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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

Credit Rating (CRISIL)
Crisil B/Stable/Crisil A4
Rates the company's debt-servicing ability — not the quality or value of its shares.
Rated: 9 Sept 2025
This rating is over a year old.
View Full ReportValuation
Financials (FY2024)
Source: CRISILInvestment Thesis
Amrut Dredging and Shipping Limited operates in a specialised maritime infrastructure niche with strong secular demand from India's port development initiatives. The company's Gujarat base is strategically advantageous, but its small scale, capital-intensive operations, and unlisted status present significant risks. Investors should seek clarity on current order book and financial health before investing.
Pros
Cons
Business Segments
Dredging & Marine Engineering
Channel deepening, harbor clearing, and land reclamation services for ports and coastal infrastructure.
Marine Construction
Construction of jetties, breakwaters, and related marine infrastructure.
Environmental Dredging
Ecosystem restoration dredging for rivers, lakes, and coastal waterways.
Revenue Model
Amrut Dredging and Shipping Limited earns revenue primarily through project-based contracts for dredging and marine construction awarded by port authorities, government bodies, and private developers. Revenue is lumpy and depends on project awards, completion timelines, and mobilisation of specialised equipment.
Detailed Analysis
Growth Plans
Sagarmala Programme driving port modernisation and new port construction across India's coastline
National Waterways expansion programme requiring dredging of inland waterways
Growing demand for environmental dredging from urban bodies and state pollution control boards
Gujarat's continued maritime infrastructure investment
Industry Tailwinds
Recent Developments
India's major ports handled record cargo volumes in FY2024, with continued government investment in capacity expansion under Sagarmala, driving demand for dredging services.
2024-01Gujarat, home to Kandla, Mundra, and JNPT-proximate ports, continued to see significant maritime infrastructure investment, benefiting regional dredging and marine construction firms.
2023-09Comparable Companies
DREDGECORP · ~3,000 Cr
Frequently Asked Questions
About Amrut Dredging and Shipping
Amrut Dredging and Shipping Limited is a Rajkot, Gujarat-based company incorporated in March 1995, specialising in dredging and shipping operations along India's extensive coastline and waterways. Registered under CIN U67120GJ1995PLC025194, the company operates in India's marine infrastructure and maritime services sector. Dredging involves the excavation and removal of sediment, silt, and debris from water bodies including ports, rivers, estuaries, and coastal areas. It is a critical activity for maintaining navigable port depths, preventing silting of harbour channels, supporting coastal erosion control, and enabling land reclamation projects. India has a 7,516 km coastline with 12 major and over 200 minor ports, creating substantial ongoing demand for maintenance and capital dredging services. Amrut Dredging reported revenues of approximately Rs 20.2 crore in FY2022, with impressive profit growth of 111.58% and EBITDA growth of 17.79% — indicating strong financial momentum. The company has an authorised capital of Rs 20 crore and paid-up capital of Rs 13.72 crore, reflecting significant capitalisation for a mid-sized maritime services company. Gujarat, with its extensive Saurashtra and Kutch coastline and major ports including Kandla (India's largest port by cargo), Mundra, and Pipavav, is India's pre-eminent maritime state. Rajkot provides convenient access to Saurashtra's coastal ports. India's Sagarmala Programme (Rs 6 lakh crore port development plan) and Maritime India Vision 2030 are driving large capital investments in port capacity expansion, requiring significant dredging activity across the country.
Key Milestones
Incorporated March 27, 1995 in Rajkot, Gujarat (CIN: U67120GJ1995PLC025194)
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Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
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Sagarmala Programme driving port modernisation and new port construction across India's coastline
National Waterways expansion programme requiring dredging of inland waterways
Growing demand for environmental dredging from urban bodies and state pollution control boards
Gujarat's continued maritime infrastructure investment
Industry Headwinds
Larger, better-funded dredging companies winning most major contracts
Rising fuel and operational costs for dredging vessels
Environmental clearance delays stalling projects
Small revenue scale of Rs 20.2 Cr limits ability to compete for large government dredging tenders
Source: Company Financial Filings
Dredging revenue is contract-dependent and can be highly lumpy
Source: Company Financial Filings
CRISIL rating of Crisil B/Stable/Crisil A4 — sub-investment grade; indicates elevated credit risk
Source: CRISIL
Dredging requires expensive specialised vessels and equipment; high maintenance costs and capital expenditure can strain finances for smaller operators.
Revenue depends on winning large government or port authority contracts; loss of key contracts can significantly impact revenues.
Faces competition from Dredging Corporation of India (listed), Jan De Nul, Van Oord, and other international dredging firms with larger fleets.
Dredging operations require multiple environmental clearances and are subject to coastal zone regulations (CRZ), which can cause project delays.
As an unlisted company, shares have limited secondary market liquidity, and exit may be difficult at desired valuations.
ADANIPORTS · ~2,50,000 Cr
JKIL · ~5,000 Cr
Built specialist dredging and marine engineering capabilities over 30 years
Revenue grew 22.41% in FY23; profit grew 111.58% — strong recent performance
Authorized capital Rs.20 Cr; paid-up Rs.14.27 Cr