5236182022-04-012022-06-305236182022-04-012022-06-30in-bse-fin:OtherExpenses1Memberiso4217:INRiso4217:INRxbrli:shares

523618

DREDGECORP

INE506A01018

DREDGING CORPORATION OF INDIA LIMITED

Equity

2022-04-01

2023-03-31

2022-08-08

2022-07-28

INR

Lakhs

First quarter

Single segment

DREDGING

2022-08-08

12:00:00

2022-08-08

15:20:00

Not applicable

2022-04-01

2022-06-30

Unaudited

Standalone

2175321000

8355000

2183676000

229287000

35493000

380135000

1693403000

2338318000

-154642000

2472000

-157114000

280000000

-5.61

Notes 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 ended June 30, 2022 have been reviewed by the Limited review Auditors as required under Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. 3. 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. 4. The Company (DCIL) carried out maintenance dredging with JNPT in the financial year 2019-20. During the year, DCIL executed part of dredging area on its own and some of the areas were dredged by subcontractor named M/s. International Seaport Dredging Pvt Ltd (herein after called as ISDPL). DCIL received payments from JNPT as per the rates mentioned in the agreement. However, DCIL released payments to ISDPL as per the agreement between DCIL Vs. ISDPL. As there is difference in between JNPT rates to DCIL and DCIL rates to ISDPL, JNPT started recovering these amounts from subsequent invoices raised by the Company. As on 30-06-2022 an amount of Rs.34.99 has been recovered by JNPT Company views this amount as a disputed trade receivables, but considered good. 5. Arbitral Award of Rs.64.59Cr issued in favour of M/s.Mercator Lines Limited (MLL) has been challenged by the Company before the High Court of the Delhi and also before the jurisdictional High Court of Justice, Business and property Courts of England and Wales, Commercial Court and the same have been dismissed.MLL filed Execution petition before the High Court of Delhi seeking execution/enforcement of Arbitral Awards.DCI has contested the Award under section 48 of the Arbitration and conciliation Act 1996, while praying for rejecting the execution petition of MLL on the ground that the Award is contrary to the public policy of India and also on the ground that arbitral procedure was not in accordance with the agreement of parties, particularly LMAA Rules.Accordingly,the said Arbitral Award is to the tune of Rs.64.59 Cr has been considered by the Company as Contingent Liability. 6. Pursuant to Regulation 54(2) of Regulations 33 of the SEBI (LODR) Regulations, 2015. It is informed that the company has issued DCI Tax free BONDS 2012-13 for an amount of Rs. 58.87 Cr in the nature of Secured, Redeemable, Non-Convertible debentures (“Bonds”) having tax benefit under section 10(15)(iv)(h) of the Income Tax Act,1961-(ISIN series-INE506A27015) which are listed on BSE. The Bonds are secured by way of first charge on the Back Hoe Dredger DCI BH-1 and as on date hundred percent asset cover is maintained. 7. Disclosure pursuant to Regulation 52(4) of SEBI (LODR):- Particulars DCI Tax free Bonds 2012-13 Remarks a) Credit Rating 1.CARE:BBB+ Negative 2.BWA : AA- Stable - b) Previous interest due date 28/03/2022 Interest paid and bonds are not due for redemption c) Interest paid on 28/03/2022 d) Next Interest due date 28/03/2023 Bonds are due for redemption on 28-03-2023 e) Asset Cover 100% As on 30/06/2022 f) Net Worth Rs.1384.634Cr As on 30/06/2022 8. The details of foreign exchange loss/gain for the period is as under: Rs.in Crores Period Capitalized to cost of Vessels Included in Finance Cost For the quarter ended 30-06-2022 8.27 (Gain) 0.58 (Gain) For the quarter ended 30-06-2021 13.35 (loss) 0.05 (loss) 9. Confirmations/Reconciliation of outstanding balance of trade payables, other payables and advances to suppliers are subject to confirmation/reconciliation and the same is under process. 10. The above financial results were reviewed by the Audit Committee at its meeting held on 08-08-2022 and have taken on record by the Board of Directors at its meeting held on 08-08-2022. 11. Figures of the previous years /quarter have been regrouped / reclassified where ever necessary.

Other Expenses

1693403000