Aegis Logistics Ltd. — Interim / Quarterly Report 2019

Jan 31, 2019

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

January 31, 2019

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

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 : 500003

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. 31st January, 2019, have considered and approved inter-alia:

• 1. Unaudited Financial Results (Standalone & Consolidated) for the quarter and nine months ended 31st December, 2018 (IND-AS). Enclosed herewith Unaudited Financial Results (Standalone & Consolidated) alongwith Limited Review Report for your records.
• 1. Expansion at Kandla Port for setting up 40,000 KL of Liquid Storage Tanks and 45,000 MT of LPG Storage Terminal at a total capital outlay of Rs.375 crores.

The Meeting of the Board of Directors of the Company commenced at 3.30 p.m. and concluded at 6.35 p.m.

Kindly take the same on record.

Thanking you.

Yours faithfully, For AEGIS LOGISTICS LIMITED

Encl.: as above

CNI( &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. Tel.: +91-22-6623 0600

INDEPENDENT AUDITOR'S REVIEW REPORT

To the Board of Directors of Aegis Logistics Limited

• 1. We have reviewed the accompanying Statement of Unaudited Financial Results (the Statement') of Aegis Logistics Limited ('the Company') for the quarter and nine months ended 3] 51December 2018, being submitted by the Company pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016, read with Circular No. CIR/CFD/CMD/15/2015 dated November 30, 2015.
• 1. This Statement is the responsibility of the Company's Management and is subject to approval by the Board of Directors of the Company at their meeting to be held on 31st January 2019. This statement has been prepared on the basis of the related interim financial statements in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to issue a report on these financial statements based on our review.
• 1. We conducted our review in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants oflndia. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the statement is free from material misstatements. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly; we do not express an audit opinion.
• 1. Based on our review conducted as above, nothing has come to ouraftention that causes us to believe that the accompanying statement of unaudited financial results prepared in accordance with applicable principles laid down in Indian Accounting Standard 34 "Interim Financi~J 'Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the Securities and Exchange Board oflndia (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Circular No. CIR/CFD/CMD/15/2015 dated November 30, 2015 and as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016, including the manner in which it is to be disclosed or that it contains any material misstatement.

For C N K & Associates LLP Chartered Accountants Firm Registration No. 101961W/W-100036

4~~~

D.P. Sapre Partner Membership No.: 040740 Place: Mumbai Date: 31st January 2019

					(Rs.in Lakhs except per share data)
	Particulars
		30.09.2018Unaudited	31-12.2017Unaudited	31.12.2018ed:l;j	31.12.2017Unaudited	31.03.2018Audited
		18,682	13,435		35,003	50,176
	Revenue from operations		195		1,562	2.768
	Other income	1,737	13,630		36,565	52,944
	TOTAL INCOME (1+2)	20,419
	!:XPENSES		9,468		20,009	26.593
	Purchases of stock-in-trade	10,716
	Chaoges in Inventories cf finished goods. work in process					(180)
	and stock in trade	(94)	(2.148)		(2,597)	3,893
	Employee benefits expenses	1,205	B:i6		2,552
	Finance costs	647	211		547	743
	Depreciation and amortisation expense	614	364		1.067	1.784
		3,186	2,456		6,609	9,196
	Other expensesTOTAL EXPENSES	16,274	11,187		28,187	42,029
	Profit before tax (3-4)	4,145	2,443		8,378	10,915
	Tax expenses		765		2,224	2,500
	Current Tax	831				(169)
	Tax adjustment in respect of earlier years				(1,656)	(1,508)
	Deferred Tax	298	(657)108		568
	Total Tax expenses	1,129
7	Pron! for the period I year (5-S)	3,016	2,335		7,810	10,092
	Other Comprehensive Income (Net of Taxes)	(14)			(19)
		3,002			7,791	10,039
9	TOTAL COMPREHENSIVE INCOME FOR THE PERIOD (
10	Paid up Equity Sl1are Capital (face value Re.1 per share	3,340	3,340		3,340	3,340
11	Earnings per equity share (Face·value of Re. 1 each)
		0.90	0.70		2.34
	Basic (in Rs)Diluted (in Rs)	0.90	0.70		2.34

See accompanying notes to the Onancial results

i

.AEGIS LOGISTICS LIMITED

			(Rs. in Lakhs)
PARTICULARS	Quarter ended		Nine months ended		Year ended
		31.12.2017			31.03.2018
		Unaudited		Unaudited	Audited
Segment Revenue
Liquid Terminal Division	3,273	2,663		8,202	11,078
Gas Terminal Division	15,409	10,772		26,801	39,098
Net Sales/ Income from Operations	18,682	13,435		35,003	50,176
Segment Results
Liquid Terminal Division	729	1,215		3,760	4,458
Gas Terminal Division	3,491	2,166		6,259	8,583
sub-total	4,220	3,381		10,019	13,041
Less: Finance Cost	647	211		547	743
Other un-allocable expenditure (net)	(526)			1,572	1,774
Add : Interest Income	46			478	391
Total Profit Before Tax	4,145			8,378	10,915
Segment Assets
Liquid Terminal Division	91,276			87,893	82,749
Gas Terminal Division	25,160			16.965	13,808
Unallocable	15.090			43,778	29.245
Total	1,31,526			1,48,636	1,25,802
Segment Liabilities
Liquid Terminal Division	8,425			15,521	15,170
Gas Terminal Division	9,705			7,371	3,948
Unallocable	6.843			7 703	2,732
Total	24,973			30,595	21,850
Capital employed
Liquid Terminal Division	82,851			72,372	67,579
Gas Terminal Division	15,455			9,594	9,860
Unallocable	8 247			36 075	26,513
Total	1,06,553			1,18,041	1,03,952

STANDALONE STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER 2018

AEGIS t.OGISTICS LIM ITED
STANDALONE STATEMENT OF UNAUDITED FINANCIAL RESULTS-FOR THE QUARTER AND NINE MONTHS·ENDED-31ST DECEMBER 2018
NOTES:
The above Standalone Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors at the meeting held on31st JanuaoJ.2019.
Other Expenditure includes the provision ·of Commission Rs.249 lacs and Rs 683 lacs for the quarter and Nine months ended 31st December, 2019respectively to the Managing Directors which is dependent upon the net profit determinable uts 198 of the Companies Act, 2013 at the year end.
3 Figures for the previous period/ year have been regrouped wherever necessary to correspond with the figures of the current period.
;:;=,Foh
Chairman & Managing DirectorPlace: Mumbai

Date: 31st January,2019.

dNI( &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 REVIEW REPORT

To the Board of Directors of Aegis Logistics Limited

• 1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results (the Statement') of Aegis Logistics Limited ('the Parent Company') and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") for the quarter and the nine months ended 31st December 2018, being submitted by the Parent Company pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as modified by Circular No. CIR/CFD/FAC/62/2016 dated July 5, 2016, read with Circular No. CIR/CFD/CMD/15/2015 dated November 30, 2015.
• 1. This Statement is the responsibility of the Parent Company's Management and is subject to approval by the Board of Directors of the Parent Company at their meeting to be held on 31st January 2019. This statement has been prepared on the basis of the related consolidated interim financial statements in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India. Our responsibility is to issue a report on these financial statements based on our review.
• 1. We conducted our review in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accounts of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the statement is free from material misstatements. A review is limited primarily to inquiries of Company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an auditopinion.
• 1. The statement includes the results of the following nine subsidiaries~.,_

Aegis Terminal Pipavav Limited Aegis LPG Logistics (Pipavav) Limited Konkan Storage Systems (Kechi) Private Limited Sea Lord Containers Limited Aegis Gas (LPG) Private Limited Aegis Group International Pte. Limited Aegis International Marine Services Pte. Limited Eastern India LPG Co. (Private) Limited Hindustan Aegis LPG Limited

.. --

1.i:.'>·. ---- .;,.,.,.

1. We did not review the interim financial results of 2 subsidiaries included in the consolidated unaudited financial results, whose interim financial results reflect total revenues of Rs. 2,967.40 lakhs for the quarter and Rs. 9,405.72 lakhs for the nine months ended 31st December 2018 and total profit after tax of Rs. 2,173.33 lakhs for the quarter and Rs. 7,001.77 lakhs for the nine months ended 31st December 2018, as considered in the consolidated financial results. These interim financial results have been reviewed by other auditors whose reports have been furnished to us by the Management and om report on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors.

2. Based on our review conducted as above , nothing has come to our attention that causes us to believe that the accompanying statement of consolidated unaudited financial results prepared in accordance with applicable principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under and other accounting principles generally accepted in India and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Circular No. CIR/CFD/CMD/15/2015 dated November 30, 2015 and as modified by Circular No. CIR/CFD/F AC/62/2016 dated July 5, 2016, including the manner in which it is to be disclosed or that it contains any material misstatement.

' .,

For C N K & Associates LLP

I

D.P. Sapre Partner Membership No.: 040740 Place: Mumbai Date: 31st January 2019

CONSOLIDATED STATE MENT OF UNAUDITED. FINANCIAL RESULTS FOR THE QUARTER AND NINE.MONTHS ENDED 31ST DECEMBER		2018
					(Rs.In Lakhs except por share data)
Particulars	Quarter ended				Year ended
		·30.09,2018Unaudited	31.12.2017Unaudited			31.03.2018
					Unaudited	Audited
Revenue from operations		1.42,587	1,44,208		3,53.904
Other income		212	135		435	4,79,096
TOTAL INCOME (1+2)		1,42,7W	1,44,343		3,54,339	835
EXPENSES						4,79,931
Purchases of stock-in-trace
Changes in'lnvenlories of finished goods, work in process		1.28,128	1,35,063		3,25;015	4,35,772
and stock in trade
Employee benefl1s expenses		(83)	(2,417)		(2.677)	(320)
Finance costs		1,436	1,058		3.136	4.706
Depreciation and amortisation expense		734	486		1.166	1.523
Olher expenses		1,246	900		2,100	3,431
TOTAL EXPENSES		4.234	3.330		8.814	12.337
		1,35,695	1,38,420		3,37,554	4,57.449
Profit before tax (3-4)		7,104			16,785	22,482
Tax expenses
Current Tax
Tax adjustment in respect of earlier years		1,733			862	5.359
Delerred Tax (Minimum Alternate Tax)						(169)
Total Tax expanses		(381)				(4,089)
		1,352			862	1,101
Profit for the year (5-6)
Attributable to:		5,752			15,923	21,381
Owners of the company		4,890
Non .Controlling Interest		862			14,956	19,781
					967	1,600
Other Comprehensive Income (Net of Taxes)		(16)
Attributable to :					(29)	(68)
Owners of tho company		(16)			(29)
Non Controlling Interest						(68)
TOTAL COMPREHENSIVE INeOME FOR THE PERIOD (
		5,736			15,894	21,313
Attributable to :
Owners of the company		4,874
Non Controlling Interest					14,927	19,713
		862			967	1,600
Pald up Equity Share Capital (face value Re. 1 per share		3.340			3.340	3,340
Earnings per equity share (Face value of Re. 1 each)
Basic (in Rs)
Diluted (in Rs)		1.46			4.48	592
		1.46			4.48	5.92

Sea accompanying notes to the financial results

AEGIS LOGISTICS LIMITED

			(Rs. in Lakhs)
PARTICULARS	Quarter ended	Nine months ended		Year ended
			31.12.2017	31.03.2018
Segment Rev.enueLiquidTerminal DivisionGas Terminal Division			Unaudited12,3783,41,526	Audited16,8284,62,268,
Net Sales / Income from O eratlons			3,53,904	4,79,096
Segment ResultsLiquid Terminal DivisionOas Terminal Division			6,77513,550	8,48018,436
sub-total			20,325	26,916
Less: Finance CostOther un-allocable expenditure (net)Add : Interest Income			1.1662,583209	1,5233,171260
Total Profit Before Tax			16,785	22,482
Segment Assetsliquid Terminal DivisionGas Terminal DivisionUnallocable			1,06,8421,09,4218.965	1.05.6601,10,1035,630
Total			2,25,228	2,21,393
Segment LiabilitiesLiquid Terminal DivisionGas Terminal DivisionUnallocableTotal			16,82147,9027,88672,609	11,49147,6754,12663,292
Capital employedLiquid Terminal DivisionGas Terminal DivisionUnallocable			90,02161,5191,079	94,16962,4281.504
Total			1,52,619	1,58,101

CONSOLIDATED STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTH S ENDED 31ST DECEMBER 2018

AEGIS LOGISTICS LIMITED

CONSOLIDATED STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR TJiE QUARTER AND NINE MONTHS ENDED 31ST DECEMBER 2018

NOTES:

The above Consolidated Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors at lhe meeling held on 31st January.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 Subsidlarv Company	Ownership Interest In%
Sea Lord Containers Limiled·	100.00°A,
Konkan Storage Systems (Koehl) Private Limited	100.00%
Eastern India LPG Co. (Private) Limited	100.00%
Aegis Group International Pie. Limited	60.00%I
Aegis Gas LPG Private Limited	100.00%
Hindustan Aegi• LPG Limited	80.30%
Aegis International Marine Services Pte. Limited	100.00%
Aegis LPG Logistics (PIPAVAV) Limited	100.00%
Aegis Terminal (PIPAVAV) Limited	100.00%

"The Company and its subsidiary Sea Lord Containers Limited ("SCL ") has duly complied with the provisions of section 236 of the Companies Act. 2013 to acquire the equity shares of SCL and accordingly Sea Lord Containers Limited has become a wholly owned subsidiary of the Company wilh effect from 31st December.2018.

3 The Company has opted to publish only Consolidated Financial Results. The Stand-atone Financial Results or the Company for the quarter and six months ended 31st December, 2018 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
		30.09.2018Unaudited	31.12.2017Unaudited			31.03.2018
Net Sales / Income from operations(including other operatin income)		20.419			36.565
Profit before Tax		4.145				52.944
Profit after Tax					8,378	10,915
Total Com rehensive Income		3.016			7,810	10.092
		3,002			7,791	10,039

4 Other Expenditure includes the provision of Commission Rs.249 lacs and Rs 683 lacs for the quarter and nine months ended 31st December, 2018 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 Figures for the previous period I year have been regrouped wherever necessary to correspond with the figures of the current period.

For anQbralf of the Board

cha ,£i:c:~:~n0

Place: Mumbai Date: 31st January,2019.