Synopsis: A capital goods and infrastructure services stock drew investor interest after Invesco Mutual Fund purchased a 0.54 percent stake through a bulk deal worth Rs. 13 crore.
A capital goods and infrastructure services stock gained traction after a leading institutional investor took a fresh stake in the company through a bulk deal, signaling renewed institutional interest in the dredging and marine services provider.
Dredging Corporation of India Ltd, with a market capitalization of Rs. 2,571.80 crore, opened at Rs. 934.05 on Tuesday after a previous close of Rs. 888.95. The stock touched an intraday high of Rs. 954.95, marking an increase of 7.4 percent from the previous close.
What’s the News?
Invesco Mutual Fund acquired 1.52 lakh shares of Dredging Corporation of India Ltd, representing a 0.54 percent stake in the company. The shares were purchased at an average price of Rs. 851.7 per share, taking the total transaction value to around Rs. 13 crore. The bulk deal, executed on November 3, underscores renewed institutional interest in the dredging services provider.
Financial Snapshot – Q1FY26
On a quarter-on-quarter basis, revenue from operations declined by 47.6 percent, falling from Rs. 462 crore in Q4FY25 to Rs. 242 crore in Q1FY26. Operating profit also contracted by 38.9 percent, dropping from Rs. 77 crore to Rs. 47 crore, reflecting lower project execution during the quarter. The company reported a pre-tax loss of Rs. 23 crore, compared to a profit before tax of Rs. 21 crore in the previous quarter, marking a turnaround in profitability. Net profit similarly slipped from Rs. 21 crore to a loss of Rs. 23 crore.
On a year-on-year comparison, Dredging Corporation of India reported a sharp rebound in financial performance. Revenue surged 60.3 percent from Rs. 151 crore in Q1FY25 to Rs. 242 crore in Q1FY26. Operating profit rose nearly 291.7 percent, climbing from Rs. 12 crore to Rs. 47 crore. Pre-tax loss and Net loss narrowed significantly from Rs. 31 crore to Rs. 23 crore.
About the Company
Founded in 1976 and headquartered in Visakhapatnam, Dredging Corporation of India Limited provides dredging and marine services to major and minor ports, the Indian Navy, fishing harbors, and other maritime agencies. Its operations cover capital and maintenance dredging, beach nourishment, land reclamation, inland dredging, and marine construction. The company manages a diversified fleet of dredgers and support vessels, including trailer suction hopper dredgers and cutter suction dredgers, enabling it to serve a broad range of infrastructure and coastal projects across India.
-Manan Gangwar
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