Mumbai, May20 : Asian Energy Services Limited, a leading integrated energy and mining services provider, today reported a strong performance for the quarter and year ended March 31, 2026, with Adj. net profit rising 43.6% year-on-year to ₹60.6 crore, driven by robust execution and improved operational efficiencies.
While growth remained healthy, revenue during the quarter was partially impacted by supply-chain disruptions (West Asia conflict) and client-oriented delays in execution.
Performance Highlights – Q4 & FY26 (₹ in crore)
- Revenue, EBITDA, and PAT showed strong year-on-year growth across both Q4 and FY26.
- FY26 PAT stood at ₹60.6 crore (adjusted for exceptional items of ₹9.4 crore, including one-time acquisition cost of ₹6.7 crore and write-off of ₹2.1 crore net of taxes in Q4 FY26).
- Order book (as on 31st March 2026) on a standalone basis stood at ~₹1,750 crore (excluding Kuiper), providing revenue visibility for coming years.
Key Business Highlights
- Kuiper’s acquisition and consolidation during FY26 materially expanded Asian Energy’s international platform, particularly in the Middle East.
- Oilmax Merger Status: NCLT convened shareholders meeting scheduled in June 2026; merger expected to be completed by September/October 2026, subject to regulatory approvals.
- Advanced execution of the Vedanta integrated field development contract, delivering significant cost savings and setting a precedent for future integrated oilfield opportunities.
- Significant progress in the Indrora Block, with NM-01 well producing ~100 BOPD; target to ramp up to ~1,000 BOPD by FY27 through additional drilling and field development.
- Secured two major projects in FY26: Vedanta integrated field management contract and Lakhanpur CHP Project from MCL.
Management Commentary
Dr. Kapil Garg
“FY26 has been a landmark year for Asian Energy, driven by the Kuiper acquisition and initiation of the Oilmax merger. These developments strengthen our integrated energy platform at a time when West Asia conflict has created supply chain risks and increased energy prices, but also created multiple opportunities.
We secured two substantial projects in FY26, one being the integrated field management contract with Vedanta, and the other being the Lakhanpur CHP Project from MCL. We also found success in new wells in Indrora. We move into FY27 with a healthy order book, strong balance sheet, and an expansive opportunity pipeline. Our focus is on translating our tailwinds into sustainable growth with improved margins and healthy cash flows. We also look forward to completing merger with Oilmax in FY27. We are pleased to announce a dividend of Rs 1.25 per share as a reflection of our strong growth, subject to shareholders’ approval.”
Sumit Maheshwari
“In FY26, our consolidated revenue and Profit After Tax have grown significantly over the past year. Our standalone Q4FY26 revenue was impacted (~75 crore) due to supply chain disruptions (West Asia conflict) and client-oriented delays in execution. We continue to remain a net zero debt company, and the recent receipt of Rs 92 crore from warrants conversion has further strengthened our balance sheet. We are well capitalized to pursue higher growth.
Looking ahead to FY27, we are confident of growing our standalone India services business by 30–40% with improved margins. For Kuiper, we remain optimistic of achieving revenue of USD 60–65 million in FY27 with improved margins, while also cautiously watching developments in West Asia. As the Oilmax merger progresses towards completion, we are focused on increasing production from the currently producing fields and bringing other fields into production soon.”
Outlook
The company enters FY27 with:
- Strong order book and revenue visibility
- Expanding international presence post-Kuiper acquisition
- Ongoing merger with Oilmax
- Increased production from Indrora block
- Strong balance sheet and net zero debt position
Asian Energy Services Limited continues to focus on converting operational momentum into sustainable growth, margin expansion, and long-term value creation