Thursday, July 3, 2008

Dolphin Offshore sinks

Dolphin Offshore Enterprises India declined 6.48% to Rs 150 at 14:56 IST on BSE despite securing a two-month diving services contract worth Rs 33 crore from a Malaysian firm.

The company announced the order win during trading hours today, 3 July 2008.

The stock hit a high of Rs 164.90 and a low of Rs 148.60 so far during the day. The stock had a 52-week high of Rs 363.95 on 31 December 2007 and a 52-week low of Rs 139.25 on 2 July 2008.

The company has an equity capital of Rs 9.56 crore. Face value per share is Rs 10.

The current price of Rs 150 discounts its Q4 March 2008 annualised EPS of Rs 49.15, by a

PE multiple of 3.05.

In March 2008, Dolphin Offshore Enterprises India sold anchor handling tugs vessels, Godavari Dolphin and Krishna Dolphin for $7.53 million.

Dolphin Offshore Enterprises India’s net profit rose 441.9% to Rs 11.76 crore on 37.3% increase in net sales to Rs 104.42 crore in Q4 March 2008 over Q4 March 2007.

The company provides offshore services to the oil and gas industry. The services include diving and underwater services, marine operations and management services, turnkey marine construction services, topside or fabrication services, inspection, maintenance and modifications of offshore structures, ship repair services.

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