Asian Energy Services Limited — Updates, 12-11-2024: Press Release

Asian Energy Services reported its highest-ever quarterly results, reflecting significant growth for Q2FY25. Revenue increased by 115% YoY to ₹97.7 crore, with total revenue for H1FY25 rising 73% to ₹157.9 crore. EBITDA for H1FY25 reached ₹21.6 crore, showcasing a tenfold improvement YoY, while Q2FY25's EBITDA expanded to ₹15.3 crore, indicating a margin of 15.7%. The company achieved a PAT of ₹9.3 crore in Q2FY25, an eightfold increase compared to the previous year.

The order book stands robust at ₹997 crore, supported by a recent ₹82 crore order from Oil India for 2D seismic data acquisition. The company is well-capitalized after raising ₹157 crore through preferential warrants, allowing it to focus on growth opportunities in oil and gas O&M and mineral sectors. Overall, Asian Energy Services is positioned for positive momentum, with FY25 revenue projected between ₹450-500 crore. Investors should watch closely for the company's strategic expansion and performance in emerging markets.