1.INTRODUCTION:
Dredging Corporation of India Limited (DCI) was established in 1976 to provide integrated dredging services to the Major Ports of the Country. DCI is a Schedule B, Mini Ratna Category-I Public Sector Undertaking under the administrative control of Ministry of Shipping, Government of India. Clients include Major Ports, non-major Ports, Indian Navy, State Governments etc.
2.FINANCIAL RESULTS FOR THE YEAR 2014-15:
The Profit after tax for the year 2014-15 is Rs.62 Cr. a 66% Jump over the previous year figure of Rs.38 Cr.
3.CAPACITY CAPALISATION
For the first time in recent years the capacity utilisation of the company has been 100 % in terms of both targeted days and volume.
4.EARNING PER SHARE:
The Company’s earning per share for 2014-2015 is Rs.22.29 as compared to Rs.13.41 for the previous year, a 66% Jump.
5.DIVIDEND
Dividend @ 30% on the paid up capital of the company i.e Rs.3 per equity share of Rs.10 each has been declared for the year 2014-15 as against 30% for the previous year.
6.DREDGING OPERATIONS:
The Company is catering to the dredging requirements of the Haldia/ Kolkata Port for the past thirty years. The Company also caters to the maintenance dredging requirements of other major ports/ India Navy etc. The Company is taking up capital dredging assignments depending on the availability of the vessels and other logistic requirements.
During the year under review, maintenance dredging contracts were executed for Haldia/ Kolkata Port Trust, Visakhapatnam Port Trust, Cochin Port Trust, Kandla Port Trust. Capital Dredging Contracts were executed at Kandla Port Trust, Cochin Port Trust, Visakhapatnam Port Trust and Ennore Port Ltd.
The above works were executed either under the existing contracts or renewal of the contracts entered into with the Ports etc., during the previous years or new contracts entered into during the year.
7.CORPORATE SOCIAL RESPONSIBILITY:
During the year the Company has spent total Rs.120 Lakh under CSR - Rs.70 lakh towards CSR activities by constructing toilets for 10 schools and for purchase of medical equipment for KGH Government Hospital in Visakhapatnam and Rs.50 Lakhs to the AP Chief Minster’s Relief fund for providing relief to those affected by the Hudhud Cyclone that struck Visakhapatnam recently. This is the highest amount spent by the Company towards CSR in recent years.