Rs 1,150 Crore Order Book: Small-cap Debt-free Energy Services Stock Soars 7.69 Per Cent, Company Announces USD 9.25 Million Kuiper Group Acquisition to Boost Global O&M Footprint
Over the past year, the stock has delivered a return of 16.59 per cent, while the 3-year return stands at 178.93 per cent.
Asian Energy Services Limited surged 7.69 per cent intraday to close at Rs 321.45, marking a sharp gain of Rs 22.95 from its previous close of Rs 298.50. The stock rallied after the company announced the acquisition of Kuiper Group
Asian Energy Services Limited announced the acquisition of Kuiper Group, UAE provider of integrated manpower solutions for the energy sector, for USD 9.25 million. The acquisition will be done from the internal accruals and debt. The estimated revenue of Kuiper Group in 2024 was around USD 68 million, and the company is present in the Middle East and Southeast Asia. This move is part of Asian Energy's plan to expand its operations and maintenance services internationally by using Kuiper's presence in energy-rich countries such as Saudi Arabia, Qatar and the UAE.
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Commenting on this, Mr Kapil Garg, Managing Director, Asian Energy Services Limited said, “The acquisition of Kuiper Group marks a pivotal milestone in Asian Energy Services’ journey to expand its footprint across key energy markets in the Middle East and Southeast Asia. This strategic move enables us to participate more actively in global energy projects and establish a scalable, future-ready platform for long-term growth. Kuiper Group’s strong presence in these regions will serve as a foundation for Asian Energy to broaden its integrated O&M services offering. We also aim to support and grow Kuiper’s existing business. I warmly welcome Kuiper’s management team and employees to the Asian Energy family and look forward to working together following the completion of the acquisition."
Asian Energy Services Ltd is one of the leading oilfield services and reservoir imaging companies offering a wide range of geophysical services including land and well seismic services and operation and maintenance services for oilfields. The company has its holding company as Oilmax Energy and has operations in the upstream oil and gas value chain. Asian Energy has two main business segments: Oil & Gas, which contributes to 58 per cent of its revenue in FY24 and Mining Services, which was a significant 65% increase between FY22 and FY24.
The company is shifting from cyclical to stable business models and is focusing on long-term contracts. The services include seismic services, oil and gas production and operation and maintenance solutions. Asian Energy has a strong order book of Rs 1,150 crore (as of December 2024)and is expected to grow because of its focus on production ramp up in its oilfields and production enhancement contracts. The company works with major clients such as ONGC, Vedanta and Oil India Ltd and is in the process of expanding its energy infrastructure business.
As of April 17, 2025, the stock price of Asian Energy Services Limited stood at Rs 323.7. The stock has recorded a 52-week high of Rs 432.05 and a 52-week low of Rs 217. The company's market capitalisation is reported at Rs 1,439 crore. Over the past year, the stock has delivered a return of 16.59 per cent, while the 3-year return stands at 178.93 per cent. The price-to-earnings (PE) ratio is currently at 48.01.
Among the major public shareholders, Chartered Finance & Leasing Limited holds a 4.24 per cent stake. Anantroop Financial Advisory Services Private Limited owns 1.68 per cent, while Meenakshi Mohit Agrawal and Harit Exports Pvt Ltd each hold a 1.12 per cent stake in the company.
Disclaimer: The article is for informational purposes only and not investment advice.