Dolphin Offshore Enterprises (India) Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 1:04 am

Market Cap	2,200 Cr.
Current Price	550
High / Low	949/118
Stock P/E	101
Book Value	60.6
Dividend Yield	0.00 %
ROCE	0.97 %
ROE	3.22 %
Face Value	1.00
PEG Ratio	2.66

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Gujarat Natural Resources Ltd	253 Cr.	19.7	24.3/9.92		8.53	0.00 %	1.12 %	3.49 %	10.0
Dolphin Offshore Enterprises (India) Ltd	2,200 Cr.	550	949/118	101	60.6	0.00 %	0.97 %	3.22 %	1.00
Deep Energy Resources Ltd	999 Cr.	312	348/150	694	121	0.00 %	0.39 %	0.35 %	10.0
Selan Explorations Technology Ltd	1,279 Cr.	841	1,100/404	22.1	286	0.00 %	12.3 %	8.70 %	10.0
Oil India Ltd	68,610 Cr.	422	768/242	8.18	324	2.49 %	17.7 %	18.0 %	10.0
Industry Average	30,032.69 Cr	548.38		87.77	544.76	0.83%	10.49%	9.47%	6.85

All Competitor Stocks of

Quarterly Result

Month	Sep 2016	Dec 2016	Mar 2017	Mar 2022	Jun 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Sales	60	55	48	0	0	0	0	1	2	2	2	8	17
Expenses	27	31	74	0	0	1	0	1	1	1	7	2	4
Operating Profit	33	24	-27	-0	-0	-1	-0	-0	1	1	-5	6	13
OPM %	55%	44%	-56%					-23%	42%	40%	-253%	74%	76%
Other Income	1	6	6	0	0	-0	45	1	3	0	2	2	0
Interest	2	2	4	0	0	0	0	0	0	0	0	0	0
Depreciation	5	5	7	3	0	2	2	0	0	0	0	0	0
Profit before tax	27	23	-30	-4	-0	-3	42	0	4	0	-4	8	13
Tax %	0%	2%	3%	0%	0%	0%	0%	0%	0%	0%	-138%	5%	-1%
Net Profit	27	23	-31	-4	-0	-3	42	0	4	0	1	8	13
EPS in Rs	1.59	1.34	-1.87	-0.21	-0.01	-0.16	13.40	0.04	1.12	0.11	0.36	1.89	3.23

Last Updated: November 6, 2024, 6:52 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 23, 2024, 2:36 pm

Month	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
Sales	553	304	200	416	358	196	158	208	168	0	0	6	14
Expenses	446	271	201	334	230	104	91	163	128	1	1	4	11
Operating Profit	107	34	-1	82	128	93	67	44	40	-1	-1	2	3
OPM %	19%	11%	-0%	20%	36%	47%	42%	21%	24%			35%	20%
Other Income	3	22	47	15	-24	-18	10	-3	1	0	45	0	7
Interest	15	18	21	23	21	15	12	10	13	0	0	1	1
Depreciation	9	10	13	19	21	22	21	42	36	14	8	1	1
Profit before tax	87	27	12	55	62	38	44	-12	-8	-14	36	0	8
Tax %	28%	41%	63%	14%	2%	6%	8%	-5%	12%	0%	0%	-2,042%
Net Profit	62	16	4	47	61	36	41	-11	-9	-14	36	6	13
EPS in Rs	3.95	0.96	0.26	2.81	3.63	2.13	2.45	-0.66	-0.51	-0.85	11.43	1.39	3.48
Dividend Payout %	8%	16%	59%	5%	0%	0%	0%	0%	0%	0%	0%	0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2010-2011	2011-2012	2012-2013	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2022-2023	2023-2024
YoY Net Profit Growth (%)	-74.19%	-75.00%	1075.00%	29.79%	-40.98%	13.89%	-126.83%	18.18%	357.14%	-83.33%
Change in YoY Net Profit Growth (%)	0.00%	-0.81%	1150.00%	-1045.21%	-70.77%	54.87%	-140.72%	145.01%	338.96%	-440.48%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2010-2011 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	-33%
5 Years:	%
3 Years:	%
TTM:	951%

Compounded Profit Growth
10 Years:	-24%
5 Years:	%
3 Years:	%
TTM:	1044%

Stock Price CAGR
10 Years:	42%
5 Years:	285%
3 Years:	%
1 Year:	364%

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

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 4:37 pm

Month	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	16	17	17	17	17	17	17	17	17	17	3	4	4
Reserves	199	227	224	259	333	374	428	573	566	25	174	217	238
Borrowings	172	186	183	166	139	66	61	58	64	131	18	1	1
Other Liabilities	125	97	67	180	121	97	98	105	146	165	6	5	119
Total Liabilities	512	527	492	621	609	554	603	753	793	338	201	227	363
Fixed Assets	119	113	218	207	216	201	189	324	289	66	58	3	2
CWIP	95	101	2	1	1	13	19	0	0	0	0	47	167
Investments	0	0	0	0	0	0	0	0	0	20	0	15	13
Other Assets	298	312	272	412	392	340	395	429	503	253	143	164	181
Total Assets	512	527	492	621	609	554	603	753	793	338	201	227	363

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	61	-13	38	58	62	89	20	-8	22	-1	-4	4
Cash from Investing Activity +	-61	-7	-15	-12	-10	-2	-5	22	-6	0	0	-24
Cash from Financing Activity +	8	10	-28	-43	-51	-88	-17	-13	-18	1	5	20
Net Cash Flow	8	-9	-4	2	2	-1	-2	1	-2	-0	0	-0

Free Cash Flow

Month	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-65.00	-152.00	-184.00	-84.00	-11.00	27.00	6.00	-14.00	-24.00	-132.00	-19.00	1.00

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 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2023	Mar 2024
Debtor Days	124	266	334	191	195	326	553	407	636		7,972
Inventory Days											-0
Days Payable
Cash Conversion Cycle	124	266	334	191	195	326	553	407	636		7,972
Working Capital Days	102	208	254	138	219	383	578	480	657		8,618
ROCE %	30%	9%	5%	18%	26%	17%	12%	4%	1%	-4%	1%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoters	54.83%	54.83%	54.83%	54.83%	54.83%	54.83%	94.98%	94.98%	94.98%	74.99%	74.99%	74.99%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	12.82%	12.82%	12.82%
DIIs	0.16%	0.34%	0.22%	0.62%	1.31%	1.31%	2.00%	2.00%	2.00%	1.58%	1.58%	1.58%
Public	45.02%	44.84%	44.95%	44.55%	43.86%	43.86%	3.01%	3.01%	3.02%	10.60%	10.62%	10.62%
No. of Shareholders	14,717	15,219	15,148	15,026	14,814	14,814	12,022	12,022	11,440	10,972	11,254	13,613

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 18	Mar 17
FaceValue	1.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	1.59	457.29	-8.52	-4.70	-10.76
Diluted EPS (Rs.)	1.59	457.29	-8.52	-4.70	-10.76
Cash EPS (Rs.)	1.74	138.09	-0.45	16.24	18.65
Book Value[Excl.RevalReserv]/Share (Rs.)	55.32	561.43	25.05	347.28	351.90
Book Value[Incl.RevalReserv]/Share (Rs.)	55.32	561.43	25.05	347.28	351.90
Revenue From Operations / Share (Rs.)	1.62	0.00	0.00	99.99	123.74
PBDIT / Share (Rs.)	0.24	-2.06	-0.45	24.32	39.11
PBIT / Share (Rs.)	-0.09	-25.83	-8.52	2.93	13.83
PBT / Share (Rs.)	0.06	-27.17	-8.52	-4.60	-6.99
Net Profit / Share (Rs.)	1.39	114.32	-8.52	-5.14	-6.63
NP After MI And SOA / Share (Rs.)	1.39	114.32	-8.52	-5.15	-6.63
PBDIT Margin (%)	15.24	0.00	0.00	24.32	31.60
PBIT Margin (%)	-6.02	0.00	0.00	2.93	11.17
PBT Margin (%)	4.07	0.00	0.00	-4.59	-5.64
Net Profit Margin (%)	86.16	0.00	0.00	-5.14	-5.35
NP After MI And SOA Margin (%)	86.16	0.00	0.00	-5.14	-5.35
Return on Networth / Equity (%)	2.51	20.36	-33.99	-1.48	-1.88
Return on Capital Employeed (%)	-0.17	-4.60	-33.22	0.83	3.91
Return On Assets (%)	2.45	17.96	-4.22	-1.08	-1.47
Total Debt / Equity (X)	0.00	0.10	3.11	0.10	0.09
Asset Turnover Ratio (%)	0.03	0.00	0.00	0.10	0.14
Current Ratio (X)	34.74	6.06	0.73	2.22	2.40
Quick Ratio (X)	34.74	6.06	0.71	2.19	2.35
Interest Coverage Ratio (X)	1.06	-1.55	-1900.25	3.23	6.29
Interest Coverage Ratio (Post Tax) (X)	5.30	-19.38	-35705.25	0.31	2.28
Enterprise Value (Cr.)	1186.72	18.67	137.45	189.40	262.35
EV / Net Operating Revenue (X)	183.49	0.00	0.00	1.13	1.26
EV / EBITDA (X)	1203.81	-28.65	-180.83	4.64	4.00
MarketCap / Net Operating Revenue (X)	183.53	0.00	0.00	0.83	1.04
Price / BV (X)	5.36	0.01	0.16	0.24	0.36
Price / Net Operating Revenue (X)	183.53	0.00	0.00	0.83	1.04
EarningsYield	0.00	27.35	-2.04	-0.06	-0.05

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 21, 2024 is: 201.02

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 December 21, 2024, is Overvalued by 63.45% compared to the current share price 550.00

Intrinsic Value of as of December 21, 2024 is: 277.24

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 December 21, 2024, is Overvalued by 49.59% compared to the current share price 550.00

Last 5 Year EPS CAGR: 37.92%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has higher reserves (295.15 cr) compared to borrowings (95.85 cr), indicating strong financial stability. The company has shown consistent growth in sales (198.54 cr) and profit (25.77 cr) over the years.	The stock has a low average ROCE of 9.92%, which may not be favorable. The stock has a high average Working Capital Days of 252.25, which may not be favorable. The stock has a high average Cash Conversion Cycle of 253.25, which may not be favorable.

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 :
1. Net Profit Margin: 86.16%
  - 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: -0.17% (Industry Average ROCE: 9.68%)
  - 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%: 2.51% (Industry Average ROE: 8.74%)
  - 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): 5.3
  - 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: 34.74
  - 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: 101 (Industry average Stock P/E: 74.26)
  - 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
  - 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. 54.81 Cr. and Equity Capital is Rs. 16.77 Cr. for the Year ended 31/03/2018.

INDUSTRY	ADDRESS	CONTACT
Oil Drilling And Exploration	Unit No. 301, Zillion Junction of LBS Marg, Mumbai Maharashtra 400070	info@dolphinoffshore.com http://www.dolphinoffshore.com

Management
Name	Position Held
Mr. Dharen Shantilal Savla	Chairman, Non Ind & Non Exe Director
Mr. Rupesh Kantilai Savia	Managing Director
Mr. Rohan Vasantkumar Shah	Executive Director
Mr. Christopher Joseph Rodricks	Ind. Non-Executive Director
Mr. Ashokkumar Ratilal Patel	Ind. Non-Executive Director
Mrs. Shaily Jatin Dedhia	Ind. Non-Executive Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 21 December 2024 is ₹201.02, which is 63.45% lower than the current market price of ₹550.00. The stock has a market capitalization of 2,200 Cr. and recorded a high/low of 949/118 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹238 Cr and total liabilities of ₹363 Cr.

What is the Market Cap of ?

The Market Cap of is 2,200 Cr..

What is the current Stock Price of as on 21 December 2024?

The current stock price of as on 21 December 2024 is 550.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 949/118.

What is the Stock P/E of ?

The Stock P/E of is 101.

What is the Book Value of ?

The Book Value of is 60.6.

What is the Dividend Yield of ?

The Dividend Yield of is 0.00 %.

What is the ROCE of ?

The ROCE of is 0.97 %.

What is the ROE of ?

The ROE of is 3.22 %.

What is the Face Value of ?

The Face Value of is 1.00.