Asian Energy Services Reports INR 537.9 Crore Revenue in H1FY27

Asian Energy Services (AESL), an integrated energy and mining services provider, continued its growth trajectory in the second quarter of FY27, supported by strong execution across its oil & gas and mineral services businesses.

The company reported revenue of INR 266.7 crore in Q2FY27, taking H1FY27 revenue to INR 537.9 crore. While revenue remained broadly stable on a sequential basis, it recorded healthy year-on-year growth, reflecting sustained execution across domestic operations and improving performance at Kuiper Group. Profitability improved both sequentially and year-on-year, supported by operational efficiencies and disciplined cost management.

As of September 30, 2026, the company’s standalone order book stood at approximately INR 1,633 crore. Its active bidding pipeline remains robust, providing visibility into future order inflows, supported by growing opportunities across energy and mineral infrastructure services. Management continues to target a longer-term revenue of approximately INR 3,000 crore by FY29/FY30.

On the strategic front, the National Company Law Tribunal (NCLT) approved the Oilmax–AESL merger on September 29, 2026, while government in-principle approval has also been secured, with final approval 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, expanding its exposure to strategic minerals.

Dr. Kapil Garg, Managing Director, Asian Energy, Services, “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.”