Multibagger stock hits 5% upper circuit after FIIs bought stake worth over ₹37 Cr via bulk deal

The shares of the leading underwater services provider hit a 5 percent upper circuit after foreign institutional investors bought 18,28,590 equity shares via a bulk deal.

Price movement

With a market capitalization of Rs 906.50 crore, the shares of Dolphin Offshore Enterprises Ltd. were trading at Rs 226.60 per share, increasing around 4.98 percent as compared to the previous closing price of Rs 215.85 apiece.

Reason for rise

The shares of the company have seen positive movement after foreign institutional investors, Unico Global Opportunities Fund limited & Ebisu Global Opportunities Fund bought 18.28 lakhs equity shares via a bulk deal at an average price of Rs 204.30 apiece. 

However, Aries Opportunities Fund Limited and Elara India Opportunities Fund Limited, an FII, exited by selling 46.28 lakh equity shares together via bulk deal, which is equivalent to 12.82 percent in the company.

Financial performance 

Looking into the company’s financial condition, revenue zoomed by 64 percent from Rs 17 crore in Q2FY25 to 28 crore in Q3FY25. During the same time frame, net profits magnified by 23 percent from Rs 13 crore to Rs 16 crore.

Also read: PSU stock to keep on your radar as it expects 20% increase in its current order book of ₹15,139 Cr

Financial Metric

In the return ratios, the return on equity (RoE) in FY24 stood at around 2.51 percent, and the return on capital employed was around (0.17) percent. The debt-to-equity ratio stood around 0.00 as of FY24.

Shareholding pattern

In the company’s recent shareholding pattern, the Promoters of the company own 74.99 percent while Retail shareholders own a 10.59 percent stake in the company and domestic Institutional Investors own a 1.60 percent stake.

Company Overview

Dolphin Offshore Enterprises (India) Limited is an India-based company, which is a provider of underwater services to the Indian oil and gas industry. It has developed a diversified portfolio for undertaking turnkey projects involving sub-sea and marine services and as an EPC contractor.

Written by Abhishek Singh

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