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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, It gives me pleasure to present the details of the performance of your Company for the Financial Year 2012-2013. The Annual Report consisting of the Accounts for the year ended March 31, 2013 and Notice convening the Annual General Meeting is enclosed herewith. The results of your Company have been mixed as compared to the previous year. The Turnover was Rs.340.29 crores during Financial Year 2012-2013 on a standalone basis, as compared to Rs.174.98 crores for the Financial Year 2011-2012; the profit was down by 2.84% to Rs. 14.83 crores and EPS was down by 2.86% to Rs. 8.84 as compared to the previous year. The main reason for the mixed performance during this year was due to increased competition as there was pressure on contractual rates due to increased competition. I wish to inform you that the management is aware of the market situation and is taking adequate measures to tide over the current difficult phase and also to improve its competitive edge in market place. The Order Book position of your Company stands at Rs.116 crores, as on March 31, 2013. ONGC is likely to come up with Rs.3000 crores worth of tenders on Brownfield projects in the ensuing seasons where your Company has built up considerable strength over the years. Your wholly owned subsidiary''s vessel, i.e. Beas Dolphin was on a long term charter with McDermott in the Middle East till 21st May 2013 and we are presently in negotiations with some prospective Clients for its further deployment. The Barge, VIKRANT DOLPHIN is on long term charter with M/s. Representaciones Y Distribuciones Evya SA de CV, 2 (Evya), Mexico. These developments and other measures that your Board of Directors have taken, gives me confidence that your Company will be in a position to wither the intense competition that this industry is going through. As you are aware, your Company places a lot of emphasis on HSE and is accredited with OHSAS 18001-2007 & ISO 14001- 2004. During this year, your Company has successfully and timely completed all BG Campaigns of Season 2012-13 {MTA, C2 & ERD}, with Zero recordable injuries. This was accomplished to the entire satisfaction of the Client. In recognition of this accomplishment, your Company has been awarded BG''s coveted HSSE Trophy. I would like to inform you that at the ensuing Annual General Meeting of the Company, Mr. Arvind K. Parikh and Mr. S. Sundar, Directors of the Company are due to retire by rotation, the Board of Directors at its meeting held on April 29, 2013 recommended their re-appointment. Subsequently, they have intimated to the Company that they are not seeking such re-appointment. Vice Admiral Harisimran Singh Malhi has resigned from the post of Executive Director (Special Projects) w.e.f. November 30, 2012, though he continues to associate with the Company as Non-Executive Director. I express my sincere appreciation of the efficient management and matured advices of Mr. Arvind K Parikh, Mr. S. Sundar and Vice Admiral Harisimran Singh Malhi during their tenure. I would also like to inform you that Mr.Sabyasachi Hajara has been appointed as an Additional Director of the Company w.e.f. June 21, 2013. He was on board of The Shipping Corporation of India Limited since 2005. He retired as a Chairman & Managing Director of The Shipping Corporation of India Limited w.e.f. January 01, 2013. Keeping in view of his vast experience and expertise in the shipping business, your Companywill immensely be benefitted from his appointment. I would like to re-iterate our strong commitment to good corporate governance. We are continuously striving to improve the quality of our disclosures. Members would have observed that the contents of our Annual Reports over the past few years contain more information about the company and its working. Our employees constitute our biggest asset and I am sure that their continued employment, improved efficiency and, I hope, prosperity, will enable your Company to face the challenges ahead. The effort of your Company is not only to comply with regulatory requirements but also practice Corporate Governance principles based on integrity, transparency and overall corporate accountability. I am grateful to the Board of Directors for their support and guidance and also to all customers, bankers, financial institutions, Government and regulatory authorities, shareholders and most of all to all the employees for their valuable support and co- operation. I look forward to your continued support, trust and participation in the growth of the Company. With warm regards, Rear Admiral Kirpal Singh Executive Chairman June 21, 2013