Aegis Logistics Limited · NSE:AEGISLOG
Aegis Logistics — Investor Presentation (February 2017)
40 slides from Aegis Logistics's investor presentation, February 2017
Slide 1: Aegis Logistics Limited – Positioned for growth
Aegis Logistics Limited “Positioned for growth” Investor Presentation February 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: Sustainable Performance to continue...
Sustainable Performance to continue... In line with our plans for expansion in LPG Business, we are pleased to announce the Brownfield expansion of 10,200 MT at our LPG Terminal in Pipavav. Post the ongoing expansions, the total throughput capacity of LPG Division will increase to ~5 million MT. We
Slide 4: ...with another Strong Quarter
...with another Strong Quarter Normalized Revenue PAT EBITDA* Rs. 1,248 crs Rs. 70 crs Rs. 42 crs +136% +30% +27% +136% +30% +27% 1,248 70 42 54 33 529 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 * Normalized EBITDA – Before Forex, Hedging Related Expenses 4
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 9M FY17 EBITDA – Auto Gas Retailing and Packed LPG Cylinders for Commercial segment Rs. 182 Cr – Industrial Gas Distribution Liquid – Mar
Slide 6: Mission / 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 Accrual Project Completion Date Project Status: Q1 FY17-18 Intake Pumps – Under Progres
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 Accrual Throughput volumes for LPG handled in Pipavav Project Completion Date expected to grow Q
Slide 17: Our Gas Distribution Network
Our Gas Distribution Network B2C Auto Gas Retailing: Distribute LPG as Auto Fuel through Gas Station Network 105 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 ~24 Average ~35 Average ~40 46 42 35 35 +68% 27 27 27 19 Q4 FY15 Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 Q3 FY17 * Normalized EBITDA – Before Forex, Hedging Relat
Slide 19: LPG Volume - Logistics
LPG Volume - Logistics ‘000 MT Average ~178 Average ~281 Average ~327 417 +64% 308 279 255 238 197 206 131 Q4 FY15 Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 Q3 FY17 19
Slide 20: LPG Volume - Distribution
LPG Volume - Distribution ‘000 MT Average ~12 Average ~13 Average ~15 15 15 14 13 +18% 13 13 12 11 Q4 FY15 Q1 FY16 Q2 FY16 Q3 FY16 Q4 FY16 Q1 FY17 Q2 FY17 Q3 FY17 20
Slide 21: Growth Drivers
Growth Drivers • Throughput volumes for LPG handled in Pipavav and Mumbai Terminals expected to grow 30-40% on YoY basis through existing and new customer relationships • Commissioning of second chemical berth in Mumbai Port which will result in additional port handling capacity of 2.5 mn MT per yea
Slide 22: Liquid Logistics
Liquid Logistics 22
Slide 23: 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 23
Slide 24: 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 25: 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 26: 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 Q4 FY16 - 17 Maps not to scale. All data, information, and maps are provided "as is" without warranty or
Slide 27: 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 28: Liquid Division Performance
Liquid Division Performance Revenue (Rs. In Cr.) Normalized EBITDA (Rs. In Cr.) 171 102 97 153 84 82 131 133 114 66 2013-14 2014-15 2015-16 9M FY16 9M FY17 2013-14 2014-15 2015-16 9M FY16 9M FY17 28
Slide 29: 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 29
Slide 30: 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 105 Autogas stations in 7 states Coat
Slide 31: 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 32: 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’ 32
Slide 33: 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 33
Slide 34: Financial Performance
Financial Performance Solid Foundations 34
Slide 35: Consolidated Profitability Statement
Consolidated Profitability Statement Rs. In Cr. Q3 FY17 Q3 FY16 Y-o-Y % 9M FY17 9M FY16 Y-o-Y % FY16 Revenue 1,248 529 136% 2,665 1,776 50% 2,213 Cost of Sales 1,150 446 2,395 1,529 1,874 Others 28 29 90 84 114 Normalized EBITDA (Segment) * 70 54 30% 180 163 10% 225 Finance, Hedging & Forex related
Slide 36: Consolidated Balance Sheet
Consolidated Balance Sheet Rs. In Cr. Sep-16 Mar-16 Rs. In Cr. Sep-16 Mar-16 Shareholder’s Fund 561 504 Non-Current Assets 708 651 Share Capital 33 33 Fixed Assets * 600 545 Reserves & Surplus 528 471 Non-Current Investments 0 0 Minority Interest 27 39 Other Non-Current Assets 108 106 Non-Current Li
Slide 37: Annual Consolidated Profitability Statement
Annual Consolidated Profitability Statement Rs. In Cr. FY16 FY15 Y-o-Y % Revenue 2,213 3,916 -43% Cost of Sales 1,874 3,635 Others 114 99 Normalized EBITDA (Segment) * 225 182 24% Finance, Hedging & Forex related Expenses (Net) 16 19 Depreciation 22 22 Unallocated Expenses 34 30 Profit Before Tax 15
Slide 38: Consolidated Balance Sheet
Consolidated Balance Sheet Rs. In Cr. Mar-16 Mar-15 Rs. In Cr. Mar-16 Mar-15 Shareholder’s Fund 504 427 Non-Current Assets 651 558 Share Capital 33 33 Fixed Assets * 545 488 Reserves & Surplus 471 394 Non-Current Investments 0 3 Minority Interest 39 26 Other Non-Current Assets 106 67 Non-Current Lia
Slide 39: Profit & Dividend Track Record
Profit & Dividend Track Record Dividend 32% 35% 44% 34% 24% 32% Payout Rs. In Cr. 113 Dividend Paid Net Profit 103 61 47 34 36 22 25 21 15 15 8 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 First Interim Dividend of Rs. 0.35 per share declared on 7th Nov’ 16 Second Interim Dividend of Rs. 0.35 per
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
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