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:

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.

Dredging Corporation of India Limited (DCI) has announced significant changes to its board of directors, marking a shift in its corporate governance structure. The company has appointed a new director and bid farewell to another, effective November 7, 2025.

New Appointment

Shri Gaurav Dayal, IAS, has been appointed as an Additional Director (Promoter-Non Executive) of DCI. This appointment brings a wealth of administrative experience to the company's leadership.

Appointment Approval

The appointment of Shri Gaurav Dayal is subject to formal approval, which is expected to be obtained through one of the following methods:

• At the next General Meeting
• Through Postal Ballot within three months

Simultaneous Departure

Coinciding with Shri Dayal's appointment, DCI announced the departure of another board member:

Additional Information

DCI has confirmed that the newly appointed director, Shri Gaurav Dayal, is not related to any existing Directors or Officers of the company. This disclosure aligns with corporate governance best practices, ensuring transparency in board appointments.

These changes in DCI's board composition may potentially influence the company's strategic direction and governance approach in the coming years.