Aegis Vopak Terminals Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹24,481 Cr
- P/E
- 90.39
- ROE
- 11.02%
- PEG
- 0.07
- Price to sales
- 27.08
- Debt to equity
- 0.87
- 52W high / low
- ₹318 / ₹162
- EBITDA margin
- 74.60%
- Net profit margin
- 37.05%
- Promoter holding
- 86.94%
- Sales (last year)
- ₹904 Cr
Incorporated in 2013, Aegis Vopak Terminals owns and operates storage terminals for liquefied petroleum gas (LPG) and various liquid products.[1]
Guidance scorecard · Q2 FY27 call
What Aegis Vopak Terminals Ltd's management guided
and where it ranks in Oil
RevenueQ4 FY26 call
20–40%- Expecting 30% to 40% year-on-year growth in throughput volume for the current year (FY27).
- Revenue from operations grew 17% YoY to INR 923.1 crores in FY26, with liquid terminaling up 27.8% and gas terminaling up 8.6%.
- Operating EBITDA increased 19.4% and net profit by 52.1% in FY26, reflecting improved operating leverage.
- Expansion projects like the JNPT liquid capacity (318,000 CBM) to be commissioned mostly by H1 FY27, enhancing revenue.
- LPG terminal throughput and efficiency expected to grow with new jetty and multi-modal evacuation pipelines (e.g., Kandla-Gorakhpur, Jamnagar-Loni).
2 more points from Aegis Vopak Terminals Ltd's call on revenue
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MarginsQ4 FY26 call
FlatSee what Aegis Vopak Terminals Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- Planned capex pipeline of approximately USD 5 billion by 2030, aligned with traditional energy and emerging energy transition value chains.
- Capex expected to increase pace over next few years, with around USD 1.2 billion spent by end of next year (FY27).
- Expansion includes adding liquid storage, LPG capacity, and new terminals across multiple ports (JNPT, Pipavav, Mangalore, Kochi, Kandla, Haldia).
- New projects: Independent ammonia terminal at Pipavav with 15-year take-or-pay agreement; cryogenic LPG terminals commissioned at Mangalore and Pipavav.
- Memorandum of Understanding signed with Larsen & Toubro for ammonia terminal joint development at Kandla.
- Plans for strategic storage, industrial terminals, and expansion into ethane, propylene, and natural gas infrastructure.
2 more points from Aegis Vopak Terminals Ltd's call on capex
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FundraisingQ4 FY26 call
PlannedSee what Aegis Vopak Terminals Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
- A planned capex pipeline of approximately USD 5 billion by 2030, reflecting robust investment commitments.
- Expansion projects underway, such as the JNPT liquid storage expansion (318,100 CBM) and LPG capacity additions.
- Commissioning of the largest cryogenic third-party ammonia terminal expected soon, signaling new business lines.
- Long-term contract secured with Hindustan Zinc for one-third capacity of ammonia terminal for 15 years.
- Expansion from 7 to 12 ports by 2030, indicating broadening operational footprint.
2 more points from Aegis Vopak Terminals Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Oil
on management's own guidance
- Deep IndustriesGood growth2
- Asian EnergyGood growth1
- Ganesh Benzopl.Good growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Oil companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | Asian Energy | 20–40% | Up 2%+ | ₹2,233 Cr | 34.6 |
| 2 | Deep Industries | 20–40% | Up 0–2% | ₹4,822 Cr | 11.6 |
| 3 | Ganesh Benzopl. | 20–40% | Flat | ₹672 Cr | 10.3 |
| 4 | 10–20% | Flat | ₹2.79L Cr | 6.4 | |
| 5 | 10–20% | Flat | ₹72,385 Cr | 8.7 | |
| 6 | 10–20% | Flat | ₹12,103 Cr | 56.3 |
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Pro shows every company guiding 40%+ revenue growth →Full Oil rankingFinancials of Aegis Vopak Terminals Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Aegis Vopak Terminals Ltd
Shareholding breakup across reporting periods.
| Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|
| Promoters + | 86.94% | 86.94% | 86.94% | 86.94% | 86.94% | 86.94% |
| FIIs + | 5.87% | 6.07% | 6.03% | 5.89% | 5.35% | 5.09% |
| DIIs + | 5.29% | 5.03% | 4.98% | 4.89% | 5.30% | 5.27% |
| Public + | 1.90% | 1.95% | 2.06% | 2.28% | 2.41% | 2.72% |
| No. of Shareholders | 57,139 | 48,323 | 47,170 | 48,956 | 50,411 | 61,799 |
Pros & Cons
Aegis Vopak Terminals Ltd
Key positives and risks surfaced from the company insights section.
- Stock is trading at 5.77 times its book value
- Company has a low return on equity of 12.0% over last 3 years.
- Company might be capitalizing the interest cost
- Stock is trading at 5.77 times its book value
- Company has a low return on equity of 12.0% over last 3 years.
- Company might be capitalizing the interest cost
Financials of Aegis Vopak Terminals Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 154 | 149 | 162 | 199 | 208 | 232 | 239 | 243 | 234 | 271 |
| Expenses + | 41 | 39 | 43 | 55 | 53 | 59 | 61 | 64 | 54 | 58 |
| Operating Profit | 114 | 109 | 119 | 144 | 155 | 173 | 179 | 179 | 179 | 212 |
| OPM % | 74% | 74% | 73% | 72% | 75% | 75% | 75% | 74% | 77% | 78% |
| Other Income + | 2 | 2 | 8 | 16 | 11 | 17 | 4 | 4 | 4 | 6 |
| Interest | 48 | 47 | 50 | 48 | 30 | 19 | 20 | 41 | 39 | 40 |
| Depreciation | 31 | 32 | 32 | 37 | 42 | 55 | 56 | 55 | 55 | 58 |
| Profit before tax | 37 | 32 | 45 | 75 | 95 | 117 | 107 | 87 | 89 | 120 |
| Tax % | 29% | 31% | 16% | 15% | 17% | 15% | 17% | 15% | 22% | 19% |
| Net Profit + | 26 | 22 | 38 | 64 | 79 | 100 | 89 | 74 | 69 | 96 |
| EPS in Rs | 0.27 | 0.23 | 0.38 | 0.59 | 0.64 | 0.80 | 0.74 | 0.62 | 0.60 | 0.78 |
Financials of Aegis Vopak Terminals Ltd
Profit & Loss
Annual income statement trend
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| Sales + | -0 | 353 | 562 | 789 | 923 | 987 |
| Expenses + | 1 | 124 | 164 | 214 | 237 | 238 |
| Operating Profit | -1 | 229 | 398 | 575 | 687 | 750 |
| OPM % | 65% | 71% | 73% | 74% | 76% | |
| Other Income + | -0 | 3 | 8 | 32 | 37 | 19 |
| Interest | 1 | 138 | 171 | 193 | 110 | 141 |
| Depreciation | -0 | 91 | 114 | 148 | 208 | 225 |
| Profit before tax | -1 | 3 | 121 | 265 | 406 | 403 |
| Tax % | -0% | 103% | 28% | 15% | 16% | |
| Net Profit + | -1 | -0 | 87 | 225 | 342 | 329 |
| EPS in Rs | -0.02 | -0.00 | 1.00 | 2.03 | 2.80 | 2.74 |
| Dividend Payout % | -0% | -0% | 38% | -0% | 71% |
Financials of Aegis Vopak Terminals Ltd
Balance Sheet
Capital structure and asset base
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.51 | 1 | 1 | 989 | 1,108 | 1,108 |
| Reserves | 1 | 952 | 996 | 354 | 3,183 | 3,344 |
| Borrowings + | 98 | 2,374 | 3,273 | 4,018 | 3,731 | 4,121 |
| Other Liabilities + | 2 | 152 | 253 | 1,387 | 400 | 547 |
| Total Liabilities | 103 | 3,479 | 4,523 | 6,747 | 8,421 | 9,119 |
| Fixed Assets + | 20 | 3,030 | 3,491 | 5,046 | 6,650 | 7,104 |
| CWIP | 8 | 152 | 53 | 167 | 210 | 319 |
| Investments | -0 | -0 | -0 | -0 | -0 | -0 |
| Other Assets + | 75 | 297 | 980 | 1,534 | 1,560 | 1,696 |
| Total Assets | 103 | 3,479 | 4,523 | 6,747 | 8,421 | 9,119 |
Financials of Aegis Vopak Terminals Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from Operating Activity + | 0 | 172 | 337 | 576 | 702 |
| Cash from Investing Activity + | -92 | -1,786 | -857 | -381 | -3,077 |
| Cash from Financing Activity + | 99 | 1,629 | 603 | 385 | 1,956 |
| Net Cash Flow | 7 | 16 | 83 | 581 | -419 |
| Free Cash Flow | -64 | -6 | -325 | 441 | 3 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -88% | 77% | 87% | 108% | 106% |
Financials of Aegis Vopak Terminals Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 72 | 85 | 55 | 74 | |
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 72 | 85 | 55 | 74 | |
| Working Capital Days | 29 | 31 | -502 | -618 | |
| ROCE % | 8% | 8% | 9% | 8% |
Guidance history
How Aegis Vopak Terminals Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 20–40% | Flat | Planned | Planned | — |
| Q3 FY26 call → | 20–40% | Flat | Planned | Planned | — |
| Q2 FY26 call → | 20–40% | Flat | Planned | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
24 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −19.4% | 38% |
| Last 6 months | +16.5% | 74% |
| Last 3 months | −23.9% | 13% |
The price is 30.6% below its all-time high of ₹318.3 (21 Sept 2026). Stocks more than 20% below their peak have their score halved, so 47 became 24.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Aegis Vopak Terminals Ltd: 0.4 × 38 + 0.4 × 74 + 0.2 × 13 = 47, halved to 24 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Aegis Vopak Terminals Ltd's management said in earlier quarters
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