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Earnings Call

Aegis Vopak Terminals Earnings Call: Key Takeaways

Aegis Vopak reported strong FY26 results with 17% revenue growth, driven by liquid terminaling expansion and high gas throughput.

Highlights
Revenue growthFY26 +17% YoY; Q4 +22.2% YoY.
MarginsImproving operating leverage; liquid terminaling earning INR 3,000 per CBM.
Order book15-year take-or-pay agreements for petroleum and ammonia terminals.
Demand visibilityStrong, following India's rising energy consumption and industrial activity.
Management confidenceHigh, cited multi-year capex acceleration and strategic partner ITOCHU.

Growth

FY26 Revenue INR 923.1cr (+17% YoY); EBITDA INR 686.5cr (+19.4%); PAT INR 341.9cr (+52.1%).

Outlook

USD 5bn capex pipeline by 2030; targeting 30-40% annual throughput growth and expansion to 12 ports.

Risks

Potential supply chain disruptions (Strait of Hormuz conflict) and Pipavav port lease dependency in 2029.

Last quarter's promises, checked

Delivered

  • Commissioning of Pipavav/Mangalore LPG terminals → Fully operational in Q3 (= BEAT)
  • JLPL connection by Feb end → On track for Q4 flow (= BEAT)
  • Haldia acquisition → Integrated and contributing to Q4 volumes (= BEAT)

Partly delivered

  • Kandla-Gorakhpur pipeline by June 2026 → Still in worst-case scenario timeline (= PARTIAL)
Source

Earnings Call filed with BSE, NSE: AEGISVOPAK. Summary written with AI assistance from the document.

Read the document ↗

Aegis Vopak Terminals Ltd: key numbers

Share price
₹287.50
Market cap
₹31,855 Cr
Revenue (annual)
₹923.1 Cr
Net profit (annual)
₹310.5 Cr
P/E (TTM)
127.3×Sector 29.0×
Promoter holding
86.93%+0.00% QoQ
FII holding
5.35%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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Aegis Vopak Terminals Credit Rating

India Ratings assigned IND AA/Positive/IND A1+ for Aegis Vopak's bank loan facilities and affirmed IND AA/Positive for its NCDs. The positive outlook signals financial strength to investors.