Aakash Exploration Services Ltd.
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ABOUT
AI Sector View
AI GENERATEDOil Gas & Consumable Fuels
Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.
PROS
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.94x)
- Working capital cycle has improved - days down from 23 to -11
- Company maintains a comfortable, low leverage position
CONS
- A large part of profit comes from other income (62.4% of PBT)
- Company has a low return on capital employed of 9.7%
- Company has a low return on equity of 7.8% over last 3 years
- Company has delivered a poor profit growth of -17.6% over past five years
- Operating margins have contracted to 10.3% from 20.6%
- Company has delivered a poor sales growth of 7.8% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ONGC | 233.80 | 6.76 | 294126.93 | 5.67 | 6554.44 | -43.27 | 204987.35 | 25.68 | 15.96 | 7.85 |
| OIL | 499.00 | 9.72 | 81167.73 | 2.30 | 4026.83 | -80.32 | 12886.27 | 47.27 | 12.43 | 46.35 |
| DEEPINDS | 793.30 | 24.59 | 5077.12 | 0.32 | 89.15 | 44.48 | 278.92 | 39.81 | 7.44 | 38.77 |
| ANTELOPUS | 1171.70 | 31.04 | 4119.97 | 0.00 | 543.20 | 4741.35 | 1310.40 | 2488.19 | 22.91 | 70.18 |
| DOLPHIN | 686.25 | 38.12 | 2745.31 | 0.00 | 148.14 | 1207.16 | 428.46 | 2505.73 | 14.92 | 59.07 |
| ASIANENE | 534.05 | 45.13 | 2598.00 | 0.23 | 12.76 | 126.51 | 271.19 | 135.06 | 16.63 | 8.09 |
| HINDOILEXP | 195.65 | 103.05 | 2587.34 | 0.00 | 6.24 | -85.79 | 114.18 | 45.17 | 12.33 | 4.82 |
| JINDRILL | 673.05 | 10.18 | 1950.57 | 0.15 | 47.14 | -28.69 | 275.39 | 8.38 | 15.30 | 35.72 |
| GNRL | 109.02 | 86.59 | 1672.40 | 0.00 | 11.35 | 488.84 | 5.72 | 70.36 | -0.56 | 202.01 |
| AAKASH | 8.49 | 16.96 | 85.96 | 0.00 | 0.26 | -36.86 | 23.35 | 7.11 | 5.39 | 9.38 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 18 | 21 | 22 | 31 | 26 | 23 | 23 | 26 | 24 | 25 | 31 | 33 | 28 | |
| 15 | 17 | 19 | 24 | 23 | 21 | 21 | 23 | 21 | 22 | 27 | 27 | 29 | |
| Operating Profit | 3 | 4 | 3 | 7 | 3 | 2 | 2 | 3 | 3 | 3 | 4 | 5 | -1 |
| OPM % | 18.96% | 18.41% | 12.84% | 22.47% | 12.88% | 8.76% | 9.38% | 9.86% | 12.11% | 11.73% | 12.71% | 16.32% | -2.77% |
| 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | |
| Interest | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 1 | 1 | 1 | 0 | 0 | 0 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 |
| Profit before Tax | 1 | 2 | 1 | 5 | 2 | 0 | 0 | 0 | 1 | 0 | 1 | 3 | 1 |
| Tax % | 25.36% | 25.60% | 25.93% | 26.42% | 25.93% | 41.18% | 32.43% | 28.95% | 25.00% | 27.03% | 25.00% | 29.59% | 26.16% |
| Net Profit | 1 | 1 | 0 | 4 | 1 | 0 | 0 | 0 | 1 | 0 | 1 | 2 | 1 |
| 0.10 | 0.12 | 0.04 | 0.35 | 0.12 | 0.01 | 0.03 | 0.03 | 0.05 | 0.03 | 0.08 | 0.19 | 0.05 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 25 | 34 | 41 | 52 | 67 | 60 | 77 | 93 | 92 | 98 | 117 | |
| 21 | 27 | 33 | 44 | 53 | 47 | 62 | 79 | 75 | 88 | 105 | |
| Operating Profit | 4 | 7 | 8 | 8 | 15 | 13 | 15 | 13 | 17 | 10 | 11 |
| OPM % | 17.24% | 19.69% | 18.74% | 15.02% | 22.18% | 21.33% | 19.93% | 14.42% | 18.56% | 10.30% | 9.81% |
| 1 | 0 | 0 | 2 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | |
| Interest | 1 | 1 | 1 | 1 | 3 | 2 | 1 | 2 | 2 | 2 | 2 |
| Depreciation | 3 | 4 | 3 | 4 | 6 | 6 | 6 | 7 | 8 | 7 | 10 |
| Profit before Tax | 1 | 2 | 3 | 5 | 7 | 6 | 8 | 6 | 8 | 3 | 5 |
| Tax % | 37.67% | 34.44% | 28.19% | 31.39% | 28.06% | 25.48% | 25.43% | 26.09% | 25.94% | 27.98% | 27.86% |
| Net Profit | 0 | 1 | 2 | 3 | 5 | 4 | 6 | 5 | 6 | 2 | 3 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 5.00 | 4.08 | 0.60 | 0.45 | 0.61 | 0.18 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 16%
- 5 Years:
- 8%
- 3 Years:
- 8%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 6%
- 5 Years:
- -18%
- 3 Years:
- -33%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- -20%
- 3 Years:
- 14%
- 1 Year:
- -10%
RETURN ON EQUITY
- 10 Years:
- 10%
- 5 Years:
- 10%
- 3 Years:
- 8%
- Last Year:
- 3%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 7 | 10 | 10 | 10 | 10 | 10 | 10 |
| 11 | 12 | 14 | 26 | 27 | 31 | 38 | 42 | 48 | 50 | |
| 11 | 12 | 19 | 23 | 18 | 13 | 10 | 19 | 18 | 18 | |
| Trade Payables | 1 | 1 | 2 | 2 | 3 | 2 | 3 | 4 | 3 | 7 |
| 2 | 2 | 4 | 6 | 9 | 8 | 11 | 8 | 14 | 11 | |
| Total Liabilities | 31 | 33 | 44 | 63 | 67 | 66 | 71 | 83 | 94 | 96 |
| 17 | 19 | 18 | 39 | 45 | 42 | 46 | 63 | 59 | 61 | |
| 0 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 7 | 3 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 25 | 22 | |
| Cash & Bank | 4 | 3 | 1 | 1 | 0 | 1 | 0 | 1 | 1 | 0 |
| 9 | 11 | 25 | 23 | 22 | 19 | 25 | 19 | 3 | 10 | |
| Total Assets | 31 | 33 | 44 | 63 | 67 | 66 | 71 | 83 | 94 | 96 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 6 | 6 | -0 | 14 | 19 | 15 | 11 | 21 | 10 | 8 | |
| Cash from Investing | -8 | -6 | -2 | -15 | -12 | -6 | -7 | -24 | -10 | -4 |
| Cash from Financing | 6 | -1 | 0 | 0 | -6 | -7 | -3 | 6 | -0 | -4 |
| 4 | -1 | -2 | -0 | -0 | 1 | -1 | 1 | -0 | -0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - Navinchandra Vershibhai Haria has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition made in reliance upon exemption provided for in regulation 10 of SEBI (SAST) Regulations, 2011.
2026-09-02 - Aakash Exploration Services Limited has informed the Exchange about Copy of Newspaper Publication - 20th Annual General Meeting through Video Conferencing/ Other Audio-Visual Means ("VC/OAVM") facility & E-voting information.
2026-08-31 - Aakash Exploration Services Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 29, 2026
2026-08-31 - Aakash Exploration Services Limited has informed the Exchange about Copy of Newspaper Publication - 20th Annual General Meeting through Video Conferencing/ Other Audio-Visual Means
2026-08-26 - Outcome of the Board meeting held on 26th August, 2026 under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
2026-08-26 - Aakash Exploration Services Limited has informed the Exchange regarding Appointment of Mr. Vipul Navinbhai Haria as Managing Director of the company w.e.f. December 14, 2026.
2026-08-21 - Navinchandra Vershibhai Haria has Submitted to the Exchange a copy of Disclosure under Regulation 10 (5) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
2026-08-14 - Pravin Varshibhai Haria has submitted to the Exchange a copy of Disclosures under Regulation 10(6)-Report to stock Exchange in respect of any acquisition made in reliance upon exemption provided for in regulation 10 of SEBI (SAST) Regulations, 2011.
2026-08-13 - Aakash Exploration Services Limited has informed the Exchange regarding 'Intimation under Regulation 31(A)(8) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015'.
News
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