Asian Energy posts 44% rise in Q4 profit

21 May 2026 CW Team

Asian Energy Services Limited reported a 43.6 per cent year-on-year rise in adjusted net profit to Rs 606 million for the quarter ended 31st March 2026, supported by strong execution and operational efficiencies. Revenue was partially affected by supply-chain disruptions linked to the West Asia conflict and client-related delays.

During FY26, the company completed the Kuiper acquisition, expanding its international footprint, particularly in the Middle East. The Oilmax merger is scheduled for completion by September/October 2026, pending regulatory approvals. Advanced execution of the Vedanta integrated field development contract delivered significant cost savings and sets a precedent for future integrated projects.

The Indrora Block achieved production of ~100 BOPD from the NM-01 well, with a target of ~1,000 BOPD by FY27 through additional drilling and field development. The standalone order book stood at Rs 17,500 million as of 31st March 2026, excluding Kuiper, providing strong revenue visibility.

Dr Kapil Garg, Managing Director, said, ‘FY26 has been a landmark year, driven by Kuiper acquisition and the Oilmax merger. Despite supply chain risks, we secured major projects with Vedanta and MCL, and successfully developed new wells in Indrora. We enter FY27 with a healthy order book, robust balance sheet, and a strong growth pipeline.’

The board announced a dividend of Rs 12.5 per share, subject to shareholder approval. Sumit Maheshwari, Group CFO, added that standalone India services are expected to grow 30–40 per cent in FY27 with improved margins, while Kuiper aims for revenue of USD 60–65 million. The company remains net zero-debt, strengthened by Rs 920 million from warrants conversion, and continues to monitor developments in West Asia.

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