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Dolphin Offshore Enterprises India Ltd. (IN:DOLPHIN)
:DOLPHIN
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Dolphin Offshore Enterprises India Ltd.
(DOLPHIN)
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Rating:64Neutral
Price Target:
₹448.00
▲(16.08% Upside)
Dolphin Offshore Enterprises' overall stock score is driven primarily by its strong financial recovery and improved balance sheet. However, the technical indicators suggest a cautious outlook, and the high P/E ratio indicates potential overvaluation. The lack of dividend yield and absence of earnings call data further moderate the score.
Dolphin Offshore Enterprises India Ltd. (DOLPHIN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹15.44B
Dividend YieldN/A
Average Volume (3M)578.00
Price to Earnings (P/E)30.7
Beta (1Y)0.69
Revenue Growth481.64%
EPS Growth258.51%
CountryIN
Employees878
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)2.83
Shares Outstanding40,004,580
10 Day Avg. Volume609
30 Day Avg. Volume578
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)4.33
Price to Sales (P/S)15.93
P/FCF Ratio-7.37
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹448.00Price Target Upside16.08% Upside
Rating ConsensusHold
Number of Analyst Covering1
Dolphin Offshore Enterprises India Ltd. Business Overview & Revenue Model
Company DescriptionDolphin Offshore Enterprises (India) Limited provides offshore and marine services to the oil and gas industry in India. It offers underwater services, including air, mixed gas, and saturation diving services. The company also offers design and engineering services. In addition, it provides ship and rig repair services; marine logistics; vessel operations and management, and fabrication services. Further, the company offers offshore hook-up and commissioning; and electrical, and instrumentation services, as well as undertakes turnkey EPC contracts. Dolphin Offshore Enterprises (India) Limited was incorporated in 1979 and is based in Mumbai, India.
How the Company Makes MoneyThe company generates revenue primarily through its comprehensive suite of services tailored to the needs of the oil and gas industry. Key revenue streams include contracts for offshore construction projects, underwater engineering services, and vessel chartering. Dolphin Offshore Enterprises India Ltd. partners with major oil and gas companies to provide specialized services that ensure the operational efficiency and safety of offshore installations. The company's earnings are significantly influenced by its ability to secure long-term contracts and maintain strategic partnerships with industry leaders, which help stabilize its revenue flow in a sector that can be volatile due to fluctuating oil prices and regulatory changes.
Dolphin Offshore Enterprises India Ltd. Financial Statement Overview
Summary
Dolphin Offshore Enterprises has shown a significant financial recovery with strong revenue and profit growth. The balance sheet reflects improved equity and manageable leverage, while cash flows indicate better operational efficiency. However, historical losses and high liabilities pose a risk if market conditions deteriorate.Income Statement
Dolphin Offshore Enterprises exhibited a remarkable turnaround in revenue and profitability over the past year. The company reported a significant increase in Total Revenue from INR 64.67 million in 2024 to INR 740.19 million in 2025, indicating a strong recovery and growth trajectory. Gross Profit Margin and Net Profit Margin both improved substantially, with the latter reaching 62.79% in 2025, showcasing strong profitability. However, the historical data shows periods of zero revenue and losses, which highlight past volatility and potential future risks.75
Positive
Balance Sheet
The company's balance sheet shows a robust improvement in Stockholders' Equity, which increased to INR 2,724.05 million in 2025 from INR 2,213.27 million in 2024. The Debt-to-Equity Ratio stands at a manageable 0.60, indicating a reasonable level of leverage. The Equity Ratio improved, reflecting better asset management. However, the company has historically faced high liabilities and negative equity, suggesting potential vulnerabilities if past conditions recur.70
Positive
Cash Flow
Operating cash flow is positive at INR 104.70 million, showing improvement in cash generation. The Free Cash Flow to Net Income ratio suggests efficient cash usage. However, the significant capital expenditure reported in 2025 impacts free cash flow growth, and historical negative cash flows indicate a potential risk of cash management issues persisting.65
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 821.21M | 740.19M | 64.67M | 0.00 | 0.00 | 153.56M |
| Gross Profit | 556.04M | 483.58M | 36.46M | -75.08M | -135.22M | -117.50M |
| EBITDA | 543.95M | 458.82M | 25.66M | -6.52M | -7.60M | -643.99M |
| Net Income | 502.60M | 464.80M | 55.73M | 361.08M | -142.82M | -849.64M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 4.61B | 2.27B | 2.01B | 3.38B | 2.70B |
| Cash, Cash Equivalents and Short-Term Investments | 358.03M | 358.03M | 148.45M | 6.45M | 1.95M | 2.18M |
| Total Debt | 0.00 | 1.65B | 11.63M | 180.25M | 1.31B | 1.28B |
| Total Liabilities | -2.72B | 1.89B | 61.33M | 236.25M | 2.96B | 2.90B |
| Stockholders Equity | 2.72B | 2.72B | 2.21B | 1.77B | 420.15M | -199.73M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -1.60B | 35.30M | -44.23M | -8.56M | -510.45M |
| Operating Cash Flow | 0.00 | 104.70M | 35.30M | -44.23M | -8.56M | -510.45M |
| Investing Cash Flow | 0.00 | -1.67B | -235.68M | 700.00K | 0.00 | 132.44M |
| Financing Cash Flow | 0.00 | 1.64B | 195.56M | 48.03M | 7.97M | 377.56M |
Dolphin Offshore Enterprises India Ltd. Technical Analysis
Negative
385.95
Price Trends
416.54
Negative
412.71
Negative
397.47
Negative
Market Momentum
-9.30
Positive
39.55
Neutral
46.51
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:DOLPHIN, the sentiment is Negative. The current price of 385.95 is below the 20-day moving average (MA) of 399.81, below the 50-day MA of 416.54, and below the 200-day MA of 397.47, indicating a bearish trend. The MACD of -9.30 indicates Positive momentum. The RSI at 39.55 is Neutral, neither overbought nor oversold. The STOCH value of 46.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:DOLPHIN.
Dolphin Offshore Enterprises India Ltd. Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹23.17B | 20.06 | 8.89% | ― | -13.53% | -19.71% | |
69 Neutral | ₹17.20B | 7.23 | 13.59% | 0.17% | 31.27% | 187.19% | |
68 Neutral | ₹22.92B | 15.36 | 11.14% | ― | -49.37% | -26.26% | |
64 Neutral | ₹15.44B | 30.72 | ― | ― | 481.64% | 258.51% | |
57 Neutral | ₹32.54B | -47.62 | -4.95% | 0.60% | 45.21% | -152.68% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% |
* Energy Sector Average
IN:DOLPHIN
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385.95
-194.25
-33.48%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.