Aegis Logistics

Aegis Logistics delivered a breakout FY26 with revenue of 8,333 croresCurrent reported value: 8,333 crores. No comparable prior figure is available in the source record. (+23Current reported value: 23. No comparable prior figure is available in the source record.% YoY), normalized EBITDA of 1,599 croresCurrent 1,599 crore vs previous available quarter 326 crore. (+36% YoY), and PAT of 1,117 croresCurrent reported value: 1,117 crores. No comparable prior figure is available in the source record. (+41Current reported value: 41. No comparable prior figure is available in the source record.% YoY), crossing the ₹1,000 crore milestone for the first time. Q4 was particularly strong with revenue up 52% YoY to 2,594 croresCurrent reported value: 2,594 crores. No comparable prior figure is available in the source record. and EBITDA up 54% to 670 croresCurrent reported value: 670 crores. No comparable prior figure is available in the source record., driven by record LPG distribution volumes (2.34 lakh metric tonsCurrent 2.34 lakh metric tons. Reported change: +71% YoY., +71% YoY) and higher margins (₹7,000/tonCurrent ₹7,000/ton. Reported change: +75% YoY. vs ₹4,000/ton last year) due to energy price volatility. Management expects the ₹7,000/ton margin to sustain through FY28 as volume growth drives procurement efficiencies. The company has a clear capex roadmap: $1.2 billionCurrent reported value: $1.2 billion. No comparable prior figure is available in the source record. by March 2027 and $5 billionCurrent reported value: $5 billion. No comparable prior figure is available in the source record. through 2030, funded by a strong balance sheet (₹5,939 croresCurrent ₹5,939 crores. Reported change: +3,860% vs FY22. cash) and low leverage (0.6x gearing). Key growth drivers include new ammonia terminals, pipeline connectivity, and expansion at Kandla, Pipavav, and Mangalore. Risk: normalization of energy prices could compress distribution margins if volume growth does not offset the decline.