Shares of Dredging Corporation of India Ltd. extended their gains for the second consecutive day on Wednesday, May 20, rising as much as 15% after the company reported strong fourth quarter earnings after market hours on Tuesday. According to reports from CNBC TV18, the stock had surged another 16% on Tuesday, taking the two-day advance to over 30%. The stock is currently trading at ₹1,103, holding on to gains of 10% despite trading off the day's highs. With this two-day move, the stock has turned positive for 2026 as well.
The company reported exceptional fourth quarter results with revenue increasing by 73.2% to ₹478 crore from ₹276 crore in the fourth quarter last year. As reported by CNBC TV18, the company's earnings before interest, tax, depreciation and amortisation (EBITDA) more than quadrupled to ₹143 crore from ₹33 crore in the previous year, while EBITDA margins expanded significantly to 30% from 12% last year. The company reported a standalone net profit of ₹87 crore in the January to March period compared to a loss of ₹25 crore in the previous year.
For the full financial year 2026, Dredging Corp's revenue increased by 7.2% to ₹1,208.4 crore from ₹1,127.3 crore last year. According to reports from CNBC TV18, the company reported a profit after tax of ₹4.7 crore from a loss of ₹26.1 crore in the previous fiscal. The company faced operational challenges during the year, including rising fuel prices, increased operational costs and intense pricing pressures.
For financial year 2027, Dredging Corp has guided for a ₹1,500 crore topline, indicating strong growth expectations. As reported by CNBC TV18, the company's operational challenges included rising fuel prices, increased operational costs and intense pricing pressures, which were factors in the previous year's performance.
