Aegis Logistics Limited · NSE:AEGISLOG
Aegis Logistics — Investor Presentation (May 2019)
40 slides from Aegis Logistics's investor presentation, May 2019
Slide 1: Aegis Logistics Limited – Investor Presentation May 2019
Aegis Logistics Limited “Positioned for growth” Investor Presentation May 2019
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: Business Highlights
Business Highlights Highest Ever EBITDA & PBT LPG DIVISION NEW PROJECT at Kandla Port LIQUID DIVISION EXPANSION PROJECT EXPANSION at at Pipavav Port Kandla Port Mangalore Port Kochi Port 3
Slide 4: Highest Ever Annual Performance
Highest Ever Annual Performance Rs. in Cr. EBITDA PBT 412 302 306 225 246 173 225 153 182 144 111 79 FY14 FY15 FY16 FY17 FY18 FY19 FY14 FY15 FY16 FY17 FY18 FY19 Highest Ever EBITDA Highest Ever PBT 4
Slide 5: Kandla Port – New LPG Project
Kandla Port – New LPG Project Gas Division Static Capacity ▪ 45,000 MT – 2 Fully Refrigerated Tanks of 22,500 MT each Kandla Throughput Capacity Gujarat ▪ 4,000,000 MT at full utilization Pipeline grid at Kandla Port ▪ JLPL Pipeline and proposed KGPL line Project Completion Date Project Cost Financi
Slide 6: Pipavav Port - Brownfield Capacity Expansion for LPG
Pipavav Port - Brownfield Capacity Expansion for LPG ✓ Static Capacity ▪ Existing: 18,300 MT ▪ Additional: 3,800 MT ✓ Railway Gantry for LPG ✓ Throughput Capacity at full utilization Pipavav ▪ Existing: ~14,00,000 MT Gujarat ▪ Additional: ~2,00,000 MT ✓ Project Cost ▪ Rs 75 crs ✓ Means of Finance ▪
Slide 7: Kandla Port – Expansion of Liquid Capacity
Kandla Port – Expansion of Liquid Capacity Liquid Division Kandla Capacity ▪ 40,000 KL Gujarat Project Cost ▪ Rs 25 crs Financing Liquid Capacity at Kandla ▪ Internal Accruals ‘000 KL 140 Project Completion Date 40 ▪ H2 FY20 100 Existing Expansion Total 7
Slide 8: Kochi Port – Expansion of Liquid Capacity
Kochi Port – Expansion of Liquid Capacity Liquid Division Capacity ▪ 20,000 KL Project Cost Kochi ▪ Rs 15 crs Kerala Financing Liquid Capacity at Kochi ▪ Internal Accruals ‘000 KL 71 51 20 Project Completion Date ▪ Q4 FY20 Existing Expansion Total 8
Slide 9: Mangalore Port – Expansion of Liquid Capacity
Mangalore Port – Expansion of Liquid Capacity Liquid Division Capacity ▪ 50,000 KL Project Cost ▪ Rs 35 crs Mangalore Karnataka Financing Liquid Capacity at Mangalore ▪ Internal Accruals ‘000 KL 75 Project Completion Date 50 ▪ FY21 25 Existing Expansion Total 9
Slide 10: 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 FY19 EBITDA – Auto Gas Retailing and Packed LPG Cylinders for Commercial segment Rs. 412 Cr – Industrial Gas Distribution Liquid – Marine
Slide 11: Gas Logistics
Gas Logistics 11
Slide 12: 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 13: 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 +255% +1,447% 24,918 13,194 23,342 21,537 11,380 11,026 14,331 10,456 4,484 7,016 2,883 853 2000-01 2005-06 2010-11 2016-17 2017-18 2018-19 2000-01 2005-06 2010-11 2016-17 2017-18 2018-19
Slide 14: Increasing LPG imports will need Terminal Capacity
Metric 0 5 10 15 20 Tons 25 Million 30 35 40 45 2005-06 2005-06 2006-07 2007-08 2008-09 Domestic Supply 2009-10 2010-11 Source: PPAC/IOC and Management Estimates 2011-12 2012-13 Demand 2013-14 2014-15 2015-16 2016-17 2017-18 Imports: 13 2018-19 2019-20 25 13 2020-21 2021-22 2022-23 2023-24 2024-25 2
Slide 15: LPG Static Capacity Post Expansion ~4X
LPG Static Capacity Post Expansion Static Capacity MT Mumbai Pipavav 20,000 20,000 22,100 +86,700 MT 1,12,100 ~4X 5,400 2015-16 2020-21 2015-16 2020-21 63,300 Haldia Kandla 25,000 45,000 38,300 28,100 25,400 NIL NIL 2015-16 2016-17 2017-18 2018-19 2020-21 2015-16 2018-19 2015-16 2020-21 15
Slide 16: LPG Throughput Capacity Post Expansion ~12X
LPG Throughput Capacity Post Expansion Throughput Capacity MT Mumbai Pipavav 11,00,000 16,00,000 +8,450,000 MT 92,00,000 5,00,000 ~12X 2,50,000 2015-16 2020-21 2015-16 2020-21 50,00,000 Haldia Kandla 25,00,000 40,00,000 25,00,000 13,00,000 7,50,000 NIL NIL 2015-16 2016-17 2017-18 2018-19 2020-21 201
Slide 17: 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 18: 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 Completed Project Status: ▪ Q3 FY17-18 ▪ Intake Pumps - Completed ✓ Pipeli
Slide 19: Our Gas Distribution Network
Our Gas Distribution Network B2C ▪ Auto Gas Retailing: Distribute LPG as Auto Fuel through Gas Station Network ▪ 113 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 20: Gas Division: Highest Operating Performance
Gas Division: Highest Operating Performance EBITDA (in Crs) Logistics (‘000 MT) Distribution (‘000 MT) Rs. in Cr. 309 2,522 114 1,743 78 203 1,365 59 155 50 123 979 42 85 626 FY15 FY16 FY17 FY18 FY19 FY15 FY16 FY17 FY18 FY19 FY15 FY16 FY17 FY18 FY19 Outpaced FY18 Performance 20
Slide 21: 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 Average ~51 Avg ~77 +64% 89 80 78 62 59 54 51 46 42 39 39 35 35 27 27 27 22 24 20 19 Q1FY15 Q2FY15 Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16 Q4FY16 Q
Slide 22: LPG Volume - Logistics
LPG Volume - Logistics ‘000 MT Average ~157 Average ~245 Average ~341 Average ~436 Avg ~631 +48% 710 663 577 572 521 479 434 442 400 308 302 268 279 252 200 197 206 163 132 131 Q1FY15 Q2FY15 Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16 Q4FY16 Q1FY17 Q2FY17 Q3FY17 Q4FY17 Q1FY18 Q2FY18 Q3FY18 Q4FY18 Q1FY19 Q2FY
Slide 23: LPG Volume - Distribution
LPG Volume - Distribution ‘000 MT Average ~10 Average ~13 Average ~15 Average ~20 Avg ~29 +42% 34 31 28 21 22 22 18 17 15 15 15 14 13 13 13 11 12 10 11 10 Q1FY15 Q2FY15 Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16 Q4FY16 Q1FY17 Q2FY17 Q3FY17 Q4FY17 Q1FY18 Q2FY18 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 23
Slide 24: Liquid Logistics
Liquid Logistics 24
Slide 25: 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 25
Slide 26: Liquid Traffic at Indian Ports
Liquid* Traffic at Indian Ports POL Traffic Growth at Indian Ports POL Traffic at Major Ports* mn MT +50% Kandla Haldia 406.7 7% 17% 386.3 Paradip 16% 367.0 349.3 350.3 Mumbai 333.9 9% 325.3 330.2 312.6 JNPT Visakhapatnam 10% 9% 272.0 Kamarajar New Chennai 5% Mangalore 8% 6% Kochi 5% V.O. Chidambara
Slide 27: 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 28: Brownfield Liquid Terminal Expansion
Brownfield Liquid Terminal Expansion Liquid Terminal Expansion at Haldia Port – 35,000 KL West Bengal Phase II Project Cost Means of Finance Project Completion Date 35,000 KL ▪ Rs 35 crs ▪ Internal Accruals ▪ H1 FY18 - 19 Maps not to scale. All data, information, and maps are provided "as is" withou
Slide 29: Liquid Capacity Post Expansion
Liquid Capacity Post Expansion 01 Mumbai Built up of Capacities (‘000s KL) Existing Proposed ✓ Existing – 273,000 KL 02 Kochi 75 799 25 ✓ Existing – 51,000 KL 140 50 ✓ Expansion – 20,000 KL 100 03 Haldia 40 ✓ Existing – 120,190 KL 120 04 Pipavav 120 ✓ Existing – 120,120 KL 71 273 51 05 Kandla 20 ✓ E
Slide 30: Liquid Division Performance
Liquid Division Performance Revenue (Rs. In Cr.) Normalized EBITDA (Rs. In Cr.) +10% +21% • New Capacities fully 44 48 operational 29 24 • Margins to improve with better utilization of new capacities Q4FY18 Q4FY19 Q4FY18 Q4FY19 184 102 103 104 171 168 97 91 153 154 84 131 2013-14 2014-15 2015-16 201
Slide 31: Leading provider of logistics and supply chain services
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 31
Slide 32: 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 113 Autogas stations in 7 states ▪ Coat
Slide 33: Our Strategy: Building a Necklace of Terminals
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 34: Strong Industry Partners
Strong Industry Partners AEGIS (6) Gs ASHV Gas TATA TATA STEEL eS BS CD es Mahindra Os Q Reliance Industries Limited IndianOil PIAGGIO’ 34
Slide 35: Management Team
Management Team Raj Chandaria Anish Chandaria Chairman & MD Vice Chairman & MD Sudhir Malhotra Rajiv Chohan Group President & COO President -Business Development Murad Moledina K. S. Sawant Chief Financial Officer President - Operations & Projects 35
Slide 36: Financial Performance
Financial Performance Solid Foundations 36
Slide 37: Consolidated Profitability Statement
Consolidated Profitability Statement Rs. In Cr. Q4 FY19 Q4 FY18 Y-o-Y % FY19 FY18 Y-o-Y % Revenue 1,856 1,252 48% 5,619 4,791 17% Cost of Sales 1,690 1,131 5,037 4,355 Others 48 42 169 130 Normalized EBITDA (Segment) * 118 80 48% 412 306 35% Finance, Hedging & Forex related 4 3 19 17 Expenses (Net)
Slide 38: Consolidated Balance Sheet
Consolidated Balance Sheet Rs. In Cr. Mar-19 Mar-18 Rs. In Cr. Mar-19 Mar-18 Non Current Assets Equity Property, Plant and Equipment 1,326 1,280 Equity Share Capital 33 33 Other Equity 1,358 1,174 Capital Work in Progress 121 126 Equity Attributable to owners 1,391 1,207 Other Intangible Assets 1 1
Slide 39: Profit & Dividend Track Record
Profit & Dividend Track Record Dividend 32% 35% 44% 34% 24% 32% 34% 25% 22% Payout Rs. In Cr. Dividend Paid Net Profit 252 198 113 120 103 61 56 47 50 34 36 41 22 21 25 15 8 15 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 Board of Directors recommended Final Dividend of 90
Slide 40: 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