Dolphin offshore Enterprises (India) Limited has announced key board decisions following a meeting held on March 12, 2026. The primary development involves the appointment of a new independent director and approval of postal ballot proceedings, as communicated to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015.

Board Approves New Independent Director Appointment

The board of directors approved the appointment of Mr. Vinit Rameshchandra Mundra (DIN: 11597227) as Additional Non-Executive Independent Director. This appointment was made based on the recommendation of the Nomination and Remuneration Committee and is subject to shareholder approval.

Professional Background and Qualifications

Mr. Mundra brings substantial professional credentials to the board. He is a Chartered Accountant, qualified in 2008, and also completed Cost Accountant Inter in 2007. His professional journey spans 18 years across both service and manufacturing sectors.

Currently, he is associated with Control Plus Oil & Gas Solution Pvt. Ltd. His previous experience includes contributions to reputed organizations such as Torrent Gas Pvt. Ltd., Hyfun Foods, and Chiripal Industry. His core competencies encompass finance and accounts, banking, and costing, with a proven track record of aligning financial strategies to organizational growth.

Regulatory Compliance and Declarations

The appointment meets all regulatory requirements under the Companies Act 2013. Mr. Mundra is not disqualified from being appointed as Additional Director under Section 164 of the Companies Act 2013 and has provided his consent to act in this capacity.

As required under BSE circular LIST/COMP/14/2018-19 and NSE circular NSE/CML/2018/02, both dated June 20, 2018, he has declared that he is not debarred from holding the office of director by virtue of any SEBI order or any other authority. Additional disclosures have been provided as per SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Additional Board Decisions

The board also approved a postal ballot notice during the meeting. The company stated that necessary disclosures including the postal ballot notice will be intimated in due course.

The board meeting demonstrated efficient conduct of business proceedings, with all necessary regulatory communications sent to both BSE Limited and National Stock Exchange of India Limited as required under listing regulations.

Dolphin Offshore Enterprises (India) has reported its third quarter consolidated financial results, showing a net profit of ₹133 million compared to ₹155 million in the same quarter of the previous year.

Financial Performance Overview

The company's consolidated net profit for the third quarter stood at ₹133 million, reflecting a year-on-year comparison with the corresponding period's performance of ₹155 million.

Year-on-Year Analysis

The quarterly results indicate a decline in consolidated net profit when compared to the same quarter in the previous fiscal year. The company's performance shows the difference between the current quarter's ₹133 million and the prior year's ₹155 million for the same reporting period.

Dolphin Offshore Enterprises (India) operates in the offshore services sector, and these results reflect the company's consolidated financial performance for the third quarter reporting period.