MUMBAI: In the last five days, the stock price of Dolphin Offshore has risen by 14%. The average volumes stand at 5.4 lakh vs 10000. The stock is currently trading at Rs 449.00, up 2.17% on the BSE.

Price delivery action

Stock price inched up 14% in last 5 days
Average volumes at 5.4l akh vs. 10000 in last 5 days
Delivery QTY at 1lakh vs. 8000

Capex plan

Currently setting up fabrication shipyard in Gujarat
Estimated cost of Gujarat shipyard around Rs 450 cr
Submitted bids for 2 tenders of ONGC worth $600 mn via JV
Also in the process of submitting 2 additional bids worth $400 mn for ONGC tenders

Order book status

Order book, as on Sep 30, 2009, stands at Rs 640 cr
Orders to be executed over the next six months
Likely to bag sub contracting orders from L&T and Punj Lloyd

Operational performance

80% of revenues contributed by direct contracts
Consolidated cash balance of Rs 26.4 cr
No settlement has been reached with L&T for disputed amount of Rs 47.9 cr
Addition of three vessels would increase order bidding capability
No plans for fund raising

FCCB conversion

Recently converted $2.84mn worth FCCBs at a premium of Rs151
$3.6 mn worth FCCBs still to be converted
FCCB conversion is likely to reduce debt and increase equity
Analysts expect FCCB conversion likely to improve margins by 200‐bps in FY11
Issued FCCBs worth $15mn in Dec05