Dredging Corporation of India

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Dredging Corporation of India Limited
Native name
भारत निकर्षण निगम लिमिटेड
Public Sector Undertaking
Traded as
Industry
Founded March 9, 1976 (1976-03-09)[1]
Headquarters Visakhapatnam, India
Key people
  • Rajesh Tripathi (Chairman & Managing Director)
  • S.Charles (Director Finance)
  • M S Rao (Director - Operations & Technical)
[2]
Products Maintenance Dredging, Capital Dredging, Land Reclamation, Beach Nourishment
Revenue Decrease 7,437.9 million (US$110 million)[3] (2014)
Profit Increase 624 million (US$9.3 million)[3] (2014)
Number of employees
566[3] (2014)
Website dredge-india.com

Dredging Corporation of India Limited, or DCI, is a Miniratna Indian public sector unit engaged in the business of dredging.[4] DCI does dredging for Indian seaports exclusively.It occasionally dredges at foreign seaports in countries such as Sri Lanka, Taiwan and Dubai.[5][6][7] It is mainly involved in maintenance dredging. Almost all the maintenance dredging in Indian seaports is carried out by DCI due to government regulations.[8][9] DCI is also involved in capital dredging, beach nourishment, and land reclamation.[10] The main seaports in which DCI does business are Visakhapatnam Port, Haldia, Kandla, Cochin Port and Ennore Port.

DCI is headquartered at Visakhapatnam and has project offices at many seaports in India. It reports to the Ministry of Shipping (India).[11] It is ISO 14001:2004 and ISO 9001:2008 certified.

About

DCI was incorporated as a private company in March 1976. Soon after it converted into a public company on March 10, 1992 under the Companies Act 1956.[1] It was listed on CSE and DSE stock exchanges in October 1992 and debuted on BSE on February 28, 2000.[12] It went for an Initial public offering in March 2004.[13] DCI engaged IHC Dredgers BV, Netherlands for design, construction and delivery of 5500 cu. m TSHD in 2011.[14] It changed strategy to raise funds for purchasing additional dredgers by asking the seaports for investments.[15] The capital thus raised was used to replenish its old fleet. The Government of India reduced current stake in the company by 5 percent.[16][17] The offer for sale of 5 percent stake was well received by the investors.[18] As part of its diversification plans DCI expresses interest to foray into international markets.[19] Ex-chairman and managing director, Abraham Kuruvilla finds mention in bringing widespread reforms in the corporate management techniques at DCI.[20][21][22]

Financial Performance Summary

The company has been through some rough weather with profits and revenues fluctuating wildly (see table below for detailed information). This is mainly due to its high dependency on Government funded projects and associated macro level economic fluctuations in the country.[3]

Year Revenue % Change Profit % Change
2015 7,437.9 million (US$110 million) Decrease −3.74% 624 million (US$9.3 million) Increase 66.18%
2014 7,727.0 million (US$110 million) Increase 21.11% 375.5 million (US$5.6 million) Increase 83.08%
2013 6,380.2 million (US$95 million) Increase 28.22% 205.1 million (US$3.0 million) Increase 55.61%
2012 4,976.1 million (US$74 million) Decrease −4.80% 131.8 million (US$2.0 million) Decrease −66.64%
2011 5,227.2 million (US$78 million) Decrease −24.67% 395.1 million (US$5.9 million) Decrease −43.60%
2010 6,939.5 million (US$100 million) Decrease −16.61% 700.5 million (US$10 million) Increase 51.07%
2009 8,322.2 million (US$120 million) Increase 7.87% 463.7 million (US$6.9 million) Decrease −70.05%
2008 7,714.7 million (US$110 million) Increase 23.20% 1,548.2 million (US$23 million) Decrease −17.97%
2007 6,262.1 million (US$93 million) Increase 14.96% 1,887.3 million (US$28 million) Increase 6.95%

Products

Dredger product line consists mainly of Trailing Suction Hopper Dredgers(TSHD), Cutter Suction Dredgers (CSD) and Backhoe Dredgers.[23]

List of TSHD Class dredgers includes DCI Dredge VI,DCI Dredge VIII,DCI Dredge IX,DCI Dredge XI,DCI Dredge XII,DCI Dredge XIV,DCI Dredge XV,DCI Dredge XVI,DCI Dredge XVII,DCI Dredge XIX,DCI Dredge XX and DCI Dredge XXI. CSD category dredgers' fleet comprises DCI Dredge VII,DCI Dredge Aquarius and DCI Dredge XVIII. There is one Backhoe Dredger namely DCI Dredge BH1. There are multiple Survey Launches pressed into service viz. DCI Survey Launch I,DCI Survey Launch II,DCI Survey Launch III. The entire fleet also includes a multi-purpose craft DCI Multicat I and a special utility purpose craft named DCI Tug VII.

Notable Projects

References

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External links