Provides oil and gas services focused on offshore support and drilling solutions, as indicated by its industry classification under "Offshore Support Solution Drilling." In FY26, the company earned revenue from operations of Rs 112.46 crore, up from Rs 9,819 lakhs in FY25, representing the 14.5% growth reported in its annual results. Profit after tax rose to Rs 350 lakhs in FY26 from Rs 184 lakhs in FY25, with EBITDA margin expanding to 14.5% from 11.7%. The segment composition of revenue is not broken out in the filings, so the company appears to operate as a single-line oilfield services business serving upstream exploration and drilling customers. It spent Rs 1,929 lakhs on property, plant and equipment in FY26, more than double the Rs 909 lakhs in the prior year, suggesting ongoing investment in drilling/service assets. The cost structure is dominated by other operating expenses (36.6% of revenue) and employee costs (34.6%), with materials at 15.4% and depreciation at 8.6%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Oil and gas services. Asset-heavy, small-cap oilfield services provider with offshore drilling exposure
| ₹ crore · consolidated | FY24 |
|---|---|
| Revenue | 92 |
| EBITDA (ex other income) | 17 |
| margin % | 18.6 |
| Owners' profit | 6 |
| EPS, as reported (₹) | 0.61 |
| ROE % · ROCE % | 10.6 · 15.3 |
| Debt / equity (x) | 0.31 |
| Cash from operations | 10 |
| Capex | 0 |
| ₹ crore | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 |
|---|---|---|---|---|---|
| Revenue | 22 | 31 | 26 | 23 | 23 |
| Profit before tax | 1 | 5 | 2 | 0 | 0 |
| Net profit | 0 | 4 | 1 | 0 | 0 |
| EPS (₹) | 0.04 | 0.35 | 0.12 | 0.01 | 0.03 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| DOLPHIN OFF ENT (IND) L | 2,652 | 36.8 | 7.50 | 31.7 | 19.4 | 10.8 | — | 59.1 |
| JINDAL DRILLING IND. LTD | 1,848 | 9.6 | 1.02 | 5.0 | 11.6 | 11.1 | 20.2 | 40.3 |
| ALPHAGEO (INDIA) LIMITED | 200 | — | 0.79 | — | (5.5) | (7.4) | (4.8) | 27.6 |
| AAKASH EXPLORATION SER L ◆ | 93 | 17.9 | 1.55 | 6.2 | 2.2 | 2.6 | — | 10.7 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 17.9 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · Promoter Navinchandra Haria acquires 7.19% stake via inter se gift transfer from Pravin Haria | ownership changes | medium | — | — |
| 2 Sept 2026 · Newspaper publication for 20th AGM via video conferencing and e-voting info | compliance | minimal | — | — |
| 31 Aug 2026 · AGM on Sep 29, 2026; MD re-appointment and new WTD addition on agenda | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Newspaper ad published for 20th AGM via video conferencing | compliance | minimal | — | — |
| 26 Aug 2026 · Promoter MD re-appointed for 3 years; FY26 Directors' Report approved | management changes | high | — | — |
| 26 Aug 2026 · Promoter Vipul Haria re-appointed as MD for three more years | management changes | high | — | — |
| 21 Aug 2026 · Promoter Navinchandra Haria to acquire 7.19% stake via gift from co-promoter | ownership changes | medium | — | — |
| 13 Aug 2026 · Promoter group entity reclassification request to NSE | ownership changes | medium | — | — |
| 13 Aug 2026 · Newspaper publication of Q4 FY26 financial results submitted to NSE | compliance | minimal | — | — |
| 11 Aug 2026 · Board approves promoter group entity reclassification to public category | ownership changes | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 26.6 |
| 6 of 16 |
| 67% |
| P/B | 1.6 | 2.1 | 7 of 16 | 60% |
| ROCE | 2.6 | 6.4 | 14 of 17 | 19% |
| ROE | 2.2 | 8.5 | 13 of 16 | 20% |
| Debt / Equity | 0.2 | 0.1 | 10 of 16 | 40% |
| EBITDA margin | 10.7 | 28.0 | 13 of 15 | 14% |
| Revenue growth | 7.1 | 45.2 | 15 of 15 | 0% |
| Profit growth | (36.7) | 37.6 | 13 of 16 | 20% |
| Market cap | 93 | 2449 | 15 of 17 | 13% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
