ASIANENE
Asian Energy Services share price & financials
- Price
- ₹367.25
- Market cap
- ₹2.6k Cr
- Sector
- Oil, Gas & Consumable Fuels
- Calls analysed
- 4
Asian Energy Q4 FY26
What went well
- Revenue from operations for FY26 grew 70% year-on-year to INR 791 crores.
- Adjusted profit after tax for FY26 stood at INR 60.6 crores, translating into an adjusted PAT margin of 7.7%.
- Q4 FY26 revenue grew 57% to INR 338 crores, with EBITDA growing 47% to INR 49 crores, and an EBITDA margin of 14.6%.
What to watch
- Q4 FY26 revenue recognition was delayed due to supply chain disruptions from the West Asia conflict and client-side delays.
- A one-time exceptional item of INR 9 crores related to Kuiper acquisition costs and a write-off impacted FY26 PAT.
What Asian Energy Services Limited does
Asian Energy Services Limited (formerly Asian Oilfield Services Limited) is an integrated energy infrastructure services provider spanning the oil & gas value chain from seismic data acquisition and geological studies to field development, production enhancement and operation & maintenance (O&M) of production facilities. It has diversified beyond its original seismic-services base into material handling, coal handling plant (CHP) projects and mineral services for coal and other bulk materials. Following the 2023-24 acquisition of Dubai-based Kuiper Group, the company also provides offshore drilling and manpower/staffing services internationally. It is pursuing a merger with Oilmax Energy, which would add upstream oil & gas producing assets and blocks to the group.
Segments
- Oil and Gas
- Mineral and Other Energy Services
- Subsidiaries and joint ventures
- 5 subsidiaries, 1 step-down subsidiary and 4 joint ventures (as of March 31, 2025)
- Kuiper Group international footprint
- Operates across a dozen countries in the Middle East, North Africa and Southeast Asia
- Track record
- 350+ projects completed over 50+ years in energy services
- Oil & gas blocks (via proposed Oilmax merger)
- 5 oil & gas blocks, including one CBM asset
- Hydrocarbon reserves (Oilmax assets)
- ~70 million barrels
- Named subsidiaries
- Asian Oilfield & Energy Services DMCC, AOSL Petroleum Pte. Ltd., AOSL Energy Services Limited, Optimum Oil & Gas Private Limited, Cure Multitrade Private Limited, Ivorene Oil Services Nigeria Ltd (step-down)
Guidance record · Q4 FY26
what the last two calls moved 14 tracked 2 delivered 3 missed 9 open- Kuiper Group Acquisition Completion delivered, diluted said Q4 FY25 Promised: completed by the end of June this year Q4 FY26: No change. The acquisition was completed in September 2025, later than the original June 2025 target.
- FY26 Standalone Revenue missed said Q4 FY25 Promised: INR650 crores to INR700 crores Q4 FY26: The company did not report a standalone revenue figure, making direct comparison impossible. However, implied standalone revenue (Consolidated INR 791 cr minus estimated Kuiper contribution) is significantly below the INR 650-700 cr target.
- Duarmara Field Peak Production at risk said Q2 FY26 Promised: 6,200 barrels of oil equivalent... achieved in financial year '29-'30 Q4 FY26: Initial production start, previously expected in FY26, has been delayed to FY27 due to the need for more detailed testing. This delay introduces risk to the long-term peak production timeline.
All 14 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 135.7%, net profit up 116.7% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 98 | 92 | 215 | 115 | 102 +4% | 235 +155% | 338 +57% | 271 +136% |
| EBITDA | 15 | 13 | 31 | 11 | 8 −47% | 28 +115% | 48 +55% | 21 +91% |
| Net profit | 9 | 8 | 23 | 6 | -4 −144% | 18 +125% | 33 +43% | 13 +117% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +48.0% 1Y
1Y: ₹361.55 on 10 Sept 2025 → ₹535.1. High ₹553.55 (8 Sept 2026), low ₹233.95 (27 Jan 2026).
How the price took the results
close before → close after
- Q4 FY26
- +10.9%
- 20 May
- Q2 FY26
- −2.4%
- 17 Nov
- Q1 FY26
- −3.2%
- 8 Sept
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 92.7% a year over 3 years, FY23 to FY26. Operating margin widened to 12.0%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹110 Cr | ₹305 Cr | ₹465 Cr | ₹790 Cr |
| Operating profit | ₹-19 Cr | ₹43 Cr | ₹65 Cr | ₹95 Cr |
| Operating margin | -16.8% | 14.1% | 14.0% | 12.0% |
| Interest | ₹2 Cr | ₹2 Cr | ₹5 Cr | ₹11 Cr |
| Depreciation | ₹22 Cr | ₹16 Cr | ₹17 Cr | ₹19 Cr |
| Net profit | ₹-44 Cr | ₹26 Cr | ₹42 Cr | ₹53 Cr |
| Net margin | -40.2% | 8.5% | 9.0% | 6.7% |
| Cash from operations | ₹-3 Cr | ₹-44 Cr | ₹-33 Cr | ₹53 Cr |
| Free cash flow | ₹-4 Cr | ₹-73 Cr | ₹-52 Cr | ₹-8 Cr |
| ROCE | -15.0% | 13.0% | 17.0% | 17.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹38 Cr | ₹38 Cr | ₹38 Cr | ₹41 Cr | ₹45 Cr | ₹45 Cr |
| Reserves | ₹166 Cr | ₹204 Cr | ₹162 Cr | ₹237 Cr | ₹398 Cr | ₹449 Cr |
| Borrowings | ₹4 Cr | ₹8 Cr | ₹21 Cr | ₹22 Cr | ₹106 Cr | ₹159 Cr |
| Other liabilities | ₹140 Cr | ₹88 Cr | ₹76 Cr | ₹84 Cr | ₹193 Cr | ₹266 Cr |
| Total liabilities | ₹348 Cr | ₹338 Cr | ₹297 Cr | ₹384 Cr | ₹741 Cr | ₹918 Cr |
| Fixed assets | ₹132 Cr | ₹112 Cr | ₹96 Cr | ₹112 Cr | ₹109 Cr | ₹115 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹3 Cr | ₹46 Cr |
| Investments | ₹0 Cr | ₹6 Cr | ₹20 Cr | ₹12 Cr | ₹34 Cr | ₹12 Cr |
| Other assets | ₹216 Cr | ₹220 Cr | ₹181 Cr | ₹259 Cr | ₹595 Cr | ₹746 Cr |
| Total assets | ₹348 Cr | ₹338 Cr | ₹297 Cr | ₹384 Cr | ₹741 Cr | ₹918 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public added +5.81 pp while promoters trimmed −4.83 pp. The shareholder count grew 11% to 23,990.
- Promoters
- 56.1%
- FIIs
- 1.4%
- DIIs
- 0.3%
- Public
- 42.2%
Since Jun 2025
- Public +5.81 pp
- Promoters −4.83 pp
- FIIs −0.94 pp
How it drifted, 12 quarters
Over this window promoters fell from 63.1% to 56.1% — −6.9 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 63.1%, FIIs 0.1%, Public 35.9%, Others 1.0%.Dec '23: Promoters 61.4%, FIIs 4.0%, Public 33.7%, Others 1.0%.Mar '24: Promoters 58.5%, FIIs 4.3%, Public 36.5%, Others 0.7%.Jun '24: Promoters 58.5%, FIIs 3.1%, Public 37.8%, Others 0.5%.Sep '24: Promoters 61.0%, FIIs 2.2%, Public 36.4%, Others 0.4%.Dec '24: Promoters 61.0%, FIIs 2.3%, Public 36.6%, Others 0.2%.Mar '25: Promoters 61.0%, FIIs 2.4%, Public 36.5%, Others 0.2%.Jun '25: Promoters 61.0%, FIIs 2.3%, DIIs 0.3%, Public 36.4%, Others 0.1%.Sep '25: Promoters 61.0%, FIIs 0.9%, DIIs 0.4%, Public 37.6%, Others 0.1%.Dec '25: Promoters 61.0%, FIIs 1.1%, DIIs 0.5%, Public 37.3%, Others 0.1%.Mar '26: Promoters 60.8%, FIIs 1.3%, DIIs 0.8%, Public 37.0%, Others 0.0%.Jun '26: Promoters 56.1%, FIIs 1.4%, DIIs 0.3%, Public 42.2%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Titagarh Enterprises Limited newly disclosed 1.35% held
- Ashish Kacholia newly disclosed 1.18% held
- Everest Finance & Investment Company (Ashish Agrawal & Navneet Agrawal) newly disclosed 1.18% held
The same filing shows 5 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Asian Energy Services Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Oilmax Energy Private Limited | 56.01% | −4.60 pp |
| Chartered Finance & Leasing Limited | 3.91% | −0.32 pp |
| Anantroop Financial Advisory Services Private Limited | 1.54% | −0.13 pp |
| Titagarh Enterprises Limited | 1.35% | newly disclosed |
| Ashish Kacholia | 1.18% | newly disclosed |
| Everest Finance & Investment Company (Ashish Agrawal & Navneet Agrawal) | 1.18% | newly disclosed |
| Meenakshi Mohit Agrawal | 1.03% | −0.08 pp |
| Harit Exports Pvt Ltd | 1.03% | −0.08 pp |
| Ritu Garg | 0.13% | unchanged |
| AOSL Energy Services Limited | 0.00% | unchanged |
| Optimum Oil & Gas Private Limited | 0.00% | unchanged |
| Cure Multitrade Private Limited | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (4)
Read the Q4 FY26 call →Learn to analyse Asian Energy Services Limited
Guides on how to read this kind of business and the numbers that matter.