Date: 30th October, 2026

Financial Performance Summary

H1 FY2027 Performance (Consolidated)

  • Revenue: INR 537.9 crore (▲148% YoY)
  • EBITDA: INR 52.3 crore (▲148% YoY)
  • Profit After Tax (PAT): INR 29.8 crore (▲1697% YoY)

Q2 FY2027 Performance (Consolidated)

  • Revenue: INR 266.7 crore
  • Performance: Revenue remained broadly stable on sequential basis (QoQ) but showed healthy year-on-year growth
  • Profitability: Improved both sequentially and year-on-year, supported by operational efficiencies and disciplined cost management

Year-over-Year Growth Rates (Q2 FY27 vs Q2 FY26)

  • Revenue Growth: 161%
  • EBITDA Growth: 235%
  • Profit After Tax Growth: 530%

Operational Highlights

Order Book & Revenue Visibility

  • Standalone order book stood at approximately INR 1,633 crore as of September 30, 2026
  • Active bidding pipeline remains robust, providing visibility for future order inflows
  • Increasing opportunities across energy and mineral infrastructure services
  • Management targets longer-term revenue objective of approximately INR 3,000 crore by FY29/FY30

Guidance

  • Standalone revenue growth guidance of 30-40% for FY27 reaffirmed

Strategic Developments

Merger Update

  • NCLT approval received for Oilmax-AESL merger on September 29, 2026
  • Government in-principle approval secured
  • Final approval from Government awaited

New Contract Awards

  • Oilmax awarded GK Offshore Block under DSF Bid Round IV, marking entry into offshore E&P
  • Oilmax secured Pakro Critical Mineral Mine containing vanadium and graphite resources, expanding exposure to strategic minerals

Management Commentary

Dr. Kapil Garg, Managing Director

"We have delivered a strong performance in H1FY27, marked by focused execution across our business verticals, and we remain on track with the guidance provided for FY27. The execution of the Revenue Sharing Contract of GK Offshore block marks a significant milestone in our growth journey and reinforces our commitment to building a stronger, integrated energy platform. Further, the Oilmax merger has received approval from the NCLT and is now awaiting final approval from the Government, bringing us closer to consolidating our energy businesses under one platform."

Mr. Sumit Maheshwari, Group CFO

"Q2FY27 reflected continued progress across our businesses with a robust financial position. The business reported strong execution across all verticals despite a volatile global environment. Our Q2FY27 revenue has grown by 161%, EBITDA by 235% and Profit After Tax by 530% as compared to Q2FY26. Further, our revenue has grown by 148%, EBITDA by 148% and PAT by 1697% as compared to H1FY26. We remain confident of achieving our FY27 guidance. Our strong balance sheet and prudent leverage position provide a solid foundation to pursue strategic growth opportunities and unlock our full business potential."

Business Overview

Asian Energy Services Limited offers end-to-end services spanning the entire upstream value chain, including:

  • Integrated Oil & Gas services
  • 2D and 3D Seismic Geophysical Data Acquisition
  • Operations and Maintenance of Onshore and Offshore Oil and Gas Production Facilities
  • Production enhancement services
  • Mining services including supply and installation of Material Handling Plants and Rapid Loading Systems

Since its acquisition by Oilmax Energy Private Limited (OEPL), AESL has diversified its business verticals to capture more value across the energy and upstream oil and gas value chains.

Oilmax Energy Private Limited holds 55.53% of the shareholding in AESL and is engaged in exploration, development, and production of oil & gas assets with participating interests in 6 oil & gas blocks (including one Coal Bed Methane block).