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Dolphin Offshore Enterprises (India) Limited DOLPHIN NSEINFRA

Energy · Oil & Gas Equipment & Services · India
https://dolphinoffshore.com

Dolphin Offshore Enterprises (India) Limited provides offshore and marine services to the oil and gas industry in India, Thailand, Mexico, Malaysia, Indonesia, Africa, and internationally. The company offers diving and underwater services, including underwater construction services that entail the modification and redevelopment of existing offshore facilities; pre-engineering surveys; diving support for pipe laying and pipeline stabilization; inspection, maintenance, and repair of platforms; installation and replacement of tie-ins, risers, and conductors; underwater ship repair and maintenance; rig support diving services, including UWILD surveys; inspection required for various certifying bodies; platform frames; leg fixing; laying of composite power cables; air, mixed gas, and saturation diving; and installation of hanger and subsea clamps, and seals at bell mouth. It also provides onshore and offshore procurement, fabrication, installation, hookup, and commissioning of plants and equipment; engineering, procurement, and construction of turnkey projects; and design engineering. In addition, the company offers rig and ship repair services, including floating/dry dock and in-situ emergency repairs; underwater cleaning of propellers; hull painting, plating, piping, and structural repairs and replacement; repair and replacement of shale shakers, leg bracings, jacking units, raw water towers, and high pressure piping; repair, overhaul, and replacement of engines; repair of electrical, electronic, and hydraulic systems, as well as air conditioning, refrigeration, decks, and spud can and legs; and repair and refurbishment of accommodation quarters. Further, it provides vessel operations and management, marine logistics, and electrical and instrumentation services, as well as sells spare parts. The company was incorporated in 1979 and is based in Mumbai, India. Dolphin Offshore Enterprises (India) Limited is a subsidiary of Deep Onshore Services Private Limited.

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₹402.20
-8.33% 1Y

Market & Price

Market Cap
₹1,608.98 Cr
Current Price
₹402.20
High / Low (52W)
₹486.35 / ₹332.90
Beta
0.05

Valuation

Stock P/E
23.48
Industry PE
17.61
Forward P/E
-
PEG Ratio
-
Book Value
₹88.33
Price to Book
4.55
P/S
13.82
EV/EBITDA
24.44
Dividend Yield
-

Profitability & Returns

ROCE
13.32%
ROE
21.90%
ROA
6.63%
Profit Margin
58.87%
Op Margin
16.19%
EPS (Latest Qtr)
₹7.08
EPS (TTM)
₹17.13

Balance Sheet & Liquidity

Debt/Equity
0.57
Quick Ratio
5.42
Current Ratio
5.54
Debt
₹203.21 Cr
Total Assets
₹607.69 Cr
Current Assets
₹282.99 Cr
Working Capital
₹231.94 Cr

Ownership

Promoter Holding
90.18%
Chg in Prom Hold
-
FII / Inst Holding
0.00%
Chg in FII Hold
-

Financial Snapshot

Enterprise Value
₹1,768.64 Cr
Total Revenue (TTM)
₹116.42 Cr
EBITDA
₹72.38 Cr
Free Cash Flow
₹-45.27 Cr
Operating Cash Flow
₹45.34 Cr
Shares Outstanding
₹4.00 Cr
Gross Margin
80.27%
Payout Ratio
0.00%

Growth (CAGR)

Revenue 5Y
-
Profit 5Y
23.82%
Revenue (YoY)
121.90%
Earnings (YoY)
171.30%

PROS

  • Strong return on equity of 21.9%.
  • Excellent profit margin of 58.9%.
  • Profit CAGR of 23.8% over 5 years.

CONS

  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Energy).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 DOLPHIN Dolphin Offshore Enterprises (India) Limited NSEINFRA 402.20 23.48 ₹1,608.98 Cr - 13.32% 21.90% - 23.82%
2 RELIANCE Reliance Industries Limited NIFTY50NSEAIINFRA 1,321.20 22.12 ₹17.88 L Cr 0.45% 8.99% 9.14% 6.39% 6.59%
3 ADANIENT Adani Enterprises Limited NIFTY50NSEAIINFRA 2,937.40 39.84 ₹4.03 L Cr 0.04% 10.09% 13.66% -7.61% 55.92%
4 ONGC Oil and Natural Gas Corporation Limited NIFTY50NSEINFRAPSU 265.40 8.06 ₹3.34 L Cr 6.97% 12.95% 12.70% 1.70% 4.11%
5 COALINDIA Coal India Limited NIFTY50NSEINFRAPSU 457.90 9.07 ₹2.82 L Cr 4.80% 19.79% 28.12% 9.74% -0.71%
6 IOC Indian Oil Corporation Limited NSEINFRAPSU 140.24 4.59 ₹1.98 L Cr 7.13% 20.70% 20.97% -1.77% 62.60%
7 HINDPETRO Hindustan Petroleum Corporation Limited NIFTY_MIDNSEINFRA 393.85 4.64 ₹83,804.29 Cr 8.82% 23.54% 30.93% 0.47% 119.51%
8 OIL Oil India Limited NIFTY_MIDNSEINFRAPSU 476.15 11.70 ₹77,450.93 Cr 3.99% 10.13% 12.74% -2.02% -8.81%
9 PETRONET Petronet LNG Limited NIFTY_MIDNSEINFRAPSU 271.05 10.39 ₹40,657.50 Cr 3.69% 21.26% 18.56% -9.63% 5.56%
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Quarterly Results

Figures in INR.

Metric Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue 20.44 Cr16.44 Cr24.62 Cr30.00 Cr45.36 Cr
Cost of Revenue 8.21 Cr2.36 Cr4.64 Cr10.14 Cr21.48 Cr
Gross Profit 12.23 Cr14.09 Cr19.98 Cr19.86 Cr23.87 Cr
Operating Expenses 90.06 L80.94 L1.74 Cr1.99 Cr16.53 Cr
Operating Income 11.33 Cr13.28 Cr18.24 Cr17.87 Cr7.34 Cr
EBITDA 11.14 Cr13.28 Cr22.28 Cr19.58 Cr19.01 Cr
Interest Expense 85.59 L2.47 Cr3.30 Cr3.60 Cr4.87 Cr
Pretax Income 10.29 Cr10.81 Cr18.98 Cr15.97 Cr14.15 Cr
Tax Provision -16.21 L-52.36 L3.37 Cr2.70 Cr-14.18 Cr
Net Income 10.45 Cr11.33 Cr15.61 Cr13.27 Cr28.33 Cr
Diluted EPS 2.612.833.903.327.08

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue -06.47 Cr74.02 Cr116.42 Cr
Cost of Revenue -7.51 Cr2.82 Cr25.87 Cr38.62 Cr
Gross Profit --7.51 Cr3.65 Cr48.15 Cr77.80 Cr
Operating Expenses -65.16 L2.73 Cr2.48 Cr21.07 Cr
Operating Income --8.16 Cr91.62 L45.67 Cr56.73 Cr
EBITDA -44.04 Cr2.57 Cr48.98 Cr89.80 Cr
Interest Expense -42.03 L92.74 L1.21 Cr14.24 Cr
Pretax Income -36.11 Cr26.35 L47.57 Cr59.91 Cr
Tax Provision -0-5.31 Cr1.09 Cr-8.63 Cr
Net Income -36.11 Cr5.57 Cr46.48 Cr68.54 Cr
Diluted EPS -45.731.5911.6217.13

Compounded Sales Growth

5 Years:-
1 Year:121.90%

Compounded Profit Growth

5 Years:23.82%
1 Year:171.30%

Stock Price Performance

1 Year:-8.33%
6 Months:+11.55%
3 Months:-2.58%
1 Month:-2.84%

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets -200.95 Cr227.46 Cr461.19 Cr607.69 Cr
Current Assets -143.23 Cr172.64 Cr234.01 Cr282.99 Cr
Cash & Equivalents -64.48 L16.30 L8.36 Cr9.91 Cr
Inventory -0000
Receivables -142.56 Cr141.31 Cr197.49 Cr232.67 Cr
Total Liabilities -23.62 Cr6.13 Cr188.79 Cr254.26 Cr
Current Liabilities -23.62 Cr4.97 Cr24.04 Cr51.05 Cr
Long Term Debt -00164.75 Cr203.21 Cr
Total Debt -18.03 Cr1.16 Cr164.75 Cr203.21 Cr
Total Equity -177.33 Cr221.33 Cr272.40 Cr353.43 Cr
Shares Outstanding -3.16 Cr4.00 Cr4.00 Cr4.00 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow --4.42 Cr3.53 Cr10.47 Cr45.34 Cr
Investing Cash Flow -7.00 L-23.57 Cr-166.54 Cr-74.91 Cr
Financing Cash Flow -4.80 Cr19.56 Cr164.27 Cr31.11 Cr
Capital Expenditure ----170.47 Cr-73.51 Cr
Free Cash Flow --4.42 Cr3.53 Cr-160.00 Cr-28.17 Cr
Net Change in Cash -44.98 L-48.18 L8.20 Cr1.54 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % --56.4%65.1%66.8%
Operating Margin % --14.2%61.7%48.7%
Net Margin % --86.2%62.8%58.9%
ROE % -20.4%2.5%17.1%19.4%
ROCE % --4.6%0.4%10.4%10.2%

Shareholding Pattern

Insiders
90.18%
Institutions
0.00%
Public Float
0.00%

Analyst View

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