Asian Energy Services Ltd Sets Bold Growth Trajectory at 2025 AGM

Asian Energy Services Limited (AESL) showcased a strong performance for FY25 and unveiled ambitious growth plans at its recently concluded Annual General Meeting. The company delivered record financial performance in FY 2024-25, with revenue rising by 52% year-on-year to Rs.464 crore, EBITDA by 67% to Rs.72 crore and PAT by 65% to Rs.42 crore. Backed by an order book of ~Rs.1,688 crore from 3rd party contracts in India. AESL aspires to achieve its ambitious target of ~Rs.3,000 crore revenue by 2029 with EBITDA of Rs.700+ crore and PAT of ~Rs.500 crore supported by robust cash flows and operational excellence.

A key driver of AESL's growth is the acquisition of Kuiper Group, a UAE-based oil & gas services provider with operations in the Middle East and Southeast Asia. Kuiper adds global expertise, client relationships, and a skilled talent pool, enabling AESL to expand geographically, capture high-value O&M and field development opportunities, and diversify revenue streams, strengthening its position as a global energy services player. Kuiper's established global footprint expands AESL's global reach, with contributions to revenues beginning September 2025.

Complementing this expansion is the transformational reverse merger with Oilmax Energy Pvt. Ltd., valued at ~Rs.2,582 crore based on its producing and development-stage oil & gas blocks, mineral assets, and holdings in AESL and Anirit Ventures (~40% of its value). Oilmax's existing holding of ~2.72 crore shares in AESL was valued at Rs.371 per share, reinforcing the attractiveness of the combined entity, and the transaction is being executed through a share swap arrangement where for every 10 shares of Oilmax, shareholders receive 117 shares of AESL, thereby creating a stronger balance sheet, widening public participation, and integrating Oilmax's upstream portfolio with AESL's service expertise to deliver longterm shareholder value.

Commenting on this, Dr. Kapil Garg, Managing Director, Asian Energy Services Limited said, "FY25 has been a landmark year for AESL, with record revenue, EBITDA, and PAT growth, supported by a strong order book from third-party contracts across India. The acquisition of Kuiper Group significantly expands our footprint in the Middle East and Southeast Asia, enhancing our O&M and field development capabilities while diversifying revenue streams and strengthening our position as a global energy services player.

Looking ahead, AESL is progressing with the proposed merger with Oilmax Energy Pvt. Ltd., expected to complete by Q3 FY27. This transformational step will integrate Oilmax's upstream assets and mineral resources with AESL's service expertise, creating a stronger balance sheet, broadening public participation, and positioning AESL for sustainable, long-term growth, operational excellence, and financial resilience globally."

AESL aspires for exponential expansion in near term fuelled by new contracts, Kuiper's international business and synergy prospects post-merger. The company is committed to scaling operations, pursuing low-risk growth avenues and expanding Kuiper's value-added services, aiming for a substantial increase in profitability and market leadership over the next 3-4 years.

Shares of Asian Energy Services Ltd was last trading in BSE at Rs. 331.85 as compared to the previous close of Rs. 347.60. The total number of shares traded during the day was 17920 in over 663 trades.

The stock hit an intraday high of Rs. 349.90 and intraday low of 329.80. The net turnover during the day was Rs. 5981422.00.

Source : Equity Bulls

Keywords

AsianEnergyServices INE276G01015 FY25 StrongPerformance 2025AGM