Mumbai, Oct 30: Asian Energy Services Limited, an integrated energy and mining services provider, continued its growth trajectory in the second quarter of FY27, supported by strong execution across its oil and gas and mineral services businesses.
The Company reported consolidated revenue of INR 266.7 crore in Q2FY27, taking its H1FY27 revenue to INR 537.9 crore. While revenue remained broadly stable sequentially, it registered healthy year-on-year growth, reflecting sustained execution across domestic operations and improving performance at Kuiper Group. Profitability also improved on both sequential and year-on-year bases, supported by operational efficiencies and disciplined cost management.
Consolidated Performance Highlights – Q2 and H1FY27
During Q2FY27, the Company reported revenue growth of 161%, EBITDA growth of 235% and Profit After Tax (PAT) growth of 530% compared to Q2FY26.
For H1FY27, revenue and EBITDA increased by 148% each, while PAT registered growth of 1,697% compared to H1FY26.
Order Book and Revenue Visibility
As of September 30, 2026, AESL's standalone order book stood at approximately INR 1,633 crore. The Company continues to maintain a robust active bidding pipeline, providing visibility for future order inflows. It also expects to benefit from growing opportunities across energy and mineral infrastructure services.
Management remains focused on achieving its longer-term revenue objective of approximately INR 3,000 crore by FY29/FY30.
Strategic Developments
AESL received NCLT approval for the Oilmax–AESL merger on September 29, 2026, while Government in-principle approval has also been secured. Final approval from the Government is awaited.
Oilmax was awarded the GK Offshore Block under DSF Bid Round IV, marking its entry into offshore exploration and production (E&P) and strengthening the combined group's upstream portfolio.
Additionally, Oilmax secured the Pakro Critical Mineral Mine, which contains vanadium and graphite resources, further expanding the group's presence in strategic minerals.
Dr. Kapil Garg, Managing Director, Asian Energy Services Limited, said,
“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, said,
“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.”
