Asian Energy Services reports H1 FY26 growth, strengthens global presence

Asian Energy Services Limited (AESL) announced 38% revenue growth in H1 FY26, reaching INR217.4 crores, with an EBITDA of INR21.1 crores. Q2 FY26 revenue stood at INR102 crores, though EBITDA margins declined to 8.9% due to unseasonal monsoon conditions and one-time acquisition expenses for the Kuiper Group. Excluding these non-recurring impacts, both Kuiper and AESL delivered positive PAT on a stand-alone basis.

The company successfully acquired Kuiper Group, consolidating its financials from September 1, 2025, with Kuiper currently operating at a monthly revenue run rate of approximately INR40 crores. AESL also initiated a merger by absorption of Oilmax Energy Private Limited to create a unified entity and pursue larger integrated opportunities.

AESL's order book remains robust at over INR2,000 crores, excluding taxes and the Kuiper portfolio, with O&M contributing 62.4%. Key new contracts include a coal handling plant valued at approximately INR459 crores and an integrated services contract from Vedanta Limited valued at around INR865 crores. The company expects strong performance in the second half of the year to meet its full-year guidance.