Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹32215 Cr.
Stock P/E
94.2
P/B
9.3
Current Price
₹290.8
Book Value
₹ 31.4
Face Value
10
52W High
₹321.4
52W Low
₹ 158.8
Dividend Yield
0.07%

Aegis Vopak Terminal Overview

Business

Aegis Vopak Terminals Ltd. (AEGISVOPAK) is a joint venture between Aegis Logistics Ltd. (India) and Royal Vopak N.V. (Netherlands). The company operates independent tank terminals for the storage and handling of liquid and gaseous products. Its core business model revolves around providing infrastructure services to various industries for storing essential commodities such as petroleum products, chemicals, liquefied petroleum gas (LPG), and potentially other gases and new energies. The company makes money primarily through charging storage fees, throughput fees (for loading/unloading products), and value-added services related to the movement and handling of these bulk liquids and gases.

Revenue Mix

The primary segment is bulk liquid and gas storage and handling services. Revenue is largely derived from long-term and short-term contracts for tank storage and associated logistics services. While specific percentages are not available, the revenue mix is dominated by:

Storage Fees: Charges for utilizing tank capacity over a period.

Throughput Fees: Fees for loading, unloading, and transferring products.

Ancillary Services: Blending, heating, nitrogen blanketing, and other value-added services.

The company caters to oil marketing companies, petrochemical manufacturers, chemical traders, and other industrial clients.

Industry

The company operates in the bulk liquid and gas terminaling and logistics industry in India. This is a capital-intensive sector characterized by high barriers to entry due to significant investment in infrastructure, land acquisition, regulatory approvals, and specialized expertise. Key players include private terminal operators, port trusts, and captive facilities of large industrial groups. Aegis Vopak Terminals benefits from the combined strengths of its parent companies: Royal Vopak's global leadership, technical expertise, and safety standards in tank storage, and Aegis Logistics' deep understanding of the Indian market, regulatory landscape, and extensive local network. This positions it as a premium, reliable, and technologically advanced provider in strategic locations.

MOAT

Strategic Assets & Location: Terminals are typically located at key ports or industrial hubs, which are difficult and expensive to replicate.

Operational Expertise & Safety Standards: Leveraging Royal Vopak's global best practices and Aegis's local operational excellence ensures high efficiency, reliability, and robust safety protocols, which are critical in handling hazardous materials.

High Capital Expenditure & Regulatory Hurdles: The substantial investment required and complex regulatory environment act as significant barriers to entry for new competitors.

Established Client Relationships: The joint venture benefits from the existing strong relationships and client base of both Aegis Logistics and Royal Vopak.

Scale & Network: Potential to leverage the broader networks and scale of the parent companies for future expansions and optimizing operations.

Growth Drivers

Rising Demand for Energy & Chemicals: India's economic growth, urbanization, and industrialization drive increasing demand for petroleum products, LPG, LNG, and a wide range of chemicals, necessitating more storage infrastructure.

Government Focus on Gas-Based Economy: Initiatives promoting the use of cleaner fuels like LPG and LNG will boost import and distribution infrastructure requirements.

"Make in India" Initiative: Growth in domestic manufacturing, particularly in the chemical and petrochemical sectors, will create demand for storage and logistics services for raw materials and finished products.

Strategic Port Development: Government investments in port infrastructure and connectivity enhance the viability and demand for port-based storage terminals.

Capacity Expansion/Acquisitions: Potential for the company to expand existing terminal capacities or acquire new strategically located assets.

Risks

Regulatory & Environmental Risks: Strict and evolving environmental regulations, safety standards, and land acquisition challenges can impact operations and expansion plans.

Commodity Price Volatility: While storage is somewhat demand-agnostic, extreme volatility or sustained low prices for stored commodities can reduce overall trade volumes and impact client demand for storage.

Competition: Intense competition from other private terminal operators, captive facilities of large industries, and public sector entities can pressure pricing and utilization rates.

Operational & Safety Risks: The inherent risks associated with handling hazardous materials, including potential accidents, spills, or fires, can lead to financial losses, reputational damage, and regulatory penalties.

Economic Downturn: A significant slowdown in industrial activity or overall economic growth in India could reduce demand for bulk liquid and gas storage.

Management & Ownership

Aegis Vopak Terminals Ltd. is jointly owned by Aegis Logistics Ltd. (an Indian logistics and infrastructure company) and Royal Vopak N.V. (a Dutch multinational independent tank storage company). The ownership structure is typically a 50:50 joint venture, combining the local market expertise and operational capabilities of Aegis with the global standards, technical prowess, and extensive industry experience of Royal Vopak. Management is typically comprised of professionals from both parent companies, ensuring a blend of international best practices and strong local market acumen.

Outlook

Aegis Vopak Terminals operates in a stable, infrastructure-centric business benefiting from India's long-term economic growth trajectory and increasing demand for energy and chemical products. The joint venture's robust parentage provides significant competitive advantages in terms of expertise, safety, and client networks. The bullish case rests on India's sustained industrialization and urbanization, which will continue to drive demand for reliable bulk liquid and gas storage infrastructure. The company's strategic locations and operational excellence should enable it to capture a significant share of this growth. However, the bearish case considers potential headwinds from intense competition, volatile commodity markets impacting trade flows, and evolving environmental regulations that could increase operational costs or restrict expansion. Overall, AEGISVOPAK is positioned as a critical infrastructure provider with steady long-term growth potential, contingent on prudent capital allocation and effective navigation of regulatory and competitive landscapes.

Aegis Vopak Terminal Share Price

Live · BSE / NSE · Inception: 2013
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Aegis Vopak Terminal Quarterly Results

#(Fig in Cr.) Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Net Sales 154 149 161 199 208 188 197 243 234
Other Income 2 2 8 16 11 1 3 4 4
Total Income 156 150 169 215 219 189 200 248 238
Total Expenditure 41 39 43 55 53 50 52 64 54
Operating Profit 116 111 127 160 167 139 149 184 184
Interest 48 47 50 48 30 18 20 41 39
Depreciation 31 32 32 37 42 50 50 55 55
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0
Profit Before Tax 37 32 45 75 95 71 79 87 89
Provision for Tax 11 10 7 11 16 17 18 13 20
Profit After Tax 26 22 38 64 79 54 62 74 69
Adjustments 0 0 0 -6 -8 -0 0 -5 -3
Profit After Adjustments 26 22 38 58 71 54 62 69 66
Adjusted Earnings Per Share 0.3 0.2 0.4 0.6 0.6 0.5 0.6 0.6 0.6

Aegis Vopak Terminal Profit & Loss

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
Net Sales 0 353 562 789 923 862
Other Income 0 3 8 32 37 12
Total Income 0 356 570 821 961 875
Total Expenditure 1 124 164 214 237 220
Operating Profit -1 232 406 606 724 656
Interest 1 138 171 193 110 118
Depreciation 0 91 114 148 208 210
Exceptional Income / Expenses 0 0 0 0 0 0
Profit Before Tax -1 3 121 265 406 326
Provision for Tax 0 3 34 41 65 68
Profit After Tax -1 -0 87 225 342 259
Adjustments 0 0 0 -24 -31 -8
Profit After Adjustments -1 -0 87 200 310 251
Adjusted Earnings Per Share -0 -0 1 2 2.8 2.3

Aegis Vopak Terminal Balance Sheet

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Shareholder's Funds 2 953 997 1342 4291
Minority's Interest 0 0 0 152 128
Borrowings 98 1745 2586 2353 347
Other Non-Current Liabilities 0 653 727 1551 1665
Total Current Liabilities 2 128 213 1349 1991
Total Liabilities 103 3479 4523 6747 8421
Fixed Assets 20 3030 3491 5046 6650
Other Non-Current Assets 74 269 665 711 1035
Total Current Assets 9 180 368 990 735
Total Assets 103 3479 4523 6747 8421

Aegis Vopak Terminal Cash Flow

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 0 7 23 141 721
Cash Flow from Operating Activities 1 172 337 576 702
Cash Flow from Investing Activities -92 -1786 -857 -381 -3077
Cash Flow from Financing Activities 99 1629 603 385 1956
Net Cash Inflow / Outflow 7 16 83 581 -419
Closing Cash & Cash Equivalent 7 23 106 721 302

Aegis Vopak Terminal Ratios

# Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) -0.02 -0 1 2.03 2.8
CEPS(Rs) -0.02 1.05 2.31 3.77 4.96
DPS(Rs) 0 0.05 0.33 0 0.2
Book NAV/Share(Rs) 0.04 6.09 6.58 7.74 30.77
Core EBITDA Margin(%) 0 64.9 70.77 72.84 74.37
EBIT Margin(%) 0 39.84 51.96 58.13 55.92
Pre Tax Margin(%) 0 0.74 21.54 33.63 44.03
PAT Margin (%) 0 -0.02 15.41 28.49 37.04
Cash Profit Margin (%) 0 25.79 35.7 47.2 59.55
ROA(%) -1.06 -0 2.16 3.99 4.51
ROE(%) -61.04 -0.03 15.74 33.65 16.38
ROCE(%) -0.57 11.86 10.75 14.32 11.76
Receivable days 0 37.13 65.4 58.08 60.49
Inventory Days 0 4.22 4.55 4.75 6.35
Payable days 0 0 0 0 0
PER(x) 0 0 0 0 57.72
Price/Book(x) 0 0 0 0 5.26
Dividend Yield(%) 0 0 0 0 0.12
EV/Net Sales(x) 0 4.88 4.42 3.48 21.38
EV/Core EBITDA(x) -160.54 7.43 6.11 4.53 27.26
Net Sales Growth(%) 0 0 58.99 40.49 16.96
EBIT Growth(%) 0 0 107.38 57.18 12.51
PAT Growth(%) 0 93.13 0 159.8 52.07
EPS Growth(%) 0 96.36 0 103.31 38.24
Debt/Equity(x) 51.93 3.3 4.53 3.25 0.62
Current Ratio(x) 4.25 1.41 1.73 0.73 0.37
Quick Ratio(x) 4.16 1.35 1.7 0.72 0.36
Interest Cover(x) -1.1 1.02 1.71 2.37 4.7
Total Debt/Mcap(x) 0 0 0 0 0.12

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +17% +38% — —
Operating Profit CAGR +19% +46% — —
PAT CAGR +52% — — —
Share Price CAGR +11% — — —
ROE Average +16% +22% +1% +1%
ROCE Average +12% +12% +10% +10%

Aegis Vopak Terminal Shareholding Pattern

Latest · Jun 2026
100% held
Promoters 86.93 %
FII 5.36 %
DII (MF + Insurance) 5.3 %
Public (retail) 2.41 %
# Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Promoter 86.9386.9386.9386.9386.93
FII 5.876.076.035.895.36
DII 5.295.044.984.895.3
Public 1.91.962.062.282.41
Others 00000
Total 100100100100100

Aegis Vopak Terminal Peer Comparison

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Aegis Vopak Terminal Quarterly Price

10-year quarterly close · BSE
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News & Updates

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Aegis Vopak Terminal Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 22%
  • Company has reduced debt.

Cons

  • Stock is trading at 9.3 times its book value.
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