Dredging Corporation shares jump 5% on bagging a Rs 64-cr order

Dredging Corporation of India | The company on March 17 will sign a contract with Cochin Shipyard for construction of 12,000 cubic meter hopper capacity trailer suction hopper dredger for euro 104 million under Make in India program. The construction period is about three years.

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Shares of Dredging Corporation of India climbed 5 percent on March 10 reacting to an order win. At 9:16am, shares of the company were trading at Rs 354.85, up 4.1 percent, on the BSE. The scrip has fallen 12 percent so far this year.

The Southern Naval Command Kochi has awarded the annual maintenance dredging of naval channel at Ernakulam contract to Dredging Corporation. This job includes annual dredging of 1.5 million cubic metres approximately at the Naval Channel in Ernakulam, Kochi, at an estimated cost of Rs 64 crore for 2022-23, the company said in a regulatory filing.

This order will help the company in achieving its aim of clocking highest ever turnover of Rs 1,000 crore for FY23, Dredging Corporation added.

Catch up on all LIVE stock market updates here

The company provides dredging services to the major ports of the country and serves major and minor ports, the Indian Navy, fishing harbours and other maritime organisations.

The Indian government has divested its complete holding in the company of 73.41 percent to the four ports-Vishakhapatnam Port Trust (19.47 percent), Jawaharalal Nehru Port Trust (18 percent), Paradeep Port Trust (18 percent), and Deenadyal Port Trust (18 percent) on March 8, 2019, along with the transfer of management and control.

Net sales came in at Rs 371.32 crore in December 2022, up 55 percent on-year, whereas net profit slumped 52 percent to Rs 13.84 crore in the reporting quarter.