Dredging Corporation of India soars after Rs 17,645 crore MoU deals

Dredging Corporation of India hit an upper limit of 20% to Rs 888.95 after the company signed 22 MoUs with 16 organisations worth Rs 17,645 crore during India Maritime Week 2025 in Mumbai.

The deals aim to expand dredging capacity, modernise the fleet, and strengthen its global presence.

The company tied up with major ports for dredging projects and Cochin Shipyard for dredger construction and repair. It also partnered with NMDC Abu Dhabi for a global JV, BEML for indigenous parts, and IHC for modernising dredgers.

An MoU with IIT Chennai's National Technology Centre for Ports, Waterways & Coasts (NTCPWC) will cover bathymetry surveys and training programmes. IOCL will ensure fuel and lubricant supply to Dredging Corporation of India Ltd (DCIL) vessels.

 

Chairman Dr. M. Angamuthu said the MoUs align with the Maritime Amrit Kaal Vision. The government plans to invest Rs 4,000 crore to build 11 new dredgers and upgrade existing ones.

CEO Capt. S. Divakar said the partnerships will boost efficiency and reinforce DCIL's position as India's top dredging company. DCIL currently handles about 55% of Indias dredging needs.

DCIL operates under a consortium of four major ports Visakhapatnam, Paradip, Jawaharlal Nehru and Deendayal Port Authorities. As on September 2025, this consortium held 73.47% stake in DCIL.

The company reported standalone net loss of Rs 23.33 crore in Q1 FY26 as against net loss of Rs 31.40 crore in Q1 FY25. Revenue from operations jumped 60.6% year-on-year to Rs 242.24 crore in Q1 FY26.

Powered by Capital Market - Live News