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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, I am happy to inform you that this year has been very significant as your Company, working as a consortium member, has completed two offshore construction EPC contracts for ONGCL successfully. Consequently, your Company is now recognized and approved by ONGCL for undertaking offshore construction EPC contracts directly and independently. This qualification will enable your Company to have more freedom for bidding for new contracts which will strengthen the Companys future growth prospects. I am also pleased to state that despite having faced adverse weather conditions which has reduced the offshore working season to around 5 1/2 months as against a normal working season of 7 - 8 months,your Company has been able to increase its turnover upto Rs.227.70 crores,a 10% increase over last year. Net profits after tax have also increased by 9.6% to Rs.16.26 crores.Your Company has declared dividend of 25% despite enhancement in share capital. On the vessel front, work on the two workboats cum supply vessels and the accommodation barges is progressing. However, the shipyards have encountered some delays and the two workboats are expected to be delivered to us by November, 2008 while the barge will be delivered by January, 2009. The two anchor handling and towing supply vessels, Krishna Dolphin and Godavari Dolphin have been sold during the year at a profit of approximately Rs.12.60 crores. Further during the beginning of 2008-09 the other two vessels owned by the Company, Brahmaputra Dolphin and Ganga Dolphin have been transferred to your wholly owned subsidiary Procyon Offshore Services Limited, which will be the company responsible for all marine activities for the Dolphin Offshore group. The Company has received In principleapproval from the Gujarat Maritime Board for setting up its shipbuilding, ship repair cum fabrication yard at Jafrabad,Gujarat.Workon preparation of the detailed project report and environmental studies are currently underway in order to get the Environmental and CRZ clearances so that the allocation of land and development of the infrastructure can commence. It is expected that these clearances will be received by June 2009. Your Company has also relocated all its offices to its new leased premises at CBD Belapur (Navi Mumbai).This relocation has enabled all divisions of the Company to operate under one roof and also to cater for the future expansion requirements of your Company.This relocation in turn has helped in establishing better co-ordination and control of activities between the different divisions, which is necessary for successful completion of turnkey projects. I am also happy to inform you that discussions with the Government of India, the Norwegian Government and International Institutions are progressing well for the development of a training centre in India for divers, diving technician and ROV personal and for the setting up of a state of the art institute for research and development of underwater and deepwater technology. As may be seen from the above, your Company is progressing well along the path planned for future sustained growth, which I had shared with you earlier. I take this opportunity to acknowledge and thank my fellow Board Members for their advice and guidance in steering the Company on its path for growth and excellence. I also wish to express my gratitude and appreciation to our very committed and capable team of employees who have contributed significantly in building up the reputation of your Company for reliability, diligence and dependability.