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Consolidated Standalone

Dredging Corp

₹742 12.4 | 1.7%

Market Cap ₹2078 Cr.

Stock P/E 46.2

P/B 1.4

Current Price ₹742

Book Value ₹ 528.2

Face Value 10

52W High ₹930

Dividend Yield 0%

52W Low ₹ 309.4

Edit Ratio

Dredging Corp Research see more...

Overview Inc. Year: 1976Industry: Shipping

Dredging Corporation of India Ltd (DCI) is engaged in providing dredging offerings to the major ports in India. The Company is engaged in imparting the offerings of capital dredging, protection dredging, beach nourishment, land reclamation, shallow water dredging, project control consultancy, marine construction. The Company has approximately has two Cutter Suction Dredgers (CSDs), one Backhoe Dredger, one Inland Cutter Suction Dredger and 10 Trailer Suction Hopper Dredgers (TSHDs), apart from other ancillary crafts. DCI owns a contemporary and sophisticated fleet consisting of two cutter suction dredgers, ten trailer suction dredgers, one backhoe dredger one inland and different ancillary crafts. DCI also offers various dredging and allied services to the users in India and Abroad and gives inputs for countrywide improvement.

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Dredging Corp Share Price

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Peer Comparison

Dredging Corp Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 151 240 289 218 239 371 337 204 198 265
Other Income 0 1 0 1 1 1 1 1 1 1
Total Income 151 241 290 218 240 372 338 205 199 266
Total Expenditure 123 196 252 192 177 310 310 148 141 197
Operating Profit 28 45 38 26 63 62 27 57 58 70
Interest 3 3 3 4 6 13 6 7 7 8
Depreciation 29 29 33 38 28 35 35 35 33 34
Exceptional Income / Expenses 0 17 -0 0 0 0 0 0 -1 0
Profit Before Tax -4 30 1 -15 29 14 -14 16 17 28
Provision for Tax 0 1 0 0 0 0 0 1 1 0
Profit After Tax -4 29 1 -16 29 14 -14 15 17 27
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments -4 29 1 -16 29 14 -14 15 17 27
Adjusted Earnings Per Share -1.4 10.4 0.4 -5.6 10.2 4.9 -5.1 5.4 6 9.7

Dredging Corp Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 635 770 735 666 585 592 692 750 764 801 1165 1004
Other Income 3 2 9 15 14 20 8 9 3 2 3 4
Total Income 638 773 744 681 599 612 699 759 767 803 1168 1008
Total Expenditure 524 584 561 536 469 457 525 611 798 683 990 796
Operating Profit 115 189 183 145 130 155 175 148 -31 120 178 212
Interest 3 12 26 18 18 20 18 17 20 12 29 28
Depreciation 90 138 92 93 100 113 113 117 119 120 136 137
Exceptional Income / Expenses 0 0 1 11 0 0 0 0 0 17 0 -1
Profit Before Tax 22 39 65 45 12 22 43 13 -170 5 14 47
Provision for Tax 1 1 3 3 5 5 5 8 2 1 1 2
Profit After Tax 21 38 62 42 7 17 38 6 -172 4 13 45
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 21 38 62 42 7 17 38 6 -172 4 13 45
Adjusted Earnings Per Share 7.3 13.4 22.3 15 2.6 6.1 13.6 2 -61.5 1.3 4.5 16

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 45% 16% 14% 6%
Operating Profit CAGR 48% 6% 3% 4%
PAT CAGR 225% 29% -5% -5%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 126% 25% 17% 9%
ROE Average 1% -3% -2% 0%
ROCE Average 3% -1% -0% 1%

Dredging Corp Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 1396 1423 1474 1502 1521 1544 1575 1570 1395 1407 1423
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 720 1256 923 885 700 672 520 412 294 69 113
Other Non-Current Liabilities 6 6 7 10 8 14 15 18 26 29 27
Total Current Liabilities 380 451 409 431 481 415 350 469 549 803 847
Total Liabilities 2502 3136 2813 2829 2710 2646 2460 2468 2264 2309 2410
Fixed Assets 1008 2188 1871 1928 1808 1817 1719 1654 1609 1580 1526
Other Non-Current Assets 518 65 67 49 35 47 12 9 13 30 121
Total Current Assets 976 883 875 852 868 782 729 805 642 698 762
Total Assets 2502 3136 2813 2829 2710 2646 2460 2468 2264 2309 2410

Dredging Corp Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 78 28 57 118 132 70 82 89 70 39 -3
Cash Flow from Operating Activities -37 268 212 158 87 138 148 117 176 205 140
Cash Flow from Investing Activities -530 -733 -9 -17 -8 1 3 6 -1 -89 -168
Cash Flow from Financing Activities 517 493 -142 -127 -141 -127 -145 -142 -166 -159 -38
Net Cash Inflow / Outflow -50 28 61 14 -62 12 7 -19 10 -43 -66
Closing Cash & Cash Equivalent 28 57 118 132 70 82 89 70 39 -3 -69

Dredging Corp Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 7.32 13.41 22.29 14.97 2.65 6.12 13.58 1.97 -61.52 1.27 4.49
CEPS(Rs) 39.52 62.81 55.19 48.3 38.22 46.54 53.91 43.8 -18.91 44.2 53
DPS(Rs) 2 3 3 3 0 2 3 0 0 0 0
Book NAV/Share(Rs) 498.46 508.36 526.54 536.37 543.08 551.47 562.45 560.8 498.28 502.63 508.06
Core EBITDA Margin(%) 17.55 24.17 23.66 19.47 19.87 22.8 24.15 18.52 -4.5 14.72 15.03
EBIT Margin(%) 3.84 6.54 12.48 9.43 5.21 7.1 8.94 4.08 -19.71 2.11 3.64
Pre Tax Margin(%) 3.4 5.04 8.89 6.78 2.1 3.68 6.27 1.79 -22.31 0.6 1.19
PAT Margin (%) 3.23 4.87 8.49 6.29 1.27 2.9 5.5 0.74 -22.55 0.45 1.08
Cash Profit Margin (%) 17.43 22.83 21.03 20.31 18.29 22.02 21.82 16.36 -6.93 15.45 12.74
ROA(%) 0.93 1.33 2.1 1.49 0.27 0.64 1.49 0.22 -7.28 0.16 0.53
ROE(%) 1.48 2.66 4.31 2.82 0.49 1.12 2.44 0.35 -11.62 0.25 0.89
ROCE(%) 1.3 2.04 3.44 2.5 1.26 1.79 2.7 1.41 -7.63 0.96 2.51
Receivable days 240.91 198.45 183.39 196.03 195.36 161.05 130.1 123.29 108.28 93.74 86.05
Inventory Days 61.35 54.44 55.12 66.09 102.14 119.3 100.16 96.19 90.44 75.21 46.28
Payable days 0 0 0 0 0 0 0 0 0 0 0
PER(x) 26.7 17.79 16.76 25.36 259.93 95 31.44 74.1 0 247.51 62.84
Price/Book(x) 0.39 0.47 0.71 0.71 1.27 1.05 0.76 0.26 0.74 0.63 0.55
Dividend Yield(%) 1.02 1.26 0.8 0.79 0 0.34 0.7 0 0 0 0
EV/Net Sales(x) 1.95 2.61 2.68 2.92 4.57 3.98 2.54 1.19 1.85 1.33 0.89
EV/Core EBITDA(x) 10.83 10.65 10.77 13.41 20.54 15.18 10.07 6.03 -45.33 8.82 5.83
Net Sales Growth(%) 31 21.34 -4.6 -9.4 -12.12 1.15 16.87 8.38 1.88 4.88 45.41
EBIT Growth(%) 32.37 106.95 81.98 -31.59 -51.41 37.72 47.21 -50.52 -591.96 111.21 151.34
PAT Growth(%) 55.6 83.07 66.22 -32.84 -82.33 131.46 121.83 -85.5 -3224.42 102.07 251.8
EPS Growth(%) 55.59 83.07 66.22 -32.84 -82.33 131.46 121.83 -85.5 -3224.42 102.07 251.79
Debt/Equity(x) 0.52 0.98 0.71 0.67 0.54 0.52 0.41 0.35 0.31 0.19 0.2
Current Ratio(x) 2.57 1.96 2.14 1.97 1.8 1.88 2.08 1.72 1.17 0.87 0.9
Quick Ratio(x) 2.26 1.71 1.88 1.67 1.4 1.42 1.55 1.39 0.87 0.76 0.84
Interest Cover(x) 8.82 4.35 3.48 3.56 1.67 2.08 3.35 1.78 -7.56 1.39 1.48
Total Debt/Mcap(x) 1.32 2.09 0.99 0.95 0.42 0.5 0.55 1.35 0.41 0.31 0.36

Dredging Corp Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 73.47 73.47 73.47 73.47 73.47 73.47 73.47 73.47 73.47 73.47
FII 0.05 0.22 0.39 0.23 0.36 0.36 0.15 0.25 0.11 0.3
DII 2.31 2.31 2.31 2.31 2.35 7.18 7.18 6.43 5.36 5.22
Public 24.17 24 23.82 23.99 23.82 18.98 19.2 19.86 21.05 21.01
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company is almost debt free.

Cons

  • Company has a low return on equity of -3% over the last 3 years.
  • The company has delivered a poor profit growth of -5% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Dredging Corp News

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