Dredging Corporation of India Limited (DREDGECORP) AI Stock Analysis

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Dredging Corporation of India Limited

(NSE:DREDGECORP)

Select Model

Rating:45Neutral

Price Target:INR 797.00▼(-2.52% Downside)

Action:reiterated

Date:09/06/26

The score is primarily constrained by weak financial performance: profitability is only modestly positive, leverage has increased, and free cash flow has been persistently negative. Technicals are mixed (neutral RSI with slightly negative MACD), providing limited support, while valuation is a headwind due to a very high P/E and no dividend yield data.

Positive Factors

Contracted Marine Infrastructure ServicesThe business serves essential port and maritime infrastructure needs through both capital and maintenance dredging. This provides multiple project types and keeps the company positioned in a specialized market where customers require channel depth, berth capacity and ongoing navigability.

Negative Factors

Thin ProfitabilityThe return to profit remains fragile because earnings are only marginally positive after several loss-making years. A very thin net margin leaves limited protection against project cost variation or weaker execution, making sustained earnings improvement dependent on stronger and more consistent operating performance.

Dredging Corporation of India Limited (DREDGECORP) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 22.88B
Dividend Yield: ―
Average Volume (3M): 6,195
Price to Earnings (P/E): 46.4
Beta (1Y): 1.59
Revenue Growth: 7.13%
EPS Growth: ―
Country: India
Employees: 248
Sector: General
Sector Strength: 55
Industry: Marine Shipping

Dredging Corporation of India Limited Business Overview & Revenue Model

Company Description

Dredging Corporation of India Limited (DCI) is a prominent Indian company that delivers specialized dredging solutions to a wide array of clients. Its services are sought by numerous ports, the Indian Navy, fishing harbors, and various other maritime...

How the Company Makes Money

DREDGECORP primarily makes money by executing dredging contracts and related marine works for customers such as port authorities, government entities and other maritime infrastructure operators. Its key revenue stream is service income from (1) maint...

Dredging Corporation of India Limited Financial Statement Overview

Summary

Profitability has only recently turned positive (2026 net margin ~0.4% and EBIT margin ~7%) after multiple loss-making years, making earnings quality fragile. Leverage has risen materially (debt-to-equity up to ~0.88 in 2026), and free cash flow has been negative from 2023–2026 with a sharp deterioration in 2026, increasing funding pressure.

Income Statement

44Neutral

Balance Sheet

53Neutral

Cash Flow

38Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	13.22B	12.08B	11.42B	9.43B	11.58B	8.01B
Gross Profit	5.83B	5.61B	7.94B	7.27B	480.57M	5.97B
EBITDA	2.65B	2.48B	1.64B	2.04B	-252.22M	1.17B
Net Income	393.36M	47.53M	-274.57M	356.84M	-1.96B	35.70M
Balance Sheet
Total Assets	31.00B	30.66B	26.47B	24.03B	23.26B	23.07B
Cash, Cash Equivalents and Short-Term Investments	801.92M	4.57B	2.36B	835.79M	1.76B	1.26B
Total Debt	11.06B	10.87B	9.23B	5.58B	3.81B	3.70B
Total Liabilities	18.55B	18.35B	14.26B	11.39B	10.97B	9.03B
Stockholders Equity	12.45B	12.30B	12.21B	12.64B	12.29B	14.23B
Cash Flow
Free Cash Flow	395.97M	-2.17B	-3.67B	-1.00B	-304.84M	940.40M
Operating Cash Flow	1.71B	1.54B	1.12B	1.91B	1.48B	2.05B
Investing Cash Flow	-1.30B	-3.71B	-4.77B	-2.90B	-1.73B	-886.10M
Financing Cash Flow	352.19M	3.62B	3.63B	1.18B	-375.52M	-1.59B

Dredging Corporation of India Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price817.60

Price Trends

50DMA976.33Negative

100DMA1029.54Negative

200DMA1005.17Negative

Market Momentum

MACD-42.23Negative

RSI31.68Neutral

STOCH54.30Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DREDGECORP, the sentiment is Negative. The current price of 817.60 is below the 20-day moving average (MA) of 871.86, below the 50-day MA of 976.33, and below the 200-day MA of 1005.17, indicating a bearish trend. The MACD of -42.23 indicates Negative momentum. The RSI at 31.68 is Neutral, neither overbought nor oversold. The STOCH value of 54.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DREDGECORP.

Dredging Corporation of India Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:DREDGECORP against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:LT	68Neutral	INR 5.31T	27.40	―	0.99%	11.15%	17.37%
IN:RITES	68Neutral	INR 90.59B	21.72	―	4.27%	10.62%	8.14%
IN:CEMPRO	58Neutral	INR 232.89B	36.11	―	0.24%	10.02%	46.78%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:HCC	47Neutral	INR 44.98B	22.26	―	―	-20.64%	-12.46%
IN:DREDGECORP	45Neutral	INR 22.89B	46.38	―	―	7.13%	―
IN:AFCONS	44Neutral	INR 75.80B	52.83	―	0.97%	-11.87%	-73.37%

* General Sector Average

Performance Comparison

IN:DREDGECORP and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:DREDGECORP	Dredging Corporation of India Limited	817.60	-71.35	-8.03%
IN:AFCONS	Afcons Infrastructure Limited	206.10	-240.65	-53.87%
IN:HCC	Hindustan Construction Co. Ltd.	17.17	-11.36	-39.82%
IN:CEMPRO	ITD Cementation India Limited	1262.80	407.14	47.58%
IN:LT	Larsen & Toubro Limited	3858.00	-83.60	-2.12%
IN:RITES	RITES Ltd.	188.50	-50.62	-21.17%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Sep 06, 2026

Dredging Corporation of India Limited AI Stock Analysis

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