Asian Energy Services Limited · NSE:ASIANENE
Asian Energy Services — FY2026 Earnings Presentation
50 slides from Asian Energy Services's earnings presentation, May 19, 2026
Slide 1: Exchange filing cover letter for investor presentation
Date: 19th May, 2026 To, To, The Listing Department, The Listing Department, BSE Limited, National Stock Exchange of India Limited, Floor 25, P. J. Towers, Exchange Plaza, Plot No. C/1, G Block, Bandra Dalal Street, Mumbai 400 001 Kurla Complex, Bandra (East), Mumbai 400 051 BSE Scrip Code: 530355 T
Slide 2: Investor Presentation May-2026
INVESTOR PRESENTATION May-2026 ASIAN ENERGY SERVICES LIMITED (AESL)
Slide 3: Safe Harbor
Safe Harbor This presentation has been prepared by and is the sole responsibility of Asian Energy Services Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitation
Slide 4: Table of Content
Table of Content ASIAN ENERGY SERVICES LTD (AESL) 01 Management Outlook Q4 & FY26 Performance Highlights 02 Industry Overview 03 Our Strategy & Way Forward 04 Business Overview 05 Overview of Proposed Merger INVESTOR PRESENTATION 06 CSR Initiatives and Environmental & Safety Initiatives ASIAN ENERGY
Slide 5: Management Outlook - Kapil Garg
Management Outlook ASIAN ENERGY SERVICES LTD (AESL) Kapil Garg MANAGING DIRECTOR ‘‘ FY26 has been a landmark year for Asian Energy, driven by the Kuiper acquisition and initiation of the Oilmax merger. These developments strengthen our integrated energy platform at a time when West Asia conflict has
Slide 6: Management Outlook - Sumit Maheshwari
Management Outlook ASIAN ENERGY SERVICES LTD (AESL) Sumit Maheshwari GROUP CFO ‘‘ In FY26, our consolidated revenue and Profit After Tax have grown significantly over the past year. Our Q4FY26 standalone revenue was impacted (~75 crore) due to supply chain disruptions (West Asia conflict) and client
Slide 7: FY26: Highlights of a Landmark Year
FY26: Highlights of a Landmark Year ASIAN ENERGY SERVICES LTD (AESL) Kuiper’s acquisition and consolidation during FY26 materially expanded Asian Energy’s international platform, 01 particularly in the Middle East Oilmax Merger Status: NCLT convened shareholders meeting scheduled in June 2026; Merge
Slide 8: Q4 & FY26 Performance Highlights
Q4 & FY26 Performance Highlights ASIAN ENERGY SERVICES LIMITED (AESL) 7
Slide 9: Performance Highlights Consolidated – Q4 & FY26
Performance Highlights Consolidated – Q4 & FY26 ASIAN ENERGY SERVICES LTD (AESL) Rs in Crore Revenue EBITDA PAT * 791.1 60.6 98.9 70.1% 72.4 36.6% 42.2 43.6% 465.0 34.6 49.4 53.8% 338.2 57.0% 46.6% 22.5 33.7 215.4 FY25 FY26 Q4FY25 Q4FY26 FY25 FY26 Q4FY25 Q4FY26 FY25 FY26 Q4FY25 Q4FY26 INVESTOR PRESE
Slide 10: Performance Highlights Standalone – Q4 & FY26
Performance Highlights Standalone– Q4 & FY26 ASIAN ENERGY SERVICES LTD (AESL) Rs in Crore Revenue EBITDA EBITDA Margin PAT* 18.6% 20.5% 38.6 18.60 % 214.5 24.7 30.8 207.1 420 bps 20.5 25% 20.5% (3.4%) 14.40 % Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Revenue EBITDA EBITDA Margin PAT* 4
Slide 11: Segmental Performance – Q4 & FY26
Segmental Performance – Q4 & FY26* ASIAN ENERGY SERVICES LTD (AESL) (Rs in Crore) Operational Update OIL AND GAS MINERAL AND OTHER ENERGY SERVICES 632.8 Oil & Gas segment : 272.6 • ~68% of the current order book is from oil & gas, Revenue 158.3 supporting revenue visibility 256.0 192.4 109.1 and mar
Slide 12: Consolidated Profit & Loss Statement - Q4 & FY26
Consolidated Profit & Loss Statement - Q4 & FY26 ASIAN ENERGY SERVICES LTD (AESL) Particulars (Rs. Crore) Q4FY26 Q4FY25 Y-o-Y Q3FY26 Q-o-Q FY26 FY25 Y-o-Y Revenue from Operations 338.2 215.4 57.0% 235.4 30.4% 791.1 465.0 70.1% Project Related Expenses 265.1 177.0 183.0 622.2 368.7 Employee Expenses
Slide 13: Consolidated Balance Sheet - FY26
Consolidated Balance Sheet - FY26 ASIAN ENERGY SERVICES LTD (AESL) Assets Mar-26 Mar-25 Liabilities Mar-26 Mar-25 Non Current assets Equity Property, Plant and Equipment 113.5 114.9 Capital work-in-progress 46.1 2.6 Equity Share capital 44.9 44.7 Intangible assets 0.3 0 Other Equity 449.3 354.0 Inta
Slide 14: Financial Performance – Over The Years
Financial Performance – Over The Years ASIAN ENERGY SERVICES LTD (AESL) Rs in Crore Revenue EBITDA 791.1 98.9 465.0 72.4 43.4 305.1 110 -18.1 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 PBT PAT 68.9 56.2 28.7 51.9 42.2 25.5 INVESTOR PRESENTATION -44.6 -44.4 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 13
Slide 15: From ₹110 Cr to ₹791 Cr: Three Years Of Compounding Growth
From ₹110 Cr to ₹791 Cr: Three Years Of Compounding Growth ASIAN ENERGY SERVICES LTD (AESL) Since 2016, AESL has consistently evolved, adapting to industry demands and CHARTING NEW TERRITORIES exploring new avenues. We have successfully transformed into an integrated energy services provider with a
Slide 16: Industry Overview
Industry Overview A SIA N EN ER GY SER VIC ES L IMIT ED ( A ESL ) 15
Slide 17: Current Industry Landscape: Oil & Gas And Minerals
Current Industry Landscape: Oil & Gas And Minerals ASIAN ENERGY SERVICES LTD (AESL) Oil & Gas Industry Rs 30,443 crore India's crude oil demand Government's initiative Additional field bidding allocated to Ministry of to rise from 5.4 mn BPD like HELP* framework rounds by Central Govt. Petroleum & N
Slide 18: West Asia In Crisis - And Why It Accelerates Our Growth
West Asia In Crisis - And Why It Accelerates Our Growth ASIAN ENERGY SERVICES LTD (AESL) A supply chain calibration reshaping global energy investment flows · AESL well positioned for opportunity Elevated Oil Prices + Energy West Asia Conflict Aatmanirbhar Bharat Security Disrupts Global Energy Supp
Slide 19: Forces Driving India's E&P Supercycle
Forces Driving India's E&P Supercycle ASIAN ENERGY SERVICES LTD (AESL) Atmanirbhar Bharat, HELP, OALP/DSF reforms and royalty rationalisation can unlock a stronger domestic E&P investment cycle — creating opportunities for Asian Energy ADVANTAGES FOR ASIAN ENERGY Policy reforms improve upstream econ
Slide 20: Our Strategy & Way Forward
Our Strategy & Way Forward ASIAN ENERGY SERVICES LIMITED (AESL) 19
Slide 21: Three Engines Driving The Next Phase Of Growth
Three Engines Driving The Next Phase Of Growth ASIAN ENERGY SERVICES LTD (AESL) Asian Energy Kuiper Group Oilmax (Post Merger) Integrated oil & gas services emerging Provides Asian Energy a presence across Adds upstream oil & gas assets with as key growth driver, led by Vedanta the Middle East and S
Slide 22: Future Growth Outlook: Sustainable + Scalable + Strengthened
Future Growth Outlook: Sustainable + Scalable + Strengthened ASIAN ENERGY SERVICES LTD (AESL) Asian Energy Kuiper Group Oilmax (Post Merger) ~Rs.1,750 Cr ~Rs. 600 Cr ~10,000 BOPD Asian Energy Kuiper Oilmax Asset Order Book Annualized Revenue Peak Production • Strong base for next 2-3 years • Scalabl
Slide 23: Our Growth Journey: From Project Execution To Platform
Our Growth Journey: From Project Execution To Platform ASIAN ENERGY SERVICES LTD (AESL) Evolving from project-based Building an integrated Improving earnings quality Expanding via an asset-light execution to recurring, platform across oil & gas through long-duration model, supported by India’s servi
Slide 24: Opportunities in the Pipeline
Opportunities in the Pipeline ASIAN ENERGY SERVICES LTD (AESL) DSF Bid Round - 4, CHP projects, already L1 in Integrated services Tie-ups with global industry submitted bids for 3 one tender opportunities, production majors for expanded contract areas enhancement contracts services offering INVESTOR
Slide 25: Business Overview
Business Overview A SIA N EN ER GY SER VIC ES L IMIT ED ( A ESL ) 24
Slide 26: Two Business Verticals: Integrated O&G And Mining
Two Business Verticals: Integrated O&G And Mining ASIAN ENERGY SERVICES LTD (AESL) Business Verticals Integrated Oil & Gas Mining INVESTOR PRESENTATION Vertical Vertical O PERATING ACRO SS THE M A TE RIA L HA NDLING E&P VALUE CHAIN AESL has diversified offerings across the SYSTEMS energy spectrum, a
Slide 27: End-to-end Coverage across the Upstream Value Chain
End-to-end Coverage across the Upstream Value Chain ASIAN ENERGY SERVICES LTD (AESL) Asian Energy operates as an integrated player, providing end-to-end solutions to E&P industry Exploration Development Production Abandonment • Geological Studies • Detailed Engineering • Production • Seismic Activit
Slide 28: From Service Provider To Integrated Upstream Platform
From Service Provider To Integrated Upstream Platform ASIAN ENERGY SERVICES LTD (AESL) 1 2 3 4 Operation & 5 Deployment Exploration ▶ Development ▶ Production ▶ Maintenance ▶ Find it Build it Produce it Run it Staff it Exploration & Integrated Field Upstream & Mineral Operations & Global Manpower &
Slide 29: A Decade and more of Progress, Rejuvenation and Evolution
A Decade and more of Progress, Rejuvenation and Evolution ASIAN ENERGY SERVICES LTD (AESL) • Oilmax acquired • Acquired 50% PI in • Acquisition of Kuiper • Started production Asian Energy from Amguri, raised • Awarded Quartzite block in from Indrora field PE fund • Forayed into Uttarkashi mineral se
Slide 30: Strategic Diversification
Strategic Diversification ASIAN ENERGY SERVICES LTD (AESL) From being a seismic-focused company, we have strategically diversified into a broader spectrum of services, driving sustainable growth and business stability Asian Energy Services Oilmax era Visibility & Model Shift The acquisition by Oilma
Slide 31: Oilmax-Asian and Kuiper: Presence across India & the World
Oilmax-Asian and Kuiper: Presence across India & the World ASIAN ENERGY SERVICES LTD (AESL) INVESTOR PRESENTATION 30
Slide 32: Trusted By India's And The World's Energy Leaders
Trusted By India's And The World's Energy Leaders ASIAN ENERGY SERVICES LTD (AESL) INVESTOR PRESENTATION 31 *Brand names and logos mentioned are the property of their respective owners and are for identification purposes only
Slide 33: Mewad Field: Oil Discovery Converting To Production Ramp
Mewad Field: Oil Discovery Converting To Production Ramp ASIAN ENERGY SERVICES LTD (AESL) Successful Oil Discovery 01 NM-01 in Mewad field currently producing approx 100 bopd from Sobhasan sand with potential production rates of 150 bopd. NM-02 well successfully drilled in Mewad field, currently tes
Slide 34: ₹1,750 Crore Order Book: Strong Revenue Visibility
₹1,750 Crore Order Book: Strong Revenue Visibility ASIAN ENERGY SERVICES LTD (AESL) Mineral Services Integrated Oil & Gas Services 32% Order Book 68% Order Book ~Rs 566 crore Order Value ~Rs 1,184 crore Order Value INVESTOR PRESENTATION Standalone Order Book worth ~ Rs 1,750 crore (excluding Kuiper)
Slide 35: Kuiper: 20+ Years Connecting Global Energy Projects
Kuiper: 20+ Years Connecting Global Energy Projects ASIAN ENERGY SERVICES LTD (AESL) Kuiper is a global provider of diverse, fully-integrated human resources and recruitment solutions to the energy industry, with an exemplary track record in serving some of the world’s biggest projects and companies
Slide 36: Kuiper: First Phase of Consolidation
Kuiper: First Phase of Consolidation ASIAN ENERGY SERVICES LTD (AESL) First Year of Consolidation Integration Successfully 01 02 FY26 marks the first year of Kuiper's Completed financial consolidation, with performance Post-acquisition integration has been now starting to reflect in reported numbers
Slide 37: OilMax Energy: The Upstream Asset Engine
OilMax Energy: The Upstream Asset Engine ASIAN ENERGY SERVICES LTD (AESL) Exploration Drilling Development & Sales Full upstream expertise ~70 Million Barrels ₹ Hydrocarbon Reserves Robust financials Likely to increase manyfold Create a Business Diversified Portfolio INVESTOR PRESENTATION Model of L
Slide 38: Oilmax: Proven Track Record Of Value Creation
Oilmax: Proven Track Record Of Value Creation ASIAN ENERGY SERVICES LTD (AESL) Current Estimated Peak Asset Value Creation Status Production per day Overview • Field shut-in for more than 10 years Amguri • Restarted production in a record 50 days during COVID 1850 BOE 3000 BOE Assam Production per d
Slide 39: Seasoned Board of Directors
Seasoned Board of Directors ASIAN ENERGY SERVICES LTD (AESL) Dr. Kapil Garg Managing Director Mr. N. M. Borah Mr. Anil Kumar Jha Mrs. Anusha Mehta Independent Director Independent Director Independent Director INVESTOR PRESENTATION Mr. Parikshit Dutta Dr Rabi Bastia Mr. Aman Garg 38 Non-executive No
Slide 40: Group Leadership Team Built To Execute At Scale
Group Leadership Team Built To Execute At Scale ASIAN ENERGY SERVICES LTD (AESL) Dr. Kapil Garg Managing Director Mr. Anish Garg Mr. Himanshu Naharas Dr. Rabi Bastia Mr. Aman Garg Director CEO - Kuiper CEO – E&P Director INVESTOR PRESENTATION Mr. Sumit Maheshwari Mr. Scott McIlwraith Mr. Sadhan Bane
Slide 41: Overview of Proposed Merger
Overview of Proposed Merger ASIAN ENERGY SERVICES LIMITED (AESL) 40
Slide 42: Post-merger: Four Pillars, One Integrated Energy Platform
Post-merger: Four Pillars, One Integrated Energy Platform ASIAN ENERGY SERVICES LTD (AESL) Financial Snapshot Asian Energy Services Ltd (Merged) Oil, Gas and Energy Mineral Assets Services • Natural resource • Global Integrated INVESTOR PRESENTATION • Integrated Oil & Gas Services ownership Resourci
Slide 43: Merger Progress: Expected Completion in FY27
Merger Progress: Expected Completion in FY27 ASIAN ENERGY SERVICES LTD (AESL) Timeline Board Board approval approval Filing of application with SE / SEBI and other appropriate authorities SE / SEBI Approval process: SE / SEBI and appropriate authorities / RBI approval Regulatory approvals including
Slide 44: OilMax-AESL: Merger Benefits
OilMax-AESL: Merger Benefits ASIAN ENERGY SERVICES LTD (AESL) Overview Strategic Fit & Business Synergies Growth & Market Leadership Operational Efficiencies & Cost Synergies Financial Strengths INVESTOR PRESENTATION Simple Structure and Improved Corporate Governance 43
Slide 45: CSR Initiatives and Environment & Safety Initiatives
CSR Initiatives and Environment & Safety Initiatives A SIA N EN ER GY SER VIC ES L IMIT ED ( A ESL ) 44
Slide 46: CSR Initiatives
INVESTOR PRESENTATION ASIAN ENERGY SERVICES LTD (AESL) 45 CSR Initiatives
Slide 47: CSR Initiatives
CSR Initiatives ASIAN ENERGY SERVICES LTD (AESL) INVESTOR PRESENTATION 46 Supporting local causes across all the diverse regions where we operate
Slide 48: Environment & Safety Initiatives
Environment & Safety Initiatives ASIAN ENERGY SERVICES LTD (AESL) FIRE SAFETY DAY CELEBRATION INVESTOR PRESENTATION NATIONAL SAFETY WEEK CELEBRATION 47
Slide 49: Glossary
Glossary ASIAN ENERGY SERVICES LTD (AESL) Term Description BBL Barrels BOPD Barrels of Oil Per Day BOEPD Barrels of Oil Equivalent Per Day O&M Operations and Management CHP Coal Handling Plant MCL Mahanadi Coalfields Limited OAPL Open Acreage Licensing Policy DSF Discovered Small Fields INVESTOR PRE
Slide 50: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : Asian Energy Services Limited Investor Relation Advisors: CIN – L23200MH1992PLC318353 Adfactors PR Private Limited Contact Details : Investor.relations@asianenergy.com Mr. Parth Chauhan +91 22-42441100 Parth.chauhan@adfa