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20 Feb 2026
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Asian Energy
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Prabhudas Lilladhar
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354.75
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309.60
(14.58%)
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Not Rated
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Through our recent interaction with the management of Asian Energy Services Ltd (AESL), we gained insights into the company's business and growth strategy. Since the acquisition of AESL by Oilmax Energy Pvt Ltd (OEPL) from Samara Capital in 2016, the leadership team has successfully turned around the business, underscoring the team's strong execution capabilities and deep domain expertise in the O&G sector. The proposed reverse merger of OEPL with AESL is expected to simplify the corporate structure, enhance operational synergies, and strengthen its long-term growth outlook. The management...
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17 May 2018
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Asian Energy
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HDFC Securities
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354.75
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135.00
(162.78%)
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Neutral
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Our fair value for the stock reduces to Rs 166/share (10x Mar 20E EPS) from Rs 312/share. Koral Energy International terminated the five year O&M; contact awarded to Asian Oilfields 100% subsidiary Asian Oilfield & Energy Services DMCC (ADMCC) in Feb-17. This came in as a major negative surprise. The prime reason for contract cancellation is to reduce operating cost.
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30 Nov 2017
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Asian Energy
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HDFC Securities
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354.75
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206.25
(72.00%)
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Not Rated
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Our fair value for the stock is Rs 312 (10x Sep 19E EPS). Post the acquisition and change of management from Samara Capital to Oilmax Energy in August 2016, Asian Oilfield Services (AOS) has undergone a complete transformation. The company witnessed infusion of funds by the new promoters, and debt repayment of Rs 270mn. Also, reconciliation and settlement of old outstanding dues payable/ recoverable resulted in a cleanup of the balance sheet. The new management has focussed on ramping up domestic as well as overseas work contracts worth Rs 12.5bn.
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