Dredging Corporation of India Reports Mixed Q2 Results: Revenue Up, Losses Widen

Dredging Corporation of India (DCI), a key player in the maritime infrastructure sector, has released its financial results for the second quarter, revealing a mixed performance with both growth and challenges.

Revenue Growth Amid Widening Losses

DCI reported a quarterly revenue of ₹2.12 billion, marking a 6% increase from ₹2 billion in the same period last year. This growth indicates a steady demand for the company's dredging services, potentially reflecting increased maritime infrastructure activities.

However, the company's bottom line faced pressure, with a net loss of ₹342 million, slightly higher than the ₹335 million loss reported in the corresponding quarter of the previous year. This widening of losses, despite revenue growth, suggests ongoing challenges in cost management or operational efficiency.

Improved EBITDA Performance

A notable bright spot in DCI's financial results is the significant improvement in its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). The company turned its EBITDA positive at ₹249 million, a substantial improvement from a loss of ₹15.2 million in the previous year. This turnaround resulted in an EBITDA margin of 11.78%, indicating better operational efficiency and cost control at the operational level.

Financial Position and Cash Flow

The unaudited standalone financial results provide additional insights into DCI's financial position:

Particulars (as of Sep 30, 2025)	Amount (in lakhs)
Total Assets	268,243.30
Total Equity	115,805.78
Total Liabilities	152,437.51

The company's cash flow statement shows a positive net cash flow from operating activities of ₹17,123.16 lakhs for the period ended September 30, 2025, indicating healthy operational cash generation despite the reported net loss.

Operational Highlights

While specific operational details are limited, the improvement in EBITDA suggests that DCI may have implemented cost-saving measures or improved its project execution efficiency. The company's ability to grow its revenue in a challenging economic environment is also noteworthy.

Looking Ahead

As DCI navigates through these mixed results, investors and stakeholders will likely focus on the company's strategies to maintain revenue growth while addressing the factors contributing to its net losses. The positive EBITDA trend, if sustained, could be a stepping stone towards improved profitability in future quarters.

The management's focus on operational efficiency and cost management will be crucial in translating the revenue growth into bottom-line improvements. Stakeholders may also look for any updates on new project acquisitions or expansion plans that could drive future growth.

Note: All financial figures are based on the unaudited financial results for the quarter ended September 30, 2025, as reported by Dredging Corporation of India Limited.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+8.07%	+7.49%	+0.69%	+49.56%	+27.90%	+219.95%

Dredging Corporation of India Limited (DCI) has issued a formal postal ballot notice to shareholders for the approval of Shri Gaurav Dayal's appointment as Additional Director, following the earlier board approval through Resolution by Circulation.

Postal Ballot Notice Details

The company has officially communicated to stock exchanges regarding the postal ballot process for formal shareholder approval. The notice, dated January 2, 2026, outlines the complete procedure for electronic voting on the director appointment.

Process Details:	Information
Notice Date:	January 2, 2026
Cut-off Date:	December 26, 2025
E-voting Commencement:	January 3, 2026 at 9:00 AM IST
E-voting End:	February 2, 2026 at 5:00 PM IST
Result Declaration:	On or before February 4, 2026
Scrutinizer:	Mr. Sachin Agarwal, M/s. Agarwal S. & Associates

Director Appointment Details

Shri Gaurav Dayal, IAS, was initially appointed as Additional Director (Promoter-Non Executive) through board resolution on November 7, 2025. The postal ballot seeks formal shareholder approval for his regular appointment as Director.

Appointment Details:	Information
Name:	Shri Gaurav Dayal, IAS
DIN:	08145326
Position:	Additional Director (Promoter-Non Executive & Non Independent)
Initial Appointment:	November 7, 2025
Current Role:	Chairman of Jawaharlal Nehru Port Authority
Age:	46 years
Service:	Indian Administrative Service (2004 batch)

Professional Background

Shri Gaurav Dayal brings over two decades of administrative experience to DCI's board. His distinguished career includes serving as Secretary (Home & Vigilance) in Uttar Pradesh and Divisional Commissioner of Ayodhya, where he played a pivotal role in the city's transformation into a global religious tourism destination.

Career Highlights:	Details
Education:	B.Sc. in Physics, LBSNAA Mussoorie Alumni
Key Achievement:	Led Deepotsav 2024 to Guinness World Record
Expertise Areas:	Governance, Infrastructure Development, Urban Transformation
Remuneration:	Not entitled to any remuneration or perks

E-voting Process

The company has engaged National Securities Depository Limited (NSDL) and KFin Technologies Limited to facilitate the remote e-voting process. Shareholders can cast their votes electronically through multiple platforms including depository websites and the company's designated e-voting portal.

Regulatory Compliance

DCI has confirmed compliance with all regulatory requirements under the Companies Act, 2013, SEBI (LODR) Regulations 2015, and other applicable provisions. The company has duly informed both BSE (Scrip Code: 523618) and NSE about the postal ballot process as per Regulation 30 requirements.

The resolution, if approved by shareholders, will be deemed passed on February 2, 2026, the last date of e-voting, formally completing Shri Gaurav Dayal's appointment to DCI's board of directors.