Aegis Logistics Limited · NSE:AEGISLOG
Aegis Logistics — Investor Presentation (February 2018)
37 slides from Aegis Logistics's investor presentation, February 2018
Slide 1: Aegis Logistics Limited – Investor Presentation
Aegis Logistics Limited “Positioned for growth” Investor Presentation February 2018
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: Strong Performance
Strong Performance Revenue Normalized EBITDA* PAT +16% +20% +34% 1,443 84 56 1,248 70 42 Q3FY17 Q3FY18 Q3FY17 Q3FY18 Q3FY17 Q3FY18 Revenue Normalized EBITDA* PAT +33% +26% +58% 3,543 228 159 2,665 180 101 9MFY17 9MFY18 9MFY17 9MFY18 9MFY17 9MFY18 * Normalized EBITDA – Before Forex, Hedging Related E
Slide 4: 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 9MFY18 EBITDA – Auto Gas Retailing and Packed LPG Cylinders for Commercial segment Rs. 228 Cr – Industrial Gas Distribution Liquid – Mari
Slide 5: Gas Logistics
Gas Logistics 5
Slide 6: 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 7: 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 +207% CAGR 17% 21,537 11,026 14,331 10,456 4,484 7,016 2,883 853 2000-01 2005-06 2010-11 2016-17 2000-01 2005-06 2010-11 2016-17 Incremental Demand in LPG met through Imports •Source: PPA
Slide 8: Increasing LPG imports will require new Terminal Capacity
Tons Million 0 5 10 15 20 Metric 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) 11 2017-18 21 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25 2025-26 2026-
Slide 9: 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 10: 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 11: 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 12: 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 13: 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 14: 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 15: Our Gas Distribution Network
Our Gas Distribution Network B2C ▪ Auto Gas Retailing: Distribute LPG as Auto Fuel through Gas Station Network ▪ 108 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 16: 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 ~50 59 51 46 42 39 39 35 35 27 27 27 24 22 20 19 Q1FY15 Q2FY15 Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16 Q4FY16 Q1FY17 Q2FY17 Q3FY17 Q4FY17 Q
Slide 17: LPG Volume - Logistics
LPG Volume - Logistics ‘000 MT Average ~157 Average ~245 Average ~341 Average ~421 521 434 442 400 308 302 279 268 252 200 206 197 163 132 131 Q1FY15 Q2FY15 Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16 Q4FY16 Q1FY17 Q2FY17 Q3FY17 Q4FY17 Q1FY18 Q2FY18 Q3FY18 17
Slide 18: LPG Volume - Distribution
LPG Volume - Distribution ‘000 MT Average ~10 Average ~13 Average ~15 Average ~19 21 18 17 15 15 15 14 13 13 13 12 11 11 10 10 Q1FY15 Q2FY15 Q3FY15 Q4FY15 Q1FY16 Q2FY16 Q3FY16 Q4FY16 Q1FY17 Q2FY17 Q3FY17 Q4FY17 Q1FY18 Q2FY18 Q3FY18 18
Slide 19: Liquid Logistics
Liquid Logistics 19
Slide 20: 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 20
Slide 21: 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 7% 312.6 Chennai 272.0 Kochi 6% Mumbai 16% 9% JNPT 2% New Mangalore 10% FY09 FY10 FY11 FY12 FY13 FY14
Slide 22: 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 23: 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 ▪ Q1 FY18 - 19 Maps not to scale. All data, information, and maps are provided "as is" withou
Slide 24: Liquid Capacity Post Expansion
Liquid Capacity Post Expansion 01 Mumbai Built up of Capacities (‘000s KL) ✓ Existing – 273,000 KL 689 02 Kochi Existing 25 ✓ Existing – 51,000 KL Expansion 100 03 Haldia 120 ✓ Expansion – 35,000 KL 120 ✓ Existing – 85,190 KL 85 04 Pipavav 35 ✓ Existing – 120,120 KL 273 51 05 Kandla ✓ Expansion – 10
Slide 25: Liquid Division Performance
Liquid Division Performance Revenue (Rs. In Cr.) Normalized EBITDA (Rs. In Cr.) +9% +19% 114 124 79 66 9MFY17 9MFY18 9MFY17 9MFY18 171 97 102 153 154 91 131 84 2013-14 2014-15 2015-16 2016-17 2013-14 2014-15 2015-16 2016-17 25
Slide 26: 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 26
Slide 27: 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 108 Autogas stations in 7 states ▪ Coat
Slide 28: 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 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 29: 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’ 29
Slide 30: 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 30
Slide 31: Financial Performance
Financial Performance Solid Foundations 31
Slide 32: Consolidated Profitability Statement [IndAS]
Consolidated Profitability Statement [IndAS] Rs. In Cr. Q3 FY18 Q3 FY17 Y-o-Y % 9MFY18 9MFY17 Y-o-Y % Revenue 1,443 1,248 16% 3,543 2,665 33% Cost of Sales 1,326 1,150 3,223 2,395 Others 33 28 92 90 Normalized EBITDA (Segment) * 84 70 20% 228 180 26% Finance, Hedging & Forex related 5 4 12 12 Expens
Slide 33: Consolidated Balance Sheet [IndAS]
Consolidated Balance Sheet [IndAS] Rs. In Cr. Sep-17 Rs. In Cr. Sep-17 ASSETS Equity Non Current Assets 1. Equity Share Capital 33 1. Fixed Assets 947 2. Other Equity 887 2. WIP 352 3. Non Controlling Interest 30 3. Other Intangible Assets 1 Total Equity 951 4. Goodwill 1 5. Financial Assets Non Cur
Slide 34: Annual Consolidated Profitability Statement [IGAAP]
Annual Consolidated Profitability Statement [IGAAP] Rs. In Cr. FY17 FY16 Y-o-Y % Revenue 3,938 2,213 78% Cost of Sales 3,567 1,874 Others 125 114 Normalized EBITDA (Segment) * 246 225 9% Finance, Hedging & Forex related Expenses (Net) 18 16 Depreciation 23 22 Unallocated Expenses 33 34 Profit Before
Slide 35: Consolidated Balance Sheet [IGAAP]
Consolidated Balance Sheet [IGAAP] Rs. In Cr. Mar-17 Mar-16 Rs. In Cr. Mar-17 Mar-16 Shareholder’s Fund 602 504 Non-Current Assets 899 651 Share Capital 33 33 Fixed Assets * 784 545 Reserves & Surplus 569 471 Non-Current Investments - - Minority Interest 29 39 Other Non-Current Assets 115 106 Non-Cu
Slide 36: Profit & Dividend Track Record
Profit & Dividend Track Record Dividend 32% 35% 44% 34% 24% 32% 34% Payout Rs. In Cr. Dividend Paid Net Profit 120 113 103 61 47 41 34 36 22 25 21 15 15 8 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 Company has declared an Interim Dividend of Rs. 0.50 per share 36
Slide 37: 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 [email protected] [email protected] / ji
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