585% Gain YTD: Multibagger Energy Stock Hits 52W-High On Stock Split Buzz

In the energy industry, Dolphin Offshore Enterprises (India) is a small-cap company. After launching its initial public offering in 1994, the company is currently traded on the National and Bombay Stock Exchanges. It serves the Indian oil and gas sector by offering underwater services. On Wednesday, the shares of Dolphin Offshore Enterprises (India) ended at a fresh 52-week-high at Rs 782.10 after the company declared the Board of Directors of the Company is scheduled to be held on Thursday, December 07, 2023 to consider stock split.

"With reference to captioned subject, we wish to inform you that, the meeting of the Board of Directors of the Company is scheduled to be held on Thursday, December 07, 2023 to transact the following business: 1. To consider and approve the proposal to Sub- Division /Split of the Equity Shares of the Company in such manner as may be determined by the Board of Directors and subject to approval of the Shareholders and such authorities as may be required," said Dolphin Offshore Enterprises (India) in a stock exchange filing.

The company reported a net income of Rs 5.44 Cr in the September 2023 quarter up from Rs 0.69 Cr in the June 2023 quarter. Its net expenses stood at Rs 1.56 Cr in Q2FY24 compared to Rs 0.18 Cr in Q1FY24. Dolphin Offshore Enterprises (India) booked an EBIT of Rs 3.88 Cr during the quarter under review as against Rs 0.52 Cr in the previous quarter. The company said in a regulatory filing that its net profit reached Rs 3.53 Cr in Q2FY24 compared to Rs 0.13 Cr in Q1FY24.

The shares of Dolphin Offshore Enterprises (India) delivered a multibagger return of 583.27% in 1 year. During Q3FY24, the company recorded promoters shareholding of 74.99%, FIIs stake of 21.05%, DIIs stake of 1.58%, and public stake of 2.38%.