Aegis Logistics Limited · NSE:AEGISLOG

Aegis Logistics — FY2015 Earnings Presentation

30 slides from Aegis Logistics's earnings presentation, May 2015

1. Slide 1: Aegis Logistics Limited

   Aegis Logistics Limited May 2015

2. 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

3. Slide 3: Business Transformation

   Business Transformation Reported Profit After Tax (Rs Crs) 01 Unwinding FX Contracts  Unwinding of Options Contract in Feb 2013  Currently Plain Vanilla Forward Contract based Hedging 112 02 Pipavav Phase I Expansion  120,120 KL of Liquid & 2700 MT of LPG  Total Project Cost of Rs 110 Cr CAGR +7

4. Slide 4: Gears for Growth

   Gears for Growth Haldia Expansion Mumbai Port - Jetty  Current Capacity fully utilized  Work in Progress for development of New Jetty  Brownfield expansion of 9,000 KL at Mumbai Port  It will increase volume at our Mumbai Terminal Kandla Expansion  5 Acres of Land Allotted to Distribution Netwo

5. Slide 5: Business Overview

   Business Overview Liquid Division Gas Division  Business  Business  Third Party Liquid Logistics (3PL)  Third Party Gas Logistics (3PL) FY15 EBITDA  O&M Services  Auto Gas Retailing and Packed Rs 182 Cr LPG Cylinders for Commercial Segment  Industrial Gas Distribution  Gas Sourcing Gas  Mar

6. Slide 6: Liquid Logistics and O&M Services

   Liquid Logistics and O&M Services Liquid Logistics (3PL) O&M Services Shipping Terminalling O&M Facilities Segment Activity Revenue Stream Storage and Throughput Fees, Handling & Value Liquid Logistics Terminalling Addition Service Charges O&M Services Operations & Maintenance O&M Fees 6

7. Slide 7: Liquid Terminal Facilities

   Liquid Terminal Facilities Existing Facilities Port Capacity (KL) Trombay Mumbai 198,000 Ambapada Mumbai 75,000 Willingdon Island Kochi 51,000 Chiranjibpur Haldia 60,190 Pipavav Gujarat 1,20,120 Built up of Capacities 504 120 60 273 51 Mumbai Kochi Haldia Pipavav Total Total capacity : ~ 500,000 KL

8. Slide 8: Liquid Division Performance

   Liquid Division Performance Revenue (Rs. Crs.) Normalized EBITDA (Rs. Crs.) * 153 97.4 131 83.5 107 61.2 92 87 54.2 81 49.7 45.9 FY10 FY11 FY12 FY13 FY14 FY15 FY10 FY11 FY12 FY13 FY14 FY15 * - Normalized EBITDA – Before Forex, Hedging Related Expenses 8

9. Slide 9: Capturing Complete LPG Value Chain

   Capturing Complete LPG Value Chain 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 & Value Gas Logistics Terminalli

10. Slide 10: Gas Distribution Network

    Gas Distribution Network B2C  Auto Gas Retailing: Distribute LPG as Auto Fuel through Gas Station Network  101 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 Cylind

11. Slide 11: Gas Division Performance

    Gas Division Performance Revenue (Rs. Crs.) Normalized EBITDA (Rs. Crs.) * 4,900 95.1 4,371 85.1 85.0 3,874 3,763 60.5 46.1 42.8 1,724 224 FY10 FY11 FY12 FY13 FY14 FY15 FY10 FY11 FY12 FY13 FY14 FY15 * - Normalized EBITDA – Before Forex, Hedging Related Expenses 11

12. Slide 12: LPG Volume Break-up

    LPG Volume Break-up Distribution (‘000 MT) Logistics (‘000 MT) 53 620 626 48 49 44 42 477 39 460 417 272 FY10 FY11 FY12 FY13 FY14 FY15 FY10 FY11 FY12 FY13 FY14 FY15 12

13. Slide 13: Aegis enters into a Joint Venture for its Singapore based LPG Sourcing and Supply Business

    Aegis enters into a Joint Venture for its Singapore based LPG Sourcing and Supply Business with ITOCHU Petroleum Co., (Singapore) Pte Ltd 13

14. Slide 14: Powerful Partners…

    Powerful Partners…  Aegis Group International Pte. Ltd (AGI) is a sourcing and trading subsidiary of Aegis Logistics Limited, leading Oil, Gas & Chemical Logistics Company  Aegis Logistics has five distinct but related business segments, and operates a national network of Liquid Terminals, LPG Ter

15. Slide 15: …Creating 'Leading LPG Sourcing Player in India'

    …Creating ‘Leading LPG Sourcing Player in India’ Aegis Logistics Limited sold 40% of its equity ownership in its wholly owned subsidiary, Aegis Group International Pte. Ltd. Singapore, to ITOCHU Petroleum Co., (Singapore) Pte Ltd., a wholly owned subsidiary of ITOCHU Corporation for a total consider

16. Slide 16: … through 'Vertical Integration Strategy'

    … through ‘Vertical Integration Strategy’ Gas Distribution Gas Logistics (3PL) AND/OR Gas Sourcing Sourcing Fees Industrial Sourcing Shipping Terminalling Auto Gas Sourcing, Shipping & Cost Optimization Commercial 16

17. Slide 17: JV : Best of both Worlds

    JV : Best of both Worlds Aegis ITOCHU  Growing LPG Market in India  Large Volume of LPG Sourcing  0.85 mn MT p.a. throughput  Efficient and Cost Effective Shipping capacity at Mumbai and Pipavav Port for High Volumes  Strong Customer Relationships with Large Oil Companies  Strong Negotiating P

18. Slide 18: Strategic Rationale for JV

    Strategic Rationale for JV 1 Increase market share in India’s LPG Import 5 2 Cost Leadership in LPG Future Strategy Import Market 4 3 Unique Port Infrastructure Presence at Strategic Locations 18

19. Slide 19: Increase market share in India's LPG Import

    1 Increase market share in India’s LPG Import Consumptions of LPG in India (mn MT) Imports of LPG in India (mn MT) +6% 16.3 6.6 15.3 15.6 6.3 14.3 +16% 5.8 13.1 12.0 12.2 10.8 4.5 2.8 2.7 2.3 2.4 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14P FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 Aegis sourced 0.8mn MT

20. Slide 20: Cost Leadership in LPG Import Market

    2 Cost Leadership in LPG Import Market ITOCHU  Negotiating Power Product  World wide linkages with Global Oil Companies Planning & Sourcing  Large Volume of LPG Sourcing Distribution  Efficient Shipping & Supplies & Clubbing Cargo Evacuation  Fleet of VLGCs  Optimizing Shipping & Supply System

21. Slide 21: Presence at Strategic Locations

    3 Presence at Strategic Locations Aegis – Gas Terminal Facilities  Own & Operate 25,400 MT Gas Terminal with Throughput Capacity of 0.85 mn MT  Mumbai Port – Owned Land (Mumbai Port Trust)  Pipavav Port – Lease with GPPL  Expanding Pipavav Gas Capacity from 5,400 MT to 8,100 MT (0.1 mn MT throug

22. Slide 22: Unique Port Infrastructure

    4 Unique Port Infrastructure Aegis - Gas Infrastructure Terminal Facilities Port Capacity (MT)  Owns and Operates Refrigerated Gas Terminal in Mumbai and Spherical Existing - Trombay Mumbai 20,000 Pressurized Gas Terminal in Pipavav along with Jetty pipeline Existing – Pipavav Gujarat 5,400  Direc

23. Slide 23: Future Strategy

    5 Future Strategy Target : Market Share of 20-25% with 2.5 mn MT of sales volume in 5 years  New LPG import terminals required to cater to the growing LPG imports  Our next phase of growth in LPG business will come from investments in Port Infrastructure for LPG imports  LPG terminals at ports wi

24. Slide 24: Multiple Growth Drivers

    Multiple Growth Drivers  Haldia & Pipavav Fully Operational in FY15 Capacity  Capacity Expansion at Pipavav, Haldia & Kandla Expansion  Strengthening Distribution Network for Commercial Packed Cylinders  Expanding Auto Gas Station network in Tier I & II cities  Cap on Supply increased to Twelve

25. Slide 25: Consolidated Profitability Statement

    Consolidated Profitability Statement Rs Crs Q4FY15 Q4FY14 Y-o-Y % Revenue 520 1,100 -53% Cost of Sales 445 1,044 Others 23 24 Normalized EBITDA (Segment) * 52 32 63% Finance, Hedging & Forex related Expenses (Net) 6 8 Depreciation 5 5 Unallocated Expenses 8 6 Profit Before Tax 33 13 154% Tax 9 1 Pro

26. Slide 26: Consolidated Profitability Statement

    Consolidated Profitability Statement Rs Crs FY15 FY14 Y-o-Y % Revenue 3,916 5,031 -22% Cost of Sales 3,635 4,804 Others 99 83 Normalized EBITDA (Segment) * 182 144 26% Finance, Hedging & Forex related Expenses (Net) 19 19 Depreciation 22 21 Unallocated Expenses 30 25 Profit Before Tax 111 79 41% Cap

27. Slide 27: Consolidated Balance Sheet

    Consolidated Balance Sheet Rs. Crs Mar-15 Mar-14 Rs. Crs Mar-15 Mar-14 Shareholder’s Fund 427 349 Non-Current Assets 558 552 ShareCapital 33 33 Fixed Assets * 488 462 Reserves & Surplus 394 316 Non-Current Investments 3 10 Minority Interest 26 13 Other Non-Current Assets 67 80 Non-Current Liabilitie

28. Slide 28: Dividend Track Record

    Dividend Track Record Dividend 37% 34% 40% 29% 24% Payout 31.0 18.3 14.9 10.1 7.5 5.9 5.3 4.0 4.0 2.0 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 DPS EPS 28

29. Slide 29: Sub-Division of Shares

    Sub-Division of Shares The Board recommended Sub-Division (Stock Split) of 1 (one) equity share of Rs 10 each of the Company into 10 (ten) equity shares of Re. 1 each and consequential alteration of Memorandum of Association and the Articles of Association of the Company (subject to approval of the

30. Slide 30: 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 dpayal@sgapl.net / kjigar

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