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Last Updated on: 14 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo
Stock Ticker - BSE: 522261 | NSE: DOLPHIN

Dolphin Offshore Enterprises (India) Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 13, 2024, 8:31 pm

Market Cap 2,070 Cr.
Current Price 509
High / Low949/70.8
Stock P/E94.9
Book Value 60.6
Dividend Yield0.00 %
ROCE0.97 %
ROE3.22 %
Face Value 1.00
PEG Ratio2.50

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

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

Competitors of Dolphin Offshore Enterprises (India) Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Gujarat Natural Resources Ltd 217 Cr. 27.031.1/12.7 13.20.00 %1.15 %3.61 % 10.0
Dolphin Offshore Enterprises (India) Ltd 2,070 Cr. 509949/70.894.9 60.60.00 %0.97 %3.22 % 1.00
Deep Energy Resources Ltd 999 Cr. 312348/139694 3930.00 %15.8 %12.4 % 10.0
Selan Explorations Technology Ltd 1,380 Cr. 9081,100/40423.9 2860.00 %12.3 %8.70 % 10.0
Oil India Ltd 82,721 Cr. 509768/1959.87 3242.06 %17.7 %18.0 % 10.0
Industry Average36,176.67 Cr596.6294.71602.300.84%11.17%9.77%6.58

All Competitor Stocks of Dolphin Offshore Enterprises (India) Ltd

Quarterly Result

MonthSep 2016Dec 2016Mar 2017Mar 2022Jun 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Sales60554800001222817
Expenses2731740010111724
Operating Profit3324-27-0-0-1-0-011-5613
OPM %55%44%-56%-23%42%40%-253%74%76%
Other Income16600-045130220
Interest2240000000000
Depreciation5573022000000
Profit before tax2723-30-4-0-342040-4813
Tax %0%2%3%0%0%0%0%0%0%0%-138%5%-1%
Net Profit2723-31-4-0-3420401813
EPS in Rs1.591.34-1.87-0.21-0.01-0.1613.400.041.120.110.361.893.23

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

Quarterly Chart

Profit & Loss - Annual Report

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

MonthMar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2022Mar 2023Mar 2024TTM
Sales55330420041635819615820816800614
Expenses4462712013342301049116312811411
Operating Profit10734-18212893674440-1-123
OPM %19%11%-0%20%36%47%42%21%24%35%20%
Other Income3224715-24-1810-3104507
Interest1518212321151210130011
Depreciation9101319212221423614811
Profit before tax87271255623844-12-8-143608
Tax %28%41%63%14%2%6%8%-5%12%0%0%-2,042%
Net Profit6216447613641-11-9-1436613
EPS in Rs3.950.960.262.813.632.132.45-0.66-0.51-0.8511.431.393.48
Dividend Payout %8%16%59%5%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2010-20112011-20122012-20132013-20142014-20152015-20162016-20172017-20182022-20232023-2024
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%

Dolphin Offshore Enterprises (India) Ltd 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:39%
5 Years:272%
3 Years:%
1 Year:626%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:3%

Last Updated: Unknown

Balance Sheet

Last Updated: Unknown

MonthMar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2022Mar 2023Mar 2024
Equity Capital1617171717171717171734
Reserves19922722425933337442857356625174217
Borrowings17218618316613966615864131181
Other Liabilities1259767180121979810514616565
Total Liabilities512527492621609554603753793338201227
Fixed Assets11911321820721620118932428966583
CWIP951012111319000047
Investments00000000020015
Other Assets298312272412392340395429503253143164
Total Assets512527492621609554603753793338201227

Reserves and Borrowings Chart

Cash Flow

MonthMar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +61-133858628920-822-1-44
Cash from Investing Activity +-61-7-15-12-10-2-522-600-24
Cash from Financing Activity +810-28-43-51-88-17-13-181520
Net Cash Flow8-9-422-1-21-2-00-0

Free Cash Flow

MonthMar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2022Mar 2023Mar 2024
Free Cash Flow-65.00-152.00-184.00-84.00-11.0027.006.00-14.00-24.00-132.00-19.001.00

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

MonthMar 2010Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2022Mar 2023Mar 2024
Debtor Days1242663341911953265534076367,972
Inventory Days-0
Days Payable
Cash Conversion Cycle1242663341911953265534076367,972
Working Capital Days1022082541382193835784806578,618
ROCE %30%9%5%18%26%17%12%4%1%-4%1%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2018Sep 2018Dec 2018Mar 2019Jun 2019Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters54.83%54.83%54.83%54.83%54.83%54.83%94.98%94.98%94.98%74.99%74.99%74.99%
FIIs0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%12.82%12.82%12.82%
DIIs0.16%0.34%0.22%0.62%1.31%1.31%2.00%2.00%2.00%1.58%1.58%1.58%
Public45.02%44.84%44.95%44.55%43.86%43.86%3.01%3.01%3.02%10.60%10.62%10.62%
No. of Shareholders14,71715,21915,14815,02614,81414,81412,02212,02211,44010,97211,25413,613

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 18Mar 17
FaceValue1.0010.0010.0010.0010.00
Basic EPS (Rs.)15.85457.29-8.52-4.70-10.76
Diluted EPS (Rs.)15.85457.29-8.52-4.70-10.76
Cash EPS (Rs.)1.74138.09-0.4516.2418.65
Book Value[Excl.RevalReserv]/Share (Rs.)55.32561.4325.05347.28351.90
Book Value[Incl.RevalReserv]/Share (Rs.)55.32561.4325.05347.28351.90
Revenue From Operations / Share (Rs.)1.620.000.0099.99123.74
PBDIT / Share (Rs.)0.24-2.06-0.4524.3239.11
PBIT / Share (Rs.)-0.09-25.83-8.522.9313.83
PBT / Share (Rs.)0.06-27.17-8.52-4.60-6.99
Net Profit / Share (Rs.)1.39114.32-8.52-5.14-6.63
NP After MI And SOA / Share (Rs.)1.39114.32-8.52-5.15-6.63
PBDIT Margin (%)15.240.000.0024.3231.60
PBIT Margin (%)-6.020.000.002.9311.17
PBT Margin (%)4.070.000.00-4.59-5.64
Net Profit Margin (%)86.160.000.00-5.14-5.35
NP After MI And SOA Margin (%)86.160.000.00-5.14-5.35
Return on Networth / Equity (%)2.5120.36-33.99-1.48-1.88
Return on Capital Employeed (%)-0.17-4.60-33.220.833.91
Return On Assets (%)2.4517.96-4.22-1.08-1.47
Total Debt / Equity (X)0.000.103.110.100.09
Asset Turnover Ratio (%)0.030.000.000.100.14
Current Ratio (X)36.926.060.732.222.40
Quick Ratio (X)36.926.060.712.192.35
Interest Coverage Ratio (X)1.06-1.55-1900.253.236.29
Interest Coverage Ratio (Post Tax) (X)5.30-19.38-35705.250.312.28
Enterprise Value (Cr.)1186.7218.67137.45189.40262.35
EV / Net Operating Revenue (X)183.490.000.001.131.26
EV / EBITDA (X)1203.81-28.65-180.834.644.00
MarketCap / Net Operating Revenue (X)183.530.000.000.831.04
Price / BV (X)5.360.010.160.240.36
Price / Net Operating Revenue (X)183.530.000.000.831.04
EarningsYield0.0027.35-2.04-0.06-0.05

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Dolphin Offshore Enterprises (India) Ltd as of November 14, 2024 is: 188.88

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 November 14, 2024, Dolphin Offshore Enterprises (India) Ltd is Overvalued by 62.89% compared to the current share price 509.00

Intrinsic Value of Dolphin Offshore Enterprises (India) Ltd as of November 14, 2024 is: 260.50

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 November 14, 2024, Dolphin Offshore Enterprises (India) Ltd is Overvalued by 48.82% compared to the current share price 509.00

Last 5 Year EPS CAGR: 37.92%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (299.92 cr) compared to borrowings (103.75 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (198.54 cr) and profit (25.77 cr) over the years.
  1. The stock has a low average ROCE of 9.92%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 252.25, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 253.25, 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: 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: 11.17%)
      • 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: 9.77%)
      • 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: 36.92
      • 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: 94.9 (Industry average Stock P/E: 94.71)
      • 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.
INDUSTRYADDRESSCONTACT
Oil Drilling And ExplorationUnit No. 301, Zillion Junction of LBS Marg, Mumbai Maharashtra 400070info@dolphinoffshore.com
http://www.dolphinoffshore.com
Management
NamePosition Held
Mr. Dharen Shantilal SavlaChairman, Non Ind & Non Exe Director
Mr. Rupesh Kantilai SaviaManaging Director
Mr. Rohan Vasantkumar ShahExecutive Director
Mr. Christopher Joseph RodricksInd. Non-Executive Director
Mr. Ashokkumar Ratilal PatelInd. Non-Executive Director
Mrs. Shaily Jatin DedhiaInd. Non-Executive Director

FAQ

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

The latest intrinsic value of Dolphin Offshore Enterprises (India) Ltd as on 13 November 2024 is ₹188.88, which is 62.89% lower than the current market price of ₹509.00.

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

The Market Cap of Dolphin Offshore Enterprises (India) Ltd is 2,070 Cr..

What is the current Stock Price of Dolphin Offshore Enterprises (India) Ltd as on 13 November 2024?

The current stock price of Dolphin Offshore Enterprises (India) Ltd as on 13 November 2024 is ₹509.

What is the High / Low of Dolphin Offshore Enterprises (India) Ltd stocks in FY 2024?

In FY 2024, the High / Low of Dolphin Offshore Enterprises (India) Ltd stocks is 949/70.8.

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

The Stock P/E of Dolphin Offshore Enterprises (India) Ltd is 94.9.

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

The Book Value of Dolphin Offshore Enterprises (India) Ltd is 60.6.

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 0.97 %.

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

The ROE of Dolphin Offshore Enterprises (India) Ltd is 3.22 %.

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

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

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Dolphin Offshore Enterprises (India) Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE