DUKE OFFSHORE

Duke Offshore, an oil equipment and services company had hit a new 52-week high yesterday on the back of its good performance for Q3FY17 and receipt of a new order. The order was for its high speed crew boat Duke Command, to operate on the west coast of India to support specialized operations to the Indian arm of an MNC.

On the performance front, the company posted a 6% (YoY) rise in net sales at Rs.2.5 crore and net profit came in at Rs.1.7 crore, up 57%. Its expenses were down 33% and this trickled down to the EBITDA, up 50% at Rs.2 crore while margins rose from 56% to 80%.

The company has a tiny equity at Rs.4.93 crore and annualized EPS is at Rs.4 (FV of Rs.10). Reserve is at a healthy Rs.9 crore and remains debt free. Promoters stake at end of Q3 stood at 70.61%.