The Board of Directors of Dolphin Offshore Enterprises (India) Limited convened on May 05, 2026, and approved the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. The results were audited by M/s Mahendra N. Shah & Co. (FRN: 105775W), Chartered Accountants, who issued an unmodified opinion on both sets of financial statements. In compliance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026 in Active Times (English) and Lakshadweep (Marathi) editions on Wednesday, May 06, 2026. The intimation was filed with BSE Limited and the National Stock Exchange of India Limited by Company Secretary & Compliance Officer Krena Khamar (Membership No. A62436), and the extracts are also available on the company's website at www.dolphinoffshore.com . The company operates in a single segment — Oil & Gas Offshore Support Services — as per Ind AS 108.

Consolidated Financial Performance

Dolphin Offshore Enterprises delivered a strong consolidated performance for FY26. On a year-on-year basis, Q4 FY26 consolidated net profit rose sharply to Rs. 2,832.69 lakhs from Rs. 1,044.78 lakhs in Q4 FY25, while Q4 revenue from operations surged to Rs. 4,535.57 lakhs compared to Rs. 2,044.42 lakhs in the same period last year. For the full year, consolidated revenue from operations grew to Rs. 11,642.04 lakhs from Rs. 7,401.92 lakhs in the previous year, and consolidated net profit increased to Rs. 6,853.79 lakhs from Rs. 4,647.95 lakhs. The following table summarises the consolidated financial results:

Consolidated total assets as at March 31, 2026 stood at Rs. 60,768.71 lakhs, compared to Rs. 46,119.25 lakhs as at March 31, 2025. Total equity (including other equity of Rs. 34,942.74 lakhs) amounted to Rs. 35,342.79 lakhs. Non-current borrowings increased to Rs. 20,320.76 lakhs from Rs. 16,475.25 lakhs in the prior year. Net cash flow from operating activities for the consolidated entity was Rs. 4,534.18 lakhs for FY26, against Rs. 1,046.99 lakhs in FY25.

Standalone Financial Performance

On a standalone basis, Dolphin Offshore Enterprises reported a net profit of Rs. 3,753.55 lakhs for FY26, a significant improvement from Rs. 324.16 lakhs in FY25. Standalone revenue from operations for FY26 was Rs. 1,173.25 lakhs, compared to Rs. 1,488.48 lakhs in the prior year, while total income rose to Rs. 3,979.00 lakhs from Rs. 2,077.97 lakhs. The following table presents the standalone financial results:

Standalone total assets as at March 31, 2026 stood at Rs. 39,326.91 lakhs, compared to Rs. 20,562.60 lakhs as at March 31, 2025. Other equity on a standalone basis was Rs. 18,605.26 lakhs. Standalone net cash flow from operating activities for FY26 was Rs. 631.75 lakhs, against Rs. 100.87 lakhs in FY25.

Key Accounting Notes and Auditor Emphasis of Matter

The auditors drew attention to two specific matters in both the standalone and consolidated reports, though their opinions were not modified in respect of these:

• Deferred Tax Assets: The company recognised additional deferred tax assets of Rs. 1,397.08 lakhs for the quarter ended March 31, 2026 and Rs. 1,065.49 lakhs for the full year ended March 31, 2026, on approved carried forward losses and unabsorbed depreciation of previous years, based on management's assessment of future taxable profit, in accordance with Ind AS 12.
• Expected Credit Loss (ECL) Provision: Based on a detailed evaluation of the ageing and recoverability of trade receivables, the management recognised an ECL provision of Rs. 401.75 lakhs (standalone) and Rs. 904.95 lakhs (consolidated) for the quarter and year ended March 31, 2026.

Additionally, the company incorporated a wholly owned subsidiary, Beluga International (IFSC) Private Limited, with a certificate of incorporation received on March 9, 2026. As at March 31, 2026, IFSC approval remains pending and no paid-up capital has been infused. During the year, Beluga International DMCC, another wholly owned subsidiary, made an additional preference share investment of USD 0.37 million in HF Hunter Shipping Pte. Ltd., following a USD 2.2 million investment made in the previous year.

Corporate Developments

At the same board meeting, the company re-appointed M/s. Manubhai & Shah LLP (Firm Registration No. 106041W/W100136) as Internal Auditor for the financial year 2026-27. The firm, established in Ahmedabad in 1945, holds ISO 9001 certification for Quality Management Systems and ISO 27001 certification for Information Security Management Systems, and its audit services are reviewed by peer reviewers appointed by the Institute of Chartered Accountants of India. The Board meeting commenced at 12:00 Noon and concluded at 01:50 p.m. on May 05, 2026. The statutory auditors, M/s Mahendra N. Shah & Co., issued a declaration confirming an unmodified audit opinion on both the standalone and consolidated audited financial results for the quarter and financial year ended March 31, 2026, in compliance with Regulation 33(3)(d) of SEBI (LODR) Regulations, 2015. The financial results published in the newspapers on May 06, 2026 were signed on behalf of the Board of Directors by Managing Director Rupesh K Savla (DIN: 00126303).

Source: None/Company/INE920A01037/36c57621cd694431.pdf

Dolphin offshore Enterprises (India) Limited has formally communicated to stock exchanges that it does not qualify as a Large Corporate entity under the regulatory framework established by SEBI. The company made this declaration through an official filing dated April 30, 2026, addressing both BSE and NSE regarding its corporate classification status.

Regulatory Compliance Declaration

The company's confirmation relates to SEBI Operational Circular No. SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023, which pertains to fund raising by issuance of debt securities by large corporates. Dolphin Offshore Enterprises has explicitly stated that it does not fall under the Large Corporate category as on March 31, 2026, as defined under the aforementioned SEBI circular.

Key Filing Details

Authorized Signatories

The formal communication was digitally signed by two key officials of the company. Company Secretary and Compliance Officer Krena Khamar, holding membership number A62436, signed the document on April 30, 2026 at 14:30:56. Chief Financial Officer Divyesh Umeshkumar Shah also digitally signed the communication on the same date at 14:31:24.

Corporate Information

Dolphin Offshore Enterprises (India) Limited is headquartered at May Fair, A-11, Second Floor, New Fair Co-operative Housing Society Ltd., 26, S. V. Road, Bandra (West), Mumbai 400050. The company maintains its stock exchange presence with scrip code 522261 on BSE and symbol DOLPHIN on NSE.

Regulatory Framework Context

The SEBI circular referenced in the filing establishes specific criteria for Large Corporate classification, particularly in relation to debt securities issuance. Companies are required to confirm their status under this framework to ensure proper regulatory compliance and maintain transparency with stock exchanges and investors regarding their corporate classification.