Mukul Agrawal-Backed Shipping Company Hits Upper Circuit Today; Stock Gains Over 275 per cent in just 1 Year!

The company’s shares have delivered an impressive multibagger returns of over 275 per cent in just 1 Year.

Dredging Corporation of India Limited (DCI) is a prominent provider of integrated dredging services in India, catering primarily to ports, the Indian Navy, and other maritime organizations. The company's diverse service portfolio includes maintenance dredging, which involves restoring depth and removing accumulated materials in ports and harbors to ensure safe navigation and operational efficiency. Additionally, DCI undertakes capital dredging projects, where it excavates virgin soil to create and maintain specified depths in water bodies or adjacent areas.

At the start of the day's trading session, the share of Dredging Corporation of India Limited (DCI) opened at Rs 1273.80 per share, compared to the previous day's closing figure of Rs 1213.15 per share on the BSE. The stock has attracted a heavy volume today, reflecting strong demand in the market, and hits the upper circuit. The current market capitalization stands at Rs 3566.54 crore, and the stock has generated an impressive multibagger return of over 275 per cent in just 1 year. 

As per the Quarterly Results, in the fourth quarter of FY24, Dredging Corporation of India Limited recorded a revenue of Rs 278 crore. The operating profit for Q4 FY24 stood at Rs 22 crore. The net loss for Q4 FY24 was Rs 23 crore. Looking at the annual performance, the company generated a revenue of Rs 946 crore in FY24, compared to Rs 1165 crore in FY23. The operating profit for FY24 was Rs 204 crore, with a net profit of Rs 36 crore compared to a profit of Rs 13 crore.

Regarding the shareholding pattern, the promoters own 73.47 per cent of the company and the public or retail investors hold 21.01 per cent.

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

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