for FY 2024-25

To

The Members,

Your Directors are pleased to present the 49th Annual Report together with the audited financial statements of the Company for the year ended 31st March, 2025.

1. FINANCIAL RESULTS

The Company's financial performance for the year under review along with previous year's figures is given hereunder:

(Rs.in lakhs)

2. ACQUISITION OF NEW DREDGER

As informed in previous year's Board's Reports we are happy to give you update on procurement of 12000 m3 TSHD dredgers by DCI to be constructed at Cochin Shipyard Limited under the Atma Nirbhar Program. The agreement between Dredging Corporation of India and Cochin Shipyard Limited was signed on 17/03/2022 and tripartite agreement between DCI-CSL-IHC was signed on 13/04/2022. The Cost of the dredger is 104.59 million EURO's. The first dredger is targeted for delivery by 2025 with the second in 2028. The third dredger's procurement will depend on the performance of the previous two. The third dredger capacity will be calculated based on a market gap viability analysis in 2030, to meet the dredging requirements at Indian Major Ports as outlined in the Maritime Vision 2030. All the installments/payments due under the said agreement in the financial year 2024-2025 were paid by DCI within time limit. The company has been working on this new market for more than a decade, and this is a significant milestone.

3. CAPACITY UTILIZATION

The capacity utilization in number of days and quantity dredged as against the targets during the year is as under:-

The lower capacity utilization is mainly because of dry-docking and ageing of dredgers.

4. DCI FLEET

The Company has, 10 Trailer Suction Hopper Dredgers (TSHDs), one Cutter Suction Dredger (CSD), one Back Hoe Dredger and one Inland Cutter Suction Dredger apart from other ancillary crafts. Fleet details are as under:

5. DREDGING OPERATIONS

1. Maintenance dredging in the Hooghly Estuary, primarily in the shipping channel leading to the Haldia Dock Complex of Syama Prasad Mookerjee Kolkata (SMPK) for the year 2023-24.

2. Maintenance dredging of approach channel, entrance channel, turning circle, docks and sand trap of Paradip Port Authority (PPA) for the year 2023-24.

3. Capital dredging in the North Dock Complex of Paradip PortAuthority (PPA) for the year 2023-24.

4. Maintenance dredging at New Sand Trap (NST), its approaches and other areas ofVisakhapatnam Port Authority (VPA) for the year 2023-24.

5. Chartering of DR-XV to M/s. J.P. Offshores for dredging operations at DGNP, Visakhapatnam.

6. Chartering of DR-XI to M/s. Aurobindo Realty Infrastructure Pvt. Ltd. for dredging operations at Ramayapatnam for the year 2023-24.

7. Maintenance dredging of channels and basins of Cochin Port Authority (CoPA) for the year 2023-24.

8. Maintenance Dredging of Cochin Shipyard Limited (CSL) for the year 2023-24.

9. Maintenance dredging of New Mangalore Port Authority (NMPA) for the Year 2023-24.

10. Maintenance dredging of Mumbai harbor channel and JN Port channel of Jawaharlal Nehru Port Authority (JNPA) for the year 2023-24.

1. Maintenance dredging in the Hooghly Estuary primarily in the shipping channel leading to Haldia Dock Complex of Syama Prasad Mookerjee Kolkata (SMPK), for a period of five (5) years for the year 2024-25.

2. Maintenance dredging of approach channel, entrance channel, turning circle, docks and sand trap of Paradip Port Authority (PPA) for the year 2024-25.

3. Capital dredging in the North Dock Complex of Paradip Port Authority (PPA) for the year 2024-25.

4. Maintenance dredging at the New Sand Trap (NST) and its approaches and other areas of Visakhapatnam Port Authority (VPA) for the year 2024-25.

5. Chartering of DCI BH-I to M/s. ISDPL for dredging operations at Rambilli.

6. Dredging for maintenance of channels and basins of Cochin Port Authority (CoPA) for the year 2024-25.

7. Maintenance Dredging of Cochin Shipyard Limited (CSL) for the year 2024-25.

8. Maintenance dredging of New Mangalore Port Authority (NMPA) for the Year 2024-25.

9. Maintenance dredging of Mumbai harbor channel and JN Port channel of Jawaharlal Nehru Port Authority (JNPA) for the year 2024-25.

10. Dredging in the Navigational Channel, Kandla Creek and alongside Cargo Berths and Oil Jetties of Deendayal Port Authority (DPA) for the year 2024-25.

11. Development and maintenance of a fairway width of 32m and depth of 2.5/2.0m in Brahmaputra River (NW-2) and in Barak River for a period of three years for the year 2024-25.

6. SAFETY MANAGEMENT SYSTEM (ISM)

(a) DCI DR-XII, DR-XIV, DR-XV, DR-XVI, DR-XVII, DR-XIX, DR-XX, DR-XXI (hold valid Safety Management Certificate (SMC).

(b) DCI Dredge VIII hold valid Indian Coastal Vessel Safety Certificate.

(c) DCI holds a Document of Compliance (DOC) valid till 24.06.2027. The same is being endorsed every year after annual verification audit by DG Shipping.

(a) DCI DR-XII, DR-XIV, DR-XV, DR-XVI, DR-XVII, DR-XIX, DR-XX, DR-XXI hold valid International Ship Security Certificate (ISSC).

(b) DCI Dredge VIII, DCI Dredge XI and DCI Multicat-1 ensure compliance with regard to Ship Security measures as defined in Annex -11 of the Notification for Indian Coastal Vessels.

The QMS (Quality Management System) Renewal Audit was held in March2025 and the audit team recommended for issuance of certificate. A draft ISO 9001:2015 certificate, valid for next 3 years was issued. The original certificate is awaited.

The EMS Renewal Audit was held in March2025 and the audit team recommended for issue of certificate. A draft ISO 14001:2015 certificate, valid for next 3 years was issued. The original certificate is awaited.

All dredgers of DCI, except dumb vessel DCI Dredge XVIII, currently hold valid MLC-2006 certificates.

7. MEMBERS/ INVESTOR SERVICES

The shares of the Company are listed on Bombay Stock Exchange and National Stock Exchange. The shares of the Company have been delisted from the official list of Calcutta Stock exchange with effect from March 29, 2025.The shares of the Company are dematerialized with both the depositories, NSDL and CDSL. M/s. Alankit Assignments Limited, Delhi are the R&T Agents of the Company.

8. CHANGE IN NATURE OF BUSINESS:

The Company has not changed its nature of business during the relevant financial Year 2024-25.

9. HIGHLIGHTS OF PERFORMANCE OF SUBSIDIARIES,ASSOCIATESANDJOINTVENTURE COMPANIES AND THEIR CONTRIBUTION TO THE OVERALL PERFORMANCE OF THE COMPANY DURING THE PERIOD UNDER REPORT

The Company did not have any subsidiary, associate and Joint Venture Company during the FY 2024-2025 and hence, Consolidated Financial Statement for the Financial Year has not been prepared.

A. Any changes in the Capital Structure of the Company during the year including the following: i. CHANGES IN SUBSCRIBED, ISSUED, PAID-UP SHARE G

During the year under review, there is no changes in subscribed, issued, paid-up share capital -.

During the year Financial Year 2024-25, Company I. has not increased Authorized share capital.

There were no reclassifications or subdivision of Authorized share capital during the year under review.

There was no Reduction of share capital during the year under review.

There was no buyback of share capital during the year under review.

There was no restructuring of capital during the year under review.

There were no transfer and transmission of securities during the year under review.

There was no issue of Equity Shares with Differential Rights during the year under review.

There was no issue of Sweat Equity Shares during the year under review.

D. DETAILS OF EMPLOYEE STOCK OPTIONS: There were no shares issued under Employee stock options during the year under review.

There were no shares held in trust for the benefit of employees where the voting rights are not exercised directly by the employees during the year under review.

There was no Issue of debentures, bonds or any non- convertible Securities during the year under review.

There was no Issue of warrants during the year under review.

H. Securities of the Company are not suspended from trading during the year under review.

I. During the year under review, statement of deviation in the use of proceeds from the objects stated in the offer document or explanatory statement to the notice for the general meeting for public issue, rights issue, preferential issue in pursuance to Regulation 32(4) of the SEBI(LODR), 2015 is not applicable on the Company.

11. The Annual Return pursuant to Section 92 (3) of the Companies Act, 2013, read with Section 134(3)(a) and rule 12(1) of the Company (Management & Administration) Rules, 2014 for the Financial Year ended 31st March 2025 is available on the Company's website https://dredge-india.com/files/Mgt7.PDF.

12. Number of meetings of the Board:- During the financial year 2024-25, the company has held Six Board Meetings. Further details are provided in the Corporate Governance Report. The Company has duly constituted Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, Corporate Social Responsibility Committee and Risk Management Committee and the details of the same including their Constitution, Number of meetings etc., are included in the Corporate Governance Report.

13. Directors' Responsibility Statement:- Pursuant to the provisions of Section 134(3)(c) & 134 (5) of the Companies Act, 2013 your Directors state that:

i) in the preparation of the Annual Accounts, the applicable accounting standards had been followed along with a proper explanation relating to material departures;

ii) the Directors had selected such accounting policies, applied them consistently and made judgements and estimates that are reasonable and prudent to present a true and fair view of the state of affairs of the Company at the end of the financial year and its profit or loss for that period;

iii) the Directors had taken proper and sufficient care to maintain adequate accounting records in accordance with the provisions of the Act, ensuring the safeguarding of the Company's assets and for the prevention and detention of fraud and other irregularities;

iv) the Directors had prepared the Annual Accounts on a going concern basis; v) the Directors, had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and operating effectively;

vi) the Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that these systems were adequate and operating effectively.

No fraud was reported by Auditors to the Central Government as per section 143(12) of the Companies Act, 2013.

15. During the year, all the Independent Directors have met the requirements specified under Section 149(6) of the Companies Act, 2013 for holding the position of ‘Independent Director' and necessary declaration from each Independent Director under Section 149 (7) of the Companies Act, 2013 was received.

16. The Independent directors are paid a sitting fee of H 20,000/-(Rupees Twenty Thousand Only) for attending each meeting of the Board or its committees and they do not receive any other remuneration. Non-Independent Directors are not paid any remuneration or sitting fees by the Company. The Company has constituted a Nomination and Remuneration committee as per Section 178, comprising three Independent Directors, which consider different criteria for recommendation of person as directors like qualifications, positive attributes, independence etc of a director. Terms and conditions for appointment of Director is available on website of the company https://www. dredge-india.com/investors/terms-and-conditions-forthe-appointment-of-independent-directors. Remuneration policy is available on website of the company https://www. dredge-india.com/investors/remuneration-policy

17. Explanations or comments by the Board on every qualification, reservation or adverse remark or disclaimer made.

The chartered accountant firm M/s. Grandhy & Co., Chartered Accountants, Hyderabad was appointed by the Comptroller and Auditor General of India as Statutory Auditors for auditing the accounts of the Company and compliance with applicable laws, regulations, and accounting standards for the financial year 2024-25. Pursuant to Section 142 (1) of the Companies Act, 2013 the remuneration of the Auditors has to be approved by the Members at the Annual General Meeting (AGM). In the previous AGM the Board of Directors of the Company was authorized to fix the fees payable to the Statutory Auditors. It was recommended to authorize the Board of Directors of the Company for fixation of remuneration for statutory auditors for 2025-26.

The Statutory Auditors of the Company have given a report on the accounts of the Company for the financial year 2024-25. They have drawn attention under ‘Emphasis of Matter' to the following notes of the Financial Statements:

A. Note No. 1 relating to management's assessment that no impairment of Property, Plant, and Equipment is required as their recoverable value exceeds the carrying amount as at the reporting date.

B. Note No. 29(11) relating to outstanding trade receivables and payables which are subject to confirmation and reconciliation.

C. Note No. 29(12) relating to restatement of comparative figures due to prior period items adjusted in the current year.

The issues have been adequately explained in the respective Notes referred to by the Auditors.

The Management's response on the comments in the Statutory Auditors Report is mentioned below: -

Review and comments of the C&AG on financial statements for the FY 2024-25 form part of the financial Statements of the Company. The Management's comments on same are being placed with the report of Statutory Auditors of your Company elsewhere in this Annual Report.

The "Secretarial Audit Report" from the secretarial auditor in Form MR-3 as required under Section 204 of the Companies Act, 2013 read with rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 forms part of this report. The Management's Response on the qualification in the Secretarial Auditor Report is mentioned below:

Pursuant to provisions of Section 186 of the Companies Act, 2013 and the Companies (Accounts) Rules, 2014, the Company has not made any Investment, given guarantee and securities during the year under review.

The Particulars as described under Section 134(3) (m) of the Companies Act 2013 read with Companies (Accounts) Rules 2014 are given in Annexure to this report.

The particulars of contracts or arrangements with related parties referred to in sub-section (1) of section 188 are given in form AOC-2 forming part of Board's Report.

The details of amount transferred to reserves are given in note no. 13 of the Notes forming part of the financial statements.

Your Directors did not recommend any dividend for the financial year 2024-25.

There have been no material changes and commitments, which affect the financial position of the company which have occurred between the end of the financial year to which the financial statements relate and the date of this Report. However, following are the capital commitments as on 31st March 2025.

Risk Management is the process of identification, assessment and prioritization of risks followed by coordinated efforts to minimize, monitor and mitigate/ control the probability and/or impact of unfortunate events or to maximize the realization of opportunities. The Company has laid down a comprehensive Risk Assessment and Minimization Procedure which is reviewed from time to time. These procedures are reviewed to ensure that executive management controls risk through means of a properly defined framework. The major risks have been identified by the Company and its mitigation process/measures have been formulated in the areas such as business, project execution, event, financial, human, environment and statutory compliance.

The Company firmly believes that the commitment towards playing a defining role in the development of its stakeholders extends to uplifting lives of the weaker segments of the society living in and around its areas of operation. The principles of Corporate Social Responsibility (CSR) are deeply imbibed in your Company's corporate culture. The provisions of section 135 towards the Corporate Social Responsibility are applicable on the Company.

In pursuant to the provisions of Section 135 and Schedule VII of the Companies Act, 2013, the Board of Directors of the Company had duly constituted the Corporate Social Responsibility (CSR) Committee.

The details of the members of the CSR Committee and the details of the meeting of CSR Committee along with their attendance held during the year are given in annexure to Board Report.

Mr. Arun Kumar Gupta has been appointed the Chairman of the Corporate Social Responsibility Committee.

The Company has a duly approved Corporate Social Responsibility Policy. A brief outline of the Company's

CSR policy and a reference to the web - link to the CSR policy in pursuance to section 134(3)(o) is as follows:

The Corporate Social Responsibility Committee has been entrusted with the responsibility of recommending to the Board the activities/projects/programs to be undertaken by the Company as per its Corporate Social Responsibility Policy. The terms of reference of the CSR Committee include the matters specified in Section 135 of the Act. Weblink of the CSR Policy is https:// www.dredge-india.com/left-related-links/corporate-social-responsiblities

Further, pursuant to Rule 8(1) of the Companies (CSR Policy) Rules, 2014, an annexure containing the details on CSR is enclosed with Board Report

The Board implemented a formal procedure to assess its performance, along with its Committees and Individual Directors, including the Chairman. This evaluation involved a structured process covering various aspects of the Board's functioning, such as composition, Committee effectiveness, experience, competencies, fulfilment of specific duties and obligations, contribution to meetings, and overall governance issues. After the Independent Directors' meeting, the Board convened its meeting to discuss the performance of the Board, its Committees, and Individual Directors.

The evaluation of Independent Directors was conducted by the entire Board, excluding the Independent Director under evaluation.

During the Financial Year 2024-2025, no independent directors were appointed.

During the Financial Year 2024-2025, the Company did not have any subsidiaries, joint ventures or associate companies. Hence statement containing salient features of the financial statement of Subsidiaries/associates companies/joint venture are not provided in AOC -1.

The Company does not have any deposits which are in compliance with the requirements of or are covered under Chapter V of the Act.

The Company does not have any deposits which are not in compliance with the requirements of Chapter V of the Act.

There was no significant and material order passed by the regulators / court / tribunal during the financial year against the company which impacts the going concern status and company's operations in future.

The Company has in place adequate internal financial controls with reference to financial statements. During the year, such controls were tested and no reportable material weakness in the design or operation was observed.

Pursuant to Section 148 of the Companies Act, 2013 read with The Companies (Cost Records and Audit) Amendment Rules, 2014, appointment of cost auditor and maintenance of cost audit records is not applicable on the company for this year.

The Company has in place a robust vigil mechanism for reporting genuine concerns through the Company's Whistle-Blower Policy. All cases reported as part of whistleblower mechanism are taken to their logical conclusion within a reasonable timeframe. The Whistle-Blower Policy is available on the Company's website at https://www.dredge-india.com/

No application has been made under the Insolvency and Bankruptcy Code by your Company. Hence, the requirement to disclose the details of the application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 during the year along with their status as at the end of the financial year is not applicable.

During the year under review, there has been no one-time settlement of loans taken from bank and financial institutions.

The Company has taken appropriate insurance for its assets.

There are no significant and material orders passed by the Regulators, Courts or Tribunals which would impact the going concern status and the Company's future operations.

Pursuant to provisions of Section 197 of the Companies Act, 2013, read with the Rule 5 of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the names and other particulars of employees along with the ratio of remuneration of each Director to the median employee's remuneration and such other details forms part of Directors' Report and is Annexed to this Report.

This is a continuous process and DCI procures stores and services on a regular basis from suppliers spread all over the world. DCI is updating the supplier-base continually. DCI has adopted e-procurement and GeM process, as per Govt. of India guidelines, where emphasis was given to facilitate and enable the vendors by way of training support and hand holding support to participate in the e-procurement processes of the Company. Tenders are published in DCI official website Central Public Procurement Portal and GeM portal for wider publicity so that MSMEs can participate. In view that out of the total annual procurement, a major portion is fuel, lubes and OEM spares which cannot be procured from MSME Vendors and further that since most of dredgers of DCI have been built at Netherlands and therefore most of the spare need to be imported from OEMs abroad, the Company has represented for relaxation for implementation of the Public Procurement Policy mandatory provision of 20% procurement from MSMEs. However, DCIL incorporate the clause in tenders as public procurement policy and following the same.

DCI Dredge Aquarius was fitted with an indigenously developed Programmable Logic Controller (PLC) in place of existing PLC system which was imported and giving frequent problems because of non-availability of spare parts/ services of the Original Equipment Manufacturer abroad. The newly installed PLC has been found to be cost effective and working satisfactorily.

Pursuant to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI (LODR) Regulations, 2015) Management Discussion and Analysis Report, Corporate Governance Report, Secretarial Audit Report, and Certificate from the Company Secretary in practice regarding compliance of conditions of Corporate

Governance, Certificate of Non-Disqualification of Directors, Compliance Certificate under Regulation 17(8) of SEBI (LODR) Regulations, 2015 are attached, forming part of this Report.

The total number of employees (both Shore and Floating) in the Company, as on March 31, 2025 was as under:

The industrial relations in the Companycontinued to be cordial throughout the year under report.

The manpower position with regard to various reserved categories is as indicated hereunder:

The Companycontinued its efforts to fulfill its obligation in providing employment opportunities to SC/ST candidates, in accordance with the Government Policy. The overall representation of SC/STs in the Company (both Shore and Floating Establishments, but excluding MPWs) as on March 31, 2025.

The representation of ex-servicemen (shore-based employees) in Group C' and D' categories in the Company was Nil in both categories, against the Government-prescribed percentage of 14.5% and 24.5%, respectively.

The number of Physically Challenged employees in the Companyas on 31st March , 2025 is 02 (Two). The group-wise breakup A, B, C, D Categories in Shore Establishment, is as furnished hereunder :

Basing on the Supreme Court's judgment and keeping in view the Government instructions on sexual harassment of women at work places, a Complaints Committee/ Internal Committee headed by a woman officer was constituted to inquire into the complaints of sexual harassment at work places. A complaints register is also being maintained. Training/workshop is also being conducted for the employees for the purpose. The Company has in place a robust Policy on Prevention, Prohibition and Redressal of Sexual Harassment of Women at Workplace in line with the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013. The weblink of the policy is - https://www.dredge-india.com/investors/prevention-of-sexual-harassment-posh-policy

DCI is a Life Member of the Forum for Women in Public Sector and one woman representative from DCI has been nominated to the above forum. Apart from the Trade Unions, the problems, if any relating particularly to women employees are looked into as and when the same are brought to the notice of the Management.

The company has complied with provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of woman at workplace (Prevention, Prohibition and Redressal) Act, 2013.

The Complaints Committee/Internal Committee have following members which are nominated by the employer, namely:

Disclosures in relation to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 with respect to FY 2024-25 is as under:

47 EXISTING BENEFITS AND WELFARE MEASURES FOR THE WOMEN EMPLOYEES: a) The women employees of the Company, with less than two surviving children are entitled for 26 weeks of Maternity Leave.

b) Special casual leave not exceeding 14 working days is sanctioned to regular women employees of the Companyto undergo non-puerperal sterilisation.

c) One day special casual leave is allowed to the regular women employees of the Company who had ICUD insertions.

d) As per the Apex Court judgement and basing on the Government instructions, a Complaints Committee headed by a Woman Officer was constituted to inquire into the complaints of Sexual Harassment at work places. A Complaints Register is also being maintained.

e) Apart from the Trade Unions, the problems, if any, relating particularly to women employees are looked into as and when the same are brought to the notice of the Management.

f) A Recreation Room has been provided exclusively for the women employees in the Company.

g) Working uniforms are provided to Group ‘D' employees, as per the scales prescribed in the Rules.

h) Maternity Benefit Act 1961 is implemented in the Company.

Paternity leave of 15 days is allowed to a regular male employee having less than two children, during confinement of his wife, as per Leave Rules of the Company.

A. SHORE ESTABLISHMENT: i) Pay revision of Executive Employees is implemented w.e.f. 01.01.2017.

ii) The wage revision of Non-Executive employees in the Shore Establishment is implemented w.e.f. 01.01.2017.

B. FLOATING ESTABLISHMENT : i) New Wage Agreements in respect of Officers is due w.e.f. 01.01.2024.

ii) New Wage Agreements in respect of Floating Petty Officers is due w.e.f. 01.01.2024.

iii) New Wage Agreements in respect of Floating crew is due w.e.f. 01.01.2024.

The Company continued various welfare schemes viz., Family Pension Scheme, Gratuity Scheme, Personal Accident Insurance Coverage, Group Savings Linked Insurance Scheme, Contributory Provident Fund, Maternity Leave, Paternity Leave, Payment of ex-gratia to legal heirs/ members of the family of deceased employees, Canteen for project employees, Medical Attendance, Merit Scholarships for the children of SC/ST employees, Pension Scheme and DCI, Retired Employees Medical Trust/ Scheme, family carriage facility for fleet personnel etc. Other welfare measures such as Special Casual Leave for maternity/ paternity are also extended to the employees.

The Company is making sincere and concerted efforts for the overall development of Human Resources. During the year 2024-25, 164 Executives and 64 Non-Executives were imparted with various training Programs.

As per the Directives of the Government of India, your company implemented the Right to Information Act, 2005 w.e.f. 12.10.2005. All necessary infrastructural arrangements have been made, including the appointment of Public Information Officers, Asst. Public Information Officers and Appellate Authority. Additionally, procedures have been established for the submission of periodic reports on the Act's implementation progress. A register is being maintained for monitoring the requests from public seeking information and the replies by the concerned are also being coordinated. Required periodical reports on the implementation of RTI/ Status of RTI replies are being furnished to the CIC from time to time.

A Public Grievance Cell has been functioning in the Company since 1988 to look into the Grievances/ Complaints received from the Public. The Company Secretary is the officer in charge for Public Grievances. As per the Ministry's guidelines, a status report is being submitted for the information to the Board of Directors at the Board meetings and a quarterly status report is forwarded to the Ministry. In line with the Ministry's direction, a Public Grievance Redressal and Monitoring System (PGRAMS) software was installed in the Computer Network in the Company, which works in a collaborative ‘hand-shake' mode between the Ministry and the Company.

The Company continued various welfare schemes viz., Family Pension Scheme, Gratuity Scheme, Personal Accident Insurance Coverage, Group Savings Linked Insurance Scheme, Contributory Provident Fund, Maternity Leave, Paternity Leave, Payment of ex-gratia to legal heirs/members of the family of deceased employees, Canteen for project employees, Medical Attendance, , Merit Scholarships for the children of SC/ST employees, Pension Scheme and DCI, Retired Employees Medical Trust/Scheme, family carriage facility for fleet personnel etc. Other welfare measures such as Special Casual Leave for maternity/ paternity are extended to the employees.

Vigilance Department is playing a proactive role for continuous simplification and improvements in systems and procedures and facilitating faster and effective decision making in transparent manner.

The Vigilance Awareness Week 2024 was observed at the Corporate Headquarters and at various Regional / Project Offices of Dredging Corporation of India Ltd. from 28th October 2024 to 03rd November 2024, under the auspices of Central Vigilance Commission (CVC) to spread awareness against corruption. CVC's theme for the year 2024 was "Culture of Integrity for Nation's Prosperity" with emphasis on spreading awareness in fight against corruption to all sections of Society. In line with the letter and spirit of the theme and guidelines of CVC, several activities were organized covering a wide spectrum of society, with the aim of spreading awareness and sensitizing the public about ways and means to fight corrupt practices.

During the VAW-2024, outreach activities were conducted at schools and colleges like essay writing, elocution and painting etc. We could achieve this with the help of support of the print media and social media, which gave wide publicity to our activities.

2) Preventive Vigilance

As a measure of preventive vigilance, 8 Periodic, 9 Surprise and 4 CTE type inspections have been taken up during the year. The lapses/ irregularities noticed in this regard have been communicated for taking remedial/ corrective actions.

3) Systemic Improvements undertaken:

During the year, various Systemic improvement measures were suggested by the Vigilance Department for implementation.

i) Technical superintendent shall comply with Standard Operating Procedure (SOP) for Dry-dock repair of Dredgers.

ii) Material department to prepare SOP for handling re-export, re-import of spares for reconditioning purpose.

iii) To the extent possible indigenise the ship spares to avoid more dependence on OEMs and to reduce the cost.

iv) The estimate for the tender to be worked out in a realistic and objective manner on the basis of prevailing market rates, last purchase price, economic indices for the raw material/labour, other input costs, IEEMA formula wherever applicable and assessment based on intrinsic value etc.

v) Proper evaluation of tender by TC members - where there is a difference in tax component quoted by the various bidders, TC members should evaluate basic cost of the items i.e., excluding taxes to arrive at reasonableness of the price quoted by the parties.

4) Training Programs conducted:

As a part of Vigilance Awareness Week campaign, multiple training programs were conducted to the employees on following thematic areas.

a) Ethics and Governance b) Conduct Rules c) Procurement d) Systems and Procedures of the Organization

There about 80 employees have attended online / offline including Projects during training program on GeM Portal (Procurement).

About 40 employees have attended Training programs on "Ethics and Governance; Conduct rules; Procurement; Systems and procedures of the Organization".

Automation of invoice (E invoice and e way bill)

Development of project wise Profit and loss report

Balance sheet

Corporate profit and loss

Budget implementation

1. Cyber security enhanced through the installation of a new Firewall featuring the latest advanced security features, operating in a high availability active / passive mode.

2. Vessel connectivity improved by installing an Omnidirectional antenna and Sim- based router, improving the speed and availability of internet for accessing ERP from vessel.

3. Hypack PC upgraded with higher configuration to support remote access from the Head Office of the vessel's Hypack system.

4. New Hardware Procured for implementation of PMS in the vessel for Users access of PMS Software.

5. New Online Shore recruitment portal revamped and successfully launched.

The Business Responsibility Report for the year ended 31st March, 2025 as required under the SEBI regulations is annexed to the Directors Report.

As per the approval of the Board, the Company has applied for Voluntary Delisting of Shares from Calcutta Stock Exchange in June, 2020. In response to the exchange's request, clarifications were provided and the delisting certificate was received from the Exchange on 29th March, 2025.

The changes in composition of the Board during the Financial Year 2024-2025 is given in detail in Corporate Governance Report. The Directors recommend for approval of the Members the appointments/reappointment of the Directors as proposed in the Notice to the AGM.

Your directors state that proper systems have been devised to ensure compliance with the applicable laws. Pursuant to the provisions of Section 118 of the Act, during FY 2024-25, the Company has generally adhered with the applicable provisions of the Secretarial Standards (SS-1 and SS-2) relating to ‘Meetings of the Board of Directors' and ‘General Meetings' issued by the ICSI and approved by the Central Government under Section 118 (10) of the Act.

The Directors thank Hon'ble Minister of State of Ministry of Ports, Shipping and Waterways, its Officers and staff for the valuable help, assistance and guidance rendered from time to time. The Directors thank all other Ministries for the help and co-operation extended by them. The Board is grateful to the Comptroller & Auditor General of India, the Member, Audit Board and the Statutory Auditors for their co-operation. The Board also thanks the Bankers of the Company for their valuable services. The Board expresses its gratitude to the valued customers for their continued patronage. The Directors place on record their appreciation of the services rendered by all the employees of the Company.