Asian Energy Services Limited has announced its audited financial results for the quarter and year ended 31 March 2026. The company reported a consolidated net profit of INR 51.84 crore for the financial year 2025-26, marking a 23% increase from the previous year. Revenue from operations for the year surged 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 for FY26, subject to shareholder approval.

For the quarter ended 31 March 2026, the 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 after adjusting for exceptional items of INR 9.4 crore, which includes one-time acquisition costs and write-offs.

Financial Performance

The company's financial performance reflects strong execution momentum and improved operational efficiencies.

Business Highlights and Management Commentary

The company noted that the Kuiper acquisition materially expanded its international platform. The Oilmax merger is expected to be completed by September or October 2026, subject to regulatory clearances. Advanced execution of the Vedanta integrated field development contract delivered significant cost savings.

Dr. Kapil Garg, Managing Director, highlighted that FY26 was a landmark year driven by the Kuiper acquisition and the initiation of the Oilmax merger. He stated that the company moves into FY27 with a healthy order book and strong balance sheet. The order book as of 31 March 2026 stood at approximately INR 1,750 crore on a standalone basis.

Mr. Sumit Maheshwari, Group CFO, mentioned 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.

Regulatory Disclosures

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has informed that the audio recording 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.

Asian Energy Services Limited has announced that the Mumbai Bench of the National Company Law Tribunal (NCLT) has directed the convening of a meeting of its equity shareholders to consider a proposed Scheme of Merger by Absorption. The meeting is scheduled for Friday, June 12, 2026, at 11:00 AM IST, and will be conducted through Video Conferencing or other Audio Visual Means (VC/OAVM), without physical presence. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and was communicated to stock exchanges on May 11, 2026.

NCLT Order and Merger Scheme Details

The NCLT, Mumbai Bench, issued its order on April 22, 2026, under Company Scheme Application No. C.A.(CAA)/49(MB)/2026, directing the convening of the shareholder meeting. The proposed scheme involves the Merger by Absorption of Oilmax Energy Private Limited (CIN: U40101MH2008PTC185357), designated as the Transferor Company or First Applicant Company, with Asian Energy Services Limited (CIN: L23200MH1992PLC318353), designated as the Transferee Company or Second Applicant Company. The scheme is being pursued under Sections 230 to 232 read with Section 66 and other applicable provisions of the Companies Act, 2013, and rules framed thereunder.

The key details of the NCLT-convened meeting are summarised below:

E-Voting Schedule

Equity shareholders have been provided the facility of remote e-voting to enable them to cast their votes electronically prior to and during the meeting. The remote e-voting period is as follows:

Notice Dispatch and Documentation

Asian Energy Services Limited completed the dispatch of the notice of the meeting to equity shareholders on May 11, 2026. The notice was accompanied by a copy of the Scheme and Explanatory Statement under Sections 230 to 232 and 102 of the Companies Act, 2013, read with Rule 6 of the Companies (Compromises, Arrangements, and Amalgamations) Rules, 2016. Notices were sent electronically to shareholders whose email addresses are registered with the company, Depository Participants, or the Registrar and Share Transfer Agent. Physical copies were dispatched to shareholders whose email addresses are not on record.

The relevant documents have been made available on the following platforms:

• Website of Asian Energy Services Limited: www.asianenergy.com
• BSE Limited: www.bseindia.com
• NSE Limited: www.nseindia.com
• NSDL e-voting portal: www.evoting.nsd.com

Physical copies of the notice may also be obtained free of charge from the registered office of the Transferee Company at 3B, 3rd Floor, Omkar Esquare, Chunabhatti Signal, Eastern Express Highway, Sion (East), Mumbai – 400 022, between 10:00 AM and 5:00 PM on all working days (except Saturdays, Sundays, and public holidays) up to the date of the NCLT-convened meeting. Shareholders may also request an electronic copy by writing to secretarial@asianenergy.com .

Meeting Conduct and E-Voting Facility

The NCLT has appointed a Chairperson for the meeting. Mr. Ketan Dand (Membership No. FCS 5288, COP No. CP 4470) has been appointed as Scrutinizer for the meeting. The company has engaged the services of National Securities Depository Limited (NSDL) to provide the VC/OAVM facility, remote e-voting, and e-voting during the meeting.

The newspaper advertisements regarding the NCLT-convened meeting were published on May 11, 2026, in Business Standard (English, National Edition) and Navshakti (Marathi language), as directed by the NCLT. The disclosure to the stock exchanges was signed by Shweta Jain, Company Secretary & Compliance Officer (Membership No.: 23368), on behalf of Asian Energy Services Limited.

Scheme Subject to Further Approvals

The proposed Scheme of Merger by Absorption, if approved at the NCLT-convened meeting, will remain subject to the subsequent approval of the Hon'ble NCLT and such other approvals, permissions, and sanctions of the relevant regulatory authorities as may be necessary and as contemplated in the Scheme. The scheme is also being pursued in compliance with the SEBI Master Circular bearing No. SEBI/HO/CFD/POD-2/PI/CIR/2023/93 dated June 20, 2023, as amended from time to time, and any other applicable SEBI circulars governing schemes of arrangement.