Duke Offshore
CMP: 48.85
Market Cap: 24.08Cr
Book Value: 27.18
PE: 6.30
ROCE: 40.82%
ROCE 3yr Avg. : 43.6%
Profit Growth 3 Years: 47.6%
Profit Growth Last Year : 49.32%
D/E : 0.09
Contingent Liabilities: 0.26 Cr
Promoter Holding: 70.6%
ROE 3 Years: 34.86%
DUKE OFFSHORE LIMITED is headquartered in Mumbai and is managed by a group of oil field and marine professionals.
Specialising 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 (SFPD) has been created to provide offshore patrol vessels to the oil fields and other offshore installations for security and protection.
Starting FY13 Company has increased its focus on the security and protection division. Company has purchased FIC (fast interceptor crafts) for this purpose. The company has also started to focus on defence services and has received contract from ministry of defence for maintenance of 4 vessels. With the Government’s increasing focus on building naval capabilities and management’s liaising capabilities I feel that the company is in a sweet spot to bag more such contracts. The management constitutes of people who have been part of MARCOS (special division of Indian Navy) and have worked closely with US Navy fleets.
Prior to FY 13 company focused mainly on offshore oil field maintenance and drilling support services and faced a threat due to oil price fluctuations as mentioned in ARs of FY11 and FY 12. FY 13 onwards this threat hasn’t been highlighted.
The numbers have also been really good so far. The company is also paying tax at healthy rate and has started paying out dividend. The Management is focused on expansion by purchasing boats and is confident about the growth.
The earnings might be lumpy.
Would like fellow members to pitch in with their views.
Disclosure: Invested & Biased.
| Subscribe To Our Free Newsletter |
