Dolphin Offshore Enterprises (India) Ltd

₹ 516 -3.17%

21 Nov - close price

dolphinoffshore.com BSE: 522261 NSE: DOLPHIN

About

Incorporated in 1979, Dolphin Offshore Enterprises Ltd providing services to the offshore oil and gas industry^[1]

Key Points

Business Overview:^[1]
DOEIL is a part of Deep Industries Ltd. It is a provider of underwater services to the Indian oil and gas industry. It has undertaken turnkey projects involving sub-sea and marine services and as an EPC contractor. Company's services are certified by ISO 9001 and the American Bureau of Shipping. It also works on establishing International Public-Private Sector cooperation for development of underwater technology and environment protection, search and rescue operations and setting up of training facilities. Company is launching its own in house training program for divers and underwater technicians with international certification

Website BSE NSE - BE

Market Cap ₹ 2,066 Cr.
Current Price ₹ 516
High / Low ₹ 949 / 79.8
Stock P/E 836
Book Value ₹ 37.6
Dividend Yield 0.00 %
ROCE 1.61 %
ROE 5.18 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.
Company is almost debt free.

Cons

Stock is trading at 13.8 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
Company has low interest coverage ratio.
Company has high debtors of 6,463 days.
Company's cost of borrowing seems high

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Oil Drill/Allied Industry: Oil Drilling / Allied Services

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2018	Sep 2018	Dec 2018	Mar 2022	Jun 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	21.50	20.29	11.37	0.00	0.00	0.00	0.00	0.69	2.05	1.78	1.95	0.00	0.00
	17.47	14.02	9.55	0.18	0.13	0.53	0.12	0.85	1.19	1.06	6.72	0.37	0.70
Operating Profit	4.03	6.27	1.82	-0.18	-0.13	-0.53	-0.12	-0.16	0.86	0.72	-4.77	-0.37	-0.70
OPM %	18.74%	30.90%	16.01%					-23.19%	41.95%	40.45%	-244.62%
	0.24	0.26	0.25	0.00	0.00	-0.13	44.82	1.02	3.40	0.14	1.52	1.89	0.68
Interest	3.72	4.52	4.21	0.00	0.00	0.00	0.42	0.39	0.35	0.03	0.15	0.03	0.04
Depreciation	0.64	0.64	0.65	0.42	0.00	0.31	0.31	0.34	0.38	0.38	0.28	0.07	0.07
Profit before tax	-0.09	1.37	-2.79	-0.60	-0.13	-0.97	43.97	0.13	3.53	0.45	-3.68	1.42	-0.13
Tax %	-844.44%	-76.64%	-28.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-144.29%	27.46%	-53.85%
	0.68	2.42	-2.00	-0.60	-0.13	-0.97	43.96	0.13	3.53	0.45	1.63	1.02	-0.06
EPS in Rs	0.04	0.14	-0.12	-0.04	-0.01	-0.06	13.91	0.04	1.12	0.11	0.41	0.25	-0.01
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2022	Mar 2023	Mar 2024	TTM
	532.48	276.76	174.98	340.29	233.49	49.84	29.44	62.21	54.81	0.00	0.00	6.47	3.73
	442.16	244.03	161.04	308.94	224.65	63.83	52.41	62.11	58.11	0.76	0.65	4.01	8.85
Operating Profit	90.32	32.73	13.94	31.35	8.84	-13.99	-22.97	0.10	-3.30	-0.76	-0.65	2.46	-5.12
OPM %	16.96%	11.83%	7.97%	9.21%	3.79%	-28.07%	-78.02%	0.16%	-6.02%			38.02%	-137.27%
	-2.61	17.10	28.32	12.00	-21.80	-10.73	14.67	-23.73	0.76	0.00	44.69	0.28	4.23
Interest	11.89	13.01	16.44	17.82	16.90	13.36	11.56	11.05	13.65	0.00	0.42	0.93	0.25
Depreciation	5.18	4.40	4.07	4.38	4.01	5.10	3.98	6.43	3.20	1.68	1.25	1.38	0.80
Profit before tax	70.64	32.42	21.75	21.15	-33.87	-43.18	-23.84	-41.11	-19.39	-2.44	42.37	0.43	-1.94
Tax %	33.98%	30.85%	29.84%	29.83%	0.56%	2.73%	10.28%	-4.79%	-11.40%	0.00%	0.00%	-1,234.88%
	46.64	22.42	15.26	14.83	-34.07	-44.36	-26.29	-39.14	-17.18	-2.44	42.36	5.74	3.04
EPS in Rs	2.96	1.34	0.91	0.88	-2.03	-2.65	-1.57	-2.33	-1.02	-0.15	13.41	1.43	0.76
Dividend Payout %	10.14%	11.22%	16.48%	16.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	-30%
5 Years:	%
3 Years:	%
TTM:	36%

Compounded Profit Growth
10 Years:	20%
5 Years:	%
3 Years:	%
TTM:	163%

Stock Price CAGR
10 Years:	37%
5 Years:	273%
3 Years:	%
1 Year:	560%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	15.76	16.77	16.77	16.77	16.77	16.77	16.77	16.77	16.77	16.77	3.16	4.00	4.00
Reserves	173.97	208.79	221.95	234.26	200.19	155.49	129.20	95.42	78.70	-46.34	101.81	145.28	146.24
	88.61	111.67	109.22	113.19	89.71	66.10	60.54	63.40	92.69	131.46	18.03	1.16	1.06
	126.99	90.62	55.26	167.96	116.56	94.94	90.07	96.19	109.93	164.93	5.58	4.85	4.46
Total Liabilities	405.33	427.85	403.20	532.18	423.23	333.30	296.58	271.78	298.09	266.82	128.58	155.29	155.76
	34.38	31.61	28.69	30.48	26.72	21.10	17.12	29.52	26.31	18.76	13.07	2.61	2.11
CWIP	1.45	1.65	1.16	1.14	0.56	0.56	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	20.20	20.19	20.19	20.19	20.13	19.94	19.94	19.99	20.02	20.07	0.11	14.91	0.23
	349.30	374.40	353.16	480.37	375.82	291.70	259.52	222.27	251.76	227.99	115.40	137.77	153.42
Total Assets	405.33	427.85	403.20	532.18	423.23	333.30	296.58	271.78	298.09	266.82	128.58	155.29	155.76

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2022	Mar 2023	Mar 2024
	55.42	-25.34	21.55	10.27	-23.54	0.87	-3.85	4.19	-11.05	-0.86	-4.43	1.60
	-19.17	-0.95	-4.18	6.04	66.48	35.97	20.96	3.78	-4.99	0.00	0.07	-21.64
	-35.49	23.87	-21.41	-16.37	-42.90	-36.96	-17.12	-8.04	16.19	0.80	4.80	19.56
Net Cash Flow	0.76	-2.42	-4.04	-0.06	0.04	-0.12	-0.02	-0.07	0.15	-0.06	0.44	-0.48

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2023	Mar 2024
Debtor Days	124.34	281.41	379.56	225.90	249.99	951.31	1,409.79	426.78	645.56		6,463.38
Inventory Days											0.00
Days Payable
Cash Conversion Cycle	124.34	281.41	379.56	225.90	249.99	951.31	1,409.79	426.78	645.56		6,463.38
Working Capital Days	146.15	357.35	556.26	294.24	354.87	1,252.89	1,639.15	499.12	612.93		7,175.32
ROCE %	30.75%	14.78%	11.15%	10.89%	5.46%	-0.70%	-5.52%	-2.95%	-3.16%	-1.69%	1.61%

Shareholding Pattern

Numbers in percentages

	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	54.83%	54.83%	54.83%	54.83%	54.83%	94.98%	94.98%	94.98%	74.99%	74.99%	74.99%	74.99%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	12.82%	12.82%	12.82%	12.82%
	0.34%	0.22%	0.62%	1.31%	1.31%	2.00%	2.00%	2.00%	1.58%	1.58%	1.58%	1.60%
	44.84%	44.95%	44.55%	43.86%	43.86%	3.01%	3.01%	3.02%	10.60%	10.62%	10.62%	10.60%
No. of Shareholders	15,219	15,148	15,026	14,814	14,814	12,022	12,022	11,440	10,972	11,254	13,613	13,016

	Mar 2017	Mar 2018	Mar 2019	Jun 2019	Mar 2023	Mar 2024	Sep 2024
	54.83%	54.83%	54.83%	54.83%	94.98%	74.99%	74.99%
	0.15%	0.00%	0.00%	0.00%	0.00%	12.82%	12.82%
	0.21%	0.22%	0.62%	1.31%	2.00%	1.58%	1.60%
	44.81%	44.95%	44.55%	43.86%	3.01%	10.62%	10.60%
No. of Shareholders	13,271	14,697	15,026	14,814	12,022	11,254	13,016

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Dolphin Offshore Enterprises (India) Ltd

Dolphin Offshore Enterprises (India) Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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