Aegis Logistics Limited · NSE:AEGISLOG
Aegis Logistics — Investor Presentation (June 2020)
38 slides from Aegis Logistics's investor presentation, June 2020
Slide 1: Aegis Logistics Limited – Investor Presentation June 2020
Aegis Logistics Limited “Positioned for growth” Investor Presentation June 2020
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: 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 3
Slide 4: Vision and Corporate Strategy
Vision and Corporate Strategy Why we exist To provide integrated logistics services to the Indian oil, gas and chemicals industry by storing, moving and distributing products to our customers How By building an unrivalled national network of port-based oil and gas storage terminals, inland depots an
Slide 5: Unique Infrastructure
Unique Infrastructure Liquids LPG ▪ Terminals at key ports- Mumbai, Kochi, ▪ Refrigerated Gas Terminal in Mumbai and Haldia, Pipavav, Kandla & Mangalore Haldia ▪ Pressurized Gas Terminal in Pipavav ▪ Jetty Pipelines ▪ New Refrigerated Gas Terminal in Kandla ▪ Multiple tank sizes under-construction ▪
Slide 6: Record Performance Continues
Record Performance Continues Rs. In Cr Revenue Normalized EBITDA* Normalized PBT^ +28% +37% +48% 7,183 563 446 5,616 412 302 FY19 FY20 FY19 FY20 FY19 FY20 * Normalized EBITDA – Before Forex, Hedging Related Expenses ^ - Normalized PBT – Before Expenses as per Employee Stock Purchase Plan 6
Slide 7: Haldia Port – Expansion of Liquid Capacity
Haldia Port – Expansion of Liquid Capacity Liquid Division Capacity ▪ 12,000 KL West Bengal Project Cost ▪ Rs 10 crs Financing Liquid Capacity at Haldia ▪ Internal Accruals ‘000 KL 132 120 12 Project Completion Date ▪ FY21 Existing Expansion Total Maps not to scale. All data, information, and maps a
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 ▪ FY21 Existing Expansion Total Maps not to scale. All data, information, and maps are
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 Maps not to scale. All data, information
Slide 10: 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 Throughput Capacity ▪ 4,000,000 MT at full utilization On-Schedule Pipeline grid at Kandla Port ▪ JLPL Pipeline and proposed KGPL line Project Completion Date Project Cost Financing
Slide 11: 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 ▪ Agreement with Port reached ▪ To be commissioned by Q3FY21 Pipavav Gujarat ✓ Throughput Capacity at full utilization ▪ Existing: ~14,00,000 MT ▪ Additional:
Slide 12: 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 FY20 EBITDA – Auto Gas Retailing and Packed LPG Cylinders for Commercial segment Rs. 563 Cr – Industrial Gas Distribution Liquid – Marine
Slide 13: Gas Logistics
Gas Logistics 13
Slide 14: Gas Logistics - Capturing Complete Value Chain
Gas Logistics - Capturing Complete Value Chain Gas Logistics (3PL) Gas Distribution Terminalling 40% 60% Industrial Gas Sourcing Sourcing Shipping Auto Gas Segment Activity Revenue Stream Gas Sourcing Sourcing & Shipping Sourcing Commission Commercial Gas Logistics Terminalling Throughput Fees Indus
Slide 15: 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 16: Increasing LPG imports will need Terminal Capacity
...Increasing LPG imports will need Terminal Capacity Domestic Supply Base Case Demand High Growth Scenario 60 Imports: 38 50 50 Million 40 40 Metric Tons 30 Imports: 25 Imports: 13 20 25 13 15 10 12 0 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 20
Slide 17: 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 63,300 Haldia Kandla 25,000 45,000 38,300 28,100 25,400 NIL NIL 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2015-16 2018-19 2015-16 2020-
Slide 18: 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 ~12X 5,00,000 2,50,000 2015-16 2020-21 2015-16 2020-21 50,00,000 50,00,000 Haldia Kandla 25,00,000 40,00,000 25,00,000 Actual 13,00,000 Throughput 7,50,000 3.0 Mn MT NIL NIL 2015-
Slide 19: The path to increasing LPG Throughput volumes
The path to increasing LPG Throughput volumes Uran – Chakan • Commissioned June 2020 LPG pipeline • Potential incremental volumes of 0.5 Mn MT per year Railway interconnectivity • To be completed Q3 FY21 in Pipavav • Potential incremental volumes of 0.3 - 0.5 Mn MT per year New LPG terminal at • To
Slide 20: Medium Term Plan: 2020-2025
Medium Term Plan: 2020-2025 To further increase LPG capacity Debottlenecking and possible expansion at existing terminals in Haldia, Mumbai and Pipavav Kandla Haldia Pipavav Mumbai One additional LPG terminal in the South Maps not to scale. All data, information, and maps are provided "as is" withou
Slide 21: Retail LPG 5-year growth plan
Retail LPG 5-year growth plan Currently 115 stations over 7 states to grow to 200 stations Autogas stations over 20 states Expansion into a national distribution network for hotels, Commercial LPG market restaurants, industry under Aegis puregas brand Expansion in Tier 1, 2 & 3 urban cities with dis
Slide 22: Chota Cikander for domestic LPG market
Chota Cikander for domestic LPG market 22
Slide 23: Gas Division Performance EBITDA
Gas Division Performance EBITDA* Rs. in Cr. Capacity Existing & New Expansion Customer Relationships Sustainable Business Average ~39 Average ~51 Average ~77 Average ~106 +37% 122 122 99 89 80 78 80 59 62 54 51 46 39 39 35 35 Q1FY17 Q2FY17 Q3FY17 Q4FY17 Q1FY18 Q2FY18 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY
Slide 24: LPG Volume - Logistics
LPG Volume - Logistics ‘000 MT Average ~341 Average ~436 Average ~631 Average ~756 +3% 958 751 710 728 663 576 572 588 521 479 434 442 400 302 279 252 Q1FY17 Q2FY17 Q3FY17 Q4FY17 Q1FY18 Q2FY18 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 24
Slide 25: LPG Volume - Distribution
LPG Volume - Distribution ‘000 MT Average ~15 Average ~20 Average ~29 Average ~41 +49% 46 41 41 37 34 31 28 21 21 22 18 17 15 15 15 14 Q1FY17 Q2FY17 Q3FY17 Q4FY17 Q1FY18 Q2FY18 Q3FY18 Q4FY18 Q1FY19 Q2FY19 Q3FY19 Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 25
Slide 26: Liquid Logistics
Liquid Logistics 26
Slide 27: 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 27
Slide 28: Liquid Capacity Post Expansion
Liquid Capacity Post Expansion 01 Mumbai Built up of Capacities (‘000s KL) Existing Expansion ✓ Existing – 273,000 KL 02 Kochi 75 811 ✓ Existing – 51,000 KL 25 50 ✓ Expansion – 20,000 KL 03 Haldia 140 ✓ Existing – 120,190 KL ✓ Expansion – 12,000 KL 120 132 04 Pipavav 120 ✓ Existing – 120,120 KL 71 1
Slide 29: Liquid Division Performance
Liquid Division Performance Revenue (Rs. In Cr.) Normalized EBITDA (Rs. In Cr.) +14% +26% • New Capacities fully 53 operational 37 47 29 • Margins to improve with better utilization of new capacities Q4 FY19 Q4 FY20 Q4 FY19 Q4 FY20 +14% +35% 208 140 183 171 168 154 102 103 104 91 FY16 FY17 FY18 FY19
Slide 30: 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 ✓ Pipelines ▪ Pipeline Facilities for Larger Customers Kandla Pipavav Haldia ✓ Railways ▪ Railways can be set up at all Mumbai ports except Mumbai Mangalore ✓ Road
Slide 31: 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 31
Slide 32: 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’ 32
Slide 33: Financial Performance
Financial Performance Solid Foundations 33
Slide 34: Consolidated Profitability Statement – Quarter/YTD
Consolidated Profitability Statement – Quarter/YTD Rs. In Cr. Q4 FY20 Q4 FY19 Y-o-Y % FY20 FY19 Y-o-Y % Revenue 1,242 1,853 -33% 7,183 5,616 28% Cost of Sales 1,049 1,690 6,472 5,038 Others 35 44 148 166 Normalized EBITDA (Segment) * 158 118 34% 563 412 37% Finance, Hedging & Forex related 1 4 11 19
Slide 35: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. In Cr.) Mar-20 Mar-19 EQUITIES AND LIABILITIES (Rs. In Cr.) Mar-20 Mar-19 Non Current Assets Equity Property, Plant and Equipment 1,697 1,327 Equity Share Capital 34 33 Other Equity 1,621 1,358 Capital Work in Progress 220 121 Equity Attributable to owners 1,65
Slide 36: Consolidated Cashflow Statement
Consolidated Cashflow Statement In Rs. Crs Full Year ended 31-Mar-20 Full Year ended 31-Mar-19 Profit before tax 208 302 Operating Profit Before Working Capital Changes 523 374 Net cash inflow from operating activities (A) 146 556 Net cash inflow/(outflow) from investing activities (B) -151 -155 Net
Slide 37: Dividend Track Record
Dividend Track Record Dividend Payout 32% 35% 44% 34% 24% 32% 34% 25% 22% 45% Rs. In Cr. Dividend Paid Net Profit 252 198 134 113 120 103 61 56 61 47 50 34 36 41 22 21 25 15 8 15 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 Interim Dividend for FY20 is 50% (i.e. Rs. 0.50 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