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Swing Capital

Dredging Corporation of India Ltd

NSE: DREDGECORP BSE: 523618

Dredging Corporation of India Limited (DCI) is engaged in providing integrated dredging services to ports, Indian Navy and other maritime organizations in India.[1]

₹862
52W: ₹538 — ₹1246
PE 0 · Book ₹405 · +113% vs book
Market Cap₹2,414 Cr
Stock P/E—Price to Earnings
ROCE0.31%Return on Capital
ROE3.67%Return on Equity
Div. Yield0%Face Value ₹10

Weaknesses

  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of 8.78% over past five years.
  • −Company has a low return on equity of -5.47% over last 3 years.
  • −Company might be capitalizing the interest cost

Shareholding Pattern

Promoters73.47%
FIIs0.37%
DIIs8.31%
Public17.81%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters73.47%73.47%73.47%73.47%73.47%73.47%73.47%73.47%
FIIs0.34%0.18%▼0.20.18%0.45%▲0.30.21%▼0.20.14%▼0.10.51%▲0.40.37%▼0.1
DIIs5.09%5.63%▲0.56.6%▲1.06.6%6.25%▼0.36.63%▲0.48.15%▲1.58.31%▲0.2
Public21.02%20.65%▼0.419.67%▼1.019.4%▼0.319.99%▲0.619.69%▼0.317.78%▼1.917.81%▲0.0

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales198265278151204324462242212276
Expenses141197259139206272386195187243
Operating Profit57691912-25277472533
OPM %29%26%7%8%-1%16%17%19%12%12%
Net Profit1727-26-31-341621-23-34-25
EPS ₹5.999.72-9.28-11.21-11.975.747.64-8.33-12.21-8.8

AI Insights

Revenue Trend

TTM revenue at ₹1,193Cr, up 4.5% YoY. OPM at 15%.

Debt Position

Borrowings at ₹1,059Cr. Debt-to-equity ratio: 0.94x. Moderate leverage.

Capex Cycle

CWIP at ₹728Cr (57% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 8.31% (+1.19pp change). FIIs: 0.37% (+0.22pp change). Promoters hold 73.47%.

Margin & Efficiency

ROCE declining from 2% (Mar 2014) to 0% (Mar 2025). Working capital days: -19.

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