LIC-backed Marine Company Bagged Order Worth Rs 2,015 Crore; Stock Hits Back-to-Back Upper Circuit for 2 Days, Mukul Agrawal Bought 5,05,000 Shares!

Rakesh Deshmukh
LIC-backed Marine Company Bagged Order Worth Rs 2,015 Crore; Stock Hits Back-to-Back Upper Circuit for 2 Days, Mukul Agrawal Bought 5,05,000 Shares!

The shares of the company have delivered a return of around 250 per cent to its shareholders in just 1 year only.

This Small-Cap company offers comprehensive dredging services to ports, the Indian Navy, and other maritime organizations throughout India has announced that the company has bagged a significant order.

The Syama Prasad Mookerjee Port Authority (SMPA) has awarded the contract for "Maintenance Dredging in the Hooghly Estuary," primarily focusing on the shipping channel leading to Haldia Dock, to Dredging Corporation of India Limited (DCIL). Valued at Rs 2015.88 crore, this 5-year contract is crucial for ensuring the navigability of the shipping channel, thereby facilitating smooth and efficient maritime operations in the region.

The Hooghly Estuary serves as a vital waterway for maritime trade, and maintaining its depth is essential for the safe passage of vessels to and from the Haldia Dock. DCIL, a leader in the dredging industry, has a proven track record of executing large-scale dredging projects with precision and efficiency. The awarding of this contract to DCIL underscores SMPA's commitment to maintaining high standards of maritime infrastructure and ensuring the seamless flow of trade through the Hooghly Estuary.

Also read Under Rs 100: 1:1 Bonus Issue; Multibagger NBFC Stock Hits Upper Circuit; Promoter Bought 11,25,000 Shares in June 2024

Share Performance:

On Wednesday, the share of Dredging Corporation of India closed at around Rs 1129.20 per share, with a market capitalization of Rs 3161.76 crore. The stock has delivered a multibagger return of around 250 per cent in just 1 year. Moreover, the company’s stock hit the upper circuit today as well.

Financial performance:

According to the Quarterly Results, in Q4 FY24, the company reported a revenue of Rs 278 crore and an operating profit of Rs 22 crore. The operating profit margin for the quarter stands at 8 per cent. The company posted a net loss of Rs 23 crore. In FY24, the company reported a revenue of Rs 946 crore compared to Rs 1165 crore, and a net profit of Rs 36 crore, compared to a profit of Rs 13 crore in the previous year.

According to the shareholding patterns, promoters own 73.47 per cent, while FIIs and DIIs own 0.30 per cent and 5.14 per cent and the public investors own 21.01 per cent. In the recent quarter, Mukul Agarwal bought 5,05,000 shares, representing a 1.80 percent stake.

Investors must keep this small-cap stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.

DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.

Rate this article:
4.0

Leave a comment

Add comment

DSIJ MINDSHARE

Mkt Commentary22-Nov, 2024

Mindshare22-Nov, 2024

Mindshare22-Nov, 2024

Bonus and Spilt Shares22-Nov, 2024

Penny Stocks22-Nov, 2024

Knowledge

MF15-Nov, 2024

General15-Nov, 2024

MF14-Nov, 2024

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR