Dolphin Offshore
DOLPHIN NSE
Dolphin Offshore
Oil & GasNSE: DOLPHIN BSE: 522261 Offshore Operations
Key Fundamentals
MicrocapOffshore OperationsOil & GasMarket Cap
₹2,619 Cr
Volatility
Moderate
P/E Ratio
36.06
EBITDA
₹89.80 Cr
Return on Equity
19.39%
Debt to Equity
0.58
Book Value
₹88.35
52W High
₹741.4
52W Low
₹322
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company is expected to give good quarter
Weaknesses
4- Stock is trading at 7.35 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Tax rate seems low
- Company has high debtors of 729 days.
Growth Rate
Revenue Growth
73.54% lower than
3Y
Net Income Growth
47.31% lower than
3Y
Cash Flow Change
333%
ROE
13.66% higher than
3Y
ROCE
19.35%
EBITDA Margin (Avg.)
5.62% lower than
3Y
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1 | 2 | 2 | 2 | 8 | 17 | 28 | 20 | 16 | 25 | 30 | 45 | 43 |
| Expenses | 1 | 1 | 1 | 7 | 2 | 4 | 13 | 9 | 1 | 3 | 8 | 33 | 18 |
| Operating Profit | 0 | 1 | 1 | -5 | 6 | 13 | 16 | 11 | 16 | 22 | 22 | 12 | 25 |
| OPM % | -23% | 42% | 40% | -253% | 74% | 76% | 55% | 55% | 95% | 89% | 75% | 27% | 59% |
| Other Income | 1 | 3 | 0 | 2 | 2 | 0 | 1 | 0 | 0 | 4 | 2 | 12 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 3 | 4 | 5 | 4 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 4 | 5 | 5 | 5 |
| PBT | 0 | 4 | 0 | -4 | 8 | 13 | 16 | 10 | 11 | 19 | 16 | 14 | 16 |
| Tax % | 0% | 0% | 0% | -138% | 5% | -1% | 6% | -2% | -5% | 18% | 17% | -100% | 10% |
| Net Profit | 0 | 4 | 0 | 1 | 8 | 13 | 16 | 10 | 11 | 16 | 13 | 28 | 15 |
| EPS in Rs | 0.04 | 1.12 | 0.11 | 0.36 | 1.89 | 3.23 | 3.89 | 2.61 | 2.83 | 3.9 | 3.32 | 7.08 | 3.7 |
Profit & Loss
| Particulars | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 200 | 416 | 358 | 196 | 158 | 208 | 168 | 0 | 0 | 6 | 74 | 116 | 143 |
| Expenses | 201 | 334 | 230 | 104 | 91 | 163 | 128 | 1 | 1 | 4 | 28 | 44 | 61 |
| Operating Profit | -1 | 82 | 128 | 93 | 67 | 44 | 40 | -1 | -1 | 2 | 46 | 72 | 82 |
| OPM % | -0.3% | 20% | 36% | 47% | 42% | 21% | 24% | — | — | 35% | 62% | 62% | 57% |
| Other Income | 47 | 15 | -24 | -18 | 10 | -3 | 1 | 0 | 45 | 0 | 3 | 17 | 17 |
| Interest | 21 | 23 | 21 | 15 | 12 | 10 | 13 | 0 | 0 | 1 | 1 | 14 | 16 |
| Depreciation | 13 | 19 | 21 | 22 | 21 | 42 | 36 | 14 | 8 | 1 | 0 | 16 | 18 |
| PBT | 12 | 55 | 62 | 38 | 44 | -12 | -8 | -14 | 36 | 0 | 48 | 60 | 66 |
| Tax % | 63% | 14% | 2% | 6% | 8% | -5% | 12% | 0% | 0% | -2042% | 2% | -14% | — |
| Net Profit | 4 | 47 | 61 | 36 | 41 | -11 | -9 | -14 | 36 | 6 | 46 | 69 | 72 |
| EPS in Rs | 0.26 | 2.81 | 3.63 | 2.13 | 2.45 | -0.66 | -0.51 | -0.85 | 11.43 | 1.39 | 11.62 | 17.13 | 18 |
| Div. Payout % | 59% | 5% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 3 | 4 | 4 | 4 |
| Reserves | 224 | 259 | 333 | 374 | 428 | 573 | 566 | 25 | 174 | 217 | 268 | 349 |
| Borrowings | 183 | 166 | 139 | 66 | 61 | 58 | 64 | 131 | 18 | 1 | 165 | 203 |
| Other Liabilities | 67 | 180 | 121 | 97 | 98 | 105 | 146 | 165 | 6 | 5 | 24 | 51 |
| Total Liabilities | 492 | 621 | 609 | 554 | 603 | 753 | 793 | 338 | 201 | 227 | 461 | 608 |
| Fixed Assets | 218 | 207 | 216 | 201 | 189 | 324 | 289 | 66 | 58 | 3 | 1 | 309 |
| CWIP | 2 | 1 | 1 | 13 | 19 | 0 | 0 | 0 | 0 | 47 | 222 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20 | 0 | 15 | 27 | 34 |
| Other Assets | 272 | 412 | 392 | 340 | 395 | 429 | 503 | 253 | 143 | 164 | 211 | 265 |
| Total Assets | 492 | 621 | 609 | 554 | 603 | 753 | 793 | 338 | 201 | 227 | 461 | 608 |
Cash Flow
| Particulars | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 38 | 58 | 62 | 89 | 20 | -8 | 22 | -1 | -4 | 4 | 10 | 45 |
| Investing | -15 | -12 | -10 | -2 | -5 | 22 | -6 | 0 | 0 | -24 | -167 | -75 |
| Financing | -28 | -43 | -51 | -88 | -17 | -13 | -18 | 1 | 5 | 20 | 164 | 31 |
| Net Cash Flow | -4 | 2 | 2 | -1 | -2 | 1 | -2 | 0 | 0 | 0 | 8 | 2 |
| Free Cash Flow | 20 | 51 | 62 | 76 | 14 | -8 | 22 | -1 | -4 | 9 | -160 | -28 |
| CFO/OP | -6,742 | 85 | 54 | 100 | 33 | -16 | 57 | 113 | 680 | 142 | 23 | 62 |
Ratios
| Particulars | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 334 | 191 | 195 | 326 | 553 | 407 | 636 | — | — | 7,972 | 974 | 729 |
| Cash Conversion Cycle | 334 | 191 | 195 | 326 | 553 | 407 | 636 | — | — | 7,972 | 974 | 729 |
| Working Capital Days | 122 | 57 | 113 | 262 | 439 | 379 | 520 | — | — | 8,618 | 857 | 589 |
| ROCE % | 5% | 18% | 26% | 17% | 12% | 4% | 1% | — | -4% | 1% | 15% | 15% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Dolphin Offshore insights
57 extracted metrics + investor summaries across FY09–FY26.
Documents
1
Clarification sought from Dolphin Offshore Enterprises (India) Ltd
18 Aug - Exchange has sought clarification from Dolphin Offshore Enterprises (India) Ltd on August 18, 2026 with reference to significant movement in price, in order to ensure … 18 Aug - Exchange has sought clarification from Dolphin Offshore Enterprises (India) Ltd on August 18, 2026 with reference to significant movement in price, in order to ensure …
3
Compliances-Reg.24(A)-Annual Secretarial Compliance
6 May - Filed Annual Secretarial Compliance Report for FY2026; no non-compliances or SEBI/stock exchange actions reported. 6 May - Filed Annual Secretarial Compliance Report for FY2026; no non-compliances or SEBI/stock exchange actions reported.
4
Board Meeting Outcome for Outcome Of Board Meeting
5 May - Board approved audited Q4/FY26 standalone and consolidated results; reappointed Manubhai & Shah LLP as internal auditor for FY27. 5 May - Board approved audited Q4/FY26 standalone and consolidated results; reappointed Manubhai & Shah LLP as internal auditor for FY27.
5
Results For The Quarter And Year Ended On 31St March, 2026
5 May - Board approved FY26 audited standalone and consolidated results; reappointed Manubhai & Shah LLP as internal auditor. 5 May - Board approved FY26 audited standalone and consolidated results; reappointed Manubhai & Shah LLP as internal auditor.
Frequently Asked Questions about Dolphin Offshore
What does Dolphin Offshore Enterprises (India) Ltd do?
Incorporated in 1979, Dolphin Offshore Enterprises Ltd providing services to the offshore oil and gas industry[1]
Where is Dolphin Offshore Enterprises (India) Ltd (DOLPHIN) listed?
Dolphin Offshore Enterprises (India) Ltd trades as DOLPHIN on the NSE and under code 522261 on the BSE.
Which sector does Dolphin Offshore Enterprises (India) Ltd belong to?
Dolphin Offshore Enterprises (India) Ltd is classified under the Oil & Gas sector, in the Offshore Operations industry.
What is the market capitalisation of Dolphin Offshore Enterprises (India) Ltd?
Dolphin Offshore Enterprises (India) Ltd has a market capitalisation of ₹2,619 Cr, which places it in the Small Cap band.
What is the PE ratio of Dolphin Offshore Enterprises (India) Ltd?
Dolphin Offshore Enterprises (India) Ltd trades at a PE ratio of 36.06, against a book value of ₹88.35 per share.
What is the 52-week high and low of Dolphin Offshore Enterprises (India) Ltd?
Over the last 52 weeks Dolphin Offshore Enterprises (India) Ltd has traded between ₹322 and ₹741.4.
What is the Return on Equity (ROE) of Dolphin Offshore Enterprises (India) Ltd?
Dolphin Offshore Enterprises (India) Ltd reported a return on equity of 19.39%. Its debt-to-equity ratio is 0.58.
Company Information
Incorporated in 1979, Dolphin Offshore Enterprises Ltd providing services to the offshore oil and gas industry[1]
Website dolphinoffshore.com
CEO Mr. Divyesh Umeshkumar Shah
Listed 1994-05-31
Face Value ₹ 1
Issued Size 4,00,04,580
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