Posted on February 14, 2017
By Rajesh Tripathi, The Economic Times
In a chat with ET Now, Rajesh Tripathi, CMD, Dredging Corp, talked about company’s performance in the last quarter, its ongoing project and what it expects in the next fiscal.
Your top line declined in this quarter, while your bottom line registered a turnaround. Can you maintain these figures and what is the trajectory you hope to clock in terms of your top line performance?
Dredging is a cyclic sector and sometimes in a year you have to take a call on the reduction in our collections. The maintenance dredging in India has a three years, five years cycle, so major ports invite tenders or give nomination for three to five years and it is taken care by the remaining years. Along with other challenges during this year the same dips have come into picture and that is how our balance sheet was, last quarter was a bad quarter but this quarter has shown a sign of improvement and we are committed to do better ahead.
What’s your guidance for the fourth quarter and the next fiscal?
We have recently bagged one tender in Bangladesh for the next quarter and have signed a five-years contract with the Kolkata Port Trust (KoPT) worth about Rs 220 crore every year. We have already started work at Haldia port. Apart from that, we are also working on two or three river dredging projects — one is Ganga project whereas we expect to bag Farakka-Kahalgaon contract depending on how fast they decide on India Water Innovation Cluster (IWI) project. We are also talking to J&K government for Jhelum or flood management projects, which is likely to start this quarter. Apart from this, we expect to bag one more IWI project. Overseas, we also have certain projects lined up, which may start this quarter.
Source: The Economic Times
