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Asian Energy Services Reports Strong FY25 Growth, Acquires Kuiper Group to Boost Regional Expansion

Asian Energy Services, specializing in servicing the energy and mining sectors, posted a robust 52% revenue growth in FY25, reaching INR 465 crore. Q4 FY25 revenue surged 81% year-on-year to INR 215.4 crore. The company reported an EBITDA of INR 72.3 crore for FY25 with a margin of 15.5%, marking a 67% improvement YoY, and Q4 EBITDA grew 35% YoY to INR 33.5 crore with a 15.7% margin. Profit After Tax (PAT) increased 65% to INR 42.2 crore for FY25 and Q4 PAT rose 54% YoY to INR 22.6 crore.

Asian Energy Services holds a strong order book of approximately INR 973 crore as of March 31, 2025, mainly from O&M (56%), Infrastructure/CHP (36%), and Seismic (8%) segments. The company strengthened its capital base by raising INR 157 crore through preferential warrants in FY25.

A key development was the acquisition of Kuiper Group, UAE, from Gulf Capital for USD 9.25 million. Kuiper, with revenues around USD 68 million in CY2024, is expected to significantly enhance Asian Energy Services’ O&M capabilities and market reach in the Middle East and Southeast Asia. Managing Director Kapil Garg highlighted that Kuiper’s addition will broaden services and access to new geographies.

For FY26, the company targets revenue growth of 40-50% over FY25 (excluding Kuiper), aiming for INR 650-700 crore. Updated guidance will be provided once the Kuiper acquisition is fully integrated.