Aegis Logistics Ltd. — Annual Report 2019

May 28, 2019

Corporate Office: 1202, Tower B, Peninsula Business Park, G. K. Marg, Lower Pare! CW), Mumbai - 400 013, India. Tel.: +91 22 6666 3666 t Fax: +91 22 6666 3777 t Email: aegis@aegisindia.com t Website: www.aegisindia.com

May 28, 2019

To, The Secretary, Market Operations Department, The BSE Ltd. Phiroze Jeejeebhoy Towers, Dalal Street, Fort, MUMBAI - 400 023.

Scrip Code : 500003

Capital Market Operations The National Stock Exchange of India Ltd. Exchange Plaza, 5th Fl., Plot No.C/ 1, G Block, Bandra-Kurla Complex, Bandra (E), MUMBAI - 400 051.

Scrip Code : AEGISCHEM

Dear Sir,

Sub: Outcome of Board Meeting

Pursuant to regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we have to inform you that the Board of Directors of the Company at their meeting held today i.e. May 28, 2019, have considered and approved inter-alia :

1. Approved Audited Financial Results (Standalone & Consolidated) for the financial year ended March 31, 2019. A copy of the same along with the Auditor's Report thereon is enclosed for your records.

It is hereby declared that the Statutory Auditors of the Company i.e. M/ s. CNK and Associates LLP, Chartered Accountants (with Firm Regn. No.101961W/W-100036), has issued Audit Reports with unmodified opinion(s) in respect of the Standalone and Consolidated financial statements of the Company for the year ended March 31, 2019.

• 1. Approved Audited Annual Accounts (Standalone & Consolidated) for the financial year ended March 31, 2019;
• 1. Recommended Final dividend@ 90 % i.e. Re. 0.90 per share (face value of Re. l each) for the financial year ended March 31, 2019, subject to approval of members at the Annual General Meeting.

The Meeting of the Board of Directors of the Company commenced at 3.45 p.m. and concluded at 6.15 p.m.

Kindly take the same on record.

Thanking you.

Yours faithfully, For AEGIS LOGISTICS LIMITED

MO A GANDHI COM ANY SECRETARY

Cffi%o. <t..%01956PLC001032

Registered Office: 502, 5th Floor, Skylon, G.I.D.C., Char Rasta, Vapi - 396 195, Dist. Valsad, Gujarat, India.

CN 1( & Associates LLP

Chartered Accountants

Na 1 rain Chambers, 5th Floor, M. G. Road, Vile Parle (E), Mumbai_ 400 057. Te.: +91-22-62507600

Mistry Bhavan, 3rd Floor, Dinshaw Vachha Road, Churchgate Mu nb · _ 400 020 Tel.: +91-22-6623 0600 ' 1

INDEPENDENT AUDITOR'S REPORT

To the Board of Directors of AEGIS LOGISTICS LIMITED

• 1. We have audited the accompanying statement of Standalone Ind AS Financial Results ('the Statement') (Refer Annexure I which have been initialed by us for identification purpose) of Aegis Logistics Limited ('the Company') for the quarter and year ended March 31, 2019, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Circular No. CIR/CFD/CMD/15/2015 dated November 30, 2015 as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016. The Statement approved by the Board of Directors of the Company is the responsibility of the Company's Management and has been prepared from the Standalone Ind AS Financial Statements ('Financial Statements'). Attention is drawn to the fact that the figures for the quarter ended 31st March 2019 and the corresponding quarter ended 31st March 2018 as reported in the Statement are the balancing figures between the audited figures for the respective full financial years and the published year to date figures up to the end of the third quarter of the relevant financial year, which have only been reviewed and were not subjected to audit.
  • 1. The Financial Statements have been prepared in accordance with the Indian Accounting Standards (' Ind AS') prescribed under section 133 of Companies Act, 2013, read with the relevant rules issued thereunder and other accounting principles generally accepted in India.
  • 1. The Statement, prepared on the basis of the financial Statements and reviewed quarterly financial results up to the quarter ended 31st December 2018, is the responsibility of the Company's management. Our responsibility is to express an opinion on the Statement, which is based on our audit of such Financial Statements.
  • 1. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit includes examining on test basis evidence supporting the amounts disclosed in the Statement. An audit also includes assessing the accounting principles usejl and significant estimates made by management. ~f -

, ~s- ~ believe that our audit provides a reasonable basis for our opinion.

~ \ ;' Iva~,:

·cJ ~). .,

• 1. In our opinion and to the best of our information and according to the explanations given to us, the said Statement for the quarter and year ended March 31, 2019:
  • (a) is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Circular No. CIR/CFD/CMD/15/2015 dated November 30, 2015 as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016 in this regard; and
  • (b) Gives a true and fair view of the financial performance including Other Comprehensive Income and other financial information for the quarter and the year ended March 31, 2019.

Place: Mumbai

Chartered Accountants Firm Regn. No. 101961W/W-100036 ~~~ D.P. Sapre Partner Membership No. 40740

For CNK and Associates LLP

Date: May 28, 2019

STANDALONE STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH

2019

						(Rs.in Lakhs except per share data)
		Quarter ended			Year ended
	Particulars	31.03.2019	31.12.2018	31.03.2018	31.03.2019	31.03.2018
		Unaudited	Unaudited	Unaudited	Audited	Audited
1	Revenue from operations	'16,635
2	Other income	126	21,796	15,1731,206	70,706	50,176
3	TOTAL INCOME (1+2)	16,761	7921,875	16,379	2,03072,736	2,76852,944
4	EXPENSES	Ii1,
	Purchases of stock-in-trade	[;<8,306	13,431	6,584	40,693	26,593
	Changes in Inventories of finished goods, work in process andstock in trade	•.;,
	Employee benefits expenses	604	(362)	2,417	(899)	(180)
	Finance costs	1,189504	1,015	1,341	4,180	3,893
	Depreciation and amortisation expense	I~661	466651	196717	2,1352,5161	743
	Other expenses	3,126	2,876	2,587	11,416:	1,7849,196
	TOTAL EXPENSES	lo14,390.	18,077	13,842	60,041.,	42,029
5	Profit before tax (3-4)	-2,371'	3,798	2,537	12,695	10,915
6	Tax expenses	'I>
	Current Tax	530	995	276	2,922	2,500
	Tax adjustment in respect of earlier years	310	(390)	(169)	(80)	(169)
	Deferred Tax	1,318	224	148	991	(1,508)
	Total Tax expenses	1,158	829	255	3,833	823
7	Profit for the period (5-6)	1,213	2,969	2,282	8,862	10,092
8	Other Comprehensive Income (Net of Taxes)	35	(14)	(34)	(7)	(53)
9	TOTAL COMPREHENSIVE INCOME FOR THE PERIOD (7+8)	1,248	2,955	2,248	8,855	10,039
10	Paid up Equity Share Capital (face value Re.1 per share)Other Equity	3,340	3,340	3,340	3,340	3,340
11	Earnings per equity share (Face value of Re. 1 each)	Ii			'
	Basic (in Rs)	0.37,i~	0.88	0.68	2.65	3.02
	Diluted (in Rs)	0.37~)i	0.88	0.68	2.65	3.02
	12 Paid up Debt Capital •				9,380	6,107
13	Reserves Excluding Revaluation Reserves as per Balance Sheetof previous accounting year				It77,685
	14 Debenture Redemption Reserve (also included in 13 above)			I,	625	· 73,533625
	15 Net worth	I			81,026!	76,873
	16 Debt Equity Ratio (no. of times)••	\ii		j	o.o5'	0.06
	17 Debt Service Coverage ratio (DSCR)(no.of times) •••	r		'	3.86'	10.36
	18 Interest Service Coverage ratio (ISCR)(no.of times) ••••	,J·			.5{{-6.95	15.69

• Paid - up Debt Capital = Long-term Debts plus Current maturities of Long-term debts

!.

STANDALONE STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31StMARCH 2019

PARTICULARS		Quarter ended		Year ended
	31.03.2019	31.12.2018	31.03.2018	31.03.2019	31.03.2018
	Unaudited	Unaudited	Unaudited	Audited	Audited
Segment Revenue
Liquid Terminal Division
Gas Terminal Division	3,765	3,644	2,876	13,890	11,078
	12,984	18,152	12,297	56,930	39,098
Net Sales / Income from Operations	16,749	21,796	15,173	70,820	50,176
Segment Results
Liquid Terminal Division	1,611	1,304	698	4,973	4,458
Gas Terminal Division	2,531	3,919	2,324	12,150	8,583
sub-total	4,142	5,223	3,022	17,123	13,041
Less: Finance Cost	504	466	196	2,135	743
Other un-allocable expenditure (net)	1,341	1,030	201	2,521	1,774
Add: Interest Income	74	71	(87)	228	391
Total Profit Before Tax	2,371	3,798	2,537	12,695	10,915
Segment Assets
Liquid Terminal Division	93,308	94,863	82,749	93,308	82,749
Gas Terminal Division	12,622	15,876	13,808	12,622	13,808
Unallocable	19,591	20,010	29,245	19,591	29,245
Total	1,25,521	1,30,749	1,25,802	1,25,521	1,25,802
Segment Liabilities
Liquid Terminal Division	6,977	7,874	15,170	6,977	15,170
Gas Terminal Division	3,318	5,363	3,948	3,318	3,948
Unallocable	12,922	11,584	2,732	12,922	2,732
Total	23,217	24,821	21,850	23,217	21,850
Capital employed
Liquid Terminal Division	86,331	86,989	67,579	86,331	67,579
Gas Terminal Division	9,304	10,513	9,860	9,304	9,860
Unallocable	6,669	8,426	26,513	6,669	26,513
TotalSOC/A	1,02,304	1,05,928	1,03,952	1,02,304	1,03,952

MAMBA

	Statement of Assets and Liabilities
	Particulars
A	ASSETS
1	Non-current assets
(a)(b)	Property, plant and equipmentCapital work-in-progress	78,964	74385
	(c) Other intangible assets	.12,349.	13168
(d)	Financial assets	97,,	125
	- Investments in subsidiaries
	- Other investments		4038
	- Loans		249
	- Other financial assets		580
	Current tax assets (net)		1609
	(e) Other non-current assets		5254
	Sub-total - Non-Current Assets		99210
2	Current assets
	(a) Inventories(b) Financial assets .	2,733	1799
	- Investments
	- Trade receivables	134,028,
	- Cash and cash equivalents	331	39501082
	- Other Bank balances	4,186	2444
	- Loans	739	4320
	- Other financial assets	3,717	7855
(c)	Other current assets	·5,3~5	5141
	Sub-total - Current Assets	21,072	26591
	TOTAL -ASSETS		125801
B	EQUITY AND LIABILITIES
1	Equity
(a)	Equity Share capital		3340
(b)	Other equity		73533
	Sub-total - Equity		76873
2	LIABILITIES
	Non-current liabilities
(a)	Financial liabilities
	- Borrowings		4883
	- Other financial liabilities		358
	Other non-current liabilities		192
(b)	Provisions		920
	Sub-total - Non-current liabilities		6353
3	Current liabilities
	(a) Financial liabilities
	- Borrowings		21205
	- Trade payables		3387
	- Other financial liabilities		8679
(b)	Deferred tax liabilities (net)		7036
(c)	ProvisionsCurrent tax liabilities (Net)		255
	(d) Other current liabilities		02013
	Sub-total - Current liabilities		42575
			125801

AEGIS LOGISTICS LIMITED
		STANDALONE STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2019
	NOTES:
	held on 28th May, 2019.	The above Standalone Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors at the meeting
2	end.	Other Expenditure includes the provision of Commission Rs.317 lakhs and Rs 1000 lakhs for the quarter and year ended 31st March, 2019respectively to the Managing Directors which is dependent upon the net profit determinable u/s 198 of the Companies Act, 2013 at the year
3	The 10.20% non-convertible redeemable prtvately placed debentures aggregating Rs.1,669 lacs as on 31st March, 2019 are secured by wayof mortgage of specific immovable properties of the Company situated at Trombay on part passu basis.The asset cover is more than the prtncipal amount of these debentures and credit agencies viz. 'India Ratings and Research' and 'CARE ratings'
	have assigned 'Ind AA/ Stable' (new) and 'CARE AA (Double A)' ratings respectively.
		Interest of Rs. 255 lakhs was paid on 25th May 2018, the previous due date and the principal of Rs 830 Lacs was paid on 25th May 2018.Thenext due date for repayment of prtncipal of Rs. 830 lakhs is 25th May, 2019 and interest payment of Rs.170 lacs is 25th May, 2019.
5		The Board of Directors of the Company has recommended a final dividend of RsC) <>4Q.er equity share for the year ended March 31, 2019(Previous Year Rs. 0.75 per equity sahre).The said dividend will be paid after the approval of shareholders at the Annual General Meeting.
6		Figures for the previous period/ year have been regrouped wherever necessary to correspond with the figures of the current period.
		:<br>;:£;
		Chairman & Managing Director
		· CHA1'1 D~f <i a<br="">RA-:f k

CN 1( & Associates LLP

Chartered Accountants

Narain Chambers, 5th Floor, M. G. Road, Vile Parle (E), Mumbai - 400 057. Tel.: +91-22-62507600

Mistry Bhavan, 3rd Floor, Dinshaw Vachha Road, Churchgate, Mumbai - 400 020. ra. +91-22-6623 0600

INDEPENDENT AUDITOR'S REPORT

To the Board of Directors of AEGIS LOGISTICS LIMITED

• 1. We have audited the accompanying statement of Consolidated Ind AS Financial Results ('the Statement') (Refer Annexure I which have been initialed by us for identification purpose) of Aegis Logistics Limited ('the Holding Company') and its subsidiaries (the Holding company together with the subsidiaries, are referred as "the Group") for the quarter and year ended March 31, 2019, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Circular No. CIR/CFD/CMD/15/2015 dated November 30, 2015 as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016. The Statement approved by the Board of Directors of the Holding Company is the responsibility of the Holding Company's Management and has been prepared from the Consolidated Financial Statement ('Financial Statements'). Attention is drawn to the fact that the figures for the quarter ended 31st March 2019 and the corresponding quarter ended 31st March 2018 as reported in the Statement are the balancing figures between the audited figures for the respective full financial years and the published year to date figures up to the end of the third quarter of the relevant financial year, which had only been reviewed and were not subjected to audit.
• 1. The Financial Statements are in accordance with the Indian Accounting Standards (' Ind AS') prescribed under section 133 of Companies Act, 2013, read with the relevant rules issued there under and other accounting principles generally accepted in India.
• 1. The Statement, prepared on the basis of the Financial Statements and reviewed quarterly financial results up to the quarter ended 31st December 2018, is the responsibility of the Holding Company's management. Our responsibility is to express an opinion on the Statement, which is based on our audit of such Financial Statements.
• 1. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit includes examining on test basis evidence supporting the amounts disclosed in the Statement. An audit also includes

5. Attention is drawn to the following:

We did not audit the Standalone Ind AS Financial Statements of two subsidiaries, whose financial statements reflect total assets of Rs. 34,857.88 Lakhs as at March 31, 2019, total revenue of Rs. 13,796.03 Lakhs and net cash outflow of Rs. 139.12 Lakhs for the year ended on that date, as considered in the Financial Statements. These Standalone Ind AS Financial Statements have been audited by other auditors whose reports have been furnished to us by the Management and our opinion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these entities in the Group, is based solely on the reports of their auditors.

• 1. In our opinion and to the best of our information and according to the explanations given to us, the said Statement of Consolidated Ind AS Financial Results for the quarter and year ended March 31, 2019:
  • (a) is presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Circular No. CIR/CFD/CMD/15/2015 dated November 30, 2015 as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016 in this regard; and
  • (b) Gives a true and fair view of the net consolidated financial performance including Other Comprehensive Income and other financial information for the quarter and the year ended March 31, 2019.

For C N Kand Associates LLP Chartered Accountants Firm Regn. No. 101961W/W-1,,,,00=

D.P. Sapre Partner Membership No. 40740

Place: Mumbai Date: May 28, 2019

	CONSOLIDATED STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2019(Rs.in Lakhs except per share data)
			Quarter ended			Year ended
	Particulars	31.03.201931.12.2018		31.03.2018	31.03.2019	31.03.2018
		Unaudited	Unaudited	Unaudited	Audlte!I	Audited
	Revenue from operations		1,32,046
2	Other income		124	1,25,192	5,61,582	4,79,096
3	TOTAL INCOME (1+2)		1,32,170	4001,25,592	8195,62,401	8354,79,931
4	EXPENSES
	Purchases of stock-in-trade
	Changes in Inventories of finished goods, work in process and		1,17,972	1,10,757	5,0l!,600	4,35,772
	stock in trade
	Employee benefits expenses	735	(329)	2,357	(803)	(320)
	Finance costs	1,'190	1,247	1,570	5,153	4,706
	Depreciation and amortisation expense	119!i 1,~08	513	357 -		1,523
	Other expenses		1,291	1,331		3,431
	TOTAL EXPENSES	4,413	3,897	3,524		12,338
		1,76,978	1,24,591	1,19,896		4,57,450
5	Profit before tax (3-4)	8,652	7,579	5,697		22,482
6	Tax expenses
	Current Tax	1·,930
	Tax adjustment in respect of earlier years	54'1	1,827	4,497		5,359
	Deferred Tax (Minimum Alternate Tax)	(846)	(392)	(169)		(169)
	Total Tax expenses	1,631	(377)1,058	(4,089)239		(4,089)1,101
	Profit for the year (5-6)
7	Attributable to :	7,1>21	6,521	5,458		21,381
	Owners of the company	6,HO	5,915	4,825		19,781
	Non Controlling Interest	851	606	633		1,600
8	Other Comprehensive Income (Net of Taxes)	39	(14)	(39)
	Attributable to :					(68)
	Owners of the company		(14)	(39)
	Non Controlling Interest				(9)	(68)
9	TOTAL COMPREHENSIVE INCOME FOR THE PERIOD (7+8)
			6,507	5,419		21,313
	Attributable to :
	Owners of the company		5,901	4,786		19,713
	Non Controlling Interest		606	633		1,600
10	Paid up Equity Share Capital (face value Re.1 per share)		3,340	3,340		3,340
11	Earnings per equity share (Face value of Re. 1 each)
	Basic (in Rs)		1.95	1.62
	Diluted (in Rs)		1.95	1.62		6.406.40
	12 Paid up Debt Capital •
	13 Reserves Excluding Revaluation Reserves as per Balance Sheet					8,356
	of previous accounting year
	14 Capital Redemption Reserve (also included in 13 above)					1,17,388
	15 Debenture Redemption Reserve (also included in 13 above)					5.422
	16 Net worth					1,S10
	17 Debt Equity Ratio (no. of times) -					1,27,698
	--18 Debt Service Coverage ratio (DSCR)(no.of times)					O.o?5.12
	19 Interest Service Coverage ratio (ISCR)(no.oftimes)					15.77

• Paid - up Debt Capital = Long-term Debts plus Current maturities of Long-term debts.

••Debt· Equity Ratio= Long-term Debts I (Equity+ Reserves)

-· DSCR = Earnings before Interest & Tax I (Interest Expense + Principal Repayment on Long Term Debts 1,198 lacs during the period)

• ISCR= Earnings before Interest & Tax I Interest Expense

CONSOLIDATED STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2019 $\ddot{\phantom{a}}$

PARTICULARS		Quarter ended			(Rs. in Lakhs)Year ended
	31.03.2019	31.12.2018	31.03.2018	31.03.2019	31.03.2018
	Unaudited	Unaudited	Unaudited	Audited	Audited
Segment Revenue
Liquid Terminal Division
Gas Terminal Division	4,842	4,605	4,450	18,438	16,828
Net Sales / Income from Operations	1,80,714	1,27,441	1,20,742	5,43,436	4,62,268
	1,85,556	1,32,046	1,25,192	5,61,874	4,79,096
Segment Results
Liquid Terminal Division
Gas Terminal Division	2,2658,302	1,810	1,705	7,833	8,480
		7,196	4,886	28,690	18,436
sub-total	10,567	9,006	6,591	36,523	26,916
Less: Finance Cost	719	513	357	2,619	1,523
Other un-allocable expenditure (net)	1,430	1,019	589	4,165	3,172
Add: Interest Income	234	105	51	494	260
Total Profit Before Tax
	8,652	7,579	5,697	30,233	22,482
Segment Assets
Liquid Terminal Division		1,13,394
Gas Terminal Division	1, 15, 3541,16,395	93,843	1,05,6601,10,103	1, 15, 3541,16,395	1,05,6601,10,103
Unallocable	11,119	8,543	5,630	11,119	5,630
Total	2,42,868	2,15,780	2,21,393	2,42,868	2,21,393
Segment Liabilities
Liquid Terminal Division	7,647	5,356	11,491	7,647	11,491
Gas Terminal Division	51,815	30,266	47,675	51,815	47,675
UnallocableTotal	12,922	11,874	4,126	12,922	4,126
	72,384	47,496	63,292	72,384	63,292
Capital employed
Liquid Terminal Division
Gas Terminal Division	1,07,70764,580	1,08,03863,577	94,16962,428	1,07,707	94,16962,428
Unallocable	(1, 803)	(3, 331)	1,504	64,580(1, 803)	1,504
Total	1,70,484	1,68,284	1,58,101	1,70,484	1,58,101
SSOCIA

WD≮ MUMB. ered Account

(Rs. in Lakhs) Particulars As at 31st March, 2018 1,27,984 12,559 125 129 1 2 899 1,530 8,972 6,495 1,58,695 3,380 2,600 1,043 22,852. 34,694 35,341 9,492 5,951 6,706 753, 961 6,516 8,245 62,698 2,21,393 ASSETS Non-current assets Property, plant and equipment Capital work-in-progress Goodwill Other intangible assets Financial assets - Other investments - Others Security Deposits Current tax assets (net) Other non-current assets Deffered tax asets (Net) Total - Non-Current Assets Current assets Inventories Financial assets '- Investments - Trade receivables - Cash and cash equivalents - Bank balances other than Cash and Cash equivalents above - Other financial assets Other current assets Total - Current Assets TOTAL - ASSETS EQUITY AND LIABILITIES Equity Equity Share capital Otherequi Non-controllin interest Total E ui LIABILITIES Non-current liabilities Financial liabilities - Borrowings - Other financial liabilities Other non-current liabilities Provisions Total - Non-current liabilities Current liabilities Financial liabilities - Borrowings - Trade payables Total outstanding dues of creditors other than micro enterprises and small enterprises - Other financial liabilities Audited 3,340 1,17,387 1,20,727 6,970 1,27,697 6,196 1,339 192 1,057 8,784 22,047 37,884 14,207 291 715 7,045 2,723 84,912 93,696 2,21,393

AEGIS LOGISTICS LIMITED Consolidated Statement of Assets and Liabilities as at 31st March,2019

CONSOLIDATED STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH 2019

NOTES:

• The above Consolidated Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors at the meeting held on 28th May, 2019.
• 2 The following Subsidiaries have been considered for the purpose of preparing Consolidated Financial Results as per Ind As 11 O on "Consolidated Financial Statements'.

Name of the Subsidiarv Comoanv	Ownershio Interest in %
Sea Lord Containers Limited	100.00%
Konkan Storage Systems (Kochi) Private Limited	100.00%
Eastern India LPG Co. (Private) Limited	100.00%
Aegis Group International Pie. Limited	60.00%
Aegis Gas l:PG Private Limited	100.00%
Hindustan Aegis LPG Limited	80.30%
Aegis International Marine Services Pie. Limited	100.00%
Aegis LPG Logistics (PIPAVAV) Limited	100.00%
Aegis Terminal (PIPAVAV) Limited	100.00%

3 The Company has opted to publish only Consolidated Financial Results. The Stand-alone Financial Results of the Company for the quarter and year ended 31st March, 2019 will be available on the websites of the Company viz. www.aegisindia.com, Bombay Stock Exchange Ltd. viz. www.bseindia.com and National Stock Exchange of India Ltd. viz. www.nseindia.com. Additional information on Stand-alone basis is as follows:

PARTICULARS		Quarter ended	Year ended
	31.03.2019	31.12.2018	31.03.2018	31.03.2019	31.03.2018Audited
	Unaudited	Unaudited	Unaudited	Audited
Net Sales/ Income from operations(including other operating income)	16,761	21,875	16,379	72,736	52,944
Profit before Tax	~2,371	3,798	2,537	• 12,695	10,915
Profit after Tax	1,213	2,969	2,282	" 8,862	10,092
Total Comprehensive Income	1;248	2,955	2,248	8,855	10,039

**4**Other Expenditure includes the provision of Commission Rs.317 lacs and Rs 1000 lacs for the quarter and year ended 31st March, 2019 respectively to the Managing Directors which is dependent upon the net profit determinable u/s 198 of the Companies Act, 2013 at the year end.

5 The 10.20% Non-Convertible Redeemable Privately Placed Debentures outstanding of Rs. 1,669 lakhs as on 31st March, 2019 are secured by way of mortgage of specific immovable properties of the Company situated at Trombay on pari passu basis. The asset cover is more than the principal amount of these debentures and credit agencies viz. 'India Ratings and Research' and 'CARE ratings' have assigned 'Ind AA/ Stable' (new) and 'CARE AA (Double A)' ratings respectively. Principal amount of Rs.830 lacs and interest amount of Rs.255 lacs was paid on 25/5/2018, on the previous due date. The next due date for repayment of principal of Rs. 830 lakhs is 25th May, 2019 and interest payment of Rs.170 lacs is 25th May, 2019.

6 The Board of Directors of the Company has recommended· a final dividend of Rs. O" g O per equity share for the year ended March 31 , 2019 (Previous Year Rs. 0.75 per equity share). The said dividend will be paid after the approval of shareholders at the Annual General Meeting.

7 Figures for the previous period / year have been regrouped wherever necessary to correspond with the figures of the current period.

For and on behalf of the Board

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Chairman & Managing Director R. ft~ <. • c__t-1 A:N J>A (2..1 A CDl ,._. -oo 03 '.:f- 518°