Small cap stock engaged in offering a suite of geophysical services specializing in land and well seismic services and operation & maintenance services for oilfields and others jumps 3 percent upon receiving a work order worth Rs. 37.71 Crores.
With a market capitalization of Rs. 1,170 Crores, the shares of Asian Energy Solutions Limited were trading at Rs. 286 per equity share, up 1.69 percent from its previous day’s close price of Rs. 281.25.
Asian Energy Solutions Limited has received a Letter of Award from Sun Petrochemicals Private Limited for providing 3D Seismic Data Acquisition and Processing Services for Sunpetro’s fields/blocks in Gujarat for a consideration of Rs. 37.71 Crores and the order should be executed in 6 months.
Mr. Kapil Garg, Managing Director, Asian Energy Services Ltd., speaking about the order win said, This is the first Seismic contract we have secured in this Financial Year from Sun Petrochemicals Private Limited. This not only shows our leadership position in the seismic services field but also indicates an inflow of new work orders.
Asian Energy Solutions Limited is engaged in the business of providing services to the energy and minerals sector. It is an oilfield service and reservoir imaging company, offering a suite of geophysical services specializing in land and well seismic services and operation & maintenance services for oilfields
Its services include geophysical data acquisition (seismic), turnkey drilling, production facility construction (EPC) and facility operation and maintenance, on-site data processing, enhanced oil recovery services, seismic consulting and interpretation, and wireless seismic and data acquisition, and many more services.
Its revenue from operations grew by 313.84 percent from Rs. 28.69 Crores in Q4FY23 to Rs. 118.73 Crores in Q4FY24, accompanied by a loss of Rs. 6.7 Crores to a profit of Rs. 14.67 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 11.4 percent and a return on capital employed (ROCE) of 12.5 percent. It has reported a debt-to-equity ratio of 0.08.
Written by: Bharath K.S
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