Dredging Corporation of India Announces Cessation of Independent Director Lov Verma

1 min read Updated on 28 Feb 2026, 10:40 AM

Reviewed by

Jubin VScanX News Team

Overview

Dredging Corporation of India Limited announced that Shri Lov Verma, IAS (Retd.), ceased to be an Independent Director effective February 28, 2026, upon completion of his three-year tenure. He also ceased to be a member of all Board Committees from the same date. The company has informed stock exchanges in compliance with SEBI regulations.

*this image is generated using AI for illustrative purposes only.

Dredging Corporation of India Limited has announced the cessation of Shri Lov Verma, IAS (Retd.), as Independent Director of the company. The announcement was made through a regulatory filing to stock exchanges on February 28, 2026.

Director Cessation Details

The cessation became effective from February 28, 2026, marking the completion of Verma's three-year tenure as Independent Director. The company has confirmed that this represents a natural conclusion of his directorship term rather than any premature departure.

Parameter:	Details
Director Name:	Shri Lov Verma, IAS (Retd.)
Position:	Independent Director
Cessation Date:	February 28, 2026
Reason:	Completion of three-year tenure
Committee Impact:	Ceased membership in all Board Committees

Board Committee Impact

Following his cessation as Independent Director, Verma simultaneously ceased to be a member of all Board Committees of the company with effect from February 28, 2026. This comprehensive departure affects his participation across the company's governance structure.

Regulatory Compliance

The company has submitted this information to both the Bombay Stock Exchange Limited and The National Stock Exchange of India Limited as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary P Chandra Kalabhini signed the regulatory filing on behalf of Dredging Corporation of India Limited.

The announcement ensures full transparency with shareholders and regulatory authorities regarding changes in the company's board composition and governance structure.

Historical Stock Returns for Dredging Corporation of India

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.74%	-1.48%	+0.36%	+58.01%	+74.08%	+131.60%

Dredging Corporation of India

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Dredging Corporation Q3: Revenue ₹2.8B, EBITDA Drops to ₹329M with Margin at 11.9%

1 min read Updated on 05 Feb 2026, 02:44 PM

Reviewed by

Naman SScanX News Team

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Overview

Dredging Corporation of India faced a challenging third quarter with revenue declining to ₹2.8 billion from ₹3.2 billion year-on-year. The company's EBITDA dropped to ₹329 million from ₹523 million, while EBITDA margin compressed to 11.9% from 16.12%, indicating operational efficiency concerns. The company swung to a net loss of ₹246 million compared to a profit of ₹160 million in the same quarter of the previous year.

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Dredging Corporation of India has reported challenging third quarter results with revenue declining to ₹2.8 billion compared to ₹3.2 billion in the same quarter of the previous year, while recording a net loss of ₹246 million against a net profit of ₹160 million in the prior year period.

Financial Performance Overview

The company's quarterly results demonstrate significant deterioration across key financial metrics, with both revenue and profitability showing negative trends on a year-on-year basis. The EBITDA performance also reflects this challenging operating environment.

Financial Metric:	Q3 Current Year	Q3 Previous Year	Change
Revenue:	₹2.8 billion	₹3.2 billion	-₹0.4 billion
EBITDA:	₹329 million	₹523 million	-₹194 million
EBITDA Margin:	11.9%	16.12%	-4.22%
Net Result:	Loss ₹246 million	Profit ₹160 million	-₹406 million

EBITDA and Margin Analysis

The company's EBITDA declined to ₹329 million from ₹523 million in the corresponding quarter of the previous year, representing a decrease of ₹194 million. More concerning is the compression in EBITDA margin, which fell to 11.9% from 16.12% year-on-year, indicating deteriorating operational efficiency and profitability at the core business level.

Revenue and Profitability Impact

The revenue decline of ₹0.4 billion represents a substantial drop in the company's top-line performance, indicating potential challenges in securing new contracts or completing existing projects. This revenue contraction, combined with the swing from profitability to losses and reduced EBITDA margins, suggests operational difficulties or increased cost pressures affecting the dredging company.

The negative variance of ₹406 million in net results highlights the magnitude of the financial performance deterioration, reflecting the company's current operational environment and market conditions during this quarter.

Historical Stock Returns for Dredging Corporation of India