Slide 1: Aegis Logistics Limited – Positioned for growth
Aegis Logistics Limited “Positioned for growth” Investor Presentation May 2017
Slide 2: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Aegis Logistics Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any secu
Slide 3: Another Strong Year
Another Strong Year Normalized Revenue PBT EBITDA* Rs. 3,938 crs Rs. 246 crs Rs. 172 crs +78% +9% +12% +78% +9% +12% 3,938 246 172 225 153 2,213 FY16 FY17 FY16 FY17 FY16 FY17 * Normalized EBITDA – Before Forex, Hedging Related Expenses 3
Slide 4: ITOCHU Petroleum to invest Rs. 250 Crores for 19.7% stake in Haldia LPG terminal
ITOCHU Petroleum Co., (Singapore) Pte Ltd to invest Rs. 250 Crores for 19.7% stake in the new Haldia LPG terminal project Aegis has reached an understanding that its wholly owned subsidiary, Hindustan Aegis LPG Company Ltd (HALPG) will issue new equity shares to ITOCHU Petroleum Co., (Singapore) Pte
Slide 5: Current Business Break-up
Current Business Break-up Liquid Division Gas Division ▪ Business ▪ Business – Third Party Liquid Logistics (3PL) – Third Party Gas Logistics (3PL) – O&M Services FY17 EBITDA – Auto Gas Retailing and Packed LPG Cylinders for Commercial segment Rs. 246 Cr – Industrial Gas Distribution – Marine Produc
Slide 6: Mission and Major Ongoing Expansion Projects
Major ongoing Expansion Projects Liquid - Kandla ▪ Capacity - 100,000 KL LPG - Pipavav ▪ Static Capacity – 10,200 MT Liquid - Haldia ▪ Throughput – 800,000 MT ▪ Capacity - 25,000 KL Mission To build an unrivalled national port infrastructure and distribution network in the Oil and Gas sector in Indi
Slide 7: Gas Logistics
Gas Logistics 7
Slide 8: Gas Logistics - Capturing Complete Value Chain
Gas Logistics - Capturing Complete Value Chain 40% 60% Gas Distribution Gas Logistics (3PL) AND/OR Gas Sourcing Sourcing Fees Industrial Sourcing Shipping Terminalling Auto Gas Segment Activity Revenue Stream Gas Sourcing Sourcing & Shipping Sourcing Commission Throughput Fees, Handling & Gas Logist
Slide 9: Demand Supply Gap exists for LPG in India
Demand Supply Gap exists for LPG in India... Consumption of LPG in India Imports of LPG in India ‘000 MT ‘000 MT +179% CAGR 17% 19,551 8,885 14,331 10,456 4,484 7,016 2,883 853 2000-01 2005-06 2010-11 2015-16 P 2000-01 2005-06 2010-11 2015-16 P Incremental Demand in LPG met through Imports •Source:
Slide 10: LPG Import Terminal Capacity has a Shortfall
...LPG Import Terminal Capacity has a Shortfall 30 Domestic Production Indian Imports 25 20 Mn MT 15 10 5 0 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Figures in MT 2014/15 2020/21 Comments Static Import Capacity 312,800 312,800* Aegis capacity in 2015 is 25,400 Import Throughput
Slide 11: To Capitalize on this Opportunity
To Capitalize on this Opportunity Leading LPG Logistics Player in India JV with ITOCHU ✓ Efficient and Cost Effective Shipping for High Volumes Expansion - Terminaling Capacity ✓ Strong Negotiating Power ✓ Growing LPG Market in India ✓ Financial Muscle ✓ Strong Customer Relationship ✓ Terminaling Ca
Slide 12: JV with ITOCHU
JV with ITOCHU Aegis entered into a Joint Venture for its Singapore based LPG Sourcing and Supply Business with ITOCHU Petroleum Co., (Singapore) Pte Ltd Aegis Logistics Limited sold 40% of its equity ownership in its wholly owned subsidiary, Aegis Group International Pte. Ltd. Singapore, to ITOCHU
Slide 13: LPG Capacity Post Expansion
LPG Capacity Post Expansion Static Capacity MT Throughput Capacity MT 63,300 5,000,000 Expansion in Haldia & Pipavav Debottlenecking in Mumbai 25,000 2,500,000 28,100 25,400 18,300 5,400 8,100 1,400,000 1,300,000 750,000 6,00,000 20,000 20,000 20,000 250,000 1,100,000 5,00,000 7,00,000 2015-16 2016-
Slide 14: Greenfield Capacity Expansion at Haldia
Greenfield Capacity Expansion at Haldia ✓ Static Capacity ▪ 25,000 MT – 2 Fully Refrigerated Tanks of 12,500 MT each ▪ 24 carousel (Filling Points) bottling plant ✓ Throughput Capacity ▪ 2,500,000 MT at full utilization ✓ ▪Project Cost Rs 250 crs – LPG Terminal West Bengal ▪ Rs. 25 crs – LPG Bottlin
Slide 15: Debottlenecking of LPG Terminals at Mumbai
Debottlenecking of LPG Terminals at Mumbai ✓ Static Capacity to remain same ▪ 20,000 MT ✓ Throughput Capacity ▪ 1,100,000 MT (incremental 400,000 MT) ✓ Project Cost ▪ Rs 15 crs ✓ Means of Finance ▪ Internal Accruals ✓ Project Completion Date Project Status: ▪ H1 FY17-18 ▪ Intake Pumps – Under Progre
Slide 16: Brownfield Capacity Expansion at Pipavav
Brownfield Capacity Expansion at Pipavav ✓ Static Capacity ▪ 10,200 MT ✓ Throughput Capacity ▪ ~800,000 MT at full utilization Gujarat Pipavav ✓ Project Cost ▪ Rs 75 crs ✓ Means of Finance ▪ Internal Accruals Throughput volumes for LPG handled in Pipavav ✓ Project Completion Date expected to grow ▪
Slide 17: Our Gas Distribution Network
Our Gas Distribution Network B2C ▪ Auto Gas Retailing: Distribute LPG as Auto Fuel through Gas Station Network ▪ 106 Auto Gas Stations across 7 States B2B ▪ Bulk Industrial Distribution: Distribute LPG through road tankers to Auto, Steel, Ceramic Industries etc ▪ Commercial LPG: Distribute Packed Cy
Slide 18: Gas Division Performance EBITDA
Gas Division Performance EBITDA* Capacity Existing & New Expansion Customer Relationships Sustainable Business Rs. in Cr. Average ~21 Average ~31 Average ~39 46 42 39 35 35 27 27 27 24 22 20 19 Q1FY15 Q2FY15 Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16 Q4FY16 Q1FY17 Q2FY17 Q3FY17 Q4FY17 * Normalized EBITDA –
Slide 19: LPG Volume - Logistics
LPG Volume - Logistics ‘000 MT Average ~157 Average ~245 Average ~338 434 400 308 268 279 238 200 197 206 163 132 131 Q1FY15 Q2FY15 Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16 Q4FY16 Q1FY17 Q2FY17 Q3FY17 Q4FY17 19
Slide 20: LPG Volume - Distribution
LPG Volume - Distribution ‘000 MT Average ~10 Average ~13 Average ~15 15 15 15 14 13 13 13 12 11 11 10 10 Q1FY15 Q2FY15 Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16 Q4FY16 Q1FY17 Q2FY17 Q3FY17 Q4FY17 20
Slide 21: Liquid Logistics
Liquid Logistics 21
Slide 22: Liquid Logistics and EPC Services
Liquid Logistics and EPC Services Liquid Logistics (3PL) O&M Services Shipping Logistics O&M Facilities Segment Activity Revenue Stream Throughput Fees, Handling & Value Liquid Logistics Logistics Addition Charges Operations & O&M Services O&M Fees Maintenance 22
Slide 23: Liquid Traffic at Indian Ports
Liquid* Traffic at Indian Ports POL Traffic Growth at Indian Ports POL Traffic at Major Ports in FY 2015P mn MT +27% Others Haldia Paradip 349.3 350.8 3% 3% 345.3 10% Kandla 330.2 29% Visakhapatnam 325.3 8% 312.6 Chennai 7% Kochi 7% 272.0 Mumbai 19% New JNPT Mangalore 2% 12% FY09 FY10 FY11 FY12 FY13
Slide 24: Greenfield Liquid Terminal Expansion
Greenfield Liquid Terminal Expansion Greenfield Liquid Terminal Expansion at Greenfield Liquid Terminal Expansion at Kandla Port – 100,000 KL Mangalore Port – 25,000 KL Kandla Gujarat Mangalore Karnataka ✓ Project Cost ✓ Project Cost ▪ Rs 75 crs ▪ Rs 18 crs ✓ Means of Finance ✓ Means of Finance ▪ In
Slide 25: Brownfield Liquid Terminal Expansion
Brownfield Liquid Terminal Expansion Liquid Terminal Expansion at Haldia Port – 25,000 KL West Bengal ✓ Project Cost ✓ Means of Finance ✓ Project Completion Date ▪ Rs 15 crs ▪ Internal Accruals ▪ Q1 FY17 - 18 Maps not to scale. All data, information, and maps are provided "as is" without warranty or
Slide 26: Liquid Capacity Post Expansion
Liquid Capacity Post Expansion 01 Mumbai Built up of Capacities (‘000s KL) ✓ Existing – 273,000 KL 654 02 Kochi Existing 25 ✓ Existing – 51,000 KL Expansion 100 03 Haldia 120 ✓ Expansion – 25,000 KL 85 ✓ Existing – 60,190 KL 60 04 Pipavav 25 ✓ Existing – 120,120 KL 273 51 05 Kandla ✓ Expansion – 100
Slide 27: Liquid Division Performance
Liquid Division Performance Revenue (Rs. In Cr.) Normalized EBITDA (Rs. In Cr.) +6% +27% 38 40 25 20 Q4FY16 Q4FY17 Q4FY16 Q4FY17 171 97 102 153 154 91 131 84 2013-14 2014-15 2015-16 2016-17 2013-14 2014-15 2015-16 2016-17 27
Slide 28: Leading provider of logistics and supply chain services to India's oil, gas and chemical industry
We are leading provider of logistics and supply chain services to India’s oil, gas and chemical industry Strategic port locations Storage terminals Rail connectivity Pipelines 28
Slide 29: Unique Infrastructure
Unique Infrastructure Liquids LPG ▪ Terminals at key ports- Mumbai, Kochi, ▪ Refrigerated Gas Terminal in Mumbai Haldia, Pipavav ▪ Pressurized Gas Terminal in Pipavav ▪ Jetty Pipelines ▪ Pipeline connectivity to Petchem plant ▪ Multiple tank sizes ▪ Network of 106 Autogas stations in 7 states ▪ Coat
Slide 30: Our Strategy: Building a Necklace of Terminals around the coastline of India
Our Strategy : Building a Necklace of Terminals around the coastline of India ✓ VLGC ▪ All Ports are Deep Water Ports to accommodate VLGC New Location ✓ Pipelines ▪ Pipeline Facilities for Larger Customers Kandla Pipavav Haldia ✓ Railways ▪ Railways available at Pipavav Mumbai and can be set up at a
Slide 31: Strong Industry Partners
Strong Industry Partners AEGIS (6) Gs ASHV Gas TATA TATA STEEL Be Bee CD es Mahindra Os Q Reliance Industries Limited IndianOil PIAGGIO’ 31
Slide 32: Management Team
Management Team Raj Chandaria Anish Chandaria Vice Chairman & MD MD & CEO Sudhir Malhotra Rajiv Chohan Group President & COO President -Business Development Murad Moledina K. S. Sawant Chief Financial Officer President - Operations & Projects 32
Slide 33: Financial Performance
Financial Performance Solid Foundations 33
Slide 34: Consolidated Profitability Statement
Consolidated Profitability Statement Rs. In Cr. Q4 FY17 Q4 FY16 Y-o-Y % Revenue 1,269 437 190% Cost of Sales 1,172 343 Others 32 32 Normalized EBITDA (Segment) * 65 62 5% Finance, Hedging & Forex related Expenses (Net) 6 4 Depreciation 6 6 Unallocated Expenses 10 10 Profit Before Tax 43 42 2% Tax 11
Slide 35: Annual Consolidated Profitability Statement
Annual Consolidated Profitability Statement Rs. In Cr. FY17 FY16 Y-o-Y % Revenue 3,938 2,213 78% Cost of Sales 3,567 1,874 Others 125 114 Normalized EBITDA (Segment) * 246 225 9% Finance, Hedging & Forex related Expenses (Net) 18 16 Depreciation 23 22 Unallocated Expenses 33 34 Profit Before Tax 172
Slide 36: Consolidated Balance Sheet
Consolidated Balance Sheet Rs. In Cr. Mar-17 Mar-16 Rs. In Cr. Mar-17 Mar-16 Shareholder’s Fund 602 504 Non-Current Assets 899 651 Share Capital 33 33 Fixed Assets * 784 545 Reserves & Surplus 569 471 Non-Current Investments - - Minority Interest 29 39 Other Non-Current Assets 115 106 Non-Current Li
Slide 37: Profit & Dividend Track Record
Profit & Dividend Track Record Dividend 32% 35% 44% 34% 24% 32% 34% Payout Rs. In Cr. Dividend Paid Net Profit 120 113 103 61 47 41 34 36 22 25 21 15 15 8 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 37
Slide 38: For further information, please contact
For further information, please contact: Company : Investor Relations Advisors : Aegis Logistics Limited Strategic Growth Advisors Pvt. Ltd. CIN: L63090GJ1956PLC001032 CIN: U74140MH2010PTC204285 Mr. Murad Moledina, CFO Ms. Payal Dave / Mr. Jigar Kavaiya murad@aegisindia.com payal.dave@sgapl.net / ji