Transcript of the Earnings Conference Call pertaining to financial results for Q4 & FY 26 held on 20th May, 2026.
ASIANENE · price
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Asian Energy Services reported FY '26 revenue of INR791 crores (up 70% YoY) and EBITDA of INR99 crores (up 37% YoY) with 12.5% EBITDA margin. Q4 FY '26 revenue came in at INR338 crores with 14.6% EBITDA margin. The company proposed a dividend of INR1.25 per share. Management flagged that Q4 faced disruptions from the West Asia conflict causing supply chain issues and client-side delays, leading to some revenue deferral into FY '27. The order book stands at INR1,750 crores (excluding Kuiper). The Oilmax merger has received SEBI approval with NCLT meeting scheduled for June 2026 and expected closure by September/October 2026. Production ramp-up at Mevad and Indrora fields targeting 1,000 BOPD by FY '27. Kuiper Group contributed for 7 months in FY '26 and is guiding for $60-65 million revenue in FY '27.
Strong revenue growth and order book provide visibility, but Q4 guidance miss due to geopolitical disruptions may weigh on near-term sentiment. The Oilmax merger completion and production ramp-up from new fields are key near-term catalysts.