Elsa Bhd delivered a profit after tax (PAT) of RM1.4 million for the first quarter ended March 31, 2026 (1Q26), underpinned by steady contributions from its integrated oil and gas services and equipment (OGSE) businesses ahead of its planned ACE Market listing.
The integrated OGSE solutions provider recorded revenue of RM46.55 million, supported by its diversified service portfolio spanning oilfield services, digital solutions, robotics and engineering, and talent solutions.
Growth was driven in part by its technology-enabled segments, with Digital Solutions contributing RM6.79 million and Robotics and Engineering Solutions generating RM3.46 million, reflecting rising demand for digitalisation, drone-based inspection, autonomous underwater vehicle (AUV) services and asset integrity solutions across the energy sector.
Elsa maintained a strong financial position, generating RM5.31 million in net operating cash flow during the quarter. Cash and cash equivalents rose to RM23.81 million from RM19.37 million at end-December 2025, while total equity increased to RM50.08 million. Bank borrowings remained low at RM4.91 million, underscoring its asset-light structure.
Managing Director Elsa Berhad said the group enters the public market with a clear strategy to expand its role as a technology-integrated OGSE solutions provider.
“We are pleased to report a profitable quarter ahead of our listing on the ACE Market,” he said, adding that the group aims to strengthen capabilities across oilfield services, digital platforms and robotics-enabled solutions.
He noted that proceeds from the IPO will be used to enhance project delivery capacity, develop in-house AUV capabilities, procure additional drones, and expand technical offerings across its core segments.
Elsa’s gross profit margin stood at 10.89% for the quarter, while its effective tax rate was higher due to adjustments during the period.
The group said Malaysia’s OGSE sector continues to be supported by long-term industry frameworks, including the National OGSE Industry Blueprint 2021-2030 and Petronas’ upstream development plans, which are expected to sustain demand for maintenance and project activities.
