near-stagnation in revenue during the recent period

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

121d ago

TL;DR: A quiet period for Dredging Corporation of India with no material business developments — only routine governance actions including a new Chairman appointment and standard trading window closure ahead of quarterly results. No operational or financial updates provide directional signals. Investors should watch for Q1FY27 results for clarity on revenue traction and order pipeline.

Neutral 2
  • New Chairman Bindra appointed Jun 9

    Jasmeet Singh Bindra, a 1996 batch IRTS officer with transportation and logistics experience, appointed as Additional Director and Chairman effective June 9, 2026. Shareholder approval sought via postal ballot with e-voting from July 8 to August 7, 2026.

  • Trading window closed for Q1FY27 Jun 23

    DCI closed its trading window from July 1, 2026, until 48 hours after Q1FY27 results are announced to comply with insider trading regulations.

Quarterly Results

₹ Cr
DREDGECORP quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
204
198
265
278
151
204
324
462
242
212
276
478
355
Expenses
148
141
197
259
139
206
272
386
195
187
243
335
294
Operating Profit
56
57
69
19
12
−2
52
77
47
25
33
143
62
OPM %
28%
29%
26%
7%
8%
−0.7%
16%
17%
19%
12%
12%
30%
17%
Other Income
1
0
1
1
1
23
17.31
−1
1
1
1
2
1
Interest
7
7
8
7
7
17
12
17
31
23
11
24
10
Depreciation
35
33
34
39
37
38
39
38
40
37
48
33
42
PBT
16
17
28
−26
−31
−33
17
21
−23
−33
−25
87
12
Tax %
3%
4%
2%
1%
1%
2%
4%
−1%
1%
3%
0%
1%
2%
Net Profit
15
17
27
−26
−31
−34
16
21
−23
−34
−25
87
11
EPS (₹)
5.41
5.99
9.72
−9.28
−11.21
−11.97
5.74
7.64
−8.33
−12.21
−8.8
31.04
4.01

Profit & Loss

₹ Cr
DREDGECORP profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
735
666
585
592
692
750
764
801
1,165
946
1,127
1,208
1,322
Expenses
561
536
469
457
525
611
798
683
1,184
744
988
961
1,059
Operating Profit
174
130
116
135
167
139
−34
118
−19
202
140
248
263
OPM %
24%
19%
20%
23%
24%
19%
−4.5%
15%
−1.6%
21%
12%
20%
20%
Other Income
10
26
14
20
7
6
3
19
3
3
24
6
6
Interest
26
18
18
20
18
14
20
12
29
28
38
89
67
Depreciation
92
93
100
113
113
117
119
120
150
141
152
158
160
PBT
65
45
12
22
43
13
−170
5
−195
35
−26
7
41
Tax %
4%
7%
40%
21%
12%
59%
1%
25%
1%
5%
5%
28%
—
Net Profit
62
42
7
17
38
6
−172
4
−196
33
−27
5
39
EPS (₹)
22.29
14.97
2.65
6.12
13.58
1.97
−61.52
1.28
−70.07
11.85
−9.81
1.7
14.04
Div. Payout %
13%
20%
0%
33%
22%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
DREDGECORP balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
28
28
28
28
28
28
28
28
28
28
28
28
Reserves
1,446
1,474
1,493
1,516
1,547
1,542
1,367
1,379
1,201
1,227
1,193
1,202
Borrowings
1,040
1,013
818
809
652
552
427
273
281
558
923
1,087
Other Liabilities
270
319
333
296
236
349
444
627
817
581
518
748
Total Liabilities
2,784
2,834
2,672
2,649
2,463
2,471
2,266
2,307
2,326
2,395
2,662
3,066
Fixed Assets
1,871
1,928
1,808
1,817
1,719
1,654
1,609
1,580
1,531
1,430
1,343
1,207
CWIP
1
38
26
43
8
8
12
29
5
344
584
894
Investments
30
4
4
4
4
0
0
0
0
0
0
0
Other Assets
882
864
834
786
733
809
645
698
791
620
736
964
Total Assets
2,784
2,834
2,672
2,649
2,463
2,471
2,266
2,307
2,326
2,395
2,662
3,066

Cash Flow

₹ Cr
DREDGECORP cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
212
158
87
138
148
117
176
205
148
191
112
142
Investing
−9
−17
−8
1
3
6
−1
−89
−173
−290
−457
−302
Financing
−142
−127
−141
−127
−145
−142
−166
−159
−38
118
363
321
Net Cash Flow
61
14
−62
12
7
−19
10
−43
−63
19
18
161
Free Cash Flow
198
131
74
130
148
117
173
114
−27
−100
−367
−228
CFO/OP
133
134
84
69
95
82
−534
181
−858
98
68
58

Ratios

DREDGECORP financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
185
188
177
147
135
122
96
96
84
68
82
71
Cash Conversion Cycle
185
188
177
147
135
122
96
96
84
68
82
71
Working Capital Days
178
161
201
178
155
131
22
−90
−98
−88
−20
−56
ROCE %
3%
2%
1%
1%
3%
1%
−8%
0%
−10%
4%
0%
4%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Dredging Corporation of India insights

63 extracted metrics across FY11–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 73.47%
  • Public 15.45%
  • DIIs 7.46%
  • Others 2.83%
  • FIIs 0.75%
  • Government 0.04%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Documents

Frequently Asked Questions about Dredging Corporation of India

What does Dredging Corporation of India Ltd do?
Dredging Corporation of India Limited (DCI) is engaged in providing integrated dredging services to ports, Indian Navy and other maritime organizations in India.
Where is Dredging Corporation of India Ltd (DREDGECORP) listed?
Dredging Corporation of India Ltd trades as DREDGECORP on the NSE and under code 523618 on the BSE.
Which sector does Dredging Corporation of India Ltd belong to?
Dredging Corporation of India Ltd is classified under the Engineering Services sector, in the Dredging industry.
What is the PE ratio of Dredging Corporation of India Ltd?
Dredging Corporation of India Ltd trades at a PE ratio of 62.63 as of 4 Nov 2026, on earnings per share of ₹14.04, against a book value of ₹444.48 per share.
What is the 52-week high and low of Dredging Corporation of India Ltd?
Over the last 52 weeks Dredging Corporation of India Ltd has traded between ₹740 and ₹1,286 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Dredging Corporation of India Ltd?
Dredging Corporation of India Ltd reported a return on equity of 0.39%. Its debt-to-equity ratio is 0.88.

Company Information

Dredging Corporation of India Limited (DCI) is engaged in providing integrated dredging services to ports, Indian Navy and other maritime organizations in India.

Website dredge-india.com
CEO Ms. P. Uma Gandhi
Employees 236
Listed 15 Jan 2004
Face Value ₹10

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