Asian Energy Services Limited specializing in servicing the energy and mining sector, has announced unaudited financial results for the quarter and the half year ended 30th September 2024.
- In H1 FY25, the company achieved a total revenue of Rs 157.9 crores, a 73% growth compared to H1 FY24. In Q2 FY25, the revenue surged to Rs 97.7 crores, marking a 115% increase over Q2 FY24
- For H1 FY25, EBITDA stood at Rs 21.6 crores with a margin of 13.7%, reflecting a 10 times improvement YoY. In Q2 FY25, EBITDA increased to Rs 15.3 crores, with an improved margin of 15.7%, showcasing significant growth from both Q2 FY24 and Q1 FY25
- PAT for H1 FY25 reached Rs 11.4 crores, a turnaround from a loss of Rs 1.8 crores in H1 FY24. In Q2 FY25, PAT soared to Rs 9.3 crores, 8 times increase YoY
KeyHighlights– Q2& H1 FY25
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- Achieved highest-ever Q2 revenue with 115% YoY growth to Rs 97.7 crore in Q2FY25; H1FY25 revenue grew by 73% to Rs 157.9 crore, up from Rs 91.5 crore in H1FY24
- Raised Rs 157 crores through preferential warrants, ensuring we remain well-capitalized as we pursue opportunities in oil & gas O&M, CHP projects, and the minerals sector, strengthening our financial position, supporting growth, and positioning us for strategic expansion both organically and through acquisitions to enhance our market presence and drive long-term success
- In September, we received a two-year holiday order from ONGC. We promptly obtained interim stay from the Bombay High Court and are actively working to resolve the matter amicably
- During the quarter, we secured a new order valued at Rs 82 crore including GST, from Oil India for 2D seismic data acquisition in the Rajasthan Basin. The total order book as of now is ~Rs 997 crores, 55.6% attributable to Infra or CHP, 33.4% to Operations & Maintenance, 11.0% to Seismic
- FY25 revenue is expected to be in range of Rs 450-500 crores
MANAGEMENT COMMENTARY
Dr. Kapil Garg, Managing Director, Asian Energy Services Limited said, “ I am pleased to report that we have achieved our highest-ever revenue performance for the first half of the fiscal year, as well as a record-breaking second quarter. For H1 FY25, we recorded revenue of Rs 157.9 crore, marking a 73% YoY increase. In Q2 FY25, our revenue reached Rs 97.7 crore, a highest ever for any second quarter in our history with an impressive 115% growth YoY. This achievement underscores our best Q2 performance to date, driven by focused execution in our Coal Handling Plant (CHP) projects and strong momentum in our ongoing Operation & Maintenance (O&M) contracts.
During the quarter, we secured a new order valued at Rs 82 crore including GST, from Oil India for 2D seismic data acquisition in the Rajasthan Basin. This project is set to be executed over the next 18 months. Additionally, we raised Rs 157 crores through preferential warrants, ensuring we remain well-capitalized as we pursue opportunities in oil & gas O&M, CHP projects, and the minerals sector, strengthening our financial position, supporting growth, and positioning us for strategic expansion both organically and through acquisitions to enhance our market presence and drive long-term success. In addition to ongoing Coal Handling Plant (CHP) projects, new opportunities are emerging within the mineral sector, allowing us to further expand our material handling business. This strategic approach enables us to leverage our expertise and broaden our service offerings across the mineral and energy industries. ”