Asian Energy Services has been empanelled by Oil India Ltd for the acquisition of on-land 2D and 3D seismic data services across its onshore acreages in India. The empanelment is valid for a period of three years and covers multiple project categories, including large-scale seismic surveys. This development positions the company as an eligible bidder in Oil India's future tenders for seismic data acquisition services.

Contract awards will be subject to separate tendering processes, evaluation criteria, and compliance with technical and commercial requirements specified by Oil India from time to time. The empanelment is expected to strengthen Asian Energy Services' position in the integrated oil and gas segment and enhance opportunities to secure future business from a leading public sector enterprise in the sector.

Key Details of the Empanelment

The company disclosed this information to the stock exchanges on June 05, 2026. The empanelment does not guarantee specific contract values but establishes a framework for potential future business.

Asian Energy Services Limited has reported its audited financial results for the quarter and year ended 31 March 2026, showcasing a transformation into an integrated international energy platform. The company posted a consolidated net profit of INR 51.84 crore for FY26, a 23% increase from the previous year, while revenue from operations surged 70% to INR 791.1 crore from INR 465.0 crore in FY25. The board has recommended a final dividend of INR 1.25 per equity share, subject to shareholder approval.

For the quarter ended 31 March 2026, net profit stood at INR 32.65 crore compared to INR 22.55 crore in the corresponding quarter of the previous year. Quarterly revenue from operations rose to INR 338.2 crore. The statutory auditors issued an unmodified opinion on the financial results. The adjusted PAT for FY26 is INR 60.6 crore, after adjusting for exceptional items of INR 9.4 crore related to Kuiper acquisition costs and write-offs.

Financial Performance

The company's financial performance reflects strong execution momentum and improved operational efficiencies, with EBITDA growing 37% to INR 98.9 crore.

Business Highlights and Management Commentary

Dr. Kapil Garg, Managing Director, highlighted that FY26 was a landmark year driven by the Kuiper acquisition and the initiation of the Oilmax merger. The company has received SEBI approval for the proposed merger with Oilmax Energy, with the NCLT shareholders' meeting scheduled for June 2026 and completion expected by September or October 2026. The order book as of 31 March 2026 stood at approximately INR 1,750 crore on a standalone basis.

Mr. Sumit Maheshwari, Group CFO, noted that while standalone Q4FY26 revenue was impacted by supply chain disruptions and client-oriented delays, the company remains a net zero-debt company. He expressed confidence in growing the standalone India services business by 30-40% in FY27 with improved margins. The company received INR 92 crores from warrants conversion, further strengthening the balance sheet.

Segment Performance

For Q4FY26, the Oil and Gas segment reported revenue of INR 256 crores with a segment profit of INR 42 crores. For the full year, the segment reported revenue of INR 633 crores with a profit of INR 102 crores. The Minerals segment reported Q4 revenue of INR 82 crores with a profit of INR 18 crores, and full-year revenue of INR 158 crores with a profit of INR 32 crores.

Regulatory Disclosures

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has informed that the transcript of the Earnings Conference Call pertaining to Financial Results for Q4 & FY26, held on 20 May 2026, has been uploaded on its website. The recording is accessible under the Investors relations section.