The company tied up with major ports for dredging projects and Cochin Shipyard for dredger construction and repair. It also partnered with NMDC Abu Dhabi for a global JV, BEML for indigenous parts, and IHC for modernising dredgers.

An MoU with IIT Chennai's National Technology Centre for Ports, Waterways & Coasts (NTCPWC) will cover bathymetry surveys and training programmes. IOCL will ensure fuel and lubricant supply to Dredging Corporation of India Ltd (DCIL) vessels.

Chairman Dr. M. Angamuthu said the MoUs align with the Maritime Amrit Kaal Vision. The government plans to invest Rs 4,000 crore to build 11 new dredgers and upgrade existing ones.

CEO Capt. S. Divakar said the partnerships will boost efficiency and reinforce DCIL's position as India's top dredging company. DCIL currently handles about 55% of India’s dredging needs.

DCIL operates under a consortium of four major ports — Visakhapatnam, Paradip, Jawaharlal Nehru and Deendayal Port Authorities. As on September 2025, this consortium held 73.47% stake in DCIL.

The company reported standalone net loss of Rs 23.33 crore in Q1 FY26 as against net loss of Rs 31.40 crore in Q1 FY25. Revenue from operations jumped 60.6% year-on-year to Rs 242.24 crore in Q1 FY26.