Dredging Corporation of India Ltd Share Price – NSE  / BSE

Miscellaneous, Small Cap

Dredging Corporation of India has postponed the meeting of the Board of Directors which was scheduled to be held on 14 May 2025. The meeting will now be held on 20 May 2025.

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Dredging Corporation of India will hold a meeting of the Board of Directors of the Company on 14 May 2025.

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The company added that these appointments were based on the recommendation of the Nomination and Remuneration Committee.

P Uma Gandhi is a qualified cost accountant as well as a qualified chartered accountant and holds a postgraduate graduate degree in commerce, a master's degree in business administration with a specialization in finance, and a graduate degree in law. Uma has rich and diverse experience with companies engaged in trading, manufacturing, and educational institutions of national importance. She was also a practicing Cost Accountant.

Uma has more than 24 years of experience in the areas of finance and accounting, encompassing various roles in treasury management, budgeting, cost management accounting, commercial finance, and MIS support for decision-making. She has served organizations such as Varun Motors, National Thermal Power Corporation, Hindustan Shipyard, Indian Institute of Management Visakhapatnam, and Rashtriya Chemicals and Fertilizers. Gandhi has always prioritized investing in human capital by collaborating across functions.

Meanwhile, the company?s board of directors said it has approved the extension of the tenure of Durgesh Kumar Dubey, who has been appointed as managing director & CEO of the company, effective 16 April 2024. His term of appointment will be extended until a new incumbent joins the post of Managing Director and CEO, or for a period of six more months, effective from 16 April 2025, i.e., until 15 October 2025, or until further orders, whichever is earlier, subject to regularization by the shareholders in the next Annual General Meeting or through postal ballot within three months, whichever is earlier.

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

The company has reported a 41.02% drop in net profit to Rs 16.06 crore in Q3 FY25, compared to Rs 27.23 crore posted in the same quarter last year. Revenue from operations rose by 22.24% year on year (YoY) to Rs 324.44 crore in the December 2024 quarter.

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Revenue from operations rose by 22.24% year on year (YoY) to Rs 324.44 crore in the December 2024 quarter.

Profit before exceptional items and tax in Q3 FY25 was at Rs 18.36 crore, down 33.74% from Rs 27.71 crore recorded in Q3 FY24. Exceptional loss stood at Rs 1.59 crore in Q3 FY25.

Total expense jumped 35.57% year on year to Rs 323.38 crore during the quarter. Employee benefits expense stood at Rs 23.72 crore (down 1.04% YoY), while other expenses stood at Rs 159.42 crore (up 63.83% YoY) during the period under review.

On a 9-month basis, the company’s net loss stood at Rs 48.85, compared to a net profit of Rs 59.15 crore in 9M FY24. Revenue from operations advanced 1.82% YoY to Rs 679.73 crore in the quarter ended 31 December 2024.

Dredging Corporation of India carries out dredging activities including capital dredging, maintenance dredging, as well as beach nourishment and land reclamation for Indian ports and the Navy. The consortium of four port trusts—Jajaharlal Nehru Port Trust, Deendayal Port Trust, Paradip Port Trust, and Visakhapatnam Port Trust—currently holds a 73.47% shareholding in the company, with the remaining being held by the public.

Shares of Dredging Corporation added 3.10% to Rs 719.90 on the BSE.

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