Aegis Logistics (AEGISLOG) Q2 25/26 earnings summary

Executive summary

• Q2 FY26 delivered record consolidated revenue of ₹2,294 Cr (up 31% YoY), normalized EBITDA of ₹347 Cr (up 46%), and PAT of ₹244 Cr (up 61%), driven by strong LPG and liquid volumes and operational efficiencies.

• H1 FY26 revenue reached ₹4,013 Cr (up 20% YoY), normalized EBITDA at ₹602 Cr (up 24%), and PAT at ₹419 Cr (up 35%).

• Standalone and consolidated results for Q2 and H1 FY26 were reviewed by independent auditors, with no material misstatements.

• Major capacity expansions included 61,000 KL liquids at Mumbai Port, new terminals, and successful AVTL listing with full debt repayment.

• Record LPG logistics and distribution volumes supported by infrastructure expansions and new project completions.

Financial highlights

• Q2 FY26 liquid revenue rose 19% YoY to ₹155 Cr; liquid EBITDA up 25% to ₹116 Cr.

• Q2 FY26 LPG/gas revenue grew 32% to ₹2,139 Cr; gas EBITDA up 60% to ₹231 Cr, with record volumes handled.

• Consolidated Q2 FY26 revenue was ₹229,401 lakh, up from ₹175,042 lakh YoY; PAT was ₹24,402 lakh, up from ₹15,202 lakh.

• H1 FY26 LPG volume was 2.57 million tons (up 24% YoY); distribution volumes up 31% to 3.3 lakh metric tons.

• Achieved highest-ever Q2 revenue and EBITDA in both liquid and gas segments.

Outlook and guidance

• Distribution volumes expected to grow further, supported by new terminals, pipeline connections, and major infrastructure projects.

• Management confident of exceeding 25% CAGR guidance for 2022-2027, targeting over 30% CAGR in distribution volumes.

• Strategic initiatives include greenfield/brownfield expansions, M&A, and new energy projects under Project GATI.