Asian Energy Services Ltd

Asian Energy Services Ltd has been empanelled by Oil India Limited (OIL) for on-land seismic data acquisition services for a period of three years. This empanelment covers various project categories, including large-scale surveys, and positions Asian Energy as an eligible bidder for future OIL tenders. While contract awards will depend on separate tendering processes, this development is expected to strengthen Asian Energy's position in the Oil & Gas segment and enhance opportunities for securing future business from OIL.

Asian Energy Services Ltd reported a strong Q4 and FY26, with FY26 net profit surging 43.6% YoY to ₹60.6 crore. FY26 revenue reached ₹791.1 crore (+70.1% YoY), EBITDA at ₹98.9 crore (+36.6% YoY). Q4FY26 revenue was ₹338.2 crore (+57.0% YoY), EBITDA at ₹49.4 crore (+46.6% YoY), and Adj. PAT at ₹34.6 crore (+53.8% YoY). The company anticipates completing its merger with Oilmax by September/October 2026 and is targeting a 30-40% growth in its standalone India services business for FY27.

Asian Energy Services Ltd announced audited financial results for the quarter and year ended March 31, 2026. The Board of Directors approved the standalone and consolidated financial results and recommended a final dividend of ₹1.25 per equity share (12.5%) for FY26, subject to shareholder approval. Additionally, Dr. Kapil Garg has been re-appointed as Managing Director for a term of three years, effective June 1, 2026, also subject to shareholder approval. The auditors have issued an unmodified opinion on the financial results.

Asian Energy Services Ltd's board approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. They recommended a final dividend of ₹1.25 per equity share (12.5%) for FY26, subject to shareholder approval. Additionally, Dr. Kapil Garg was re-appointed as Managing Director for three years, effective June 1, 2026, also pending shareholder approval.

Asian Energy Services Ltd has released the Monitoring Agency Report for the quarter ended March 31, 2026, as per Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report, issued by India Ratings & Research Private Limited, monitors the utilization of proceeds from the Preferential Issue of Convertible Warrants. The report indicates no deviation from the stated objectives based on management undertaking and auditor certificate. The actual subscription of convertible warrants and the amount received by the company as on March 31, 2026 is detailed in the report.

Asian Energy Services Ltd has scheduled a Board of Directors meeting on May 19, 2026, to consider and approve the audited financial results (standalone & consolidated) for the quarter and financial year ended March 31, 2026. The board will also consider recommending a final dividend, if any, for FY26, subject to shareholder approval. The trading window for dealing in the company's securities has been closed from April 1, 2026, until 48 hours after the announcement of the financial results.

Asian Energy Services Ltd (AESL) announced that the Mumbai Bench of the National Company Law Tribunal (NCLT) has directed a meeting of equity shareholders to consider and approve the proposed Scheme of Merger by Absorption of Oilmax Energy Private Limited (OEPL) with AESL. The meeting will be held on Friday, June 12, 2026, at 11:00 A.M. (IST) via Video Conferencing/Other Audio Visual Means. The remote e-voting period will commence on Tuesday, June 9, 2026, at 9:00 a.m. (IST) and end on Thursday, June 11, 2026, at 5:00 p.m. (IST).

Asian Energy Services Ltd (AESL) has successfully completed the conversion of warrants, raising ₹92.03 crore through the issuance of 36.63 lakh shares. This follows a preferential allotment of 47,00,000 warrants on November 5, 2024, with each warrant convertible into one equity share at ₹335. The company had raised ₹39 crore upfront as subscription amount. The funds will be used to enhance the company’s balance sheet and fund growth opportunities across its verticals. Top subscribers in the conversion include Everest Finance & Investment Company, Ashish Kacholia, and Titagarh Enterprises Ltd.

Asian Energy Services Ltd (AESL) has successfully completed the conversion of warrants, raising ₹92.03 crore through the issuance of 36.63 lakh shares. This follows the preferential allotment of 47,00,000 warrants on November 5, 2024, with each warrant convertible into one equity share at ₹335. The company raised a total of ₹131.03 crore since November 5, 2024, including the upfront subscription amount. The funds will be used to enhance the company’s balance sheet and fund growth opportunities across its verticals. Top subscribers in the conversion include Everest Finance & Investment Company, Ashish Kacholia, and Titagarh Enterprises Ltd.

Asian Energy Services Ltd has allotted 36,62,702 equity shares of ₹10 each, pursuant to the exercise of convertible warrants. These warrants were initially allotted on a preferential basis on November 5, 2024, convertible into equity shares at ₹335 each. The allotment was approved by the Allotment Committee on May 5, 2026, following the receipt of ₹92,02,53,880 as warrant exercise price. Consequently, the company's issued, subscribed, and paid-up equity share capital has increased to ₹48,61,10,000, comprising 4,86,11,000 equity shares. 10,37,298 warrants lapsed due to non-exercise within the stipulated period, leading to the forfeiture of the upfront amount.