Dolphin Offshore Enterprises (India) Ltd

(DOLPHIN)

Incorporated in May.79 as a private limited company Dolphin Offshore Enterprises India Ltd DOEIL was converted into a public limited company in May 94. It was promoted by Kirpal Singh. The Company went in for its Initial Public Offer in 1994 and got listed on the Bombay and National Stock Exchanges.The Company is a leading provider of underwater services to the Indian oil and gas industry. It provides ancillary services like diving underwater engineering vessel management oil exploration and drilling pipeline inspections geophysical surveys and geotechnical services. Over the years it developed a diversified portfolio for undertaking turnkey projects involving subsea and marine services and as an EPC contractor.The Company is engaged in the Business of offering comprehensive underwater services including Air Mixed Gas and Saturation diving services to the Indian Offshore Oil Gas Industry since 1979. It has since provided these services overseas as well in places including but not limited to Vietnam China Malaysia and Middle East. It has also been providing ROV services on drill ships since 1995.The company has entered into a tieup with the Singaporebased Sembawang Maritime SML which will provide the entire range of marine transportation and offshore logistics activities in India. The new jointventure SMLDolphin Maritime Pvt Ltd has 51 foreign equity participation. In 1994 the Company acquired its first vessel the GANGA Dolphin. The Company has since expanded its fleet to 1 Accommodation and Work Barge 4 OSVs / Workboats and one AHTS.DOEL has successfully undertaken turnkey projects for N N N Japan ONGC Mazagon Dock Essar Oil Jindal Drilling and other organisations working on the Indian waters. On 31 Dec.95 the company acquired its first ocean going vessel Ganga Dolphin. It is a surveycumutility vessel and the only one of its kind under the Indian flag.The company has received ISO 9002 Certification through American Bureau of Shipping ABS for marine management of vessels diving and underwater engineering management of fabrication and offshore turnkey projects and ship repairs. The company has completed the Mumbai North Clampon Project during 200102. The company is the subcontractors to Larsen Toubro Ltd for the turnkey offshore scope of work on the installation of clamps and platform.The company has acquired an Vessel M V Mernaid Explorer during January 2005 at a cost of US 2.15 million.This vessel has been acquired from Mermaid Marine Agencies Pvt Ltd.Australia and the vessel has been renamed as Brahmaputra Dolphin.With completion of BBBLRP Contract Company the Company was qualified as Independent Main Contractor for ONGC EPC contracts.In 201011 DOEIL supplied commissioned Distributed Control System PLC System and Fire Gas Detection System consisting of HPM controller NIM Module at NQD ICP platform for Monitoring control of all the process variables for the additional facilities at NQD ICP Platform. It also supplied commissioned the PMCC Electrical Panels along with the modification in Switchgear Cable laying Glanding Termination.The wholly owned subsidiary company Dolphin Offshore Enterprises Mauritius Pvt. Ltd. DOEMPL and Dolphin Offshore Shipping Ltd. DOSL performed well in 201213 through which the ownership and Management of the Company was changed with effect from 1st September 2006 and the Company became a wholly owned subsidiary of Dolphin Offshore Enterprises India Limited DOEIL. DOSL had also taken on management in one Anchor Handling Tug AMS Divine which is on a BBCD charter from Triton Offshore to Dolphin Offshore Enterprises Mauritius Pvt. Ltd. And the vessel was currently under BBC to M/s. Evya Mexico. In 2015 the Company commenced diving operations in Iran working with SGK and RAL Offshore. The Project OGIP Power to ESP was envisaged to establish connectivity between three process platforms and their respective 12 unmanned platform by providing power to the wellhead platforms for ESPs. To facilitate this purpose 55 km of composite submarine cables for power and communication networking were laid. 12 Electrical houses were installed and commissioned at each unmanned platform including deck extensions for housing various electrical and control panels. Moreover SCADA system was installed and commissioned in all 3 process platforms to monitor the real time data remotely and the said Project was completed in 2014.In July 2020 the Company was admitted for Corporate Insolvency Resolution process under Insolvency and Bankruptcy Code 2016 due to default in payment to bank borrowing or towards outstanding due to its Operational Creditor.During the year 2023 the Company sold its investment in Dolphin Offshore Shipping Limited due to which Dolphin Offshore Shipping Limited ceased to be the subsidiary of the Company. Company also sold its investments in Global Dolphin Drilling Company Limited and IMPaC Oil and Gas Engineering India Private Limited and therefore the Company had one wholly owned Subsidiary viz. Dolphin Offshore Enterprises Mauritius Private Limited..

Share Price: ₹516.45 per share as on 21 Nov, 2024 04:01 PM
Market Capitalisation: ₹2,133.64Cr as of today
Revenue: ₹16.73Cr as on September 2024 (Q3 24)
Net Profit: ₹12.92Cr as on September 2024 (Q3 24)
Listing date: 06 Oct, 2006
Chairperson Name: Dharen S Savla