5236182022-07-012022-09-305236182022-09-305236182022-03-315236182022-04-012022-09-305236182022-07-012022-09-30in-bse-fin:OtherExpenses1Member5236182022-04-012022-09-30in-bse-fin:OtherExpenses1Memberiso4217:INRxbrli:pureiso4217:INRxbrli:shares523618DREDGECORPNAINE506A01018DREDGING CORPORATION OF INDIA LIMITEDEquity2022-04-012023-03-312022-11-102022-10-26INRLakhsHalf yearlySingle segmentDREDGING2022-11-1012:00:002022-11-1016:30:00trueCash Flow IndirectNot applicable2022-07-012022-09-30UnauditedStandalone23872880008728000239601600000022631000059119000278596000154289300021069180002890980000289098000296100002961000028613700000002861370000286137000002800000001010.2210.220010.2210.22000Notes to Accounts for quarter /Half year ending 30th September, 2022. <BR> <BR> 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. <BR> 2. Un Audited Standalone Cash Flow statement for the Half year ended 30/09/2022: <BR> 3. The details of foreign exchange loss/gain for the period is as under: <BR> Rs.lakhs <BR> Period Capitalized to cost of Vessels Included in Finance Cost <BR> For the quarter ended 30-09-2022 304.77 (gain) 69.97 (gain) <BR> For the quarter ended 30-09-2021 813.27(gain) 2.34 (loss) <BR> For the half year ended 30-09-2022 1131.38(gain) 70.35(gain) <BR> For the half year ended 30-09-2021 521.62 (loss) 3.90 (loss) <BR> <BR> <BR> 4. The financial results for the quarter and Half year ended Sep 30, 2022 have been reviewed by the Auditors as required under Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. <BR> <BR> 5. 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. <BR> <BR> 6. Disclosure pursuant to Regulation 52(4) of SEBI (LODR): <BR> Particulars DCI Tax free Bonds 2012-13 Remarks <BR> a) Credit Rating 1.CARE:BBB+Negative 2.BWA : A+/Negative - <BR> b) Previous interest due date 28/03/2022 Interest paid and bonds are not due for redemption <BR> c) Interest paid on 28/03/2022 <BR> d) Next Interest due date 28/03/2023 Bonds are due for redemption on 28-03-2023 <BR> e) Asset Cover 100% As on 30/09/2022 <BR> f) Net Worth Rs.1413.25Cr As on 30/09/2022 <BR> <BR> <BR> 7. Additional line items (Ratios) disclosure pursuant to Regulation 52 (4) of SEBI (LODR): <BR> <BR> <BR> 8. Arbitral Award of Rs.45.70Cr 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.66.97 Cr (Including Interest) has been considered by the Company as Contingent Liability. This case is posted for hearing on 17/11/2022. <BR> <BR> 9. 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. <BR> <BR> 10. 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 30-09-2022 an amount of Rs.31.39 has been recovered by JNPT Company views this amount as disputed trade receivables, but considered good. <BR> <BR> 11. 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. This case is posted for hearing before NCLT , Delhi on 24/11/2022. <BR> <BR> 12. 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. <BR> <BR> 13. The financial results for the quarter and Half year ended Sep 30, 2022 have been reviewed by the Auditors as required under Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. <BR> <BR> 14. The above financial results were reviewed by the Audit Committee at its meeting held on 10/11/2022 and taken on record by the Board of Directors at its meeting held on 10/11/2022. <BR> 2022-04-012022-09-30UnauditedStandalone45626090001708300045796920000004555970009461200065873100032362960004445236000134456000013445600054330000543300001290230000000129023000012902300000280000000104.614.61004.614.610.00230.01070.09Other Expenses1542893000Other Expenses323629600015532417000121000000051110005111000155376490001685055000019926730004203880005048000011621860003580295000739292000477292000648193400022019583000280000000138525260001413252600014132526000139487000139487000825780001956000004176650000375996400030578440006817808000622426000291580007469392000788705700022019583000The notes to the financial results were provided in the pdf format already filed. 101647000-8771700001135700003506700000000-59556800000658731000010729000000-70350000000000002294240003638800000-54330000-110856000-793800047223100000000000-19815400000000000000000000002242400000-1757300000000000007353220000007176000000-807082000-5105810000-510581000941450000430869000