Dolphin Offshore Enterprises (India) Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: March 3, 2026, 2:08 pm

Market Cap	1,582 Cr.
Current Price	396
Intrinsic Value	₹613.72
High / Low	506/245
Stock P/E	31.2
Book Value	75.5
Dividend Yield	0.00 %
ROCE	14.7 %
ROE	18.7 %
Face Value	1.00
PEG Ratio	0.44

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Dolphin Offshore Enterprises (India) Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Dolphin Offshore Enterprises (India) Ltd	1,582 Cr.	396	506/245	31.2	75.5	0.00 %	14.7 %	18.7 %	1.00
Jindal Drilling & Industries Ltd	1,736 Cr.	599	982/440	8.96	511	0.17 %	13.8 %	11.1 %	5.00
Gujarat Natural Resources Ltd	1,253 Cr.	97.6	114/19.3	173	14.1	0.00 %	0.56 %	2.87 %	10.0
Hindustan Oil Exploration Company Ltd	2,017 Cr.	152	199/129	27.2	103	0.00 %	12.3 %	11.8 %	10.0
Deep Energy Resources Ltd	999 Cr.	312	/	694	121	0.00 %	0.39 %	0.35 %	10.0
Industry Average	34,127.00 Cr	418.44		97.04	600.59	0.99%	10.56%	9.87%	6.85

All Competitor Stocks of Dolphin Offshore Enterprises (India) Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	0	0	1	2	2	2	8	17	28	20	16	25	30
Expenses	1	0	1	1	1	7	2	4	13	9	1	3	8
Operating Profit	-1	-0	-0	1	1	-5	6	13	16	11	16	22	22
OPM %			-23%	42%	40%	-253%	74%	76%	55%	55%	95%	89%	75%
Other Income	-0	45	1	3	0	2	2	0	1	-0	0	4	2
Interest	0	0	0	0	0	0	0	0	0	1	2	3	4
Depreciation	2	2	0	0	0	0	0	0	0	0	2	4	5
Profit before tax	-3	42	0	4	0	-4	8	13	16	10	11	19	16
Tax %	0%	0%	0%	0%	0%	-138%	5%	-1%	6%	-2%	-5%	18%	17%
Net Profit	-3	42	0	4	0	1	8	13	16	10	11	16	13
EPS in Rs	-0.16	13.40	0.04	1.12	0.11	0.36	1.89	3.23	3.89	2.61	2.83	3.90	3.32

Last Updated: February 2, 2026, 6:16 am

Below is a detailed analysis of the quarterly data for Dolphin Offshore Enterprises (India) Ltd based on the most recent figures (Dec 2025) and their trends compared to the previous period:

For Sales, as of Dec 2025, the value is 30.00 Cr.. The value appears strong and on an upward trend. It has increased from 25.00 Cr. (Sep 2025) to 30.00 Cr., marking an increase of 5.00 Cr..
For Expenses, as of Dec 2025, the value is 8.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 3.00 Cr. (Sep 2025) to 8.00 Cr., marking an increase of 5.00 Cr..
For Operating Profit, as of Dec 2025, the value is 22.00 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2025) which recorded 22.00 Cr..
For OPM %, as of Dec 2025, the value is 75.00%. The value appears to be declining and may need further review. It has decreased from 89.00% (Sep 2025) to 75.00%, marking a decrease of 14.00%.
For Other Income, as of Dec 2025, the value is 2.00 Cr.. The value appears to be declining and may need further review. It has decreased from 4.00 Cr. (Sep 2025) to 2.00 Cr., marking a decrease of 2.00 Cr..
For Interest, as of Dec 2025, the value is 4.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 3.00 Cr. (Sep 2025) to 4.00 Cr., marking an increase of 1.00 Cr..
For Depreciation, as of Dec 2025, the value is 5.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 4.00 Cr. (Sep 2025) to 5.00 Cr., marking an increase of 1.00 Cr..
For Profit before tax, as of Dec 2025, the value is 16.00 Cr.. The value appears to be declining and may need further review. It has decreased from 19.00 Cr. (Sep 2025) to 16.00 Cr., marking a decrease of 3.00 Cr..
For Tax %, as of Dec 2025, the value is 17.00%. The value appears to be improving (decreasing) as expected. It has decreased from 18.00% (Sep 2025) to 17.00%, marking a decrease of 1.00%.
For Net Profit, as of Dec 2025, the value is 13.00 Cr.. The value appears to be declining and may need further review. It has decreased from 16.00 Cr. (Sep 2025) to 13.00 Cr., marking a decrease of 3.00 Cr..
For EPS in Rs, as of Dec 2025, the value is 3.32. The value appears to be declining and may need further review. It has decreased from 3.90 (Sep 2025) to 3.32, marking a decrease of 0.58.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 4:00 am

Metric	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	304	200	416	358	196	158	208	168	0	0	6	74	92
Expenses	271	201	334	230	104	91	163	128	1	1	4	28	20
Operating Profit	34	-1	82	128	93	67	44	40	-1	-1	2	46	71
OPM %	11%	-0%	20%	36%	47%	42%	21%	24%			35%	62%	78%
Other Income	22	47	15	-24	-18	10	-3	1	0	45	0	3	6
Interest	18	21	23	21	15	12	10	13	0	0	1	1	10
Depreciation	10	13	19	21	22	21	42	36	14	8	1	0	11
Profit before tax	27	12	55	62	38	44	-12	-8	-14	36	0	48	56
Tax %	41%	63%	14%	2%	6%	8%	-5%	12%	0%	0%	-2,042%	2%
Net Profit	16	4	47	61	36	41	-11	-9	-14	36	6	46	51
EPS in Rs	0.96	0.26	2.81	3.63	2.13	2.45	-0.66	-0.51	-0.85	11.43	1.39	11.62	12.66
Dividend Payout %	16%	59%	5%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2011-2012	2012-2013	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-75.00%	1075.00%	29.79%	-40.98%	13.89%	-126.83%	18.18%	357.14%	-83.33%	666.67%
Change in YoY Net Profit Growth (%)	0.00%	1150.00%	-1045.21%	-70.77%	54.87%	-140.72%	145.01%	338.96%	-440.48%	750.00%

Dolphin Offshore Enterprises (India) Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2011-2012 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	-9%
5 Years:	%
3 Years:	%
TTM:	482%

Compounded Profit Growth
10 Years:	-3%
5 Years:	%
3 Years:	74%
TTM:	305%

Stock Price CAGR
10 Years:	46%
5 Years:	%
3 Years:	%
1 Year:	-34%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	8%
Last Year:	19%

Last Updated: September 5, 2025, 3:16 pm

Balance Sheet

Last Updated: December 4, 2025, 2:46 am

Month	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	17	17	17	17	17	17	17	17	17	3	4	4	4
Reserves	227	224	259	333	374	428	573	566	25	174	217	268	298
Borrowings	186	183	166	139	66	61	58	64	131	18	1	165	194
Other Liabilities	97	67	180	121	97	98	105	146	165	6	5	24	27
Total Liabilities	527	492	621	609	554	603	753	793	338	201	227	461	523
Fixed Assets	113	218	207	216	201	189	324	289	66	58	3	1	286
CWIP	101	2	1	1	13	19	0	0	0	0	47	222	0
Investments	0	0	0	0	0	0	0	0	20	0	15	27	32
Other Assets	312	272	412	392	340	395	429	503	253	143	164	211	205
Total Assets	527	492	621	609	554	603	753	793	338	201	227	461	523

Below is a detailed analysis of the balance sheet data for Dolphin Offshore Enterprises (India) Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:

For Equity Capital, as of Sep 2025, the value is 4.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 4.00 Cr..
For Reserves, as of Sep 2025, the value is 298.00 Cr.. The value appears strong and on an upward trend. It has increased from 268.00 Cr. (Mar 2025) to 298.00 Cr., marking an increase of 30.00 Cr..
For Borrowings, as of Sep 2025, the value is 194.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 165.00 Cr. (Mar 2025) to 194.00 Cr., marking an increase of 29.00 Cr..
For Other Liabilities, as of Sep 2025, the value is 27.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 24.00 Cr. (Mar 2025) to 27.00 Cr., marking an increase of 3.00 Cr..
For Total Liabilities, as of Sep 2025, the value is 523.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 461.00 Cr. (Mar 2025) to 523.00 Cr., marking an increase of 62.00 Cr..
For Fixed Assets, as of Sep 2025, the value is 286.00 Cr.. The value appears strong and on an upward trend. It has increased from 1.00 Cr. (Mar 2025) to 286.00 Cr., marking an increase of 285.00 Cr..
For CWIP, as of Sep 2025, the value is 0.00 Cr.. The value appears to be declining and may need further review. It has decreased from 222.00 Cr. (Mar 2025) to 0.00 Cr., marking a decrease of 222.00 Cr..
For Investments, as of Sep 2025, the value is 32.00 Cr.. The value appears strong and on an upward trend. It has increased from 27.00 Cr. (Mar 2025) to 32.00 Cr., marking an increase of 5.00 Cr..
For Other Assets, as of Sep 2025, the value is 205.00 Cr.. The value appears to be declining and may need further review. It has decreased from 211.00 Cr. (Mar 2025) to 205.00 Cr., marking a decrease of 6.00 Cr..
For Total Assets, as of Sep 2025, the value is 523.00 Cr.. The value appears strong and on an upward trend. It has increased from 461.00 Cr. (Mar 2025) to 523.00 Cr., marking an increase of 62.00 Cr..

Notably, the Reserves (298.00 Cr.) exceed the Borrowings (194.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	-13	38	58	62	89	20	-8	22	-1	-4	4	10
Cash from Investing Activity +	-7	-15	-12	-10	-2	-5	22	-6	0	0	-24	-167
Cash from Financing Activity +	10	-28	-43	-51	-88	-17	-13	-18	1	5	20	164
Net Cash Flow	-9	-4	2	2	-1	-2	1	-2	-0	0	-0	8

Free Cash Flow

Month	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	-152.00	-184.00	-84.00	-11.00	27.00	6.00	-14.00	-24.00	-132.00	-19.00	1.00	-119.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2023	Mar 2024	Mar 2025
Debtor Days	266	334	191	195	326	553	407	636		7,972	974
Inventory Days
Days Payable
Cash Conversion Cycle	266	334	191	195	326	553	407	636		7,972	974
Working Capital Days	72	122	57	113	262	439	379	520		8,618	857
ROCE %	9%	5%	18%	26%	17%	12%	4%	1%	-4%	1%	15%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 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%	12.82%	12.82%	12.82%	12.82%	12.82%	4.57%	4.57%	4.57%	4.57%
DIIs	2.00%	2.00%	2.00%	1.58%	1.58%	1.58%	1.60%	1.60%	1.47%	0.31%	0.31%	0.31%
Public	3.01%	3.01%	3.02%	10.60%	10.62%	10.62%	10.60%	10.59%	18.96%	20.13%	20.12%	20.13%
No. of Shareholders	12,022	12,022	11,440	10,972	11,254	13,613	13,016	13,283	13,604	13,526	13,075	12,989

Shareholding Pattern Chart

No. of Shareholders

Dolphin Offshore Enterprises (India) Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 18
FaceValue	1.00	1.00	10.00	10.00	10.00
Basic EPS (Rs.)	11.62	1.59	457.29	-8.52	-4.70
Diluted EPS (Rs.)	11.62	1.59	457.29	-8.52	-4.70
Cash EPS (Rs.)	11.67	1.74	138.09	-0.45	16.24
Book Value[Excl.RevalReserv]/Share (Rs.)	68.09	55.32	561.43	25.05	347.28
Book Value[Incl.RevalReserv]/Share (Rs.)	68.09	55.32	561.43	25.05	347.28
Revenue From Operations / Share (Rs.)	18.50	1.62	0.00	0.00	99.99
PBDIT / Share (Rs.)	12.24	0.24	-2.06	-0.45	24.32
PBIT / Share (Rs.)	12.19	-0.09	-25.83	-8.52	2.93
PBT / Share (Rs.)	11.89	0.06	-27.17	-8.52	-4.60
Net Profit / Share (Rs.)	11.62	1.39	114.32	-8.52	-5.14
NP After MI And SOA / Share (Rs.)	11.62	1.39	114.32	-8.52	-5.15
PBDIT Margin (%)	66.17	15.24	0.00	0.00	24.32
PBIT Margin (%)	65.89	-6.02	0.00	0.00	2.93
PBT Margin (%)	64.26	4.07	0.00	0.00	-4.59
Net Profit Margin (%)	62.79	86.16	0.00	0.00	-5.14
NP After MI And SOA Margin (%)	62.79	86.16	0.00	0.00	-5.14
Return on Networth / Equity (%)	17.06	2.51	20.36	-33.99	-1.48
Return on Capital Employeed (%)	11.15	-0.17	-4.60	-33.22	0.83
Return On Assets (%)	10.07	2.45	17.96	-4.22	-1.08
Long Term Debt / Equity (X)	0.60	0.00	0.00	0.00	0.00
Total Debt / Equity (X)	0.60	0.00	0.10	3.11	0.10
Asset Turnover Ratio (%)	0.21	0.03	0.00	0.00	0.10
Current Ratio (X)	9.74	34.74	6.06	0.73	2.22
Quick Ratio (X)	9.74	34.74	6.06	0.71	2.19
Interest Coverage Ratio (X)	40.59	1.06	-1.55	-1900.25	3.23
Interest Coverage Ratio (Post Tax) (X)	39.51	5.30	-19.38	-35705.25	0.31
Enterprise Value (Cr.)	1298.88	1186.72	18.67	137.45	189.40
EV / Net Operating Revenue (X)	17.55	183.49	0.00	0.00	1.13
EV / EBITDA (X)	26.52	1203.81	-28.65	-180.83	4.64
MarketCap / Net Operating Revenue (X)	15.44	183.53	0.00	0.00	0.83
Price / BV (X)	4.19	5.36	0.01	0.16	0.24
Price / Net Operating Revenue (X)	15.44	183.53	0.00	0.00	0.83
EarningsYield	0.04	0.00	27.35	-2.04	-0.06

After reviewing the key financial ratios for Dolphin Offshore Enterprises (India) Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 25, the value is 1.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 1.00.
For Basic EPS (Rs.), as of Mar 25, the value is 11.62. This value is within the healthy range. It has increased from 1.59 (Mar 24) to 11.62, marking an increase of 10.03.
For Diluted EPS (Rs.), as of Mar 25, the value is 11.62. This value is within the healthy range. It has increased from 1.59 (Mar 24) to 11.62, marking an increase of 10.03.
For Cash EPS (Rs.), as of Mar 25, the value is 11.67. This value is within the healthy range. It has increased from 1.74 (Mar 24) to 11.67, marking an increase of 9.93.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 68.09. It has increased from 55.32 (Mar 24) to 68.09, marking an increase of 12.77.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 68.09. It has increased from 55.32 (Mar 24) to 68.09, marking an increase of 12.77.
For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 18.50. It has increased from 1.62 (Mar 24) to 18.50, marking an increase of 16.88.
For PBDIT / Share (Rs.), as of Mar 25, the value is 12.24. This value is within the healthy range. It has increased from 0.24 (Mar 24) to 12.24, marking an increase of 12.00.
For PBIT / Share (Rs.), as of Mar 25, the value is 12.19. This value is within the healthy range. It has increased from -0.09 (Mar 24) to 12.19, marking an increase of 12.28.
For PBT / Share (Rs.), as of Mar 25, the value is 11.89. This value is within the healthy range. It has increased from 0.06 (Mar 24) to 11.89, marking an increase of 11.83.
For Net Profit / Share (Rs.), as of Mar 25, the value is 11.62. This value is within the healthy range. It has increased from 1.39 (Mar 24) to 11.62, marking an increase of 10.23.
For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 11.62. This value is within the healthy range. It has increased from 1.39 (Mar 24) to 11.62, marking an increase of 10.23.
For PBDIT Margin (%), as of Mar 25, the value is 66.17. This value is within the healthy range. It has increased from 15.24 (Mar 24) to 66.17, marking an increase of 50.93.
For PBIT Margin (%), as of Mar 25, the value is 65.89. This value exceeds the healthy maximum of 20. It has increased from -6.02 (Mar 24) to 65.89, marking an increase of 71.91.
For PBT Margin (%), as of Mar 25, the value is 64.26. This value is within the healthy range. It has increased from 4.07 (Mar 24) to 64.26, marking an increase of 60.19.
For Net Profit Margin (%), as of Mar 25, the value is 62.79. This value exceeds the healthy maximum of 10. It has decreased from 86.16 (Mar 24) to 62.79, marking a decrease of 23.37.
For NP After MI And SOA Margin (%), as of Mar 25, the value is 62.79. This value exceeds the healthy maximum of 20. It has decreased from 86.16 (Mar 24) to 62.79, marking a decrease of 23.37.
For Return on Networth / Equity (%), as of Mar 25, the value is 17.06. This value is within the healthy range. It has increased from 2.51 (Mar 24) to 17.06, marking an increase of 14.55.
For Return on Capital Employeed (%), as of Mar 25, the value is 11.15. This value is within the healthy range. It has increased from -0.17 (Mar 24) to 11.15, marking an increase of 11.32.
For Return On Assets (%), as of Mar 25, the value is 10.07. This value is within the healthy range. It has increased from 2.45 (Mar 24) to 10.07, marking an increase of 7.62.
For Long Term Debt / Equity (X), as of Mar 25, the value is 0.60. This value is within the healthy range. It has increased from 0.00 (Mar 24) to 0.60, marking an increase of 0.60.
For Total Debt / Equity (X), as of Mar 25, the value is 0.60. This value is within the healthy range. It has increased from 0.00 (Mar 24) to 0.60, marking an increase of 0.60.
For Asset Turnover Ratio (%), as of Mar 25, the value is 0.21. It has increased from 0.03 (Mar 24) to 0.21, marking an increase of 0.18.
For Current Ratio (X), as of Mar 25, the value is 9.74. This value exceeds the healthy maximum of 3. It has decreased from 34.74 (Mar 24) to 9.74, marking a decrease of 25.00.
For Quick Ratio (X), as of Mar 25, the value is 9.74. This value exceeds the healthy maximum of 2. It has decreased from 34.74 (Mar 24) to 9.74, marking a decrease of 25.00.
For Interest Coverage Ratio (X), as of Mar 25, the value is 40.59. This value is within the healthy range. It has increased from 1.06 (Mar 24) to 40.59, marking an increase of 39.53.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 39.51. This value is within the healthy range. It has increased from 5.30 (Mar 24) to 39.51, marking an increase of 34.21.
For Enterprise Value (Cr.), as of Mar 25, the value is 1,298.88. It has increased from 1,186.72 (Mar 24) to 1,298.88, marking an increase of 112.16.
For EV / Net Operating Revenue (X), as of Mar 25, the value is 17.55. This value exceeds the healthy maximum of 3. It has decreased from 183.49 (Mar 24) to 17.55, marking a decrease of 165.94.
For EV / EBITDA (X), as of Mar 25, the value is 26.52. This value exceeds the healthy maximum of 15. It has decreased from 1,203.81 (Mar 24) to 26.52, marking a decrease of 1,177.29.
For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 15.44. This value exceeds the healthy maximum of 3. It has decreased from 183.53 (Mar 24) to 15.44, marking a decrease of 168.09.
For Price / BV (X), as of Mar 25, the value is 4.19. This value exceeds the healthy maximum of 3. It has decreased from 5.36 (Mar 24) to 4.19, marking a decrease of 1.17.
For Price / Net Operating Revenue (X), as of Mar 25, the value is 15.44. This value exceeds the healthy maximum of 3. It has decreased from 183.53 (Mar 24) to 15.44, marking a decrease of 168.09.
For EarningsYield, as of Mar 25, the value is 0.04. This value is below the healthy minimum of 5. It has increased from 0.00 (Mar 24) to 0.04, marking an increase of 0.04.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Dolphin Offshore Enterprises (India) Ltd as of March 11, 2026 is: ₹359.45

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of March 11, 2026, Dolphin Offshore Enterprises (India) Ltd is Overvalued by 9.23% compared to the current share price ₹396.00

Intrinsic Value of Dolphin Offshore Enterprises (India) Ltd as of March 11, 2026 is: ₹613.72

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of March 11, 2026, Dolphin Offshore Enterprises (India) Ltd is Undervalued by 54.98% compared to the current share price ₹396.00

Last 5 Year EPS CAGR: 70.74%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock is trading at a low valuation with an average P/B ratio of -3.86 and average Dividend Yield of 12.56%. The company has higher reserves (305.08 cr) compared to borrowings (110.15 cr), indicating strong financial stability. The company has shown consistent growth in sales (167.69 cr) and profit (26.46 cr) over the years.	The stock has a low average ROCE of 8.67%, which may not be favorable. The stock has a high average Working Capital Days of 235.75, which may not be favorable. The stock has a high average Cash Conversion Cycle of 324.08, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Dolphin Offshore Enterprises (India) Ltd:
1. Net Profit Margin: 62.79%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 11.15% (Industry Average ROCE: 10.56%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 17.06% (Industry Average ROE: 9.87%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 39.51
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 9.74
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 31.2 (Industry average Stock P/E: 97.04)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.6
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Dolphin Offshore Enterprises (India) Ltd. is a Public Limited Listed company incorporated on 17/05/1979 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L11101MH1979PLC021302 and registration number is 021302. Currently Company is involved in the business activities of Services incidental to off shore oil extraction. Company's Total Operating Revenue is Rs. 14.88 Cr. and Equity Capital is Rs. 4.00 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Oil Drilling And Exploration	Unit No. 301, Zillion Junction of LBS Marg, Mumbai Maharashtra 400070	Contact not found

Management
Name	Position Held
Mr. Dharen Shantilal Savla	Chairman & Director
Mr. Rupesh Kantilai Savia	Managing Director
Mr. Rohan Vasantkumar Shah	Director
Mrs. Shivangi Digant Shah	Addnl.Non Exe.Independent Director
Mr. Ashokkumar Ratilal Patel	Independent Director
Mrs. Shaily Jatin Dedhia	Independent Director

FAQ

What is the intrinsic value of Dolphin Offshore Enterprises (India) Ltd?

Dolphin Offshore Enterprises (India) Ltd's intrinsic value (as of 11 March 2026) is ₹613.72 which is 54.98% higher the current market price of ₹396.00, indicating undervalued. Calculated using the PE ratio method, this valuation considers the company's ₹1,582 Cr. market cap, FY2025-2026 high/low of ₹506/245, reserves of ₹298 Cr, and liabilities of ₹523 Cr.

What is the Market Cap of Dolphin Offshore Enterprises (India) Ltd?

The Market Cap of Dolphin Offshore Enterprises (India) Ltd is 1,582 Cr..

What is the current Stock Price of Dolphin Offshore Enterprises (India) Ltd as on 11 March 2026?

The current stock price of Dolphin Offshore Enterprises (India) Ltd as on 11 March 2026 is ₹396.

What is the High / Low of Dolphin Offshore Enterprises (India) Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Dolphin Offshore Enterprises (India) Ltd stocks is ₹506/245.

What is the Stock P/E of Dolphin Offshore Enterprises (India) Ltd?

The Stock P/E of Dolphin Offshore Enterprises (India) Ltd is 31.2.

What is the Book Value of Dolphin Offshore Enterprises (India) Ltd?

The Book Value of Dolphin Offshore Enterprises (India) Ltd is 75.5.

What is the Dividend Yield of Dolphin Offshore Enterprises (India) Ltd?

The Dividend Yield of Dolphin Offshore Enterprises (India) Ltd is 0.00 %.

What is the ROCE of Dolphin Offshore Enterprises (India) Ltd?

The ROCE of Dolphin Offshore Enterprises (India) Ltd is 14.7 %.

What is the ROE of Dolphin Offshore Enterprises (India) Ltd?

The ROE of Dolphin Offshore Enterprises (India) Ltd is 18.7 %.

What is the Face Value of Dolphin Offshore Enterprises (India) Ltd?

The Face Value of Dolphin Offshore Enterprises (India) Ltd is 1.00.