Asian Energy Services Ltd shareholders have approved the re-appointment of Dr. Kapil Garg as Managing Director and the grant of stock options to a Non-Executive Non-Independent Director. The resolutions were passed through a remote e-voting process that concluded on June 24, 2026, with the requisite majority. The company also secured approval for the payment of remuneration to Independent Directors in compliance with regulatory norms.

The postal ballot notice was dated May 19, 2026, and the remote e-voting period was open from May 26, 2026, to June 24, 2026. A total of 20,696 shareholders were eligible to vote as on the cut-off date of May 22, 2026. The scrutinizer, Hemanshu Kapadia of Hemanshu Kapadia & Associates, validated the voting process conducted via the National Securities Depository Limited (NSDL) platform.

Voting Results Summary

The special resolution to re-appoint Dr. Kapil Garg (DIN: 01360843) received 99.9992% votes in favour, with 30,796,765 shares supporting the motion and 233 shares voting against it. The special resolution to grant stock options to Mr. Parikshit Datta (DIN: 06377749) under the AESL ESOP 2025 was approved with 99.9972% votes in favour, totaling 30,796,148 votes in favour and 850 against.

The ordinary resolution regarding remuneration for Independent Directors passed with 99.9992% of the votes polled. A total of 30,796,763 votes were cast in favour, while 235 votes were against the resolution. The total number of votes polled across all resolutions was 30,796,998.

Key Voting Details

The scrutinizer's report confirmed that no invalid votes or abstained votes were recorded during the e-voting process. The results were declared on June 26, 2026, and the documents have been submitted to the BSE Limited and National Stock Exchange of India Limited.

Asian Energy Services Limited has secured a ₹187.62 crore EPC contract from Gujarat State Electricity Corporation Limited (GSECL) for the enhancement of a coal handling plant at Ukai Thermal Power Station. This project marks the company's first major order outside Coal India and its subsidiaries, signaling a strategic diversification into state utility-led infrastructure projects. The contract, awarded on a lump-sum basis, covers end-to-end engineering, procurement, construction, and commissioning, with execution expected to take place over 2-3 years.

The project involves the capacity enhancement of the Coal Handling Plant (Stage-II) at the Ukai Thermal Power Station in Gujarat. Dr. Kapil Garg, Managing Director of Asian Energy Services Limited, stated that the win expands the company's order book in the mineral infrastructure vertical and adds to revenue visibility for the next two years. He noted that all previous projects were for Coal India and its associates, making this GSECL contract a significant step in acquiring new customers.

Project Details and Strategic Impact

The diversification of the client base is a key milestone for the company. Asian Energy Services Limited is currently engaged in developing several coal handling systems across multiple Coal India subsidiaries, including MCL, ECL, CCL, and SECL, as well as Singareni Collieries Company Limited in Telangana. Most of these projects involve turnkey execution covering design, engineering, supply, construction, erection, commissioning, and in some cases, operations & maintenance.

The following table summarizes the key details of the newly secured contract:

Company Overview

Asian Energy Services Limited (AESL) offers end-to-end services across the upstream value chain, including Integrated Oil & Gas services such as 2D and 3D Seismic Geographical Data Acquisition. It also provides operations and maintenance for onshore and offshore oil and gas production facilities, production enhancement services, and mining services including the 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. OEPL holds 56.01% of the shareholding in AESL and is engaged in the exploration, development, and production of oil & gas assets, focusing on developing blocks in India with discovered and proven reserves.