Thursday, March 22, 2012

DOLPHIN OFFSHORE ENTERPRISES (INDIA) LTD. - BUY












Dolphin Offshore Enterprises is a niche company in offshore oil exploration services.Company is providing under water services to oil exploration companies .Their work includes  Under water construction services entailing modification and redevelopment of existing offshore facilities,Pre-engineering surveys,Diving support for pipe laying, including pipe line stabilization,Inspection, maintenance and repairs of platforms,Installation and replacement of tie-ins, risers and conductors,Underwater ship repair and maintenance Rig support Diving services including UWILD surveys,Inspection required for various certifying bodies such as ABS, DNV and USCG certifications ROV services ..etc.There are very few companies are operating in India in this field. Company’s performance was very good till few years back.But its  turnover and margin declined along with the decline of oil prices in last few years.When there is a crash in oil prices , exploration companies cut their budgets  and  postponed many  projects.Such a situation reduces the opportunities in this field and many foreign companies submit their bids at very lower rate to capture the available minimum opportunities. Because of this reason Dolphin didn’t get any major contracts for the past  few quarters.Now with the rising trend in oil prices,situation is again improving and it is expected to gain the momentum going forward.Recently company received a contract from ONGC worth Rs.270 Cr  to be completed in 15months.It is expected to add further orders going forward with improving oil prices.Management of this company is an investor friendly one and issued  bonus shares twice in last 5 years.In recent times promoters are aggressively bought shares from open market which is another positive  point to note.At CMP of Rs.84/- one may consider it for long term.

8 comments :

  1. Do you track Mercator ltd it is also in Oil exploration services.

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  2. sir, what's your view on NMDC and BHEL at current price level... please suggest with your valuable opinion

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  3. Sir,

    Thanks for your valuble suggestions on ivestments for small investors. I would like to know the comarision of Dolphin offshore with Jindal drilling. I brought jindal at 345 and now CMP is 300. Shall i exit or hold it.
    thanks,M Phani.

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  4. Sir
    Can you comment on the following announcement of your recommonded ANJANI PORTLAND
    : Anjani Portland Cement Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 31, 2012, to consider and approve the proposal for dis-investment in M/s. Vennar Ceramics Ltd., a 100% subsidiary of the Company.

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  5. dear sir,
    looking at dolphin offshore recommended in march 2012 ,should i accumulate it now...
    thanks mukesh

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  6. Dear value pick ji,
    Can u track amtek india ltd and can I buy on current level ?

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  7. Sir-
    I have tech Mahindra, IFCI, DCB Bank, Pratibha ind ( bought at 57), SKS Micro ( bought at 354),Gabirel ( Bought at 90), Edeliess( Bought at 60). I have last 4 at lower than the Value bought. Please suggest if I can hold them or exit. And pl suggest if I can buy anything?

    ReplyDelete

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