Dolphin Offshore Enterprises (India) Ltd

DOLPHIN

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Market Cap

₹ 1,587 Cr

P/E

29.97

Turned 1 L into 35.38 L in last 3 Years

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Performance

MARKET LEADER

Valuation

OVERVALUED

Growth

STABLE

Profitability

HIGH MARGIN

Technicals

Bullish

Risk

HIGH RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Dolphin Offshore Enterprises (India) Ltd specializes in providing underwater services to the Indian oil and gas industry, including diving, vessel management, and pipeline inspections.

Despite its historical reliability as a contractor, the company recently underwent corporate insolvency proceedings due to payment defaults, signaling significant financial distress.

At its peak, the company expanded operations internationally, offering services in countries such as Vietnam, China, and Malaysia, indicating a previous ambition for global reach.

Recent asset divestments, including the sale of subsidiaries and investments, suggest a strategic shift to streamline operations amid restructuring efforts.

Sector

Oil Drill/Allied

Industry

Oil Exploration / Allied Services

Market Cap

1,587 Cr

Volatility

Low Risk

P/E Ratio

30.0

Industry P/E

8.7

PEG Ratio

0.0

P/B Ratio

5.3

52W High

599.85

52W Low

200.00

Sales CAGR

1044.05%

—

10Y

-7.30%

Profit CAGR

734.47%

—

10Y

—

ROE

TTM

17.52%

13.14%

10.36%

10Y

—

ROCE

TTM

12.80%

10.33%

8.21%

10Y

—

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SEAMECLTD	1021.35	2,605 Cr	29.63	2.42	0.00	8.18	7.96	5.41
PRABHA	188.00	2,574 Cr	—	5.92	0.00	-0.35	-0.36	-0.23
HINDOILEXP	154.20	2,036 Cr	18.64	1.49	0.00	7.99	7.96	6.76
DOLPHIN	398.00	1,587 Cr	29.97	5.25	0.00	17.52	12.80	10.13
ANTELOPUS	427.85	1,508 Cr	26.78	2.57	0.00	9.58	12.81	7.69
ASIANENE	298.85	1,318 Cr	34.89	2.98	0.34	8.53	10.33	4.38
GNRL	89.50	1,144 Cr	745.83	6.31	0.00	0.88	2.85	0.75

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	0.69	2.05	1.78	1.95	8.34	17	29	20	16	25
Expenses	0.85	1.18	1.06	6.88	2.18	4.05	13	9.11	0.83	2.62
Operating Profit	-0.16	0.87	0.72	-4.93	6.16	13	16	11	16	22
OPM %	-23.19	42.44	40.45	-252.82	73.86	75.79	55.12	55.43	94.95	89.36
Other Income	1.02	3.40	0.14	1.52	1.89	0.29	1.12	-0.19	0.00	4.04
Interest	0.39	0.35	0.03	0.15	0.03	0.05	0.27	0.86	2.47	3.30
Depreciation	0.34	0.38	0.38	0.28	0.07	0.07	0.07	0.00	2.34	3.77
Profit Before Tax	0.13	3.53	0.45	-3.85	7.95	13	16	10	11	19
Tax %	0.00	0.00	0.00	137.92	4.91	-0.54	5.64	-1.55	-4.81	17.76
Net Profit	0.13	3.53	0.45	1.46	7.55	13	16	10	11	16
EPS in Rs	0.13	0.88	0.13	0.42	1.89	3.23	3.89	2.61	2.83	3.90

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	358	196	158	208	168	0.00	0.00	6.47	74	82
Expenses	230	104	91	163	128	0.76	0.65	9.98	28	27
Operating Profit	128	93	67	45	40	-0.76	-0.65	-3.51	46	55
OPM %	35.80	47.26	42.42	21.45	23.83	—	—	-54.30	61.99	67.39
Other Income	-24	-18	10	-3.40	0.83	0.00	45	6.08	3.10	NaN
Interest	21	15	12	10	13	0.00	0.42	0.93	1.21	3.65
Depreciation	21	22	21	42	36	14	7.51	1.38	0.21	2.48
Profit Before Tax	62	38	45	-12	-7.71	-14	36	0.26	48	50
Tax %	2.14	6.02	7.50	5.16	-11.93	0.00	0.00	-2,014.91	2.29	0.36
Net Profit	61	36	41	-11	-8.63	-14	36	5.57	46	50
EPS in Rs	15.23	8.92	10.29	3.29	—	—	—	1.57	11.62	13.23
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	17	17	17	17	17	17	17	3.16	4.00	4.00
Reserves	259	333	374	428	573	566	25	174	217	268
Borrowings	122	118	66	61	58	64	131	18	1.16	165
Other Liabilities	223	142	97	98	106	149	166	5.60	4.97	24
Total Liabilities	621	609	554	603	753	795	338	201	227	461
Fixed Assets	207	216	201	189	324	289	66	58	2.62	1.11
CWIP	1.17	0.56	13	19	0.13	0.13	0.00	0.00	47	222
Investments	0.27	0.21	0.02	0.02	0.02	0.02	20	0.00	15	27
Other Assets	413	392	340	395	430	506	253	143	164	211
Total Assets	621	609	554	603	753	795	338	201	227	461

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	58	62	89	20	-7.75	22	-0.86	-4.42	3.53	10
Cash from Investing Activity	-12	-9.75	-1.55	-4.74	22	-6.50	0.00	0.07	-24	-167
Cash from Financing Activity	-43	-51	-88	-17	-13	-18	0.80	4.80	20	164
Net Cash Flow	2.41	1.75	-0.73	-1.69	0.71	-2.29	-0.06	0.45	-0.48	8.20

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Oct 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	94.98%	94.98%	94.98%	74.99%	74.99%	74.99%	74.99%	74.99%	74.99%	74.99%	74.99%	74.99%
FIIs	0.00%	0.00%	0.00%	21.05%	12.82%	12.82%	12.82%	12.82%	12.82%	4.57%	4.57%	4.57%
DIIs	2.00%	2.00%	2.00%	1.58%	1.58%	1.60%	1.60%	1.60%	1.60%	1.47%	0.31%	0.31%
Public	3.01%	3.01%	3.01%	2.38%	10.60%	10.59%	10.59%	10.59%	10.59%	18.97%	20.13%	20.13%
Total Shareholders	12,022	12,022	11,440	11,314	10,972	11,254	13,613	13,016	13,283	13,604	13,526	13,075

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Feb 27, 2025	Aries opportunities fund limited	Bulk	Sell	217.60	10.88 Cr	5,00,000	1.24
Feb 27, 2025	Aries opportunities fund limited	Bulk	Sell	204.00	71.33 Cr	34,96,450	8.74
Feb 27, 2025	Platinum capline llp	Bulk	Buy	217.60	4.96 Cr	2,28,000	0.56
Nov 12, 2023	Elara india opportunities fun...	Bulk	Sell	681.05	5.87 Cr	86,245	0.21
Nov 12, 2023	Pushpa hasmukh gadhecha	Bulk	Buy	681.05	5.98 Cr	87,800	0.21
Nov 12, 2023	Vespera fund limited	Bulk	Sell	681.05	7.30 Cr	1,07,155	0.26
Nov 12, 2023	Gadhecha hasmukh ugarchand huf .	Bulk	Buy	681.05	1.99 Cr	29,200	0.07
Nov 12, 2023	Zaveri rajan bhailalbhai	Bulk	Buy	681.05	2.89 Cr	42,400	0.10
Nov 03, 2023	Vespera fund limited	Bulk	Sell	605.50	8.21 Cr	1,35,558	0.33
Nov 03, 2023	Zaveri raxaben rajan	Bulk	Buy	605.50	2.97 Cr	49,000	0.12

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

Corporate Action

1 day ago

Demise of Independent Director

The company announces the sad demise of Shri Ashokkumar Ratilal Patel, Independent Director, on December 13, 2025.

Documents

Presentations

Concalls

Reports

Presentations

No documents found!

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	0.69	2.05	1.78	1.95	8.34	17	29	20	16	25
Expenses	0.85	1.18	1.06	6.88	2.18	4.05	13	9.11	0.83	2.62
Operating Profit	-0.16	0.87	0.72	-4.93	6.16	13	16	11	16	22
OPM %	-23.19	42.44	40.45	-252.82	73.86	75.79	55.12	55.43	94.95	89.36
Other Income	1.02	3.40	0.14	1.52	1.89	0.29	1.12	-0.19	0.00	4.04
Interest	0.39	0.35	0.03	0.15	0.03	0.05	0.27	0.86	2.47	3.30
Depreciation	0.34	0.38	0.38	0.28	0.07	0.07	0.07	0.00	2.34	3.77
Profit Before Tax	0.13	3.53	0.45	-3.85	7.95	13	16	10	11	19
Tax %	0.00	0.00	0.00	137.92	4.91	-0.54	5.64	-1.55	-4.81	17.76
Net Profit	0.13	3.53	0.45	1.46	7.55	13	16	10	11	16
EPS in Rs	0.13	0.88	0.13	0.42	1.89	3.23	3.89	2.61	2.83	3.90

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	358	196	158	208	168	0.00	0.00	6.47	74	82
Expenses	230	104	91	163	128	0.76	0.65	9.98	28	27
Operating Profit	128	93	67	45	40	-0.76	-0.65	-3.51	46	55
OPM %	35.80	47.26	42.42	21.45	23.83	—	—	-54.30	61.99	67.39
Other Income	-24	-18	10	-3.40	0.83	0.00	45	6.08	3.10	NaN
Interest	21	15	12	10	13	0.00	0.42	0.93	1.21	3.65
Depreciation	21	22	21	42	36	14	7.51	1.38	0.21	2.48
Profit Before Tax	62	38	45	-12	-7.71	-14	36	0.26	48	50
Tax %	2.14	6.02	7.50	5.16	-11.93	0.00	0.00	-2,014.91	2.29	0.36
Net Profit	61	36	41	-11	-8.63	-14	36	5.57	46	50
EPS in Rs	15.23	8.92	10.29	3.29	—	—	—	1.57	11.62	13.23
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	17	17	17	17	17	17	17	3.16	4.00	4.00
Reserves	259	333	374	428	573	566	25	174	217	268
Borrowings	122	118	66	61	58	64	131	18	1.16	165
Other Liabilities	223	142	97	98	106	149	166	5.60	4.97	24
Total Liabilities	621	609	554	603	753	795	338	201	227	461
Fixed Assets	207	216	201	189	324	289	66	58	2.62	1.11
CWIP	1.17	0.56	13	19	0.13	0.13	0.00	0.00	47	222
Investments	0.27	0.21	0.02	0.02	0.02	0.02	20	0.00	15	27
Other Assets	413	392	340	395	430	506	253	143	164	211
Total Assets	621	609	554	603	753	795	338	201	227	461

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	58	62	89	20	-7.75	22	-0.86	-4.42	3.53	10
Cash from Investing Activity	-12	-9.75	-1.55	-4.74	22	-6.50	0.00	0.07	-24	-167
Cash from Financing Activity	-43	-51	-88	-17	-13	-18	0.80	4.80	20	164
Net Cash Flow	2.41	1.75	-0.73	-1.69	0.71	-2.29	-0.06	0.45	-0.48	8.20

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SEAMECLTD	1021.35	2,605 Cr	29.63	2.42	0.00	8.18	7.96	5.41
PRABHA	188.00	2,574 Cr	—	5.92	0.00	-0.35	-0.36	-0.23
HINDOILEXP	154.20	2,036 Cr	18.64	1.49	0.00	7.99	7.96	6.76
DOLPHIN	398.00	1,587 Cr	29.97	5.25	0.00	17.52	12.80	10.13
ANTELOPUS	427.85	1,508 Cr	26.78	2.57	0.00	9.58	12.81	7.69
ASIANENE	298.85	1,318 Cr	34.89	2.98	0.34	8.53	10.33	4.38
GNRL	89.50	1,144 Cr	745.83	6.31	0.00	0.88	2.85	0.75

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overview

Detailed Summary

Dolphin Offshore Enterprises (India) Ltd specializes in providing underwater services to the Indian oil and gas industry, including diving, vessel management, and pipeline inspections.

Despite its historical reliability as a contractor, the company recently underwent corporate insolvency proceedings due to payment defaults, signaling significant financial distress.

At its peak, the company expanded operations internationally, offering services in countries such as Vietnam, China, and Malaysia, indicating a previous ambition for global reach.

Recent asset divestments, including the sale of subsidiaries and investments, suggest a strategic shift to streamline operations amid restructuring efforts.

Sector

Oil Drill/Allied

Industry

Oil Exploration / Allied Services

Market Cap

1,587 Cr

Volatility

Low Risk

P/E Ratio

30.0

Industry P/E

8.7

PEG Ratio

0.0

P/B Ratio

5.3

52W High

599.85

52W Low

200.00

Sales CAGR

1044.05%

—

10Y

-7.30%

Profit CAGR

734.47%

—

10Y

—

ROE

TTM

17.52%

13.14%

10.36%

10Y

—

ROCE

TTM

12.80%

10.33%

8.21%

10Y

—