Summary of Key Information:
Reporting Period: Quarter ended 30th June 2026 (Q1 FY27)
Nature of Filing / Announcement: Outcome of Board Meeting - Unaudited Financial Results
Audit Opinion:
Clean opinion - No modifications or qualifications. The limited review report states: "nothing has come to our attention that causes us to believe that the accompanying Statement... contains any material misstatement."
Key Financial Highlights [INR in lakhs]:
Consolidated Results:
Revenue from Operations: ₹27,118.53 lakhs (Q1 FY26: ₹11,536.69 lakhs)
Total Income: ₹27,450.46 lakhs (Q1 FY26: ₹11,735.50 lakhs)
Net Profit: ₹1,275.65 lakhs (Q1 FY26: ₹563.23 lakhs)
EPS: Basic ₹2.53, Diluted ₹2.49 (Q1 FY26: Basic ₹1.24, Diluted ₹1.23)
Other Equity: Not specified for current quarter
Cash and Cash Equivalents: Not specified
Debt: Not specified
Standalone Results:
Revenue from Operations: ₹14,927.67 lakhs (Q1 FY26: ₹11,536.69 lakhs)
Total Income: ₹15,173.53 lakhs (Q1 FY26: ₹11,720.83 lakhs)
Net Profit: ₹955.28 lakhs (Q1 FY26: ₹610.92 lakhs)
EPS: Basic ₹2.02, Diluted ₹1.99 (Q1 FY26: Basic ₹1.37, Diluted ₹1.36)
Other Equity: Not specified for current quarter
Cash and Cash Equivalents: Not specified
Debt: Not specified
Segment-wise Performance [INR in lakhs]:
Segment Revenue:
Oil and gas: ₹24,477.59 lakhs (Q1 FY26: ₹9,223.85 lakhs)
Mineral and other energy services: ₹2,640.94 lakhs (Q1 FY26: ₹2,312.84 lakhs)
Segment Results:
Oil and gas: ₹3,329.93 lakhs (Q1 FY26: ₹1,886.34 lakhs)
Mineral and other energy services: ₹406.97 lakhs (Q1 FY26: ₹469.05 lakhs)
Corporate Actions:
Dividend: Not declared
Share Split/Bonus: Not specified
Buyback: Not specified
Capital Raising:
The Company allotted 36,62,702 equity shares of ₹10 each upon conversion of warrants on 5th May 2026. 10,37,298 warrants lapsed and upfront amount of ₹868.74 lakhs was forfeited.
ESOP Grants:
The Company granted 1,77,000 stock options to employees and 17,000 stock options to employees of Holding Company under Asian ESOP Scheme 2025 and 2024 with grant date of 19th May 2026. ESOP compensation expense of ₹0.58 crores recognized during the quarter.
Merger Update:
Pursuant to NCLT Mumbai order dated 22nd April 2026, equity shareholders of Oilmax Energy Private Limited (Transferor Company) and Asian Energy Services Limited (Transferee Company) approved the Merger by Absorption under Sections 230-232 read with Section 66 of Companies Act, 2013. The Joint Company Scheme Petition was admitted by NCLT Mumbai on 7th July 2026 and is pending final disposal. No effect of the scheme has been given in the financial statements.
Auditor Appointments:
No new appointments disclosed. SGCO & Co. LLP is the current auditor.
Subsidiary Acquisition:
During previous year, Asian Oilfield & Energy Services DMCC acquired 100% equity stake in Kuiper Holdings Limited and its subsidiaries (UAE) and Kuiper Group Limited and its subsidiaries (Cayman Islands). Final fair value adjustments resulted in capital reserve of ₹3,996.59 lakhs.
Other Significant Information:
Exceptional Items:
Previous year quarter ended March 2026 included exceptional items of ₹279.14 lakhs (consolidated) and ₹271.82 lakhs (standalone) representing amount written off pursuant to recommendation of Outside expert Council in respect of contractual dispute.
Accounting Policy Change:
During previous year, management reclassified employee costs related to projects from Employee Benefit Expenses to Project Related Expenses for more appropriate presentation.
Subsidiaries and Joint Ventures:
Consolidation includes 26 subsidiaries/step-down subsidiaries and 5 joint ventures across multiple countries including Dubai, Nigeria, Singapore, Cayman, UAE, KSA, Qatar, Malaysia, Brunei, Indonesia, Thailand, Egypt, Namibia, and Cyprus.