Asian Energy Services Ltd (ASIANENE) — share price & stock analysis

Market cap

₹1,703 Cr

P/E

29.5×

ROE

12.9%

Book value / share

₹110

Revenue (FY26)

₹791 Cr

Profit after tax (FY26)

₹52 Cr

Weinstein stage

Stage 2 (6 weeks)

Data as of

1 July 2026

2 of the 5 things we track are currently moving the right way — most of the dashboard is turning up.

Where the levels actually stand: ROCE 17% — decent; debt moderate (0.32× equity); margins near the top of their band. Momentum says which way things are moving; these say where they are.

Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double, and a quarter of the score comes from our earnings-recovery lens (is the profit cycle turning up off its trough?).

Stage 2: the trend is up, and has been for 6 weeks

Price trends have a life cycle: they base (1), advance (2), top out (3) and decline (4). This chart is in Stage 2: advancing — 6 weeks so far, confirmed.stage

The price sits above its rising 200-day average (₹315 today) and its strength against the index is still improving — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200

Beating NIFTY 500 for 13 weeks — relative strength is the market’s live opinion, and right now it is on this stock’s side.rs_mansfield

What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200

Losses, then a rebuild: profits are at an all-time high

Over 12 years, sales went from ₹122 Cr to ₹791 Cr (about 17% a year), and profit from ₹−23.0 Cr to ₹52.0 Cr.revenuenet_profit

The books show real losses in FY14 and FY15 and FY16 and FY17 and FY23 (worst: ₹−44.0 Cr). Everything about today’s cheap-looking numbers must be read against that history — the recovery is what you are buying.net_profit

Sales exploded 57% last quarter — the 5th straight quarter of growth

Mar 26 sales were ₹338 Cr, up 57% on the same quarter last year.revenue

That makes 5 quarters of growth in a row — this is a trend, not a blip.revenue

Margins have been rebuilt — −17.3% in FY23 to 12.0% now

Of every ₹100 of sales, the company keeps ₹14.1 as operating profit (a year ago it kept ₹14.6).opm_pct

Zoom out and this is the page's quiet hero: annual operating margin bottomed at −17.3% in FY23 and has been rebuilt to 12.0% — that recovery, not sales alone, is what powers the profit growth elsewhere on this page.operating_profit

Profit exploded 44% — mostly from selling more

Mar 26 profit after tax was ₹33.0 Cr, up 44% year on year.net_profit

Profits on paper, cash lagging behind

Over the last 4 profitable years, the business reported ₹159 Cr of profit and collected ₹24.0 Cr of operating cash — about 15% conversion (1 loss year excluded — a negative denominator would flatter the ratio).operating_cash_flownet_profit

The cash cycle is tightening — money comes home faster

One rupee now takes about 160 days to go out the door as materials and come back as collected cash — down from 176 days the year before.cash_conversion_cycle

The biggest mover: customers paying faster (176 → 160 days).debtor_days

Building hard — new capacity is under construction

The productive asset base has gone from ₹117 Cr (FY14) to ₹115 Cr, with another ₹46.0 Cr of capacity under construction right now.fixed_assetscwip

Work-in-progress is 40% of the existing asset base — that is a serious bet on future demand. Capacity like this shows up in sales with a lag; it is tomorrow’s growth being paid for today.cwip

The build is bigger than the cash engine: investing outflows (₹207 Cr) exceeded operating cash (₹−24.0 Cr) over the last 3 years — the difference comes from debt or shareholders.investing_cash_flowoperating_cash_flow

Debt is present but comfortable

For every ₹100 shareholders have put in (and left in), the company has borrowed ₹32 — total borrowings have grown from ₹47.0 Cr to ₹159 Cr over the window.borrowings

Every ₹100 kept in the business earns ₹17 — decent, not special

Return on capital employed is 17.0% (a year ago: 17.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct

Promoter holding dropped in one step — an event, not a slow exit

Promoters hold 56.2% (down 4.8 points over 8 quarters). Foreign funds own 1.2%, domestic funds 0.8%.promoters_pctfiis_pctdiis_pct

The promoter move came in a single step (May 26) — promoters rarely buy on-market, so a jump like this is almost always an allotment, infusion or restructuring: a capital event, not a slow accumulation of conviction. Worth knowing which, before reading it as a signal.promoters_pct

A turnaround that stuck — the question is what’s left to re-rate

The numbers are genuinely mixed, and the price is roughly fair to the delivery so far.

Best thing in the data: cash generation rising (₹−33.0 Cr → ₹53.0 Cr).operating_cash_flow

Biggest worry: debt moving the wrong way (0.06× → 0.32×).borrowings

Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.

Straight answers from the data