Tulsian told CNBC-TV18, "Dolphin Offshore is providing the underwater services to the offshore oil and gas industry like ship repairs, rig repairs, pipeline repairs and even carrying out pre-engineering services. If you see the performance for FY09, the company had an EPS of about Rs 40 plus. They had a very small equity of about Rs 9.5 crore and post that their equity has risen to 15.5 crore."
He further added, "In FY10 they should be having an EPS of about close to Rs 45 because they have already posted an EPS of Rs 16. We all know that this second quarter of this company is always having a very low activity because of the monsoon you cannot carry out your activity. So there will be an increase of about maybe about 45-50% on the topline but the bottom-line should grow about at 60-65%."
"This is the only engineering services company providing such critical services and equipments and such activity are not provided by any other company. So if one can have a 2-3 year view also on the stock, I think this is quite positive but my day target for the stock is at Rs 442."
