MarketFriction

Dredging Corporation of India Ltd

NSE DREDGECORP · BSE 523618 · Dredging
₹895.20 -2.72%
NSE close2026-10-01
52 week range538.00 - 1,286.00
Market cap₹2,611 Cr.
P/E66.4
Price band 20% Delivery 47.3%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales198265278151204324462242212276478355
Expenses141197259139206272386195187243335294
Operating Profit57691912-2527747253314362
OPM %29%26%7%8%-0.7%16%17%19%12%12%30%17%
Other Income01112316-111121
Interest78771712173123112410
Depreciation333439373839384037483342
Profit before tax1728-26-31-331721-23-33-258712
Tax %4%2%1%1%2%4%-1%1%3%0%1%2%
Net Profit1727-26-31-341621-23-34-258711
EPS in Rs5.999.72-9.28-11.21-11.975.747.64-8.33-12.21-8.8031.044.01
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales6665855926927507648011,1659461,1271,2081,322
Expenses5364694575256117986831,1847449889611,059
Operating Profit130116135167139-34118-19202140248263
OPM %19%20%23%24%19%-4.5%15%-1.6%21%12%20%20%
Other Income26142076319332466
Interest181820181420122928388967
Depreciation93100113113117119120150141152158160
Profit before tax4512224313-1705-19535-26741
Tax %7%40%21%12%59%1%25%1%5%5%28%
Net Profit42717386-1724-19633-27539
EPS in Rs14.972.656.1213.581.97-61.521.28-70.0711.85-9.811.7014.04
Dividend Payout %20%0%33%22%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth6%10%1%7%
Compounded Profit Growth-17%15%27%206%
Stock Price CAGR9%21%25%47%
Return on Equity-2%-3%0%0%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital282828282828282828282828
Reserves1,4461,4741,4931,5161,5471,5421,3671,3791,2011,2271,1931,202
Borrowings1,0401,0138188096525524272732815589231,087
Other Liabilities270319333296236349444627817581518748
Total Liabilities2,7842,8342,6722,6492,4632,4712,2662,3072,3262,3952,6623,066
Fixed Assets1,8711,9281,8081,8171,7191,6541,6091,5801,5311,4301,3431,207
CWIP13826438812295344584894
Investments3044440000000
Other Assets882864834786733809645698791620736964
Total Assets2,7842,8342,6722,6492,4632,4712,2662,3072,3262,3952,6623,066
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity21215887138148117176205148191112142
Cash from Investing Activity-9-17-8136-1-89-173-290-477-368
Cash from Financing Activity-142-127-141-127-145-142-166-159-38118363321
Net Cash Flow6114-62127-1910-43-6319-295
Free Cash Flow19813174130148117173114-27-100-367-228
CFO/OP133%134%84%69%95%82%-534%181%-858%98%68%58%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days185188177147135122969684688271
Inventory Days
Days Payable
Cash Conversion Cycle185188177147135122969684688271
Working Capital Days17816120117815513122-90-98-88-20-56
ROCE %3%2%1%1%3%1%-8%0%-10%4%-0%4%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters73.47%73.47%73.47%73.47%73.47%73.47%73.47%73.47%73.47%73.47%73.47%73.47%
FIIs0.25%0.11%0.30%0.34%0.18%0.18%0.45%0.21%0.14%0.51%0.37%1.03%
DIIs6.36%5.30%5.14%5.09%5.63%6.60%6.60%6.25%6.63%8.15%8.31%6.68%
Government0.07%0.07%0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.04%0.04%
Public19.86%21.06%21.01%21.02%20.65%19.67%19.40%19.99%19.69%17.78%17.81%18.79%
No. of Shareholders50,17449,26445,57145,34648,62546,37946,26548,12847,60347,65148,53049,078

Fundamentals

Market Cap₹ 2,611 Cr.
Current Price₹ 933
Stock P/E66.4
Book Value₹ 444
ROCE4.28 %
ROE0.39 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)7%
Compounded Profit Growth (TTM)206%
Standalone figures.
Valuation
Market capRs 2,507 Cr
Enterprise valueRs 3,451 Cr
P/E (TTM)63.72x
Price to book2.04x
Price to sales1.90x
EV / EBITDA12.86x
EV / EBIT31.73x
EV / sales2.61x
Price to cash flow17.60x
Earnings yield1.57%
P/E, 3-year average255.20x
P/B, 3-year average1.51x
P/E, 5-year average252.33x
P/B, 5-year average1.16x
Profitability
Operating margin (excl. other income)20.50%
Operating margin (incl. other income)20.98%
EBITDA margin20.31%
Pre-tax margin3.13%
Net profit margin2.98%
Net margin, latest quarter3.16%
ROE0.39%
ROCE4.28%
ROA0.17%
ROE, 3-year average0.28%
ROCE, 3-year average2.90%
ROA, 3-year average0.16%
ROE, 5-year average-2.76%
ROCE, 5-year average-0.14%
ROA, 5-year average-1.57%
ROIC (approx.)3.62%
Tax rate27.66%
Other income / net worth0.47%
Growth
Sales growth (latest year)7.19%
Sales CAGR, 3 years1.22%
Sales CAGR, 5 years9.61%
Sales growth QoQ-25.68%
Profit growth QoQ-87.07%
Sales growth YoY (latest quarter)46.73%
Per share
EPS (TTM)Rs 14.05
EPS (latest year)Rs 1.70
EPS (latest quarter)Rs 4.01
EPS, 3-year averageRs 1.25
EPS, 5-year averageRs -13.01
Book value per shareRs 439.41
Sales per shareRs 471.98
Cash flow per shareRs 50.86
Free cash flow per shareRs -81.43
Efficiency
Asset turnover0.39x
Fixed asset turnover1.00x
Inventory turnover4.29x
Inventory days85 days
Debtor days71 days
Debtors turnover5.12x
Cash conversion cycle71 days
Working capital days-56 days
Leverage
Total debtRs 1,087 Cr
Cash and bankRs 143 Cr
Net debtRs 944 Cr
Debt to equity0.88x
Net debt / EBITDA3.52x
Interest coverage1.61x
Current ratio (filing 2026-03-31)0.96x
Quick ratio (filing 2026-03-31)0.78x
Trade payables (filing 2026-03-31)Rs 191 Cr
Owners' fund to total sources40.13%
Debt to assets35.47%
Cash flow
Cash from Operating Activity (latest year)Rs 142 Cr
Cash from Investing Activity (latest year)Rs -368 Cr
Cash from Financing Activity (latest year)Rs 321 Cr
Net Cash Flow (latest year)Rs 95 Cr
Free cash flow (latest year)Rs -228 Cr
FCFE (approx.: FCF + change in debt)Rs -63 Cr
Sales to cash flow8.49x
Statement figures
Net sales (TTM)Rs 1,322 Cr
Net sales (latest year)Rs 1,208 Cr
Sales (latest quarter)Rs 355 Cr
Operating profit excl. other income (latest year)Rs 248 Cr
Operating profit (latest quarter)Rs 62 Cr
Other income (TTM)Rs 6 Cr
EBITDA (TTM)Rs 268 Cr
PBDT (TTM)Rs 201 Cr
Profit before tax (TTM)Rs 41 Cr
Tax (latest year)Rs 2 Cr
Net profit (TTM)Rs 39 Cr
Net profit (latest year)Rs 5 Cr
Net profit (latest quarter)Rs 11 Cr
Depreciation (TTM)Rs 160 Cr
Depreciation (latest quarter)Rs 42 Cr
Interest (TTM)Rs 67 Cr
Cost of goods sold (latest year)Rs 756 Cr
Total expenditure (latest year)Rs 961 Cr
Total income (latest year)Rs 1,214 Cr
Share capitalRs 28 Cr
ReservesRs 1,202 Cr
Shareholders' fundsRs 1,230 Cr
Total assetsRs 3,066 Cr
Net blockRs 1,207 Cr
Capital work in progressRs 894 Cr
ReceivablesRs 236 Cr
InventoryRs 176 Cr
Other liabilitiesRs 748 Cr
Shares outstanding (crore)2.80
Ownership
Promoter holding73.47% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 63.7 is at the 24th percentile of its own 5.9-year range (median 121.0, low 10.7, high 338.9).
P/B 2.04 is at the 88th percentile (median 0.80).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodDREDGECORPNifty 50Difference
1 week-10.2%-2.8% -7.4 pts
1 month-16.9%-6.8% -10.1 pts
3 months-16.9%-7.6% -9.3 pts
6 months+16.5%+0.4% +16.1 pts
1 year+34.0%-9.9% +44.0 pts
2 years-0.3%-13.6% +13.3 pts
3 years+87.7%+14.2% +73.5 pts
5 years+153.6%+27.9% +125.7 pts
5 mutual fund schemes hold about ₹177 Cr. Over three months 5 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Invesco India PSU Equity Fund6.56%95 +64%
Invesco India Infrastructure Fund3.30%51 +23%
Invesco India Flexi Cap Fund0.23%13 +12%
Invesco India Multicap Fund0.27%12 +15%
WOC Special Opp Fund0.29%6 +7%

Red flags

F-score 6 of 8
explainLow interest cover Interest cover 1.1x in 2026
lookProfit leans on other income Other income was 88% of pre-tax profit in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹355 Cr +46.7% vs Jun 2025. Net profit ₹11 Cr +147.8%.
Against our estimate for Jun 2026: sales +55.5%, profit +151.9% beat. Our estimate for Sep 2026: sales Rs 265 Cr, profit Rs -8 Cr (how).

Activity

Compare
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Knowledge Marine & Engineering Works Ltd7,77460.016.3 %
No bulk or block deals on record.
Ex-dateActionFactor
2024-09-19Annual General Meeting
2023-09-18Annual General Meeting
2023-06-20Extra Ordinary General Meeting
2023-04-20Extra Ordinary General Meeting
2022-12-14Annual General Meeting
2021-12-09 Annual General Meeting
2020-12-14 Annual General Meeting
2019-07-31 Dividend - Rs 3 Per Share
2018-08-03 Annual General Meeting/Dividend- Rs 2 Per Share
2017-08-23 Annual General Meeting
2016-09-22 Annual General Meeting/Dividend - Rs 3/- Per Share
2015-09-22Annual General Meeting/Dividend - Rs 3/- Per Share (Book Closure Dates Revised)
2014-09-11Annual General Meeting / Dividend - Rs 3/- Per Share (Bc Start Date Revised)
2013-09-12Annual General Meeting/Dividend Rs 2/- Per Share
2012-09-18Annual General Meeting
2011-08-30Annual General Meeting
2010-08-17Annual General Meeting And Dividend Rs.3/- Per Share
2009-09-02Dividend-Rs.5/- Per Share
2008-09-05Agm/Div-Rs.7.50 Per Share
2008-03-07Interim Dividend - 75%
2007-09-06Agm/Fin Div-Rs.9/- Per Sh
2007-02-28Interim Dividend-60% Purpose Revised
2006-09-06Agm/Div-Rs.9/- Per Sh
DateTypeWhat it says
2026-09-25Press ReleaseA press release dated September 25, 2026, titled "50th AGM Press release".
2026-09-25Shareholder meetingVoting results.
2026-09-24Shareholder meetingProceedings of Annual General Meeting held on September 24, 2026
2026-09-15AppointmentAppointment of Mr. Susanta Kumar Purohit as Non- Executive Director of the company w.e.f. September 14, 2026.
2026-09-11General UpdatesGeneral Updates
2026-09-04CessationCessation of Mr P L HARANADH as Non- Executive and Non- Independent Director of the company w.e.f. September 01, 2026.
2026-09-04AppointmentAppointment of SUSANTA KUMAR PUROHIT, IRSEE as Non- Executive and Non- Independent Director of the company w.e.f. September 04, 2026.
2026-09-01General UpdatesGeneral Updates
2026-09-01General UpdatesGeneral Updates
2026-09-01Record DateRecord date for the purpose of Meeting is 18-Sep-2026.
2026-09-01Shareholder meetingNotice of 50th Annual General Meeting to be held on September 24, 2026
2026-09-01General UpdatesGeneral Updates
2026-08-09Shareholder meetingVoting results.
2026-08-05Press ReleaseA press release dated August 04, 2026, titled "DCIL delivers remarkable Q1 turnover with 46.73% growth in operational income and return to profitabili...
2026-08-04Board meeting outcomeDredging Corporation of India Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-03General UpdatesGeneral Updates
2026-07-15Statement of deviation(s) orStatement of deviation(s) or variation(s) under Reg. 32
2026-07-06Shareholder meetingNotice of Postal Ballot - Appointment of Shri Jasmeet Singh Bindra, IRTS as Director and Chairman of the Company w.e.f 09.06.2026
2026-06-09AppointmentAppointment of Shri Jasmeet Singh Bindra, IRTS as Chairman of the company w.e.f. Jun 09, 2026.
2026-06-02Shareholder meetingVoting results.
2026-05-23General Updates- Appointment of Shri Jasmeet Singh Bindra, IRTS as Chairman of Visakhapatnam Port Authority
2026-05-19Press ReleaseA press release dated May 19, 2026, titled "Dredging Corporation of India Scripts History with Highest Ever Annual Turnover in FY 2025 26, Creating a ...
2026-05-19Related Party TransactionsRelated Party Transactions for the quarter ended 31.03.2026
2026-05-19Board meeting outcomeDredging Corporation of India Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-12General UpdatesGeneral Updates -Intimation of withdrawl for resignation submitted by Smt. P Uma Gandhi to the post of General Manager (Finance) of the Company
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Dredging Corporation of India Ltd?

Dredging Corporation of India Ltd (DREDGECORP) has a market capitalisation of Rs 2,611 Cr. at the 2026-10-01 close.

What is the P/E ratio of Dredging Corporation of India Ltd?

Dredging Corporation of India Ltd trades at a P/E of 66.4 on trailing twelve-month profit, at the 2026-10-01 close.

What were Dredging Corporation of India Ltd's latest quarterly results?

In the Jun 2026 quarter, Dredging Corporation of India Ltd sales was Rs 355 Cr (+46.7% vs Jun 2025) and net profit was Rs 11 Cr.

What is the 52-week high and low of Dredging Corporation of India Ltd?

The 52-week high is Rs 1,286.00 and the 52-week low is Rs 538.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03