The shares of India’s leading integrated oil, gas, and chemical logistics company gained around 1.6 percent to an intraday high price of ₹402.75 apiece after the board approved an expansion of its Mangalore facility through acquisition and construction for a value of ₹125 crores.
At 11:45 a.m., Aegis Logistics Ltd. shares were trading at ₹388 per share, down 2.13 percent on the National Stock Exchange from the previous close price. The company has a market capitalization of ₹13,691 crore.
The board of directors gave approval for the acquisition of Aegis Vopak Terminals Limited, a subsidiary of Aegis Logistics Ltd., to expand the storage terminals at the company’s Mangalore facilities.
Currently, the company’s Mangalore facility has a capacity of 76,000 KL. With the proposed acquisition, an additional capacity of 44,168 KL will be added, along with approximately 41,000 KL (under construction). The company reported this in its exchange filing.
The acquired capacity will commence operation immediately, while the additional capacity under construction is expected to be completed in phases by the end of FY25. The project will involve an investment of up to ₹75 crores for the acquired capacity and up to ₹50 crores for the additional capacity under construction.
Aegis Logistics Limited, India’s premier oil, gas, and chemical logistics company, specializes in the import, distribution, storage, and terminalling of Liquified Petroleum Gas (LPG) and various chemical products. The company operates an extensive network of bulk liquid handling terminals, LPG terminals, filling plants, pipelines, and gas stations dedicated to delivering high-quality products and services.
In the fiscal year 2022-23, Aegis Logistics Limited made a significant acquisition, purchasing liquid tank terminals with a capacity of 500,000 KL at Kandla port from Friends Group for ₹ 236.5 crores.
Aegis offers comprehensive import, export, logistics, and storage solutions for a wide range of liquid chemicals, petroleum products, and vegetable oils. With terminals strategically located across six ports (Mumbai, Kandla, Pipavav,
Mangalore, Haldia, and Kochi), the company boasts a total operational capacity of 1,603,000 KL.
During Q3FY24, the company experienced a 10% decrease in revenue, falling from ₹2,087 crore to ₹1,873 crore compared to Q3FY23. Despite this decline, there was a notable 6% rise in net profit during the same period, increasing from ₹143 crore to ₹152 crore.
Written by Omkar Chitnis
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