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Dolphin Offshore Enterprises (I) Ltd.

BSE: 522261 | NSE: DOLPHINOFF | Series: NA | ISIN: INE920A01011 | SECTOR: Oil Drilling And Exploration

BSE Live

May 26, 16:00
4.18 0.00 (0.00%)
Volume
No Data Available
54
  • Prev. Close

    4.18

  • Open Price

    4.18

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    4.18 (2)

Dolphin Offshore Enterprises (I) is not traded on BSE in the last 30 days

NSE Live

May 26, 15:32
3.80 0.00 (0.00%)
Volume
No Data Available
1,625
  • Prev. Close

    3.80

  • Open Price

    3.65

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Dolphin Offshore Enterprises (I) is not traded on NSE in the last 30 days

Annual Report

For Year :
2018 2016 2015 2014 2013 2012 2011 2010 2009

Chairman's Speech

Dear Shareholders, Around this time, last year I shared with you the planned progress of your Company and I am happy to report that it is progressing well. Our Sale Revenue |br the year improved by t35S2% white the Net Profit increased by 60.32% over the previous year.This year your Company has declared 25% as dividend on the enhanced Share Capital. Your Company, through its wholly owned subsidiary set up in Mauritius have signed a Contract with M/s. Shoft Engineers Pvt. Ltd. for construction of one 275 Men DP2 Accommodation/ Crane Barge.The construction of two work boats cum supply vessels by M/s. Alcock Ashdown (Gujarat) Ltd. is progressing well, however there may be some delay in their delivery due to delay in delivery of certain equipments.The said vessels and Barge are likely to be delivered during March 2008 and December 2008 respectively. Your Company is also in the process of acquiring a 450 ton Kobelco 7450 Crane for an approximate cost of US$2.75 million for installation on the construction barge. Until such time the barge is ready, the said crane will be used in the ongoing turnkey jobs of the Company. In view of the acute shortage of qualified divers,diving technicians and ROV personnel not only in lndia,but worldwide your Company is in discussion with Government of India and the Norwegian Government to set up a state of the art Institute for research activities and promoting the development of Underwater and Deepwater Technology in India. In August 2006, your Company had acquired 100% stake in Procyon Offshore Services Pvt. Ltd.This wholly owned subsidiary has done reasonably well and expects to perform well in the coming years due to increase in charter rates. Procyon has also plans to strengthen its fleet. Your Company also plans to set up a Shipbuilding, Ship Repair cum Fabrication Yard at Jafrabad, Gujarat.The Gujarat Maritime Board has approved our proposal;formal communication is expected soon. As you are aware that your Company had issued US$15 million Foreign Currency Convertible Bonds (FCCBs) on December 22, 2005, we are pleased to inform you that your Company has received a Conversion Notice from the Bondholders, M/s.Clearwater Capital Partners for the conversion 3000 Bonds of US$1000/-each. Hence, your Company would be allotting 6,04,933 Equity Shares of Rs.10/-each at a premium of Rs.215/-pershare. As you are also aware that your Company is presently operating from its offices at Nariman Point,Bandra and Vashi(Navi Mumbai) and in order to bring all the divisions under one roof and also to cater to the current and future expansion, your Company will soon be shifting to its new office at its leased premises at CBD, Belapur (Navi Mumbai). Your Company has made steady progress towards filling the absence of an Indian marine construction contractor. Once the new built vessels join the Companys fleet, the Company will have completed the first phase in its march towards this goal. Your Company will enter into strategic alliances with overseas companies having offshore pipe laying and heavy lift capability so that the combined resources of these alliances can undertake the full range of offshore construction work. I am happy to inform you that the Ex. CMD of Tata Consultancy Services Ltd. and Founder of Indian Software Industry Dr. Faqir Chand Kohli has joined the Board of your Company. This is yet another milestone towards the induction of professionalism in the working of your Company. I take this opportunity to convey my appreciation to our very committed and loyal employees who have been responsible for the Companys growth. It is due to their efforts that your Company has built up a reputation of reliability, diligence and dependability. Date : July 16,2007 Place: Mumbai