Midcap chemical logistics stock jumps 8.4% after reporting healthy Q3 results 

LPG Importer and Handler Aegis Logistics’s shares zoomed 8.4% on Friday’s early trades to reach an intraday high of ₹ 388.80 apiece on the National Stock Exchange (NSE) after the company reported robust earnings. Its shares were trading at ₹ 338.55 apiece at 11:00 AM. 

The company reported a 71.88% increase in its consolidated revenue from operations for the quarter ended December 31, 2022. Its revenue from operations came in at ₹ 2086.74 crores against ₹ 1214.10 crores in the corresponding quarter of 2021. It reported a net profit of ₹ 142.84 crores in the October to December quarter of 2022, up 30.38% against ₹ 109.28 crores reported in the same quarter of 2021. 

Aegis Logistics is a leading integrated oil & gas chemical logistics company and one of India’s top LPG importers and handlers among private players. It operates through terminals across major ports of India having a storage capacity of 15,70,000 KL for Chemicals & POL and 1,14,000 MT of static capacity for LPG. 

It is a mid-cap stock with a market capitalization of ₹ 12,589 crores. The company has a return on equity of 17.37% and an ideal debt-to-equity ratio of 0.46. Its shares were trading at a price to earnings ratio of 30.20, which is significantly higher than the industry P/E of 5.70, indicating that the stock might be overvalued as compared to its peers. It has a dividend yield of 1.32%. 

Written by Simran Bafna