Aegis Logistics (AEGISLOG) Q1 25/26 earnings summary

Executive summary

• AVTL, a key subsidiary, was successfully listed in June 2025, raising ₹280,000 lakh; Aegis retains 44.71% equity and management control, consolidating AVTL's financials.

• MSCI ESG rating upgraded from A to AA in 2025, reflecting improved sustainability performance.

• Major port-by-port expansions and new projects underway, including ammonia terminals at Pipavav, Mumbai, JNPT, Kandla, Kochi, Mangalore, and Haldia.

• Signed a cross-selling fuel agreement with Jio-bp to enhance distribution business.

• Strong cash reserves and robust balance sheet position the company for future growth.

Financial highlights

• Q1 FY26 normalized EBITDA reached INR 256 crore, up 2% year-over-year; PAT up 11% to INR 175 crore; revenue rose 7% YoY to ₹1,719 Cr.

• Liquid segment Q1 FY26 revenue was INR 144 crore, up 1% YoY; EBITDA stable at INR 106 crore.

• LPG segment Q1 FY26 EBITDA grew 6% YoY to INR 150 crore; revenue increased 8% YoY to INR 1,575 crore; throughput volume hit 1.16 million tons, up 15% YoY.

• FY25 normalized EBITDA grew 16% to ₹1,173 Cr; PAT up 17% to ₹788 Cr.

• Dividend per share for FY25 was ₹7.25; first interim dividend for FY26 declared at ₹2.00 per share.

Outlook and guidance

• Targeting a minimum 25% CAGR growth in EPS year-over-year, with historical CAGR at 23% over the last three years.

• Announced Phase 2 capex at JNPA for 77k MT LPG and additional 94k cbm liquid terminal at Kandla.

• Expecting further volume and margin improvements as new capacities and product mix enhancements come online.

• Distribution margins expected to average INR 3,000–3,500 per ton for the year.

• CapEx to reach $1.2 billion by end of next year and $5 billion by 2030, funded by internal accruals and debt.