Aegis Logistics Ltd
Aegis Logistics Ltd (AEGISCHEM)

Aegis Logistics Ltd (AEGISCHEM)

₹276.350.17%

Key Stats

₹273.05
Day's Price Range
₹284.4
₹167.25
52-Week Price Range
₹303.55
1 Month Return6.95 %
3 Month Return31.74 %
1 Year Return15.98 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 188
24.66
EPS
Rank 106
₹11.24
BVPS
Rank 169
₹62.09
Dividend Yield
Rank 81
0.67%
ROE
Rank 45
32.86%
Price To Book Ratio
Rank 246
4.46
Debt To Asset
Rank 212
0.37

Company Information

Aegis Logistics Limited is in the business of import and distribution of Liquified Petroleum Gas LPG and storage and terminalling facility for LPG and chemical products. The company has storage facilities at Mumbai Haldia Pipavav Kochi and Mangalore. The Aegis Group captures the complete logistics value chain starting from sourcing terminalling to retail distribution of LPG. The Company has 9 subsidiaries out of which 7 are wholly owned subsidiaries as on March 31 2019 having business akin and germane to the business of holding Company.Aegis Logistics is a leader in Oil Gas and Chemical Logistics. The company is engaged in providing logistic solutions for Oil Gas Chemicals and Petrochemical Industries. With their strategic locations and indispensable services Aegis is a key supplier for total supply chain management services to major customers including Oil PSUs. Aegis Logistics Ltd was incorporated on June 30 1956 as a private limited company with the name Atul Drug House Ltd. In the year 1962 the company installed their first plant for the manufacture of formaldehyde and hexamine at Kandla. In the year 1967 they installed another plant at Capi near Bulsar in Gujarat State for the manufacture of 14400 tonnes of formaldehyde and 540 tonnes of hexamine per annum.In the year 1970 the company installed at Vapi a plant for the manufacture of Pentaerythritol formaldehyde with a capacity of 1200 tonnes per annum with the technical knowhow supplied by Joset Meissner of W.Germany. In September 14 1976 the name of the company was changed to Atul Chemical Industries Ltd. Also they became a public limited company. The name of the company was again changed from Atul Chemical Industries Ltd to Aegis Logistics Ltd. In the year 1999 the Petrochemicals Division was hived off to Perstorp Aegis Chemicals Ltd PACL a joint venture company between the company and Perstorp AB Netherlands.During the year 200708 as per the scheme of arrangement SoA Throughput Activity Undertaking of Hindustan Aegis LPG Ltd was demerged and transferred to the company with effect from the appointed date April 01 2007. During the year 200809 Tapi Finvest India Pvt Ltd was amalgamated with the company.During the year 200910 the company entered into a strategic alliance with Essar Oil Ltd which entails a reciprocal arrangement wherein both the companies would sell each other fuels through their retail outlets.In April 1 2010 the company acquired 100 shareholding in Shell Gas LPG India Pvt Ltd. Consequently SGLIPL became wholly owned subsidiary with effect from April 1 2010. Also the name of SCLIPL was changed to Aegis Gas LPG Pvt Ltd AGPL. During the year 201011 the company was awarded the Operations Maintenance OM contract for the product storage and dispatch operations of Bharat Oman Refinery Ltd BORL at Bina in Madhya Pradesh signifying the Aegis expertise of the company in Liquid Logistic and Operations Maintenance. Also Aegis Gas LPG Pvt Ltd AGPL the wholly owned subsidiary of the company acquired 100 equity shares of Hindustan Aegis LPG Ltd HAL PG from its erstwhile shareholders. Consequently HAL PG ceased to be an associate and became a wholly owned subsidiary of AGPL.In November 2010 the company entered into a major deal with APM Terminals Pipavav to avail on sublease close to 100 acres of land for building a global oil and petrochemicals storage complex. The company will invest up to Rs 400 crore 90m in building a 600000 KL oil terminal complex in Port Pipavav. With the announcement of this project the companys liquids capacity will rise from 300000 KL to over 1 million KL. In February 2013 Aegis Logistics initiated the Pipavav Phase I Greenfield project to set up a liquid terminal of 120000 KL and double storage capacity of the pressurized gases terminal to 5400 MT.During the financial year ended 31 March 2014 Aegis Logistics terminalling business benefitted from investments made in the previous year in the liquid terminals business ranging from debottlenecking to commissioning of the new terminal at Haldia Dock Complex. Towards the end of the year the company partially commissioned the liquid terminal at Pipavav Port with the balance of the expansion of liquid terminal as well as the gas terminal expected to be completed by the end of 2014. During the year under review the performance of the companys gas retail and distribution business was lower due to a slowdown in the growth rate of the retail LPG business as government policy on LPG subsidies fluctuated. The LPG sourcing and terminalling business improved largely due to higher off take by national oil companies during the year. During the financial year ended 31 March 2015 Aegis Logistics established a joint venture with ITOCHU Corporation of Japan. In furtherance to the same the company sold 8538 equity shares representing 40 of the outstanding shares of Aegis Group International Pte. Ltd. AGI its wholly owned subsidiary in Singapore to Itochu Petroleum Co. Singapore Pte. Ltd. a wholly owned subsidiary of ITOCHU Corporation. As a part of the proposed transaction the parties executed a Shareholders Agreement and Share Purchase Agreement by and between the company AGI and Itochu Petroleum Co. Singapore Pte. Ltd. for sale and transfer of 8538 equity shares of USD 1 held by the company in AGI at an aggregate consideration of US 5850000. The Shareholders Agreement inter alia granted a right to Itochu Petroleum Co. Singapore Pte Ltd. for a period of six years to purchase 40 stake in the existing and new LPG Terminals of the Aegis Group subject to commercial negotiations on valuation. ITOCHU Corporation is one of the largest global LPG companies by sales volume and a key global player in the segment. The entry of a new strategic partner is aimed at raising the market share of AGI in Indias imports by following a strategy of attaining cost leadership in the LPG import market. During the year under review Aegis Logistics Bulk Liquid Terminal continued operations at full capacity. During the year under review Aegis Logistics wholly owned subsidiary Aegis Gas LPG Private Limited commissioned its Liquid Storage Terminal with a capacity of 120000 KL and doubled its Gas Storage Terminal capacity to 5400 MT.During the year under review Aegis Logistics benefited from the capital investments made in the previous financial year at Haldia and Pipavav. The companys terminalling business benefited from near full capacity utilization at its facilities in Haldia an increase in business at the Kochi terminal and commissioning of operation of the Pipavav terminal. The performance of the gas retail and distribution business stabilized with the gradual rationalization of LPG subsidies resulting in a decrease in the diversion of subsidized LPG to the transport and commercial sector. During the year under review the companys Liquid Logistics Division won several new contracts including six inland terminals for Hindustan Petroleum and the Marine Oil Terminal at Jawahar Deep. The business division demonstrated its logistics expertise by offioading bulk liquid cargo via ship to shore pipelines into its storage tanks refilled the product into ISO containers and transported them by rail to the customers facilities several hundred kilometres away thereby delivering a cost effective logistics solution to the customer. LPG distribution volumes declined compared with the previous year mainly due to the illegal diversion of subsidized LPG to this sector.During the year under review Aegis Logistics fully redeemed 250 units of 9.75 Secured Taxable Redeemable NonConvertible Debentures of face value of Rs. 10 lacs each totaling to Rs. 25 crores maturing on put option exercised by Corporation Bank.During the financial year ended 31 March 2016 Aegis Logistics benefited from the capital investments in new LPG capacity made in the previous financial year at Pipavav and from operational improvements at the Mumbai LPG terminal. This resulted in an excellent performance in the companys gas terminalling business. The companys liquid terminalling business benefited from full capacity utilization at its facilities in Haldia high capacity utilisation at the Kochi terminal and better utilisation of the Pipavav liquids terminal. The gas terminalling business performed extremely well with the addition of Indian Oil Corporation as a key customer with record throughput of LPG at both Pipavav and Mumbai. Sourcing volumes were lower due to delays in the registration of Aegis Group International Pte. Ltd. AGI as an approved international vendor. With the rationalization of LPG subsidies resulting in a decrease in the diversion of subsidized LPG to the transport and commercial sector the volume performance of the gas retail and distribution business improved by 15 with a commensurate rise in gross margins.During the year under review the companys Liquid Logistics Division recorded all time revenue of Rs 170.60 crore. Normalized EBITDA of the division was also at a record of Rs. 102.38 crore for the year. The Mumbai terminals benefited from the commissioning of the second chemical berth at Pir Pau with faster turnaround of vessels.During the financial year ended 31 March 2017 Aegis Logistics embarked on a further expansion of its LPG storage capacity in Pipavav from 8100 MT to 18300 MT an increase of 10300 MT. During the year under review the companys bulk liquid terminal continued operations at full capacity. During the year Aegis Logistics provided an Exit Offer to the shareholders of its subsidiary Sea Lord Containers Limited pursuant to Securities Exchange Board of India SEBI Circular No. SEBI/HO/MRD/DSA/CIR/P/2016/110 dated October 10 2016. As on 31 March 2017 the company holds 92.26 Equity Shares of Sea Lord Containers Limited. Further during the financial year F.Y. 201617 Sea Lord Containers Limited redeemed its entire NonCumulative Redeemable Preference Shares aggregating to Rs. 38 crore held by Aegis Logistics. During the year under review the liquid storage terminal undertaking of Aegis Logistics wholly owned subsidiary Aegis Gas LPG Private Limited located at Pipavav Port along with all assets and liabilities was acquired by Aegis Logistics.During the year the under review LPG Assets at Haldia Dock Complex West Bengal of Aegis Logistics was transferred to its wholly owned subsidiary Hindustan Aegis LPG Limited. During the year review Aegis Logistics further invested USD 20000 at par in its wholly owned subsidiary Aegis International Marine Services Pte. Limited for its working capital needs. During the year under review Aegis Logistics benefited from the capital investments in new LPG capacity made in the previous financial year at Pipavav and from operational improvements at the Mumbai LPG terminal. This resulted in an excellent performance in the companys gas terminalling business. The liquid terminalling business of the company benefited from full capacity utilization at its facilities in Haldia and higher capacity utilisation at the Kochi terminal but the Pipavav liquids terminal remained underutilized. The gas terminalling business performed extremely well with the addition of Indian Oil Corporation as a key customer with record throughput of LPG at both Pipavav and Mumbai. Sourcing volumes were excellent and doubled from last year. With the rationalization of LPG subsidies resulting in a decrease in the diversion of subsidized LPG to the transport and commercial sector the volume performance of the gas retail and distribution business also improved significantly.During the year under review sourcing volumes of the companys LPG division improved markedly due to the sharp increase in demand driven by the successful implementation of the LPG Subsidy Pahal DBTL Scheme in rural areas and gas throughput volumes increased significantly at both Mumbai and Pipavav on the back of this demand. Distribution volumes also improved compared with the previous year. The commissioning of an additional 2700 MT of LPG storage capacity at Pipavav during 201617 and the operational debottlenecking at the Mumbai LPG terminal contributed to the significant rise in throughput of LPG during FY 2017.Aegis Logistics subsidiary company Hindustan Aegis LPG Limited commissioned a fully refrigerated LPG terminal at Haldia Dock Complex West Bengal in Q3 FY 2018 with a static storage capacity of 25000 MT and throughput capacity of 2500000 MT per annum. This is the largest LPG terminal in the Aegis portfolio. During the ended 31 March 2018 Aegis Logistics completed its project of debottlenecking of Mumbai LPG terminal by connecting it by pipeline to the UranChakan cross country LPG pipeline. During the year under review the companys bulk liquid terminal continued operations at full capacity.During the year under review Aegis Logistics wholly owned subsidiary Aegis Gas LPG Private Limited expanded its LPG storage capacity in Pipavav from 8100 MT to 18300 MT an increase of 10200 MT. It has also redeemed all its outstanding Non Convertible debentures which were listed on National Stock Exchange of India Ltd. During the year Itochu Petroleum Co. Singapore Pte. Ltd. a Singapore based company subscribed to 19.7 stake in the equity capital of Aegis Logistics subsidiary company Hindustan Aegis LPG Limited through Preferential Issue.During the year under review Aegis Logistics gas terminalling business performed extremely well with the addition excellent throughput at both Pipavav and Mumbai and with initial throughput at Haldia.During the year 201819 the Aegis Logistics Limited which held 92.46 of equity shares of Sea Lord Containers Limited in compliance with the provisions of section 236 of the Companies Act 2013 dispatched the respective consideration amount to all the minority public shareholders of the Company and acquired remaining equity shares aggregating 7.54 of the total share capital of the Company. Accordingly the Company has become the wholly owned subsidiary of the Aegis Logistics Limited with effect from December 31 2018.The Company had during the year 2019 approved the setting up of additional liquid tankage with the storage capacity of 40000 KL beyond the existing 100000 KL storage capacity at Kandla Port.The Company during the year 2020 approved setting up a new LPG terminal of a capacity of 45000 MT at Kandla which is in progress and expected to be completed by First half of FY 2021.In FY 2022 the Company had approved setting up of an additional storage capacity of 50000 KL over and above existing 25000 KL of bulk liquid terminals at Mangalore which has now been commissioned during the year.Through its subsidiary Company Konkan Storage Systems KOCHI Private Limited the Company had approved an addition of 20000 KL of bulk liquid tankage beyond the existing 51000 KL at Kochi Port which is expected to be completed during the year 2022.The Kandla LPG terminal with a static capacity of 48000 MT and throughput capacity of 4000000 MT at full utilisation has been completed and commissioned during the year 2022. The Company through its subsidiary Aegis Gas LPG Private Limited is expecting completion of expansion of its existing 18300 MT capacity of LPG Terminals by additional 3800 MT capacity during the next year.The expansion of 54500 KL of bulk liquid terminals at Haldia over and above the existing capacity of 120000 KL has been commissioned and completed during the year 2022.Through its subsidiary Aegis Gas LPG Private Limited the Company has commissioned LPG railway gantry which is fully operational.The Company through its subsidiary Aegis Gas LPG Private Limited has significant growth plans in Retail LPG distribution business such as Commercial LPG Market under the brand name Aegis Puregas Magna brand and Domestic LPG Market under Aegis Chota Cikandar brand on a national scale.The Board has during the year 2022 approved to add 175000 kilo liters of liquid storage capacity and 100000 MT of gas storage capacity at a capital expenditure of about Rs. 1250 Crores.During the year 2022 Company had invested INR 500000 in cash in the shares of Aegis Vopak Terminals Limited AVTL by acquisition of 100 stake from its wholly owned subsidiary Aegis Gas LPG Private Limited. Pursuant to the same AVTL had become wholly owned subsidiary of the Company. Further Company invested Rs. 5600000/ in cash to increase stake in AVTL by way of acquiring 460000 equity shares of Rs. 10/ each and 100000 Compulsory Convertible preference shares of Rs. 10/ each.During the year 2022 Company had entered into Shareholders Agreement SHA and simultaneously with the execution of Shareholders Agreement Share Subscription Agreement SSA with Vopak India B.V. and Companys wholly owned subsidiary Aegis Vopak Terminals Limited AVTL including amendment agreements to SHA and SSA wherein AVTL had agreed to issue to Vopak and Vopak has agreed to subscribe to the subscription shares such that upon completion of the subscription to shares pursuant to the SSA the Company shall hold the legal and beneficial ownership to 51 of the share capital of AVTL and Vopak shall hold the legal and beneficial ownership to 49 of the share capital of AVTL.During the year 2022 Company has entered into Share Purchase Agreement with Vopak India B.V. Vopak Asia Pte. Limited Vopak Logistics Asia Pacific B.V. CRL Terminals Private Limited Aegis Vopak Terminals Limited AVTL Formerly known as Aegis LPG Logistics Pipavav Limited wherein Vopak India Vopak Asia and Vopak Logistics collectively Sellers have agreed to transfer to AVTL the 100 equity shares of CRL Terminals.During the year 2022 Company has entered into Business Transfer Agreements to transfer following business undertakings to Aegis Vopak Terminals Limited its wholly owned subsidiary by way of slump sale as a going concern basis: 1. Transfer of liquid storage units of the Company located at Haldia Dock Complex MouzaChiranjibpur 2. Transfer of liquid and LPG storage units of the Company located within the limits of the Kandla Port Trust in Gandhidham Gujarat 3. Transfer of liquid storage unit of the Company located within the limits of the liquid storage unit of the Company located at Dakshina Kannada Mangalore 4. Transfer of liquid storage unit of the Company located within the limits of the Port of Pipavav in Gujarat.During the year 2022 Companys wholly owned subsidiary Aegis Gas LPG Private Limited entered into Business Transfer Agreement to transfer Pipavav LPG storage units located within the limits of the Port of Pipavav Gujarat by way of slump sale basis to Aegis Vopak Terminals Limited.During the year 2022 Company through Aegis Vopak Terminals Limited AVTL had has signed definitive agreements to acquire assets pertaining to liquid tank terminals with capacity of 500000 KL at Kandla Port from Friends Group for total outlay of Rs. 265 crore. During the year 2022 Company had sold entire equity holding representing 100 equity stake of Konkan Storage Systems Kochi Private Limited KCPL its wholly owned subsidiary to Aegis Vopak Terminals Limited AVTL at fair value of Rs. 18.5/ per equity share aggregating to Rs. 1850000. As on March 31 2022 KCPL had become a step down subsidiary of the Company and wholly owned subsidiary of AVTL.
OrganisationAegis Logistics Ltd
HeadquartersValsad
IndustryTrading