DREDGING CORPORATION OF INDIA (DREDGECORP): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹874 latest close · −18.9% over the last 90 sessions

₹874 month-end · +1.9% over 12 months

₹874 month-end · +68.4% over 3 years

₹874 month-end · +113.7% since Jan '19

52-week range ₹740.00 to ₹1286.00 · 1-year volatility 55.8%

How rough has the ride been?

Maximum drawdown-73.2%recovered 2023-08

1-year volatility55.8%annualised

Beta vs sector index0.753-year daily, correlation 0.33

Volume spikes1last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-73.2% (2019-01 peak to 2020-03 low, recovered 2023-08)

-64.6% (2024-07 peak to 2025-04 low, not yet recovered)

-29.1% (2024-01 peak to 2024-03 low, recovered 2024-05)

Most recent volume spikes

2026-08-14: 9.8x the 50-day median, price +9.6% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

62.3xP/E todayWithin its usual range

Against its own history32nd percentile

CheapestMedian 129.9xDearest

Usual range 24.1x to 286.9x since 2019-01.

Against Transportation62.3x vs 15.9x

This company

62.3x

Sector median

15.9x

290% above the Transportation median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianTransportation median

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P/B (this company)10th to 90th percentile of its own historyIts medianTransportation median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianTransportation median

How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Transportation is valued

Where does it rank among Transportation peers?

Each cell is the company's percentile rank among its Transportation peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

ROCE12th▲ 9 pts vs a year ago
Op. margin63rd▲ 3 pts vs a year ago
Revenue growth35th▼ 49 pts vs a year ago
EPS growth2nd
Debt/equity ↓36th▼ 7 pts vs a year ago
Cash cycle ↓53rd▲ 20 pts vs a year ago
P/E ↓17th
12M momentum72nd▲ 3 pts vs a year ago

Rank history

ROCE

Op. margin

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Transportation sector page Watch it move against Transportation in the Observatory

What is the price implying?

~29%annual earnings growth implied by the priceAbove delivered growth

At P/E of 62.3x, a holder earning 12%/yr needs earnings to grow about 29.1%/yr for 10 years, then trade at 15x.

Delivered−21.9%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg

Gap+51.0 ptsimplied minus delivered

Rank10thmost demanding of 856

Over time

Implied growth by month (solid) and delivered growth (dashed).

Change the assumptions

Exit P/E / return	11%	12%	13%
12x	30.9%	32.0%	33.2%
15x	28.0%	29.1%	30.3%
20x	24.3%	25.5%	26.6%

Drag a slider to test other assumptions

Required return 12.0% Years 10 Exit P/E 15x Implied: 29.1%/yr

Looking back

Jan 2020Price implied 18%/yr; EPS has since grown −25%/yr (7.0 yrs)
Jan 2021Price implied 22%/yr; EPS has since grown −3%/yr (6.0 yrs)

Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.

What prices imply across Transportation The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹874.00
P/E: 62.3x
ROCE: 4.0%
Market Cap: ₹2448 cr
Revenue (TTM): ₹1321 cr
P/S: 1.9x
P/B: 2.0x
ROE: 3.2%
Operating Margin: 17.0%
Debt / Equity: 0.9x
Promoter Holding: 73.5%
12M Momentum: 1.9%

52-week range

₹740.00₹1286.00

25% of the way from its 52-week low to its high

Price risk

1Y volatility

55.8%

Beta vs sector

1-year daily

0.78

Balance sheet & cash

Interest cover

operating profit ÷ interest

1.6x

Cash from profit, 3Y

operating cash flow ÷ net profit

5.00x

Share count, 1Y

unchanged

Are profits backed by cash?

3 of 6checks within range3 beyond a threshold

Other income reliance12%Within range

Other income as a share of pre-tax profit (trailing twelve months): 12.2%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate1%Beyond threshold

Median quarterly effective tax rate over about 2.5 years: 1.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion40.45xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 40.45x (cash from operations ₹445 cr, net profit ₹11 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow1 of 5 yrsBeyond threshold

Fiscal years with positive free cash flow in the last 5: 1. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-11 daysWithin range

Debtor days are below the median of the previous three fiscal years by 11 days (71 vs 82). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress74% of fixed assetsBeyond threshold

Capital work-in-progress is 74% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 2 years, DIIs added 1.4 pts; FIIs added 0.9 pts.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change

Promoters73.5%73.5%0.0 pts

FIIs0.1%1.0%+0.9 pts

DIIs5.3%6.7%+1.4 pts

Public and others21.1%18.8%-2.3 pts

Number of shareholders

49,078shareholders-0% since Dec '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−6.6%typical 12-month return vs the marketNot meaningfully different from the base rate

We found 50 past situations where a non-financial company looked like DREDGING CORPORATION OF INDIA today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −33% to +46% vs the market, against −4% for all non-financial companies in the same months.
The gap against the base rate (−2.8%, 80% range −13.4% to +13.8%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 8 beyond the range shown, drawn at the edge

Similar setups' median

−6.6%

All companies' median

−3.8%

Beat the market

46% vs 46%

50 past situations · 50 companies · 35 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
SANGHIIND Non-Energy Minerals	Feb 2023	37x	4%	+27%	−23%	+23%
SOMANYCERA Producer Manufacturing	Sep 2020	55x	7%	+3%	−20%	+137%
HIRECT Producer Manufacturing	Feb 2025	61x	—	+17%	−46%	+42%
SOLARA Health Technology	Sep 2025	89x	6%	−24%	−29%	+20%
ACLGATI Transportation	Jan 2020	41x	7%	−7%	−26%	+10%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
DYNAMATECH Producer Manufacturing	Jun 2022	75x	9%	+29%	−43%	+73%
BASML Process Industries	May 2021	193x	6%	+145%	−10%	−10%
INDIACEM Non-Energy Minerals	Dec 2022	86x	3%	+14%	−25%	−7%

How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: drawdown from 12-month high, 12-month momentum and P/S. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to DREDGING CORPORATION OF INDIA. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

DEE DEVELOPMENT ENGINEERSDEEDEV

Producer Manufacturing

68%similar

operating margindebt/equity

YASHO INDUSTRIESYASHO

Consumer Non-Durables

62%similar

P/Edebt/equity

ORIENTAL AROMATICSOAL

Process Industries

57%similar

ROCEpromoter holding

HIKALHIKAL

Health Technology

53%similar

ROCEmarket cap

SAL STEELSALSTEEL

Non-Energy Minerals

52%similar

P/EROCE

SINDHU TRADE LINKSSINDHUTRAD

Transportation

45%similar

ROCEoperating margin

ALLCARGO TERMINALSATL

Transportation

34%similar

revenue growthdebt/equity

AEGIS VOPAK TERMINALSAEGISVOPAK

Transportation

28%similar

debt/equityP/E

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Nov '22

2026
SepResultsRevenue (TTM) reached a new high of ₹1,321 cr.
SepPeer rankSlipped to the 2nd quartile of Transportation on operating margin (from the top quartile).
AugPriceVolume reached 9.8x its 50-day median on 2026-08-14; price +9.6% that day.
JunResultsEPS (TTM) turned positive.
JunValuationP/E crossed above the 90th percentile of its own history to date (645.3x).
JunPeer rankMoved into the top quartile of Transportation on operating margin (from the 2nd quartile).
MayPriceVolume reached 63.8x its 50-day median on 2026-05-20; price +8.3% that day.
JanPriceVolume reached 9.2x its 50-day median on 2026-01-29; price +16.7% that day.

Show 22 earlier events

2025
OctPriceVolume reached 148.1x its 50-day median on 2025-10-29; price +17.1% that day.
SepResultsRevenue (TTM) reached a new high of ₹1,232 cr.
SepPriceVolume reached 18.4x its 50-day median on 2025-09-22; price +4.8% that day.
MayPriceVolume reached 55.5x its 50-day median on 2025-05-21; price +10.6% that day.
AprPriceFell 65% from the Jul 2024 peak to the Apr 2025 low.
MarPeer rankMoved into the 2nd quartile of Transportation on operating margin (from the bottom quartile).
MarPriceVolume reached 5.6x its 50-day median on 2025-03-21; price +2.2% that day.
2024
DecPeer rankSlipped to the bottom quartile of Transportation on operating margin (from the 3rd quartile).
OctPriceVolume reached 5.7x its 50-day median on 2024-10-10; price +5.0% that day.
SepResultsEPS (TTM) turned negative.
JunResultsEPS (TTM) turned positive.
JunPriceVolume reached 11.7x its 50-day median on 2024-06-12; price +10.0% that day.
MayPriceRegained the 2024-01 peak, 2 months after the low.
MarPriceFell 29% from the Jan 2024 peak to the Mar 2024 low.
JanPriceVolume reached 13.9x its 50-day median on 2024-01-16; price +9.0% that day.
2023
DecPriceVolume reached 27.7x its 50-day median on 2023-12-07; price +9.6% that day.
AugPriceRegained the 2019-01 peak, 41 months after the low.
AugPriceVolume reached 88.8x its 50-day median on 2023-08-22; price +17.5% that day.
JunResultsEPS (TTM) turned negative.
AprPriceVolume reached 9.9x its 50-day median on 2023-04-26; price +3.8% that day.
MarPriceVolume reached 7.6x its 50-day median on 2023-03-10; price +0.5% that day.
2022
NovPriceVolume reached 31.7x its 50-day median on 2022-11-14; price +10.6% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history95 months · 2019-01 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	62.3x	₹1321 cr	3.2%	4.0%	0.9x
2026-10	58.2x	₹1321 cr	3.2%	4.0%	0.9x
2026-09	65.5x	₹1321 cr	3.2%	4.0%	0.9x
2026-08	648.4x	₹1208 cr	0.4%	4.0%	0.9x
2026-07	670.2x	₹1208 cr	0.4%	4.0%	0.9x
2026-06	645.3x	₹1208 cr	0.4%	4.0%	0.9x
2026-05	—	₹1192 cr	-5.0%	0.0%	0.8x
2026-04	—	₹1192 cr	-5.0%	0.0%	0.8x
2026-03	—	₹1192 cr	-5.0%	0.0%	0.8x
2026-02	—	₹1240 cr	-1.6%	0.0%	0.8x
2026-01	—	₹1240 cr	-1.6%	0.0%	0.8x
2025-12	—	₹1240 cr	-1.6%	0.0%	0.8x
2025-11	—	₹1232 cr	-1.6%	0.0%	0.8x
2025-10	—	₹1232 cr	-1.6%	0.0%	0.8x
2025-09	—	₹1232 cr	-1.6%	0.0%	0.8x
2025-08	—	₹1141 cr	-2.3%	0.0%	0.8x
2025-07	—	₹1141 cr	-2.3%	0.0%	0.8x
2025-06	—	₹1141 cr	-2.3%	0.0%	0.8x
2025-05	—	₹957 cr	-6.0%	4.0%	0.4x
2025-04	—	₹957 cr	-6.0%	4.0%	0.4x
2025-03	—	₹957 cr	-6.0%	4.0%	0.4x
2025-02	—	₹898 cr	-5.1%	4.0%	0.4x
2025-01	—	₹898 cr	-5.1%	4.0%	0.4x
2024-12	—	₹898 cr	-5.1%	4.0%	0.4x
2024-11	—	₹892 cr	-1.0%	4.0%	0.4x
2024-10	—	₹892 cr	-1.0%	4.0%	0.4x
2024-09	—	₹892 cr	-1.0%	4.0%	0.4x
2024-08	74.3x	₹945 cr	2.6%	4.0%	0.4x
2024-07	100.7x	₹945 cr	2.6%	4.0%	0.4x
2024-06	93.1x	₹945 cr	2.6%	4.0%	0.4x
2024-05	—	₹1165 cr	-15.9%	-10.0%	0.2x
2024-04	—	₹1165 cr	-15.9%	-10.0%	0.2x
2024-03	—	₹1165 cr	-15.9%	-10.0%	0.2x
2024-02	—	₹1165 cr	-15.9%	-10.0%	0.2x
2024-01	—	₹1165 cr	-15.9%	-10.0%	0.2x
2023-12	—	₹1165 cr	-15.9%	-10.0%	0.2x
2023-11	—	₹1165 cr	-15.9%	-10.0%	0.2x
2023-10	—	₹1165 cr	-15.9%	-10.0%	0.2x
2023-09	—	₹1165 cr	-15.9%	-10.0%	0.2x
2023-08	—	₹1165 cr	-15.9%	-10.0%	0.2x
2023-07	—	₹1165 cr	-15.9%	-10.0%	0.2x
2023-06	—	₹1165 cr	-15.9%	-10.0%	0.2x
2023-05	245.4x	₹801 cr	0.3%	0.0%	0.2x
2023-04	252.3x	₹801 cr	0.3%	0.0%	0.2x
2023-03	221.1x	₹801 cr	0.3%	0.0%	0.2x
2023-02	253.2x	₹801 cr	0.3%	0.0%	0.2x
2023-01	285.1x	₹801 cr	0.3%	0.0%	0.2x
2022-12	303.2x	₹801 cr	0.3%	0.0%	0.2x
2022-11	337.5x	₹801 cr	0.3%	0.0%	0.2x
2022-10	266.0x	₹801 cr	0.3%	0.0%	0.2x
2022-09	227.6x	₹801 cr	0.3%	0.0%	0.2x
2022-08	227.1x	₹801 cr	0.3%	0.0%	0.2x
2022-07	215.6x	₹801 cr	0.3%	0.0%	0.2x
2022-06	204.5x	₹801 cr	0.3%	0.0%	0.2x
2022-05	—	₹764 cr	-12.3%	-8.0%	0.3x
2022-04	—	₹764 cr	-12.3%	-8.0%	0.3x
2022-03	—	₹764 cr	-12.3%	-8.0%	0.3x
2022-02	—	₹764 cr	-12.3%	-8.0%	0.3x
2022-01	—	₹764 cr	-12.3%	-8.0%	0.3x
2021-12	—	₹764 cr	-12.3%	-8.0%	0.3x
2021-11	—	₹764 cr	-12.3%	-8.0%	0.3x
2021-10	—	₹764 cr	-12.3%	-8.0%	0.3x
2021-09	—	₹764 cr	-12.3%	-8.0%	0.3x
2021-08	—	₹764 cr	-12.3%	-8.0%	0.3x
2021-07	—	₹764 cr	-12.3%	-8.0%	0.3x
2021-06	—	₹764 cr	-12.3%	-8.0%	0.3x
2021-05	199.0x	₹750 cr	0.4%	1.0%	0.4x
2021-04	184.6x	₹750 cr	0.4%	1.0%	0.4x
2021-03	188.2x	₹750 cr	0.4%	1.0%	0.4x
2021-02	208.5x	₹750 cr	0.4%	1.0%	0.4x
2021-01	142.7x	₹750 cr	0.4%	1.0%	0.4x
2020-12	168.2x	₹750 cr	0.4%	1.0%	0.4x
2020-11	146.6x	₹750 cr	0.4%	1.0%	0.4x
2020-10	120.9x	₹750 cr	0.4%	1.0%	0.4x
2020-09	132.3x	₹750 cr	0.4%	1.0%	0.4x
2020-08	146.3x	₹750 cr	0.4%	1.0%	0.4x
2020-07	131.9x	₹750 cr	0.4%	1.0%	0.4x
2020-06	127.9x	₹750 cr	0.4%	1.0%	0.4x
2020-05	16.6x	₹692 cr	2.4%	3.0%	0.4x
2020-04	16.8x	₹692 cr	2.4%	3.0%	0.4x
2020-03	10.7x	₹692 cr	2.4%	3.0%	0.4x
2020-02	20.8x	₹692 cr	2.4%	3.0%	0.4x
2020-01	24.1x	₹692 cr	2.4%	3.0%	0.4x
2019-12	24.5x	₹692 cr	2.4%	3.0%	0.4x
2019-11	25.7x	₹692 cr	2.4%	3.0%	0.4x
2019-10	26.3x	₹692 cr	2.4%	3.0%	0.4x
2019-09	24.5x	₹692 cr	2.4%	3.0%	0.4x
2019-08	24.1x	₹692 cr	2.4%	3.0%	0.4x
2019-07	24.2x	₹692 cr	2.4%	3.0%	0.4x
2019-06	31.6x	₹692 cr	2.4%	3.0%	0.4x
2019-05	65.7x	₹592 cr	1.1%	1.0%	0.5x
2019-04	60.8x	₹592 cr	1.1%	1.0%	0.5x
2019-03	69.6x	₹592 cr	1.1%	1.0%	0.5x
2019-02	56.0x	₹592 cr	1.1%	1.0%	0.5x
2019-01	66.8x	₹592 cr	1.1%	1.0%	0.5x

Methodology and data notes