The shares of a Micro-Cap firm, specializing in offering oil and gasoline discipline companies, hit a 20 % higher circuit upon receiving a Letter of Award (LoI) from Oil and Pure Gasoline Company (ONGC) for Rs. 19.36 crore.
With a market capitalization of Rs. 105.10 crores on Wednesday, the shares of Aakash Exploration Companies Restricted hit a 20 % higher circuit, making a excessive of Rs. 10.51 per share in comparison with its earlier closing worth of Rs. 8.76 per share.
Aakash Exploration Companies Restricted, engaged in offering oil and gasoline discipline companies, has acquired a Letter of Award (LOI) from Oil and Pure Gasoline Company Restricted (ONGC) for the constitution hiring of a 50 MT workover rig to be deployed at ONGC’s Ahmedabad asset. The contract is for a interval of three years and is valued at roughly Rs. 19.36 crore.
Financials & Others
The corporate’s standalone income declined by 16 % from Rs. 31.28 crore to Rs. 26.14 crore in Q4FY24-25. In the meantime, Internet revenue declined from Rs. 3.51 crore to Rs. 0.28 crore throughout the identical interval.
The corporate maintains a low debt-to-equity ratio of 0.29, indicating sturdy monetary well being with minimal reliance on debt. Its present property exceed present liabilities, reflecting good liquidity. Moreover, promoters maintain over 65 % of the corporate’s shares, signifying a powerful dedication and management.
Aakash Exploration Companies Restricted (AESL) is a number one, ISO-certified firm based mostly in Ahmedabad, Gujarat, specializing in oil and gasoline discipline companies. With over 900 staff, AESL provides cellular workover rigs, scorching oil items, compressors, cranes, and different tools, and likewise supplies manpower and upkeep help.
It’s offering Oil and Gasoline discipline Companies to M/S Oil & Pure Gasoline Company Ltd (A Govt. of India Firm), Ahmedabad, Mehsana and Hazira Tasks since final 25 years and likewise offering comparable companies to personal oil discipline operators specifically GSPCL, Cairn, Essar, Nice Japanese Power, IOC, Niko, OIL, Worth Petroleum and many others.
The corporate serves a distinguished set of marquee shoppers within the oil and gasoline sector, together with PRIZE Petroleum, Niko Assets Ltd, GAIL, GSPC, Oil India Ltd, Schlumberger, Halliburton, Essar, Vedanta, ONGC, Reliance, Indian Oil Company Ltd., and Hindustan Oil Exploration Firm.
Written by Sridhar J
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