Dredging Corporation of India Limited has disclosed the appointment of Shri Jasmeet Singh Bindra as the Chairperson of the Visakhapatnam Port Authority (VPA). The company intimated the stock exchanges regarding this development under Regulation 30 of the SEBI (LODR) Regulations, 2015.

The appointment was formalized through an office order issued by the Ministry of Ports, Shipping and Waterways. Shri Jasmeet Singh Bindra, an Indian Railway Traffic Service (IRTS) officer of the 1997 batch, has been appointed to the position at the Joint Secretary level.

Appointment Details

The official notification outlines the key terms of the new role for the VPA Chairperson. The appointment is structured for a specific tenure and compensation level as per government norms.

The Visakhapatnam Port Authority confirmed via email on May 23, 2026, that Shri Bindra has taken over the charge of the office. The appointment is exercised under the powers conferred by Section 3(1)(a) of the Major Port Authorities Act, 2021.

The information was submitted by P. Chandra Kalabhinetri, Company Secretary of Dredging Corporation of India Limited, for the purpose of public record and compliance.

Dredging Corporation of India has reported a strong return to profitability, posting a full-year Profit After Tax (PAT) of Rs 475.35 lakh for the financial year ended March 31, 2026. This marks a significant turnaround from the restated net loss of Rs 2,745.67 lakh recorded in the previous fiscal year. The company also achieved its highest ever annual turnover of Rs 1,214.09 crore during the period, driven by strong operational performance. Adding to this momentum, the company delivered a robust Q4 performance, with standalone net profit surging to Rs 869m compared to Rs 214m in the same quarter of the previous year.

Q4 Performance Highlights

The latest quarter underscored the company's improving operational efficiency, with Q4 revenue rising to Rs 4.8b from Rs 4.62b year-on-year. EBITDA for the quarter more than doubled to Rs 1.42b compared to Rs 767m in the corresponding period of the prior year. The EBITDA margin expanded significantly to 29.89% from 16.58% year-on-year, reflecting better cost management and higher-margin project execution during the quarter.

The following table summarizes the key Q4 standalone financial metrics:

Operational Performance

For the full year, the company demonstrated resilience in its operations, with Revenue from Operations rising to Rs 1,20,832.53 lakh for FY26, up from Rs 1,12,732.42 lakh in the restated FY25 figures. Total Income for the year stood at Rs 1,21,409.84 lakh. The management attributed this growth to strategic planning and efficient execution of ongoing dredging projects. However, the company faced rising costs, with total expenses increasing to Rs 1,20,752.01 lakh compared to Rs 1,17,729.52 lakh in the prior year.

Full-Year Financial Metrics and Shareholder Returns

The financial turnaround is reflected in the company's earnings per share (EPS), which improved to Rs 5.28 for FY26 from a negative Rs 12.07 in the previous year. The Earnings Per Share on a basic and diluted basis for the quarter ended March 31, 2026, was reported at Rs 34.62. The board has set an ambitious target of achieving a turnover of Rs 1,500 crore in the upcoming financial year 2026-27.

The following table summarizes the key annual financial metrics for FY 2025-26:

Balance Sheet and Ratios

As of March 31, 2026, the company's net worth stood at Rs 1,23,035.21 lakh, an increase from Rs 1,22,149.01 lakh in the previous year. The debt-equity ratio was reported at 0.88:1, while the interest coverage ratio improved to 5.22:1 from 3.86:1 in the prior year. Total assets were recorded at Rs 3,06,570.88 lakh, supported by a healthy cash position with cash and cash equivalents at Rs 14,287.69 lakh.