Dredging Corporation of India Limited has announced the successful completion of its postal ballot process, with shareholders approving all five proposed resolutions with overwhelming support. The company disclosed the voting results in compliance with Regulation 44(3) of SEBI (LODR) Regulations, 2015, following the conclusion of the remote e-voting process on 31/03/2026.

Postal Ballot Process and Timeline

The remote e-voting facility was made available to eligible shareholders from 02/03/2026 at 09:00 hours to 31/03/2026 at 17:00 hours. The cut-off date for determining eligible shareholders was set as 20/02/2026, in accordance with the provisions of Section 108 of the Companies Act, 2013, read with Companies (Management and Administration) Rules, 2014.

The scrutinizer's report, prepared by M/s Agarwal S. & Associates, Practicing Company Secretaries, confirmed the fair and transparent conduct of the voting process. The scrutinization was witnessed by two independent witnesses, Mr. Ravi Agrawal and Ms. Shweta Jain, who are not employed by the company or National Securities Depository Limited (NSDL).

Approved Resolutions and Voting Results

All five resolutions presented to shareholders received approval with remarkable consistency, achieving approximately 99.99% support across all items:

Strategic Port Authority Partnerships

The approval of material related party transactions with four major port authorities represents a significant strategic development for the company. The resolutions cover partnerships with:

• Visakhapatnam Port Authority: Approved with participation from 197 voters
• Paradip Port Authority: Secured approval from the shareholder base
• Jawaharlal Nehru Port Authority: Received overwhelming support
• Deendayal Port Authority: Approved with strong consensus

These approvals enable the company to formalize and expand its business relationships with key port infrastructure entities across India's coastline.

Corporate Governance and Compliance

The postal ballot process demonstrates the company's commitment to regulatory compliance and transparent corporate governance. The voting was conducted in accordance with:

• Section 108 of the Companies Act, 2013
• Companies (Management and Administration) Rules, 2014
• SEBI (LODR) Regulations, 2015
• MCA Circulars including General Circular No. 03/2025 dated September 22, 2025

The company's disclosure to both BSE (Scrip code: 523618) and NSE (Symbol: DREDGECORP) ensures full transparency with the investment community and regulatory authorities.

Capital Structure Enhancement

The fifth resolution regarding the alteration of the capital clause in the company's Memorandum of Association received the highest number of total votes at 21809184, with 198 voters participating. This resolution, approved with 99.99% support, positions the company for potential future capital structure optimization and growth initiatives.

Dredging Corporation of India Limited (DCIL) has reached a significant milestone as it celebrates its 50th anniversary, unveiling an ambitious expansion strategy that targets ₹3,000 crore turnover within the next 5-10 years. With a current market capitalisation of ₹2,262 crore, Managing Director & CEO Capt. S. Divakar outlined the company's comprehensive growth roadmap during a media address in Visakhapatnam, marking the beginning of Golden Jubilee celebrations for the Central Public Sector Enterprise established on March 29, 1976.

Remarkable Transformation Over Five Decades

DCIL's journey from humble beginnings to becoming India's leading dredging organisation showcases substantial operational and technical advancement. The company has transformed from operating just one or two dredgers to building a modern, comprehensive fleet that significantly enhances India's maritime infrastructure capabilities.

Strong Financial Performance and Growth Trajectory

The company's financial evolution demonstrates consistent growth and market expansion. DCIL has achieved remarkable revenue scaling while building a substantial order book that positions it for continued expansion.

Expanding International Footprint

DCIL has successfully established its presence in international markets, demonstrating its capability to compete globally while supporting India's maritime expertise export. The company's international projects span multiple countries and involve substantial dredging operations.

Key International Projects:

• Saudi Arabia: Yanbu project implementation
• Bahrain: 150-acre reclamation involving approximately 10 million cubic metres dredging
• Regional Expansion: Active projects in Taiwan, Sri Lanka, and Bangladesh

These international engagements underscore DCIL's emergence as a globally competitive Indian dredging organisation with proven expertise in complex maritime infrastructure projects.

Strategic Positioning for National Maritime Development

DCIL is strategically positioned to capitalise on India's major maritime infrastructure initiatives. The company's alignment with national programmes presents significant growth opportunities in the domestic market.

Major National Opportunities:

• Sagarmala Programme: 384 projects worth ₹1.4 lakh crore
• Vadhvans Port: ₹75,000 crore mega development
• VOC Port Expansion: Major infrastructure enhancement
• Galathea Bay Development: Strategic maritime facility

The company currently handles nearly 80% of India's maintenance dredging, accounting for 110 million cubic metres out of the total 150 million cubic metres annually, while maintaining approximately 10% share in capital dredging with plans for expansion.

Modernisation and Fleet Enhancement Strategy

Aligned with Maritime India Vision 2030, DCIL has outlined comprehensive fleet modernisation plans involving the induction of 11 new dredgers. This expansion includes high-capacity hopper dredgers, cutter suction dredgers, and specialised shallow-water and inland vessels.

The company is actively supporting Atmanirbhar Bharat and Make in India initiatives through strategic collaborations with Indian shipyards including Cochin Shipyard, Hindustan Shipyard, GRSE, Goa Shipyard, and BEML.

Diversification into Emerging Segments:

• Submarine cable trenching capabilities
• Offshore wind energy support services
• Inland waterways development projects

Operational Excellence and Capacity Building

DCIL's growth strategy encompasses comprehensive operational improvements and workforce development initiatives. The company plans a ₹1,000 crore equity raise via rights issue to support expansion while focusing on productivity enhancement and modernisation of ageing assets.

Key Development Initiatives:

• Revival of the All India Dredging Cadre
• Simulator-based training collaboration with Indian Maritime University
• Establishment of dedicated skill development centre in Kakinada
• 10-15% improvement in dredger productivity targets
• Strengthened maintenance systems and workforce development

Established in 1976 and headquartered in Visakhapatnam, DCIL continues to play a vital role in maintaining navigational depths at ports, supporting Indian Navy and fishing harbours, executing capital dredging for new harbours, and maintaining channels along India's 7,500 km coastline.