Aegis Logistics Limited · NSE:AEGISLOG
Aegis Logistics — Investor Presentation (January 2019)
38 slides from Aegis Logistics's investor presentation, January 2019
Slide 1: Aegis Logistics Limited – Positioned for growth
Aegis Logistics Limited “Positioned for growth” Investor Presentation January 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 Nine Months EBITDA & PBT NEW LPG PROJECT at Kandla Port EXPANSION OF LIQUID DIVISION at Kandla Port 3
Slide 4: Highest Ever Nine Months Performance
Highest Ever Nine Months Performance Rs. in Cr. EBITDA PBT 306 225 294 215 246 173 225 153 182 144 111 79 FY14 FY15 FY16 FY17 FY18 9MFY19 FY14 FY15 FY16 FY17 FY18 9MFY19 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 ▪ 4,000,000 MT at full utilization Gujarat Pipeline grid at Kandla Port ▪ JLPL Pipeline and proposed KGPL line Project Completion Date Project Cost Financi
Slide 6: 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 6
Slide 7: 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 9MFY19 EBITDA – Auto Gas Retailing and Packed LPG Cylinders for Commercial segment Rs. 294 Cr – Industrial Gas Distribution Liquid – Mari
Slide 8: Gas Logistics
Gas Logistics 8
Slide 9: 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 10: 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 +233% CAGR 17% 23,342 11,380 11,026 21,537 9,472 18,125 14,331 10,456 4,484 7,016 2,883 853 2000-01 2005-06 2010-11 2016-17 2017-18 2018- 2000-01 2005-06 2010-11 2016-17 2017-18 2018- 19
Slide 11: Increasing LPG imports will need Terminal Capacity
Tons Metric Million 0 5 10 15 20 25 30 35 40 2004-05 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(P) 2017-18 11 22 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26 2026-
Slide 12: LPG Capacity Post Expansion
LPG Capacity Post Expansion Static Capacity MT Throughput Capacity MT 108,300 9,000,000 2,500,000 45,000 4,000,000 1,300,000 750,000 1,400,000 600,000 25,000 250,000 38,300 2,500,000 28,100 25,400 18,300 18,300 5,400 8,100 500,000 700,000 1,100,000 1,400,000 20,000 20,000 20,000 20,000 1,100,000 201
Slide 13: 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 14: 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 15: 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 Completed expected to grow ▪ Q3 FY1
Slide 16: Our Gas Distribution Network
Our Gas Distribution Network B2C ▪ Auto Gas Retailing: Distribute LPG as Auto Fuel through Gas Station Network ▪ 112 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 17: Gas Division: Highest Operating Performance
Gas Division: Highest Operating Performance EBITDA (in Crs) Logistics (‘000 MT) Distribution (‘000 MT) Rs. in Cr. 220 1,812 84 1,743 203 78 1,365 155 59 50 123 979 42 85 626 FY15 FY16 FY17 FY18 9MFY19 FY15 FY16 FY17 FY18 9MFY19 FY15 FY16 FY17 FY18 9MFY19 Outpaced FY18 Performance 17
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 Average ~51 Avg ~73 +31% 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 Q1FY
Slide 19: LPG Volume - Logistics
LPG Volume - Logistics ‘000 MT Average ~157 Average ~245 Average ~341 Average ~436 Avg ~604 +10% 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 Q2FY19 Q
Slide 20: LPG Volume - Distribution
LPG Volume - Distribution ‘000 MT Average ~10 Average ~13 Average ~15 Average ~20 Avg ~28 +60% 34 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 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* mn MT +38% Others Haldia 376.7 3% 4% Paradip Kandla 16% 27% 349.3 350.8 348.3 325.3 330.2 Visakhapatnam 312.6 7% Chennai 272.0 Kochi 6% Mumbai 16% 9% JNPT 2% New Mangalore 10% FY09 FY10 FY11 FY12 FY13 FY14
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 – 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 26: Liquid Capacity Post Expansion
Liquid Capacity Post Expansion 01 Mumbai Built up of Capacities (‘000s KL) Existing Proposed ✓ Existing – 273,000 KL 02 Kochi 25 729 140 ✓ Existing – 51,000 KL 100 03 Haldia 40 ✓ Existing – 120,190 KL 120 04 Pipavav 120 ✓ Existing – 120,120 KL 273 51 05 Kandla ✓ Existing – 100,000 KL ✓ New Capacity
Slide 27: Liquid Division Performance
Liquid Division Performance Revenue (Rs. In Cr.) Normalized EBITDA (Rs. In Cr.) +15% -1% • New Capacities fully 46 operational 25 25 40 • Margins to improve with better utilization of new capacities Q3FY18 Q3FY19 Q3FY18 Q3FY19 171 168 102 103 +10% 97 153 154 91 -6% 136 84 131 79 124 74 2013-14 2014-
Slide 28: 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 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 112 Autogas stations in 7 states ▪ Coat
Slide 30: 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 31: 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’ 31
Slide 32: 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 32
Slide 33: Financial Performance
Financial Performance Solid Foundations 33
Slide 34: Consolidated Profitability Statement
Consolidated Profitability Statement Rs. In Cr. Q3 FY19 Q3 FY18 Y-o-Y % 9MFY19 9MFY18 Y-o-Y % Revenue 1,320 1,443 -8% 3,763 3,543 6% Cost of Sales 1,176 1,326 3,347 3,223 Others 41 33 121 92 Normalized EBITDA (Segment) * 103 84 22% 294 228 29% Finance, Hedging & Forex related 4 5 15 12 Expenses (Net
Slide 35: Consolidated Profitability Statement
Consolidated Profitability Statement Rs. In Cr. FY18 FY17 Y-o-Y % Revenue 4,791 3,939 22% Cost of Sales 4,355 3,567 Others 130 125 Normalized EBITDA (Segment) * 306 247 24% Finance, Hedging & Forex related Expenses (Net) 17 18 Depreciation 32 24 Unallocated Expenses 32 33 Profit Before Tax 225 173 3
Slide 36: Consolidated Balance Sheet
Consolidated Balance Sheet Rs. In Cr. Sep-18 Mar-18 Rs. In Cr. Sep-18 Mar-18 Non Current Assets Equity Equity Share Capital 33 33 Property, Plant and Equipment 1,320 1,280 Other Equity 1,237 1,174 Capital Work in Progress 114 126 Equity Attributable to owners 1,271 1,207 Other Intangible Assets 1 1
Slide 37: Profit & Dividend Track Record
Profit & Dividend Track Record Dividend 32% 35% 44% 34% 24% 32% 34% 25% Payout Rs. In Cr. Dividend Paid Net Profit 198 120 113 103 61 47 50 36 41 34 22 21 25 15 15 8 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 Total Dividend for FY18 is 125% (i.e. Re. 1.25 per share) of Face Valu
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
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