Asian Energy Services Ltd

- Recent fundraising of INR157 crores was completed through issuance of preferential warrants. - This fundraise capitalizes the company well for the next 2-3 years to pursue growth opportunities. - The raised funds will be deployed in oil and gas O&M, coal handling plant (CHP) projects, mineral sector, and potential strategic acquisitions. - No specific mention of any new or upcoming fundraising through debt or equity beyond this recent preferential warrant issue.

- Asian Energy Services has raised INR157 crores via preferential warrants to stay well capitalized for the next 2-3 years. - The capital will be deployed across strategic initiatives in oil and gas operation & maintenance (O&M), coal handling plant (CHP) projects, and the mineral sector. - The company is open to strategic acquisitions to enhance offerings and capabilities specifically in the O&M segment. - Capital allocation will depend on where the best opportunities materialize for long-term value creation. - No specific project-wise capex numbers shared, but strategic expansions both organic and inorganic are planned. - The company is evaluating various opportunities in specialized mining areas, coal sector, and minerals before committing capital.

- Asian Energy Services expects significant growth driven by the coal handling plants (CHP) and mineral sectors, alongside steady opportunities in oil and gas operations and maintenance (O&M). - Government initiatives targeting domestic coal production increase from 1 billion to 1.5 billion tons by FY30 will open large-scale opportunities. - About 75-80 existing coal mines with >2 MTPA capacity still require mechanized coal handling plants. - Additionally, the government plans to open 100 new mines in 4-5 years, expanding project opportunities. - Total potential opportunity size for coal handling plants over the next 4-5 years is estimated around INR20,000 crores. - Q3 and Q4 are expected to be significantly stronger quarters due to seasonal factors, supporting annual revenue guidance of INR450-500 crores for FY25. - Margins are improving with experience and superior contract wins, supporting sustained profitability.

- Strong growth expected in revenue and profits driven by the coal handling plants (CHP) and minerals sector alongside oil & gas operations. - Q2 FY25 revenue grew 115% YoY to INR97.7 crores; H1 FY25 revenue up 73% YoY at INR157.9 crores. - EBITDA margin improved to 15.7% in Q2 FY25 from prior quarters, with confidence in sustaining or improving margins due to better execution and newer tender profiles. - PAT increased eightfold YoY in Q2 FY25 to INR9.3 crores; H1 FY25 PAT at INR11.4 crores vs prior loss. - Order book robust at INR997 crores, with 56% in infrastructure/CHP segment, 33% in O&M, and 11% seismic; significant execution expected in H2 FY25. - Expect Q3 and Q4 FY25 to outperform H1 due to seasonality and increased project execution. - INR157 crore fundraise will support growth initiatives and potential strategic acquisitions. - Long-term CHP opportunity estimated at INR20,000 crores over next 4-5 years; government opening ~100 new coal mines enhances visibility. - Oil & gas O&M opportunities and mineral sector expansions remain key growth pillars.

- Order book as of September 2024 stands at INR 997 crores. - Breakdown of order book: - Coal Handling Plant (CHP) segment: INR 554 crores (56%) - Operation and Maintenance (O&M): INR 333 crores (33%) - Seismic segment: INR 110 crores (11%) - Active tenders and bids: - Participated in tenders worth over INR 500 crores. - L1 (lowest bidder) status achieved in a few projects, including a 3-year O&M contract in Northeast India. - Submitted bids for 1 CHP project and evaluating 1-2 more tenders. - Discussions ongoing with Vedanta for seismic projects. - New orders worth INR 82 crores received from Oil India for 2D seismic data acquisition to be executed over 18 months. - Upcoming opportunities include mechanization of 75-80 existing coal mines (above 2 MTPA) and opening of 100 new coal mines, with an estimated potential INR 20,000 crores in CHP projects over next 4-5 years.