Aakash Exploration Services Announces New Director Appointment and Reviews Q1 Financial Results
Aakash Exploration Services Limited has made several key corporate announcements, including the appointment of a new director and consideration of a shareholder reclassification request, alongside providing reviewed unaudited financial results for the quarter ending June 30, 2026.The Board of Directors approved the unaudited financial results for the company for the quarter ended on June 30, 2026. The board also considered a request received from M/s. Deval Energy Resources Private Limited seeking reclassification from the 'Promoter Group' category to the 'Public' category.
As part of corporate governance updates, the Board appointed Mr. Vihan Vipul Haria (DIN: 10939452) as an Additional Director designated as Whole Time Director for a period of three years, effective August 11, 2026. Mr. Haria is noted to be a relative of Mr. Vipul Haria, Managing Director, and possesses a Bachelor's Degree, with skills in design thinking and project management.
Regarding the shareholder status review, the Board determined that approval of shareholders regarding reclassification was not applicable to the company, as the promoter group seeking reclassification and associated persons held less than one percent of the total voting rights.
Financial Performance Snapshot
The statement of standalone unaudited financial results for the first quarter ended June 30, 2026, has been reviewed by Chartered accountants M/s. Parikh Shah & Associates and RIKH SHAH & ASSOCIATES CHARTERED ACCOUNTANTS.The company maintains a single segment of activity: providing services as an Oil & gas Extraction service provider. The financial results across the reporting periods are detailed below (figures in Lakhs).
| Metric | Q1 FY26 (Unaudited) | Preceding 3 Months FY25 (Audited) | Corresponding 3 Months LY (Unaudited) |
|---|---|---|---|
| Revenue from operations (gross) | 2,789.45 | 3,264.77 | 2,385.53 |
| Other income | 148.49 | 59.18 | 29.41 |
| Total Revenue | 2,937.94 | 3,323.95 | 2,414.94 |
| Cost of materials consumed | 570.11 | 373.20 | 332.49 |
| Employee benefits expense | 957.21 | 1,023.90 | 828.10 |
| Finance costs | 48.78 | 37.25 | 58.23 |
| Depreciation and amortisation expense | 252.27 | 287.35 | 187.76 |
| Other expenses | 1,038.48 | 1,335.31 | 936.67 |
| Total Expenses | 2,866.85 | 3,057.00 | 2,343.25 |
| Profit / (Loss) before Tax | 71.10 | 266.96 | 71.68 |
| Current Tax expense | 11.79 | 85.51 | 9.84 |
| Deferred Tax | 6.83 | (6.55) | 8.07 |
| Profit / (Loss) for the period | 52.48 | 188.00 | 53.77 |
| Total Comprehensive Income for the period | 52.48 | 189.46 | 351.45 |
| Paid Up Share Capital of Rs.1 each | 1,012.50 | 1,012.50 | 1,012.50 |
Earnings per equity share figures for the quarter include: Basic Earnings at 0.05 and Adjusted (Share Split effect) Earnings at 0.05.
AAKASH Stock Price Movement
Aakash Exploration Services Limited settled at ₹9.11 today, climbing 0.77% in post-market trading and surpassing its opening price of ₹9.06. The stock saw a brisk trading session, with a reported total traded volume of 59,588 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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