Dredging Corporation of India (DCI) has appointed Jasmeet Singh Bindra, IRTS as chairman and additional director (promoter, non-executive and non-independent) effective June 9, 2026. According to reports from Business Standard, the appointment will continue until the next annual general meeting. The company will seek shareholders' approval for his regular appointment as a non-executive director either at the AGM or through a postal ballot within three months from the date of appointment, whichever is earlier. The board also took note of the cessation of Dr M. Angamuthu as director and chairman with effect from May 20, 2026. As reported by Business Standard, the company clarified that Bindra is not related to any director of the company.
The appointment comes as the company noted the cessation of Dr M. Angamuthu as director and chairman with effect from May 20, 2026. As reported by Business Standard, the company clarified that Bindra is not related to any director of the company. The board took note of this change during its meeting, marking a significant shift in the company's leadership structure.
Jasmeet Singh Bindra is a 1996-batch officer of the Indian Railway Traffic Service (IRTS) and holds a B.Tech in Electronics, MBA, and Master's in Public Policy (MPA). According to Business Standard, during his nearly three-decade-long career, he has held several key positions across Indian Railways and the Government of India, including Senior Divisional Commercial Manager, Director (Safety), Director in the Ministry of Coal, Chief Passenger Transportation Manager, Divisional Railway Manager (Ranchi), Executive Director (Gati Shakti/Traffic) at the Railway Board, Principal Chief Commercial Manager, and Principal Chief Operations Manager (Coordination), South East Central Railway. Notably, Bindra has also been appointed as Chairman of Visakhapatnam Port Authority for five years from May 20, 2026, as reported by multiple sources.
Dredging Corporation reported strong financial results for the quarter ended March 2026, with net profit jumping 306.1% to ₹86.91 crore compared with ₹21.40 crore in the corresponding quarter of the previous year. As reported by Business Standard, revenue increased 3.4% year-on-year to ₹478.23 crore. The company's FY2025-26 turnover reached ₹1,214.09 crore with PAT of ₹4.75 crore, as reported by multiple sources. The company has set an ambitious ₹1,500 crore FY2026-27 target, indicating strong growth expectations. DCI provides integrated dredging services to ports, the Indian Navy, and other maritime organizations in India.
Following the leadership announcement, Dredging Corporation's stock slipped 1.03% to ₹1,128.45 on the BSE, according to Business Standard. The market reaction suggests investor response to the leadership transition and the company's recent strong financial performance. The stock is currently trading at 2.60 times its book value with a market capitalization of ₹3,196 crore, representing a 46.8% increase in one year.
