BSE: 531471 | NSE: | Oil Exploration | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Duke Offshore Ltd is a below average quality company.
The key valuation ratios of Duke Offshore Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Duke Offshore Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 39% | 29.7% | 10.2% | 6.8% | 7.5% | -16.8% | -18.3% | -43.4% | -19.3% | 5.8% | - |
| Value Creation Index ⓘ | 1.8 | 1.1 | -0.3 | -0.5 | -0.5 | -2.2 | -2.3 | -4.1 | -2.4 | -0.6 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 9.3 | 9.8 | 6.8 | 9.1 | 9.3 | 4.3 | 1.7 | 1.5 | 2.8 | 4.1 | 2 |
| Sales YoY Gr. | - | 5.5% | -30.9% | 34.6% | 1.5% | -54% | -60.8% | -12.6% | 90.4% | 48.9% | - |
| Adj EPS ⓘ | 2.2 | 2.4 | 1.2 | -0.2 | 0.5 | -1.3 | -2 | -4.2 | -0.5 | 1.3 | -0.2 |
| YoY Gr. | - | 10.7% | -51.9% | -119.1% | NA | -344.4% | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | 11.4 | 13.7 | 15.5 | 14.6 | 15.2 | 12.5 | 10.5 | 6.3 | 5.9 | 7.1 | 6.2 |
| Adj Net Profit ⓘ | 2.1 | 2.4 | 1.1 | -0.2 | 0.5 | -1.3 | -2 | -4.1 | -0.5 | 1.2 | 0 |
| Cash Flow from Ops. ⓘ | 5.2 | 4.7 | 2.3 | 3.6 | 3.4 | 0.9 | -0.4 | -2.3 | 0.1 | 0.9 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 4.1 | 2.8 | 2.4 | 0.8 | -1.6 | -0.2 | 2.8 | 0.2 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -8.6% | -14.9% | 35.3% | 48.9% | ||||
| Adj EPS ⓘ | -5.8% | 18.5% | NA | NA | ||||
| BVPSⓘ | -5.1% | -14.1% | -12.1% | 21.5% | ||||
| Share Price | 4.7% | 9.1% | 12.7% | 74.9% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 21 | 19 | 7.8 | -1.4 | 3.6 | -9.5 | -17.3 | -49.3 | -7.4 | 19.2 | -3.4 |
| Op. Profit Mgn % ⓘ | 46.5 | 44.1 | 44.1 | 37.9 | 40.5 | 12 | -64.9 | -142.6 | -15.1 | 29.1 | 15.4 |
| Net Profit Mgn % ⓘ | 23 | 24.1 | 16.7 | -2.3 | 5.8 | -30.6 | -118.1 | -281.7 | -16.1 | 30 | -9.8 |
| Debt to Equity ⓘ | 0 | 0 | 0.6 | 0.7 | 0.6 | 0.1 | 0.1 | 0.1 | 0.1 | 0 | 0 |
| Working Cap Days ⓘ | 127 | 190 | 266 | 199 | 150 | 200 | 347 | 320 | 224 | 140 | 632 |
| Cash Conv. Cycle ⓘ | 42 | 99 | 138 | 80 | 47 | 39 | 52 | 117 | 89 | 67 | 528 |
Sales growth is growing at healthy rate in last 3 years 35.34%
Return on Equity is Poor
Sales growth is not so good in last 4 quarters at -22.55%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -0.2 | - |
| TTM Sales (₹ Cr.) | 2.3 | - |
| BVPS (₹.) ⓘ | 6.2 | - |
| Reserves (₹ Cr.) ⓘ | -4 | - |
| P/BV ⓘ | 3.19 | - |
| PE ⓘ | 0.00 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 9.77 / 33.40 |
| All Time Low / High (₹) | 0.62 / 85.50 |
| Market Cap (₹ Cr.) | 19.6 |
| Equity (₹ Cr.) | 9.9 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 8.1 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 9.28 | 9.79 | 6.77 | 9.11 | 9.25 | 4.26 | 1.67 | 1.46 | 2.78 | 4.14 |
| Operating Expenses ⓘ | 4.96 | 5.47 | 3.78 | 5.66 | 5.50 | 5.73 | 2.75 | 3.54 | 3.20 | 2.93 |
| Manufacturing Costs | 2.89 | 3.89 | 2.02 | 3.39 | 2.95 | 1.81 | 0.89 | 2.02 | 1.29 | 0.59 |
| Material Costs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Employee Cost | 0.41 | 0.67 | 1.03 | 1.73 | 1.23 | 1.36 | 1.13 | 0.86 | 1.29 | 1.39 |
| Other Costs ⓘ | 1.67 | 0.91 | 0.73 | 0.54 | 1.32 | 2.55 | 0.74 | 0.66 | 0.62 | 0.96 |
| Operating Profit ⓘ | 4.32 | 4.31 | 2.99 | 3.45 | 3.75 | -1.47 | -1.08 | -2.08 | -0.42 | 1.20 |
| Operating Profit Margin (%) | 46.5% | 44.1% | 44.1% | 37.9% | 40.5% | -34.5% | -64.9% | -142.0% | -15.1% | 29.1% |
| Other Income ⓘ | 0 | 0.16 | 0.13 | 0.05 | 0.07 | 0.17 | 0.24 | 0.05 | 0.07 | 0.01 |
| Interest ⓘ | 0.15 | 0 | 0.33 | 0.98 | 1.10 | 0.93 | 0.06 | 0.05 | 0.03 | 0.02 |
| Depreciation ⓘ | 0.74 | 0.77 | 1.15 | 1.81 | 2.01 | 1.76 | 1.37 | 1.82 | 0.89 | 0.82 |
| Exceptional Items ⓘ | 0.54 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 3.97 | 3.69 | 1.63 | 0.71 | 0.70 | -3.98 | -2.27 | -3.91 | -1.28 | 0.37 |
| Tax ⓘ | 1.46 | 1.25 | 0.50 | 0.92 | 0.14 | -1.30 | -0.30 | 0.20 | -0.83 | -0.87 |
| Profit After Tax | 2.51 | 2.44 | 1.13 | -0.21 | 0.57 | -2.69 | -1.97 | -4.11 | -0.45 | 1.24 |
| PAT Margin (%) | 27.0% | 24.9% | 16.7% | -2.4% | 6.1% | -63.1% | -118.0% | -281.0% | -16.1% | 30.0% |
| Adjusted EPS (₹) | 2.6 | 2.5 | 1.2 | -0.2 | 0.6 | -2.7 | -2.0 | -4.2 | -0.5 | 1.3 |
| Dividend Payout Ratio (%) | 10% | 5% | 44% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 11.28 | 13.57 | 15.29 | 14.48 | 15.05 | 12.36 | 10.39 | 6.28 | 5.83 | 7.08 |
| Share Capital ⓘ | 4.98 | 4.98 | 4.98 | 4.98 | 9.91 | 9.91 | 9.91 | 9.91 | 9.91 | 9.91 |
| Reserves ⓘ | 6.31 | 8.60 | 10.31 | 9.50 | 5.14 | 2.45 | 0.48 | -3.62 | -4.07 | -2.83 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 0 | 0 | 9.55 | 10.18 | 8.34 | 0.73 | 0.60 | 0.31 | 0.17 | 0 |
| Long Term Debt | 0 | 0 | 8.60 | 8.20 | 6.26 | 0.60 | 0.47 | 0.31 | 0.17 | 0 |
| Short Term Debt | 0 | 0 | 0.96 | 1.98 | 2.07 | 0.12 | 0.13 | 0 | 0 | 0 |
| Trade Payables | 0.13 | 0.07 | 0.46 | 0.30 | 0.43 | 0.40 | 0.33 | 0.26 | 0.28 | 0.11 |
| Others Liabilities ⓘ | 1.94 | 3.36 | 2.61 | 4.13 | 2.37 | 1.14 | 0.36 | 0.25 | 0.14 | -1.37 |
| Total Liabilities ⓘ | 13.35 | 17 | 27.90 | 29.10 | 26.18 | 14.63 | 11.69 | 7.11 | 6.42 | 5.82 |
Fixed Assets | ||||||||||
| Gross Block | 11.89 | 11.97 | 26.28 | 30.32 | 29.73 | 15.76 | 15.93 | 16.41 | 16.65 | 16.98 |
| Accumulated Depreciation | 3.75 | 4.46 | 4.90 | 6.63 | 8.15 | 8.13 | 9.50 | 11.32 | 12.21 | 13.03 |
| Net Fixed Assetsⓘ | 8.14 | 7.52 | 21.38 | 23.69 | 21.59 | 7.63 | 6.43 | 5.10 | 4.45 | 3.96 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0.89 | 0.86 | 0 | 0 | 0 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 0.15 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Receivables | 2.17 | 3.32 | 2.62 | 2.35 | 1.11 | 0.51 | 0.32 | 0.80 | 0.99 | 1.08 |
| Cash Equivalents | 0.12 | 4.41 | 1.72 | 0.30 | 2.10 | 3.92 | 3.40 | 0.44 | 0.14 | 0.52 |
| Others Assetsⓘ | 2.76 | 1.75 | 2.18 | 2.76 | 1.38 | 1.66 | 0.67 | 0.77 | 0.86 | 0.25 |
| Total Assets ⓘ | 13.35 | 17 | 27.90 | 29.10 | 26.18 | 14.63 | 11.69 | 7.11 | 6.42 | 5.82 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 5.23 | 4.66 | 2.33 | 3.60 | 3.42 | 0.94 | -0.39 | -2.32 | 0.12 | 0.90 |
| PBT ⓘ | 3.43 | 3.69 | 1.63 | 0.71 | 0.70 | -3.98 | -2.27 | -3.91 | -1.28 | 0.37 |
| Adjustment ⓘ | 0.88 | 0.73 | 1.60 | 2.87 | 2.83 | 4.60 | 1.24 | 2.69 | 0.94 | 0.84 |
| Changes in Working Capital ⓘ | 1.53 | 1.57 | -0.41 | 0.48 | 0.36 | 0.14 | 0.18 | -1.08 | 0.48 | -0.33 |
| Tax Paid ⓘ | -0.62 | -1.34 | -0.48 | -0.47 | -0.47 | 0.19 | 0.46 | -0.02 | -0.02 | 0.02 |
| Cash Flow From Investing Activity ⓘ | -4.33 | -0.11 | -14.21 | -4.08 | 1.33 | 9.41 | 0.05 | -0.45 | -0.24 | -0.33 |
| Capex | -4.33 | -0.15 | -14.30 | -4.13 | 0.14 | 10.21 | -0.17 | -0.48 | -0.24 | -0.33 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0.04 | 0.09 | 0.04 | 1.19 | -0.80 | 0.21 | 0.03 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | -0.98 | -0.26 | 9.19 | -0.94 | -2.95 | -8.53 | -0.18 | -0.19 | -0.18 | -0.18 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -0.15 | 0 | -0.33 | -0.98 | -1.10 | -0.93 | -0.06 | -0.05 | -0.03 | -0.02 |
| Dividend Paid ⓘ | 0 | -0.26 | -0.03 | -0.59 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -0.83 | 0 | 9.55 | 0.63 | -1.85 | -7.61 | -0.12 | -0.13 | -0.15 | -0.16 |
| Net Cash Flow ⓘ | -0.08 | 4.29 | -2.68 | -1.42 | 1.80 | 1.82 | -0.52 | -2.96 | -0.30 | 0.39 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 24.81 | 19.7 | 7.86 | -1.44 | 3.85 | -19.68 | -17.38 | -49.56 | -7.47 | 19.34 |
| ROCE (%) | 38.98 | 29.73 | 10.22 | 6.8 | 7.5 | -16.76 | -18.33 | -43.42 | -19.3 | 5.84 |
| Asset Turnover Ratio | 0.77 | 0.64 | 0.3 | 0.32 | 0.33 | 0.21 | 0.13 | 0.16 | 0.41 | 0.68 |
| PAT to CFO Conversion(x) | 2.08 | 1.91 | 2.06 | N/A | 6 | N/A | N/A | N/A | N/A | 0.73 | Working Capital Days |
| Receivable Days | 53 | 103 | 160 | 100 | 68 | 70 | 91 | 140 | 117 | 91 |
| Inventory Days | 6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Duke Offshore Limited was incorporated in the year 1985. The company is headquartered in Mumbai, India and is managed by a dynamic group of oil field and marine professionals. The company’s Engineering Division has dedicated teams of engineers and support staff who are specialised in hook up and commissioning of offshore oil field platforms, their maintenance, modification and inspection services.The Diving Division provides a dedicated underwater platform inspection, maintenance and repair (IMR) program for oil companies. In addition diving services are provided for drill rig support, SBM and SPM installation, operations and maintenance. The Offshore vessel and Marine Management Division provides offshore support vessels like supply vessels, crew boats and hook up/ accommodation barges globally. The Special Force Protection Division has been created to provide offshore patrol vessels to the oilfields and other offshore installations for security and protection. Duke Offshore Limited is a 100% debt-free company with an operating cash reserve. The company‘s shares are listed on the Bombay Stock Exchange and the principle shareholders are the original promoters. Duke Offshore has a distinguished track record of completing the most difficult offshore projects within time bound schedules and ensuring the highest international quality standards, with an even higher safety record. Its engineering division has the distinction of completing the entire hook up and commissioning of nine offshore well head platforms within a short period of six months. These platforms are still in operation today.The diving division has carried out underwater inspection, maintenance and repair of over 200 process and well head platforms. Nearly all the diving has been carried out in saturation mode from dynamically positioned vessels.
Services Offered:
1) Hook-up & Commissioning of offshore platforms: Teams of engineers and support staff take over when the installation contractors leave. The company undertakes the intricate work of hooking up and commissioning of the various systems on the offshore platforms to carry out the interconnections of the process systems, the electrical and instrumentation systems, structural modifications and structural fabrication, piping including special alloys and hydro testing, mechanical equipment installation, fire fighting, shut down systems and test systems, accommodation and associated services. Duke Offshore has a track record of completing every hook-up project ahead of schedule, always maintaining the highest quality and safety standards.
2) Platform maintenance, repair & modifications: Teams of engineers and support staff carry out offshore platform maintenance and repair work on a continuous bases.
3) Inspection Services: Keeping in view the company's specialisation in hook-up and commissioning, several clients have requirements for inspection services for monitoring the work in progress on offshore platforms, for inspection of installation work, for load out of structures and equipment and sea fastening them on the barges. Duke Offshore has over 25 engineers specialised in inspection services.
4) Structural fabrication and process piping: Having specialised in offshore platform structural work and process piping, the company has carried out similar work for refineries including revamping and shut down maintenance projects. Some of the structures fabricated include large structures like RCO furnaces, all piping work for the ethylene II plant at a Greenfield refinery project.
5) Diving Services: Air and saturation divers are working for inspection, Maintenance & repair (IMR) of subsea structures, maintenance and operations of SBMs and SPMs, rig diving support and ship’s hull cleaning and repair.
6) Marine Management and DP vessel operations & management: Its Marine Division provides management and operations of offshore support vessels, offshore barges and DP vessels including DP II operations on MSVs and DSVs for diving operations.
7) Force Protection Services: With the increase of risks associated with terrorist attacks worldwide, the company has set up a division to provide force protection services to offshore structures, offshore process complexes and coastal installations.
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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