Dredging Corporation of India (DCIL) shares surged 33% over two trading days, with the stock hitting ₹1,151 on Wednesday amid heavy trading volumes. According to reports from Business Standard, the stock was trading 14% higher at ₹1,147.45 as of 09:37 AM, significantly outperforming the 0.5% decline in the BSE Sensex at 74,836. The average trading volumes jumped over 10-fold, with a combined 2.66 million shares changing hands on both NSE and BSE exchanges. The stock had previously hit a 52-week high of ₹1,245.90 on January 30, 2026.
For the January to March 2026 quarter (Q4FY26), DCIL delivered robust financial results with profit after tax (PAT) of ₹87 crore, compared to ₹25 crore loss in Q4FY25. As reported by Business Standard, revenue from operations grew 73.2% year-on-year (YoY) at ₹478 crore during the quarter, up from ₹276 crore in the corresponding period last year. The company achieved a historic milestone by posting its highest-ever annual turnover of ₹1,214.09 crore during FY26, marking the best performance since its inception over the last five decades. PAT for FY26 reached ₹4.75 crore, compared to a net loss of ₹27.46 crore in FY25.
DCIL demonstrated significant operational improvements with EBITDA jumping to ₹143 crore from ₹33 crore in the year-ago quarter, while EBITDA margin expanded dramatically to 30% from 12%. According to the latest exchange filing, the company successfully navigated multiple operational challenges including rising fuel prices, increased operational costs and intense pricing pressures while delivering an impressive operational profit (EBITA) of ₹253.46 crore for FY26. The management reiterated that DCIL remains fully committed to sustaining this growth trajectory and further strengthening its position as the nation's leading dredging company.
The company has set an ambitious target of achieving a turnover of ₹1,500 crore during the financial year 2026-27, as reported by Business Standard. The management reiterated that DCIL remains committed to sustaining its growth trajectory and strengthening its position in the domestic dredging sector. DCIL operates as India's premier dredging organization under the consortium of four major ports - Visakhapatnam Port Authority, Jawaharlal Nehru Port Authority, Paradip Port Authority and Deendayal Port Authority. The commissioning of India's largest dredger, DCI Dredge Godavari, scheduled for October 2026 is expected to enhance capacity and support both maintenance and capital dredging orders, thereby improving scale and revenue profile over the medium term.
Separately, the company disclosed that it had restated certain revenue and expense items related to the financial year 2024-25 after identifying an accounting error involving advances received for subcontracted work. According to the exchange filing, DCI had received ₹14.81 crore from the Inland Waterways Authority of India (IWAI) as advance payment for work awarded to the company and subcontracted on a back-to-back basis. The same amount was subsequently paid to the subcontractor as an advance, but both transactions were inadvertently recorded as revenue and subcontracting expenditure instead of advances in the balance sheet. The company clarified that the accounting adjustment had no impact on profit, as the revenue and expense amounts were identical. Shares ended higher on Tuesday, May 19, by 14.8% at ₹994 on the NSE, reflecting strong investor confidence in the company's turnaround performance and growth prospects.
