Dredging Corporation Posted Growth of 147% in Revenue During FY2024

On May 30, 2024, Dredging Corporation of India Limited, a leader in the Dredging Industry, released its results for the year ended March 31, 2024.

In the Financial Year 2023–24, Dredging Corporation of India reported a profit of ₹35.68 Crore, a significant increase in profitability over the previous FY23 profit of ₹15.18 crore. Due to this, FY 2023–24 saw a strong 147% growth and a respectable ₹945.50 Crore in turnover.

With a rise of 81.36% from the previous financial year 2022–23, the Earnings before Interest, Taxes, Depreciation & Amortisation (EBITDA) for the Financial Year 2023–24 is ₹224.40 crore. The Financial Year 2023–24’s earnings per share (EPS) is ₹12.27, compared to the FY 2022–2023 EPS of ₹69.13 per share.

Several large dredging projects were successfully completed in FY 2023–2024, greatly increasing revenue for Dredging Corporation of India. This remarkable expansion is evidence of the business’s steadfast dedication to providing its clients with top-notch services. The current projects have been closely observed and completed on schedule, much to the clients’ total delight. The company’s reputation as a go-to partner for customers looking for effective and long-lasting solutions has been cemented by its proficiency in carrying out challenging projects.

At Cochin Ship Yard Ltd, a trailer suction hopper dredger with an estimated cost of ₹800 crore is being built; thus far, ₹306 crore has been paid. This dredger is anticipated to be delivered and put into service in October 2025, strengthening DCIL’s dredging capabilities.

Throughout FY 2023–2024, Dredging Corporation of India was committed to operational excellence, resulting in excellent resource utilisation and cost control.

The company is dedicated to maintaining this positive trajectory and demonstrating performance improvement to reach its goal of a record-breaking turnover of ₹1,840 Crore for the forthcoming fiscal year 2024–2025.

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