Dolphin Offshore Enterprises hits the roof after strong Q2 results

Dolphin Offshore Enterprises (India) surged 20% to hit the upper circuit at Rs 439.20 after the company reported a solid performance for the quarter ended September 2025.

The company?s net sales jumped 47.2% year-on-year to Rs 24.62 crore in Q2 FY26 from Rs 16.73 crore in Q2 FY25. Sequentially, revenue was up 49.8% from Rs 16.44 crore in Q1 FY26.

The company reported a profit after tax (PAT) of Rs 15.61 crore for Q2 FY26, up 20.8% YoY from Rs 12.92 crore in Q2 FY25, and 37.8% higher sequentially from Rs 11.33 crore in Q1 FY26.

Profit before tax (PBT) surged 47.7% YoY to Rs 18.98 crore, compared with Rs 12.85 crore in Q2 FY25, and increased 75.6% sequentially from Rs 10.81 crore in Q1 FY26.

Total expenditure fell 35.3% YoY to Rs 2.62 crore, compared with Rs 4.05 crore in the year-ago period. Cost of material consumed fell 73.73% YoY to Rs 0.88 crore while employee expenses rose 14.29% YoY to Rs 0.08 crore in Q2 FY26.

Interest expenses spiked to Rs 3.3 crore from just Rs 0.05 crore a year ago, while depreciation rose sharply to Rs 3.77 crore from Rs 0.07 crore in Q2 FY25.

Net cash flow from operating activities stood at Rs 33.65 crore in H1 FY26, compared with a negative cash flow of Rs 2.38 crore in H1 FY25.

Dolphin Offshore Enterprises (India) is an offshore services company. It offers specialized underwater solutions including air, mixed gas, and saturation diving for offshore construction, maintenance, and repair.

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