DCI or Dredging Corporation of India, Ltd. is the country’s largest dredging and reclamation company formed by the government of India to upkeep the shipping channels in the country. Later on, with changes in economic policy, the government divested the stake it held in the company and the shares were bought out by four major seaports of the country.
On Monday, the company reported to the bourses that it has achieved a profit of Rs 29.05 crore (3.86 mn USD) for the quarter ended on December 31, 2021, against that of Rs 25.60 crore (3.4 mn USD) in the previous year.
The standalone income of the company during the October-December quarter declined to Rs 240.86 crore (32 mn USD) from Rs 259.59 crore (34.5 mn USD) in the same period the year ago, the company said in a filing to Bombay Stock Exchange (BSE), which is the country’s and Asia’s oldest Stock Exchange.
Dredging Corporation of India Ltd is owned by four major ports and is one of the world’s largest dredging and land reclamation solution providers and provides services for project management consultancy for the development of Seaports, inland waterways, reservoirs, dams and flood control management. However more proactive, aggressive officials need to be part of the management to pull this company to the top league and maintain its position there. Vessels need major degradation and new verticals especially in the lines of Windmill installation, etc should be opened and business should be ramped up and organic or aggressive growth should be focussed. In the present environment, the first mover gets the most advantages in reclamation and dredging projects. Those who come behind will be fed with leftover jobs which wouldn’t justify their cost in the scenario.
