DREDGECORP2023-10-012023-12-31 DREDGECORP2023-10-012023-12-31 DREDGECORP2023-10-012023-12-31in-bse-fin:OneOperatingExpenses01Member DREDGECORP2023-10-012023-12-31in-bse-fin:OneOperatingExpenses02Member DREDGECORP2023-10-012023-12-31in-bse-fin:FourOperatingExpenses01Member DREDGECORP2023-10-012023-12-31in-bse-fin:FourOperatingExpenses02Member DREDGECORP2023-12-31 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 523618 DREDGECORP NOTLISTED Dredging Corporation of India Limited Equity 2023-04-01 2024-03-31 2024-02-13 2024-01-30 INR Lakhs Third quarter 12:00:00 17:30:00 2024-02-13 2024-02-13 Not applicable Single segment Dredging 2023-10-01 2023-12-31 Unaudited Standalone 2654176000.00 8153000.00 2662329000.00 0.00 0.00 0.00 239696000.00 83564000.00 335390000.00 1726623000.00 2385273000.00 277056000.00 0.00 277056000.00 4800000.00 0.00 4800000.00 0.00 272256000.00 0.00 0.00 0.00 0.00 272256000.00 0.00 272256000.00 0.00 0.00 280000000.00 10 9.72 9.72 0.00 0.00 9.72 9.72 0.00 0.00 0.00 1. The Company is engaged in the business of dredging and therefore, has only one reportable segment in accordance with IND AS 108 “Operating Segments”. 2. The financial results for the quarter and nine months ended 31-12-2023 have been reviewed by the Limited review Auditors as required under Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. 4. Trade receivables include a some of Rs.65.84 Cr. due from M/s. Sethusamudram Corporation Ltd (SCL),towards works executed during financial years 2005-06 to 2008-09 as has been recommended by a committee chaired by Additional Secretary and Financial Advisor (AS&FA committee) Government of India. The committee stated that a note seeking approval of the cabinet needs to be moved by SCL for seeking government budgetary resources for SCL to make payment of balance outstanding dues to the company. 5. DCI placed the order in October 2005 for Cutter Suction Dredger (CSD) on Mazagon Dock Limited (MDL) at a cost of Rs. 269.58 Crs and final landed cost of CSD was Rs. 273.74 Crs.MDL delivered the vessel in March 2010(Dredge XVIII) with poor construction, inordinate delay in supply of Dredger, failure to conduct successful trails as envisaged in the contract resulted in poor performance of the Dredger after delivery. In view of above, DCI encased the Performance Bank Guarantee of Rs.27.32 Crs on 01/11/2013 submitted by the contractor. In Feb 2014 MDL has referred the matter to Permanent Machinery of Arbitration (PMA) claiming that Encashment of BG by DCI is bad and illegal, and for refund of Rs.30.35Crs (BG amount along with interest and other charges). Finally, the joint Secretary & Arbitrator of PMA has published the Award on 12.06.2018 in favor of MDL for an amount of Rs.15.00 Crs. However, DCI challenged the award before AMRDC and the matter is still pending there till date. Further, MDL has filed an application before NCLT to initiate the Corporate Insolvency Resolution proceedings against the DCI for recovery of Rs.25.50 Cr by suppressing the fact DCI has filed an appeal against the award of PMA. Now the matter has been referred to Conciliation &Settlement Committee under the Ministry of Ports, Shipping and waterways (MoPSW). MoPSW has advised the DCIL Board to resolve the matter and a Board Agenda note has been submitted for discussion and resolution in this regard on 25.05.2023.The next date of hearing of insolvency petition 09.01.2024. Single segment 2023-04-01 2023-12-31 Unaudited Standalone 6676113000.00 23952000.00 6700065000.00 0.00 0.00 0.00 727408000.00 219464000.00 1013959000.00 4122966000.00 6083797000.00 616268000.00 -7942000.00 608326000.00 16798000.00 0.00 16798000.00 0.00 591528000.00 0.00 0.00 0.00 0.00 591528000.00 0.00 591528000.00 0.00 0.00 280000000.00 10 21.13 21.13 0.00 0.00 21.13 21.13 0.00 0.03 0.09 Other Expenses 973111000.00 Sub Contract Expenses 753512000.00 Other Expenses 3046982000.00 Sub Contract Expenses 1075984000.00