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Last Updated: April 2, 2026, 2:51 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 523618 | NSE: DREDGECORP

Dredging Corporation of India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹181.93Overvalued by 78.05%vs CMP ₹829.00

P/E (15.0) × ROE (3.7%) × BV (₹405.00) × DY (2.00%)

Defaults: P/E=15

₹337.30Overvalued by 59.31%vs CMP ₹829.00
MoS: -145.8% (Negative)Confidence: 55/100 (Moderate)Models: All 4: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹96.3739%Over (-88.4%)
Net Asset ValueAssets₹413.4324%Over (-50.1%)
EV/EBITDAEnterprise₹664.4120%Over (-19.9%)
Revenue MultipleRevenue₹407.7218%Over (-50.8%)
Consensus (4 models)₹337.30100%Overvalued
Key Drivers: EPS CAGR -47.0% drags value — could be higher if earnings stabilize. | ROE 3.7% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -47.0% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

52
Dredging Corporation of India Ltd scores 52/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health39/100 · Weak
ROCE 0.3% WeakROE 3.7% WeakD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 2/5 years Inconsistent
Smart Money75/100 · Strong
FII holding up 0.06% (6mo) Slight increaseDII holding up 1.55% MF buyingPromoter holding at 73.5% Stable
Earnings Quality65/100 · Strong
OPM expanding (7% → 17%) Improving
Quarterly Momentum60/100 · Moderate
Revenue (4Q): +25% YoY AcceleratingOPM: 12.0% (down 4.0% YoY) Margin pressure
Industry Rank30/100 · Weak
ROCE 0.3% vs industry 48.4% Below peersROE 3.7% vs industry 7.4% Below peers3Y sales CAGR: 13% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:51 am

Market Cap 2,322 Cr.
Current Price 829
Intrinsic Value₹337.30
High / Low 1,246/495
Stock P/E
Book Value 405
Dividend Yield0.00 %
ROCE0.31 %
ROE3.67 %
Face Value 10.0
PEG Ratio0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Dredging Corporation of India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Dredging Corporation of India Ltd 2,322 Cr. 829 1,246/495 4050.00 %0.31 %3.67 % 10.0
Sun Pharma Advanced Research Company Ltd 3,905 Cr. 120 204/108 10.80.00 %298 %% 1.00
Logica Infoway Ltd 322 Cr. 181 267/16323.5 53.00.00 %14.3 %14.1 % 10.0
Syngene International Ltd 15,973 Cr. 396 761/38139.0 1180.32 %13.5 %10.5 % 10.0
Mipco Seamless Rings (Gujarat) Ltd 9.64 Cr. 26.9 37.4/22.0964 3.710.00 %%% 10.0
Industry Average5,630.50 Cr219.61271.38103.340.05%48.42%7.44%9.00

All Competitor Stocks of Dredging Corporation of India Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 371337204198265278151204324462242212276
Expenses 310505148141197259139206272386195187243
Operating Profit 61-1675657691912-25277472533
OPM % 16%-50%28%29%26%7%8%-1%16%17%19%12%12%
Other Income 11101112316-1111
Interest 13777877171217312311
Depreciation 35493533343937383938403748
Profit before tax 14-223161728-26-31-331721-23-33-25
Tax % 3%0%3%4%2%1%1%2%4%-1%1%3%0%
Net Profit 14-223151727-26-31-341621-23-34-25
EPS in Rs 4.94-79.625.415.999.72-9.28-11.21-11.975.747.64-8.33-12.21-8.80

Last Updated: February 6, 2026, 3:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 30, 2026, 5:00 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 7707356665855926927507648011,1659461,1421,193
Expenses 5845615364694575256117986831,1847441,0021,011
Operating Profit 186174130116135167139-34118-19202140181
OPM % 24%24%19%20%23%24%19%-4%15%-2%21%12%15%
Other Income 2102614207631933243
Interest 12261818201814201229283882
Depreciation 1389293100113113117119120150141152162
Profit before tax 39654512224313-1705-19535-26-60
Tax % 3%4%7%40%21%12%59%1%25%1%5%5%
Net Profit 386242717386-1724-19633-27-61
EPS in Rs 13.4122.2914.972.656.1213.581.97-61.521.28-70.0711.85-9.81-21.70
Dividend Payout % 22%13%20%0%33%22%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)63.16%-32.26%-83.33%142.86%123.53%-84.21%-2966.67%102.33%-5000.00%116.84%-181.82%
Change in YoY Net Profit Growth (%)0.00%-95.42%-51.08%226.19%-19.33%-207.74%-2882.46%3068.99%-5102.33%5116.84%-298.65%

Dredging Corporation of India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:5%
5 Years:9%
3 Years:13%
TTM:38%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-195%
Stock Price CAGR
10 Years:7%
5 Years:18%
3 Years:28%
1 Year:-31%
Return on Equity
10 Years:-2%
5 Years:-6%
3 Years:-5%
Last Year:-4%

Last Updated: September 5, 2025, 3:10 am

Balance Sheet

Last Updated: December 4, 2025, 1:11 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 28282828282828282828282828
Reserves 1,3951,4461,4741,4931,5161,5471,5421,3671,3791,2011,2271,1931,130
Borrowings 1,2571,0401,0138188096525524272732815589231,059
Other Liabilities 427270319333296236349444627817581503465
Total Liabilities 3,1082,7842,8342,6722,6492,4632,4712,2662,3072,3262,3952,6472,682
Fixed Assets 2,1881,8711,9281,8081,8171,7191,6541,6091,5801,5311,4301,3431,267
CWIP 013826438812295344584728
Investments 303044440000000
Other Assets 890882864834786733809645698791620721687
Total Assets 3,1082,7842,8342,6722,6492,4632,4712,2662,3072,3262,3952,6472,682

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 26821215887138148117176205148191112
Cash from Investing Activity + -733-9-17-8136-1-89-173-290-477
Cash from Financing Activity + 493-142-127-141-127-145-142-166-159-38118363
Net Cash Flow 286114-62127-1910-43-6319-2
Free Cash Flow -46819813174130148117173114-27-100-367
CFO/OP 153%133%134%84%69%95%82%-534%181%-858%98%68%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow185.00173.00129.00-702.00-674.00-485.00-413.00-461.00-155.00-300.00-356.00-783.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 1731851881771471351229696846881
Inventory Days
Days Payable
Cash Conversion Cycle 1731851881771471351229696846881
Working Capital Days 18217816120117815513122-90-98-88-19
ROCE %2%3%2%1%1%3%1%-8%0%-10%4%-0%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 73.47%73.47%73.47%73.47%73.47%73.47%73.47%73.47%73.47%73.47%73.47%73.47%
FIIs 0.36%0.15%0.25%0.11%0.30%0.34%0.18%0.18%0.45%0.21%0.14%0.51%
DIIs 7.12%7.12%6.36%5.30%5.14%5.09%5.63%6.60%6.60%6.25%6.63%8.15%
Government 0.07%0.07%0.07%0.07%0.08%0.08%0.08%0.08%0.08%0.08%0.08%0.08%
Public 18.98%19.19%19.86%21.06%21.01%21.02%20.65%19.67%19.40%19.99%19.69%17.78%
No. of Shareholders 47,83247,46950,17449,26445,57145,34648,62546,37946,26548,12847,60347,651

Shareholding Pattern Chart

No. of Shareholders

Dredging Corporation of India Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Invesco India PSU Equity Fund 646,300 4.88 72.76471,8102025-12-14 04:26:2236.98%
Invesco India Infrastructure Fund 384,198 3.24 43.25317,3742026-02-23 00:44:2521.06%
Invesco India Flexi Cap Fund 121,027 0.3 13.6283,9442026-02-23 00:44:2544.18%
WhiteOak Capital Special Opportunities Fund 50,432 0.41 5.68N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 15
FaceValue 10.00
Basic EPS (Rs.) 22.29
Diluted EPS (Rs.) 22.29
PBDIT Margin (%) 24.76
PBIT Margin (%) 12.23
PBT Margin (%) 8.89
Net Profit Margin (%) 8.49
NP After MI And SOA Margin (%) 8.49
Interest Coverage Ratio (X) 3.50
Interest Coverage Ratio (Post Tax) (X) 3.39

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Dredging Corporation Of India Ltd. is a Public Limited Listed company incorporated on 29/03/1976 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L29222DL1976PLC008129 and registration number is 008129. Currently Company is involved in the business activities of Construction of waterways, harbours and river works, dredging of waterways. Company's Total Operating Revenue is Rs. 1142.14 Cr. and Equity Capital is Rs. 28.00 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
MiscellaneousCore: 2, 1st Floor, Delhi Delhi 110092Contact not found
Management
NamePosition Held
Dr. Madhaiyaan AngamuthuChairman, Non Ind & Non Exe Director
Mr. Durgesh Kumar DubeyManaging Director & CEO
Mr. P L HaranadhNon Exe.Non Ind.Director
Mr. Sushil Kumar SinghNon Exe.Non Ind.Director
Mr. Unmesh Sharad WaghNon Exe.Non Ind.Director
Mrs. Nutan Guha BiswasInd. Non-Executive Director
Mr. Vinod Kumar PiperseniaInd. Non-Executive Director
Mr. Rajiv JalotaInd. Non-Executive Director
Mr. Sanjay PantInd. Non-Executive Director
Mr. Lov VermaInd. Non-Executive Director

FAQ

What is the intrinsic value of Dredging Corporation of India Ltd and is it undervalued?

As of 14 April 2026, Dredging Corporation of India Ltd's intrinsic value is ₹337.30, which is 59.31% lower than the current market price of ₹829.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (3.67 %), book value (₹405), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Dredging Corporation of India Ltd?

Dredging Corporation of India Ltd is trading at ₹829.00 as of 14 April 2026, with a FY2026-2027 high of ₹1,246 and low of ₹495. The stock is currently in the middle of its 52-week range. Market cap stands at ₹2,322 Cr..

How does Dredging Corporation of India Ltd's P/E ratio compare to its industry?

Dredging Corporation of India Ltd has a P/E ratio of , which is below the industry average of 271.38. This is broadly in line with or below the industry average.

Is Dredging Corporation of India Ltd financially healthy?

Key indicators for Dredging Corporation of India Ltd: ROCE of 0.31 % is on the lower side compared to the industry average of 48.42%; ROE of 3.67 % is below ideal levels (industry average: 7.44%). Dividend yield is 0.00 %.

Is Dredging Corporation of India Ltd profitable and how is the profit trend?

Dredging Corporation of India Ltd reported a net profit of ₹-27 Cr in Mar 2025 on revenue of ₹1,142 Cr. Compared to ₹4 Cr in Mar 2022, the net profit shows a declining trend.

Does Dredging Corporation of India Ltd pay dividends?

Dredging Corporation of India Ltd has a dividend yield of 0.00 % at the current price of ₹829.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Dredging Corporation of India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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