DICDL paid no dividend again, and its exemption request from the year before is still unanswered
The board recommended no dividend for 2024-25, and the request DICDL sent the state seeking exemption from the dividend rules for 2023-24 was still awaiting a reply when the report was signed on 10 November 2025.
Confirmed by an official document: a government release, a filing, or the company's own published statement.
Gujarat has a finance department resolution of 24 April 2023 governing dividends from state public sector undertakings. DICDL asked the Industries and Mines Department to be excused from it for 2023-24, says a reply is awaited, and says it will send a similar request for 2024-25. It earned Rs 51.53 crore in the year and says it needs to retain the money.
This is a small window into how a public infrastructure company is actually financed. It made a profit and it is arguing that the profit should stay in the project rather than go to the shareholder.
The board recommended no dividend for FY2024-25. Under a Gujarat finance department resolution of 24 April 2023 on dividend distribution by state public sector undertakings, DICDL sent a proposal to the Industries and Mines Department seeking exemption for FY2023-24; the report states a reply is awaited. It says it will send a similar proposal for FY2024-25. The company earned Rs 5,152.72 lakh in the year and says it needs to retain it.
| What | Figure | Unit | As of | Status |
|---|---|---|---|---|
| Dividend FY2024-25 | 0 | INR | 2025-03-31 | CONFIRMED |
| Dividend FY2023-24 | 0 | INR | 2024-03-31 | CONFIRMED |
| State GR reference | FD/OTH/e-file/2023/1504/A-BPE dated 24.04.2023 | reference | 2023-04-24 | CONFIRMED |
| Status of the exemption request | Reply awaited as stated in the FY2024-25 report | 2025-11-10 | CONFIRMED |
Last verified: 11 August 2026. Read the status column this way. CONFIRMED means the named document states the figure. REPORTED means a credible outlet states it and no document confirms it. TARGET means somebody is aiming at it. UNKNOWN means no source we hold gives it, and we would rather leave the row empty than fill it with an estimate.
Committed but unspent capital work at Dholera rose to Rs 341 crore
DICDL spent Rs 44.84 lakh on corporate social responsibility and left Rs 16.50 lakh unspent
Dholera's development company has had three managing directors since 2019 and no independent director
Everything we recorded in November 2025
Several of these documents are large PDFs on government portals that move without notice. Where a document has no stable deep link we cite it by its number and date so it can be found again. See the source register for what each document is and what we took from it.
If one of these links has moved or we have read it wrong, write to [email protected] and we will fix the entry and say so on the corrections page. For how we decide what counts as confirmed, see how we source and correct. For the full dated history of the region, see the Dholera timeline. For any term above you do not recognise, see the glossary.