Prime Highlights :
- Aegis Logistics will develop a 51,998-tonne refrigerated propane tank at JNPA for ₹142.5 crore.
- The company reported a sharp rise in first-quarter profit, revenue and EBITDA.
Key Facts :
- Aegis Logistics operates in logistics and LPG infrastructure.
- The Gas Terminal division remained the company’s biggest earnings contributor.
Background :
Aegis Logistics Ltd has signed a framework agreement with its subsidiary Aegis Vopak Terminals Ltd (AVTL) to build an additional refrigerated propane storage tank and related facilities at the JNPA tank farm area. The project has a value of ₹142.5 crore.
The new facility will include a refrigerated, double-steel-wall, full-containment and insulated propane storage tank with a capacity of 51,998 metric tonnes. Aegis Logistics will receive ₹142.5 crore from AVTL after the framework agreement is executed.
The company said the transaction qualifies as a related-party deal because AVTL is its subsidiary. It added that the agreement was completed on an arm’s-length basis.
The announcement came as Aegis Logistics reported a sharp improvement in its first-quarter performance. The company’s consolidated net profit rose to ₹484 crore in the June quarter, compared with ₹131 crore in the same quarter last year.
Revenue from operations grew 37% to ₹2,357 crore from ₹1,719 crore. EBITDA nearly tripled to ₹715 crore from ₹240 crore, while the EBITDA margin expanded to 30.3% from 14%.
The Gas Terminal division led the growth. Its revenue rose to ₹2,178.6 crore from ₹1,575.5 crore, while segment profit jumped more than four times to ₹575.3 crore from ₹132.1 crore.
Aegis Logistics shares closed almost unchanged at ₹1,395.60 on the NSE.