Asian Energy Services Ltd

About

Asian Energy Services Ltd is an oilfield service and reservoir imaging company, offering a suite of geophysical services specializing in land and well seismic services and operation and maintenance services for oilfields.[1]
It is one of the few companies providing end-to-end services in the upstream oil segment.[2]

Key Points

Business Areas
1. Seismic Services - The co. is a leading service provider of 2D and 3D Seismic services with extensive industry experience of over 25 years.

Read More
  • Market Cap 512 Cr.
  • Current Price 133
  • High / Low 179 / 83.6
  • Stock P/E 10.7
  • Book Value 60.4
  • Dividend Yield 0.00 %
  • ROCE 19.4 %
  • ROE 17.6 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 27.18% CAGR over last 5 years

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Tax rate seems low
  • Company has high debtors of 199.55 days.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
49.78 42.88 19.23 55.52 86.42 111.86 69.13 31.87 45.52 81.42 76.96 51.63
37.25 36.39 19.13 42.98 59.79 85.49 57.83 21.95 32.37 61.47 51.98 39.33
Operating Profit 12.53 6.49 0.10 12.54 26.63 26.37 11.30 9.92 13.15 19.95 24.98 12.30
OPM % 25.17% 15.14% 0.52% 22.59% 30.81% 23.57% 16.35% 31.13% 28.89% 24.50% 32.46% 23.82%
Other Income -2.09 1.53 -0.23 1.31 -1.82 -1.75 0.84 2.73 1.36 -10.69 1.10 0.37
Interest 1.45 1.08 1.13 0.07 0.57 1.08 0.12 0.11 0.30 0.18 0.23 0.19
Depreciation 5.26 4.50 5.02 4.89 4.89 4.86 5.38 5.52 5.94 6.49 6.86 6.98
Profit before tax 3.73 2.44 -6.28 8.89 19.35 18.68 6.64 7.02 8.27 2.59 18.99 5.50
Tax % 0.00% 1.64% 0.00% 29.25% 27.70% 18.42% 23.64% 4.27% 0.73% 0.39% -8.53% 13.82%
Net Profit 3.73 2.40 -6.28 6.29 13.98 15.24 5.07 6.72 8.21 2.57 20.62 4.73
EPS in Rs 0.98 0.63 -1.65 1.65 3.67 4.00 1.33 1.76 2.16 0.67 5.42 1.23

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
19 64 41 50 122 141 78 124 222 194 273 229 256
16 59 48 54 124 146 101 140 182 161 207 173 185
Operating Profit 2 6 -6 -4 -2 -6 -24 -16 41 33 67 55 70
OPM % 13% 9% -15% -9% -2% -4% -30% -13% 18% 17% 24% 24% 28%
Other Income 1 -3 4 6 2 6 27 21 -7 1 -3 -7 -8
Interest 0 1 2 3 9 9 11 8 6 6 3 1 1
Depreciation 4 9 9 9 14 18 18 15 17 19 20 23 26
Profit before tax -1 -7 -13 -10 -23 -27 -25 -18 10 9 41 25 35
Tax % -70% -2% 32% 1% -0% -0% -7% -1% 2% 1% 28% 8%
Net Profit -1 -8 -9 -10 -23 -27 -27 -18 10 9 29 23 36
EPS in Rs -0.59 -4.93 -5.90 -6.71 -10.50 -12.10 -12.12 -6.98 2.71 2.39 7.68 5.93 9.48
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 14%
5 Years: 24%
3 Years: 1%
TTM: -15%
Compounded Profit Growth
10 Years: 47%
5 Years: 27%
3 Years: 18%
TTM: 5%
Stock Price CAGR
10 Years: 14%
5 Years: 4%
3 Years: 14%
1 Year: 46%
Return on Equity
10 Years: -3%
5 Years: 11%
3 Years: 16%
Last Year: 18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
15 15 15 15 22 22 22 26 38 38 38 38 38
Reserves 85 76 67 57 43 15 -12 8 102 114 144 166 194
Borrowings 0 11 20 27 47 70 110 83 28 10 0 2 4
15 19 12 21 61 43 50 93 84 56 126 140 106
Total Liabilities 116 122 114 120 173 150 171 209 252 218 308 346 342
40 42 39 38 117 106 95 83 100 87 90 132 124
CWIP 1 4 0 4 8 0 0 0 0 0 0 0 0
Investments 40 4 11 6 0 0 0 0 0 0 0 0 0
35 72 64 72 48 44 75 126 152 132 218 214 218
Total Assets 116 122 114 120 173 150 171 209 252 218 308 346 342

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
1 -8 -6 -11 15 -8 -1 -18 27 27 89 -17
-25 22 -13 -3 -45 -12 -2 -4 -29 -19 -11 -33
24 10 10 5 30 18 9 42 -17 -15 -17 1
Net Cash Flow 1 24 -9 -9 -0 -2 5 20 -19 -7 61 -50

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 194 144 164 112 33 49 202 81 101 112 118 200
Inventory Days
Days Payable
Cash Conversion Cycle 194 144 164 112 33 49 202 81 101 112 118 200
Working Capital Days 320 141 219 239 33 15 21 42 48 69 -21 62
ROCE % 1% -10% -7% -12% -16% -11% -23% 19% 10% 29% 19%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
59.61 59.61 59.61 59.61 59.61 59.61 59.61 59.61 59.61 59.61 59.61 59.61
0.17 0.17 0.17 0.14 0.08 0.07 0.07 0.07 0.07 0.00 0.00 0.08
40.21 40.21 40.21 40.25 39.31 39.32 39.32 39.32 39.32 39.39 39.39 40.14
0.00 0.00 0.00 0.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.16

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