Dredging Corporation of India has formalized a major fuel supply agreement with Indian Oil Corporation Limited (IOCL) through an official Memorandum of Understanding signed on April 16, 2026. The agreement, valued at ₹2,157.07 crore, represents a significant milestone for the company amid ongoing energy sector disruptions.

Agreement Details

The comprehensive fuel supply arrangement spans five years and ensures reliable fuel procurement for the company's nationwide dredging fleet operations. This strategic partnership provides operational stability during a period of energy sector uncertainty.

Signing Ceremony

The MoU signing ceremony was attended by senior officials from both organizations. IOCL was represented by Shri K. John Prasad, Country Head (Institutional Business), HO; Shri Piyush Mittal, Executive Director & State Head (TAPSO); Shri Manoj D. Kudale, Chief General Manager (Institutional Business), TAPSO; and Shri Nishant Gulati, DIBH, Vizag DO.

From Dredging Corporation of India, the ceremony was graced by Capt. S. Divakar, Managing Director & CEO; Capt. K.M. Choudhary, CHOD & GM (Business Development); and Shri B. Durga Prasad Babu, HOD (Materials). The formal agreement was signed by Shri B. Durga Prasad Babu on behalf of DCI and Shri Nishant Gulati on behalf of IOCL.

Strategic Impact

This partnership reinforces the long-standing association between the two public sector enterprises and demonstrates their shared commitment toward operational excellence and reliability. The agreement ensures uninterrupted fuel supply for major dredging operations supporting India's maritime infrastructure development.

The collaboration highlights the crucial role of public sector enterprises in maintaining stability and efficiency in key economic sectors, particularly during challenging global energy conditions. By securing long-term fuel arrangements, the company has strengthened its capability to deliver consistent dredging services for major ports and national projects.

Dredging Corporation of India Limited has submitted its quarterly compliance certificate to stock exchanges, fulfilling regulatory requirements under SEBI (Depositories and Participants) Regulations, 2018.

Regulatory Compliance Filing

The company filed its certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended March 31, 2026. This mandatory filing relates to the proper handling and processing of physical share certificates received for dematerialization during the reporting period.

Certificate Confirmation

The certificate confirms that securities comprised in physical share certificates received for dematerialization have been properly processed. According to the filing, after due verification, the physical certificates have been immediately mutilated and cancelled, with records substituted to reflect the depository as the registered owner.

The company secretary P. Chandra Kalabhinetri signed the compliance certificate on behalf of Dredging Corporation of India Limited. The certificate was submitted to both major stock exchanges where the company's shares are traded.

Stock Exchange Details

Registrar Confirmation

KFin Technologies Limited, serving as the company's registrar and transfer agent, provided additional certification dated April 1, 2026. C Shobha Anand, Vice President at KFin Technologies Limited, certified that all required details of securities dematerialized and rematerialized during the quarter have been furnished to stock exchanges where the company's shares are listed.

Company Information

Dredging Corporation of India Limited operates with its head office located at Dredge House, H.B.Colony Main Road, Seethammadhara, Visakhapatnam. The company's registered office is situated at Core-2, First Floor, Scope Minar, Laxminagar District Centre, Delhi. The filing indicates the company is celebrating its 50th Golden Jubilee, marking the period from 1976-2026.