Dredging Corp gains on appointing Uma Gandhi as CFO

Dredging Corporation of India rose 1.75% to Rs 561.55 after the company's board appointed P Uma Gandhi as chief financial officer (CFO) and key managerial personnel (KMP) of the company, replacing Kiran Easankarala, effective 25 March 2025.

The company added that these appointments were based on the recommendation of the Nomination and Remuneration Committee.

P Uma Gandhi is a qualified cost accountant as well as a qualified chartered accountant and holds a postgraduate graduate degree in commerce, a master's degree in business administration with a specialization in finance, and a graduate degree in law. Uma has rich and diverse experience with companies engaged in trading, manufacturing, and educational institutions of national importance. She was also a practicing Cost Accountant.

Uma has more than 24 years of experience in the areas of finance and accounting, encompassing various roles in treasury management, budgeting, cost management accounting, commercial finance, and MIS support for decision-making. She has served organizations such as Varun Motors, National Thermal Power Corporation, Hindustan Shipyard, Indian Institute of Management Visakhapatnam, and Rashtriya Chemicals and Fertilizers. Gandhi has always prioritized investing in human capital by collaborating across functions.

Meanwhile, the companys board of directors said it has approved the extension of the tenure of Durgesh Kumar Dubey, who has been appointed as managing director & CEO of the company, effective 16 April 2024. His term of appointment will be extended until a new incumbent joins the post of Managing Director and CEO, or for a period of six more months, effective from 16 April 2025, i.e., until 15 October 2025, or until further orders, whichever is earlier, subject to regularization by the shareholders in the next Annual General Meeting or through postal ballot within three months, whichever is earlier.

Dredging Corporation of India (DCI) is engaged in providing integrated dredging services to ports, the Indian Navy, and other maritime organizations in India.

The company has reported a 41.02% drop in net profit to Rs 16.06 crore in Q3 FY25, compared to Rs 27.23 crore posted in the same quarter last year. Revenue from operations rose by 22.24% year on year (YoY) to Rs 324.44 crore in the December 2024 quarter.

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