Asian Energy Services Limited (AESL), an integrated energy and mining services provider, reported revenue of ₹266.7 crore for Q2FY27, taking its first-half revenue to ₹537.9 crore, an increase of 148% year-on-year. The company recorded strong growth across its oil and gas and mineral services businesses, supported by project execution and improving operating performance.
For H1FY27, EBITDA stood at ₹52.3 crore, up 148% year-on-year, while profit after tax (PAT) increased 1,697% to ₹29.8 crore. On a quarterly basis, revenue grew 161%, EBITDA rose 235% and PAT increased 530% compared with Q2FY26. Profitability also improved sequentially, supported by operating efficiencies and disciplined cost management.
AESL reaffirmed its standalone revenue growth guidance of 30–40% for FY27. Its standalone order book stood at approximately ₹1,633 crore as of September 30, 2026. A strong pipeline of active bidding opportunities is expected to support future order inflows. The company continues to work towards its longer-term revenue objective of approximately ₹3,000 crore by FY29/FY30.
The company also reported progress on key strategic initiatives. The National Company Law Tribunal (NCLT) approved the proposed Oilmax–AESL merger on September 29, 2026, while the Government has granted in-principle approval. Final government approval is awaited.
Oilmax Energy was awarded the GK Offshore Block under DSF Bid Round IV, marking its entry into offshore exploration and production and adding to the combined group’s upstream portfolio. Oilmax has also secured the Pakro Critical Mineral Mine, which contains vanadium and graphite resources, expanding the group’s presence in strategic minerals.
Dr Kapil Garg, Managing Director, Asian Energy Services Limited, said, “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.”
Sumit Maheshwari, Group CFO, said the company had maintained strong execution across its businesses despite a volatile global environment. He added that its balance sheet and prudent leverage position provided a foundation for pursuing growth opportunities.
Asian Energy Services Limited offers services across the upstream oil and gas value chain, including 2D and 3D seismic geophysical data acquisition, operations and maintenance of onshore and offshore production facilities, production enhancement services and mining solutions. Its mining portfolio includes material handling plants and rapid loading systems. Following its acquisition by Oilmax Energy Private Limited, AESL has expanded its business across the energy and upstream sectors.
