Asian Energy rises after bagging Rs 187.62 crore GSECL EPC contract

Asian Energy Services jumped 3.16% to Rs 374 after the company said that it has secured an engineering, procurement and construction (EPC) contract worth Rs 187.62 crore from Gujarat State Electricity Corporation (GSECL).

The contract involves capacity enhancement of the coal handling plant (Stage-II) at the Ukai Thermal Power Station in Gujarat. The project will be executed on a lump-sum EPC basis and covers engineering, procurement, construction and commissioning activities. The project is expected to be executed over a period of 2-3 years.

The company said the order marks its first major contract outside Coal India and its subsidiaries and associates, representing a strategic diversification of its client base into state utility-led infrastructure projects.

Asian Energy Services provides services across the energy and mining sectors, including oil & gas field operations, seismic data acquisition, and mineral infrastructure projects such as coal handling and material handling systems.

The company's consolidated net profit rose 41.92% to Rs 31.96 crore on a 56.99% increase in revenue from operations to Rs 338.23 crore in Q4 FY26 as compared with Q4 FY25.

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