Dolphin Offshore Enterprises (India) Ltd (Oil Drilling & Exploration) — fundamental analysis, earnings data, and key metrics. PE: 31.1. ROE: 18.7%. This stock is not currently in the Nifty 500 momentum outperformers list.
Based on Q3 FY26 earnings • Updated Feb 22, 2026
What: New contracts adding $100M revenue backlog with immediate revenue recognition potential
Impact: +₹17 Cr revenue
“Q3 FY26 results announcement: 'The company signed a contract adding USD 60 million in revenue backlog for the Borgland Dolphin with Repsol SA as well as contract extension adding USD 40 million for the Blackford Dolphin with Oil India'”
What: 5-year rig survey completed within budget enabling higher uptime
Impact: +₹3 Cr revenue
“Q3 FY26 results: 'In September 2025, Paul B. Loyd, Jr ("PBLJ") completed its 5-year rig survey within the capex budget of USD 30 million'”
What: PBLJ at 98.3% uptime and Blackford Dolphin at 89.8% average utilization
Impact: +₹2 Cr revenue
“Q3 FY26 results: 'Q3 Rig Utilization: PBLJ had rig uptime of 98.3% (on contract for 30 days due to the planned rig survey). Blackford Dolphin on contract for the full quarter at an average of 89.8%.'”
Earnings deceleration risks from management commentary
Trigger: Continued competitive intensity in offshore drilling
Impact: -600 bps margin impact
Management view: Not explicitly addressed in available materials
Monitor: OPM trend, new contract pricing
Trigger: Extended payment cycles from clients
Impact: -200 bps margin impact
Management view: Not explicitly addressed in available materials
Monitor: Debtor days, cash conversion cycle
Key quotes from recent conference calls
“In September 2025, Paul B. Loyd, Jr ("PBLJ") completed its 5-year rig survey within the capex budget of USD 30 million — Management”
“The company signed a contract adding USD 60 million in revenue backlog for the Borgland Dolphin with Repsol SA as well as contract extension adding USD 40 million for the Blackford Dolphin with Oil India — Management”
Forward-looking targets from management for next 2-4 quarters
Key Milestones
• Full revenue recognition from $100M contracts
• Sustained high rig utilization rates
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Feb 22, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Dolphin Offshore Enterprises (India) Ltd's latest quarterly results (Dec 2025) show
Dolphin Offshore Enterprises (India) Ltd's current PE ratio is 31.1x.
Dolphin Offshore Enterprises (India) Ltd's price-to-book ratio is 5.2x.
Dolphin Offshore Enterprises (India) Ltd's fundamental strength based on key financial ratios
Dolphin Offshore Enterprises (India) Ltd has a debt-to-equity ratio of N/A.
Dolphin Offshore Enterprises (India) Ltd's return ratios over recent years
Dolphin Offshore Enterprises (India) Ltd's operating cash flow is positive (FY2025).
Dolphin Offshore Enterprises (India) Ltd currently does not pay a significant dividend (yield 0.00%).
Dolphin Offshore Enterprises (India) Ltd's shareholding pattern (Dec 2025)
Dolphin Offshore Enterprises (India) Ltd's promoter holding has remained stable recently.
Dolphin Offshore Enterprises (India) Ltd is an established outperformer with 1 weeks of consecutive Nifty 500 outperformance.
Dolphin Offshore Enterprises (India) Ltd has 3 key growth catalysts identified from recent earnings analysis
Dolphin Offshore Enterprises (India) Ltd has 2 key risks worth monitoring
In Q3 FY26, Dolphin Offshore Enterprises (India) Ltd's management highlighted
Dolphin Offshore Enterprises (India) Ltd's management has provided the following forward guidance for next 2-4 quarters
Based on quantitative research signals, here is why Dolphin Offshore Enterprises (India) Ltd may be worth studying
Dolphin Offshore Enterprises (India) Ltd investment thesis summary:
Dolphin Offshore Enterprises (India) Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
