Rs 832 Crore Order Book: Oil Drilling Company Bags Order Worth Rs 37,71,00,000 from Sun Petrochemicals; FIIs and DIIs Increase Stake!

Rakesh Deshmukh
Rs 832 Crore Order Book: Oil Drilling Company Bags Order Worth Rs 37,71,00,000 from Sun Petrochemicals; FIIs and DIIs Increase Stake!

The company’s shares have delivered a return of over 140 per cent to its shareholders in just 1 year only.

Sun Petrochemicals Private Limited has awarded Asian Energy Services Limited a Letter of Award (LOA) for 3D Seismic Data Acquisition and Processing Services for Sunpetro’s fields/blocks located in Gujarat. The value of the LOA amounts to Rs 37.71 crores, excluding GST, and the work is scheduled to be completed within a span of 6 months.

AESL, an oilfield service and reservoir imaging company, specializes in offering a comprehensive suite of geophysical services, with a focus on land and well seismic services, as well as operation and maintenance services for oilfields. Renowned for providing end-to-end solutions in the upstream oil segment, AESL stands out as one of the select companies offering such extensive services.

Mr. Kapil Garg, the Managing Director of Asian Energy Services Ltd., expressed his satisfaction with the recent order win, stating, "Securing this contract from Sun Petrochemicals Private Limited marks a significant achievement for AESL, particularly as our first Seismic contract of the Financial Year. This success not only underscores our leadership position in the seismic services domain but also signifies the influx of new work orders.

Also read Under Rs 100: This Small-Sized Company Bags Order from CIPLA, Stock Gains Over 620% in Just 1 Year!

Share Performance:

Today, the company’s stock closed at Rs 281.25. The company’s current market capitalization stands at Rs 1151 crore. The stock has delivered a multibagger return of around 140 per cent in just 1 year.

Financial performance:

According to the Quarterly Results, in Q4 FY24, the company reported a revenue of Rs 119 crore and an operating profit of Rs 25 crore. The operating profit margin for the quarter stands at 21 per cent. The company’s net profit stood at Rs 15 crore. In FY24, the company reported a revenue of Rs 305 crore compared to Rs 110 crore and a net profit of Rs 26 crore, compared to a loss of Rs 44 crore in the previous year.

Investors must keep this Small-Cap stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.

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