| PE TTM | 35.09Industry: 28.43 |
|---|---|
| Market Cap | ₹2,019.79 CrSmall Cap |
| 1-Year Return | 24.46%Stock Performance |
| RSI | 48.58Neutral Zone |
| Metric | Q2-27 | Q1-27 | Q2-26 |
|---|---|---|---|
| Revenue from Operations | 267 | 271 | 102 |
| Other Income | 1.8 | 3.3 | 1.2 |
| Total Income | 268 | 274 | 103 |
| Profit Before Tax | 24.0 | 17.1 | -2.7 |
| Exceptional Items | 0.0 | 0.0 | -6.5 |
| Net Profit | 17.1 | 12.8 | -4.0 |
| Operating Margin | 8.9% | 6.2% | -2.6% |
| Net Profit QoQ | +33.6% | ||
| Net Profit YoY | +527.5% | ||
| Adj. Profit QoQ | +60.9% | ||
| Adj. Profit YoY | +722.2% | ||
Key highlights
- Revenue from operations grew 161.7% year-on-year to ₹267 crore from ₹102 crore
- Net profit reached ₹17.1 crore, marking a turnaround from a ₹4.0 crore loss in Q2 FY26
- Operating margins improved to 8.9% in Q2 FY27 compared to negative margins last year
- Company received the final NCLT order sanctioning the merger of Oilmax Energy on October 15, 2026
- The Oil and Gas segment contributed ₹239.75 crore to the total quarterly revenue
Operational Scale and Revenue Turnaround
Asian Energy Services reported a significant recovery for the quarter ended September 30, 2026, with revenue from operations reaching ₹267 crore. This represents a 161.7% increase from the ₹102 crore recorded in the same period last year. The Oil and Gas segment remained the primary driver, contributing ₹239.75 crore, while Mineral and Other Energy Services accounted for ₹26.92 crore.
Net profit for the quarter stood at ₹17.1 crore, marking a recovery from the ₹4.0 crore loss reported in Q2 FY26. Operating margins improved to 8.9% as the company benefited from increased execution scale across its project portfolio, although revenue was slightly lower sequentially compared to ₹271 crore in Q1 FY27.
Strategic Merger and Corporate Revisions
- Received the certified true copy of the NCLT Mumbai Bench order on October 15, 2026, sanctioning the merger with Oilmax Energy Private Limited
- The Board approved the incorporation of a Section 8 company, Asian Energy Foundation, for CSR activities
- Ms. Angira Singhvi was appointed as an Additional Director (Non-Executive Independent) for a five-year term starting October 30, 2026
- Ms. Mukta Sharma was designated as the Group Chief Human Resources Officer (Group CHRO) and Senior Management Personnel
- The company reported a confirmed order book of ₹1,754 crore as of June 30, 2026, providing revenue visibility for coming quarters
NCLT Merger Sanction Note
The Board of Directors took note of and placed on record the certified true copy of the Order dated September 29, 2026, passed by the Hon'ble National Company Law Tribunal, Mumbai Bench, sanctioning the Scheme of Merger by Absorption of Oilmax Energy Private Limited with Asian Energy Services Limited.
Market Valuation and Sector Context
Operating within the Oil Equipment and Services industry, Asian Energy Services has a market capitalization of ₹2,019.79 crore. Its TTM price-to-earnings (P/E) ratio stands at 35.09x, which is higher than the industry average of 28.43x and the sector average of 17.84x. The stock has delivered a 24.46% return over the past year, though it has seen a 13.12% decline over the last month.
Promoter holding remains stable at 56.1% with no pledged shares. Technically, the stock is in a neutral momentum zone with a Day RSI of 48.58, trading above its 200-day moving average of ₹356.63 but currently below its 50-day average of ₹473.05.
What to watch next
- Final approval from the Ministry of Petroleum and Natural Gas (MoPNG) for the merger scheme
- Execution progress of the ₹1,754 crore order book through the second half of FY27
- Formal incorporation and operationalization of the Asian Energy Foundation
“The Board has authorised any Director, the Chief Financial Officer, the Company Secretary & Compliance Officer, or the Authorised Representative of the Company, severally, to sign, digitally execute and file Form INC-28 and to do all such acts, deeds, matters and things as may be necessary or incidental for filing the said Form.”
| Share price | ₹415.5 |
|---|---|
| Market capitalisation | ₹2,019.79 Cr |
| Revenue (annual) | ₹791.05 Cr |
| Net profit (annual) | ₹51.16 Cr |
| Revenue (latest quarter) | ₹271.19 Cr-19.82% vs previous quarter |
| Net profit (latest quarter) | ₹11.96 Cr-62.57% vs previous quarter |
| P/E (TTM) | 35.09×Sector 17.84× |
| Promoter holding | 56.1%-0.04% QoQ |
| FII holding | 1.29%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Asian Energy Services Limited announcing its unaudited financial results for the quarter and half-year ended September 30, 2026. Market figures from a third-party data provider.
