Aegis Logistics (AEGISLOG) Q1 24/25 earnings summary

Executive summary

• Achieved record Q1 FY25 results with highest-ever volumes, EBITDA of INR 250 crores, and profit after tax of INR 158 crores, up 19% year-over-year, driven by capacity expansion and volume growth in both gas and liquid divisions.

• Unaudited consolidated and standalone financial results for the quarter ended June 30, 2024, were reviewed and approved by the Board on July 30, 2024.

• Review reports from independent auditors found no material misstatements or non-compliance with SEBI regulations.

• Confident in sustaining positive momentum and achieving 25% CAGR over the next three years, supported by ongoing greenfield and brownfield expansions.

• Focused on supporting India's transition to sustainable fuels, with plans for ammonia terminals and continued infrastructure development.

Financial highlights

• Q1 FY25 EBITDA rose 18% year-over-year to INR 250 crores; profit after tax increased 19% to INR 158 crores; EPS up 14% to INR 3.75.

• Q1 FY25 consolidated revenue was ₹160,134 lakh, down from ₹210,053 lakh in Q1 FY24, but EBITDA and PAT grew due to margin expansion.

• Liquid segment revenue grew 24% to INR 143 crores; EBITDA up 38% to INR 108 crores.

• LPG segment EBITDA grew 7% to INR 142 crores; logistics volumes up 15% year-over-year.

• Interim dividend of ₹1.25 per share (125% of face value) was declared and paid for FY25.

Outlook and guidance

• Guidance to achieve 25% CAGR over the next three years, with new capacity and expansions driving higher revenues and profitability.

• Ongoing capital investment program of INR 4,500 crores (2023-2027) under Project GATI with JV partner Royal Vopak, focusing on greenfield and brownfield expansion, M&A, and new energy projects.

• Distribution volumes expected to grow 25%-30% year-over-year, with further step-up post commissioning of new cryogenic terminals.

• Margins in both liquid and distribution segments expected to remain strong and sustainable.

• The company continues to publish only consolidated financial results, with standalone results available on its website and stock exchanges.