Aegis Logistics Ltd. — Investor Presentation 2025

Jun 20, 2025

Investor Presentation Q4 FY2025

AEGIS LOGISTICS LTD.

June 2025

Safe Harbour

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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 securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cashflows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forwardlooking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.

All Maps used in the presentation are not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness.

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INVESTOR PRESENTATION: Q4 FY2025

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Vision

To support India’s transition towards a more sustainable future.

Mission

To store and distribute bulk liquids and gases in a safe, sustainable manner.

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INVESTOR PRESENTATION: Q4 FY2025

Aegis at a Glance

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Liquid Division

Third Party Liquid Logistics (3PL) EPC Services

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Gas Division

Third Party Gas Logistics (3PL) Gas Distribution Gas Sourcing

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INVESTOR PRESENTATION: Q4 FY2025

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Q4 & FY25 Highlights

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INVESTOR PRESENTATION: Q4 FY2025
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FY25: Robust Profit Growth

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Normalized EBITDA crossed a new milestone of Rs. 1100 Cr Highest-ever EBITDA for Gas & Liquids Highest-ever PBT Highest-ever PAT

DRIVEN BY

Highest-ever Logistics volumes Highest-ever Liquids revenue

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INVESTOR PRESENTATION: Q4 FY2025

Q4FY25: Performance at glance

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KEY HIGHLIGHTS

Successful listing of Aegis Vopak Terminal Limited(AVTL)

Started Ammonia storage terminal development at Pipavav for the capacity of 36k MT

LIQUIDS DIVISION

Normalized EBITDA

Rs. 434 Cr.

+30% GROWTH

PAT

Rs. 318 Cr.

+34% GROWTH

Recorded Highest ever Revenues and EBITDA in Q4

Full commissioning of JNPA liquid storage terminal

Full commissioning of Mangalore Liquid storage terminal

Gas Division EBITDA

Rs. 203 Cr.

• +33% GROWTH

Liquid Division EBITDA

Rs. 232 Cr.

+28% GROWTH

GAS DIVISION

Record Logistics Volumes in Q4

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INVESTOR PRESENTATION: Q4 FY2025

Liquids: Strong Growth

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Revenue
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242 Highest
Ever
+25%
193
Q4FY24 Q4FY25
650
Highest
549 +18%
Ever
FY24 FY25
Rs. In Cr.
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EBIDTA
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Highest
203 Ever
+33%
153
Q4FY24 Q4FY25
Highest
498 Ever
+26%
396
FY24 FY25
Rs. In Cr.
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*Normalized EBITDA: before Forex, hedging-related expenses

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INVESTOR PRESENTATION: Q4 FY2025

LPG: Continued Volume Growth

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Logistics
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Distribution

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1225 136
1107 +11% 126
Highest Q4
Volume
+08%
Q4FY24 Q4FY25 Q4FY24 Q4FY25
4523 560
4105 521
+10%
Highest FY25
Volume
-07%
FY24 FY25 FY24 FY25
‘000 MT
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4523
4105
+10%
Highest FY25
Volume
FY24 FY25
‘000 MT
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Sourcing

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220
-37% 139
Q4FY24 Q4FY25
798
597
-25%
FY24 FY25
‘000 MT
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INVESTOR PRESENTATION: Q4 FY2025

Q4FY25 - Consolidated Profit Statement

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Rs. in Cr.	Q4FY25	Q4FY24	Y-o-Y %
Revenue	1705	1837	-7%
Cost of Sales	1193	1435
Others	78	69
Normalised EBITDA (Segment)*	434	334	30%
Finance, Hedging & Forex-related Expenses (Net)	-6	-3
Depreciation	40	33
Unallocated Expenses	19	-3
Profit Before Tax	381	307	24%
Tax	63	70
Profit After Tax	318	237	34%
EPS	8.02	5.59

*Normalised EBITDA – Before Forex, Hedging-Related Expenses

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INVESTOR PRESENTATION: Q4 FY2025

FY25 - Consolidated Profit Statement

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Rs. in Cr.	FY25	FY24	YoY%
Revenue	6764	7046	-4%
Cost of Sales	5297	5769
Others	294	269
Normalised EBITDA (Segment)*	1173	1008	16%
Finance, Hedging & Forex-related Expenses (Net)	-20	-3
Depreciation	150	133
Unallocated Expenses	53	17
Profit Before Tax	989	861	15%
Tax	201	189
Profit After Tax	788	672	17%
EPS	18.90	16.22

*Normalised EBITDA – Before Forex, Hedging-Related Expenses

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INVESTOR PRESENTATION: Q4 FY2025

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Consolidated Balance Sheet

Assets (Rs. In Cr.)	FY25	FY24
Non-Current Assets
Property, Plant and Equipment	5,070	4,123
Capital Work in Progress	1,308	697
Other Intangible Assets	1	1
Goodwill	15	15
Financial Assets
Investments		–
Loan	45	–
Other Financial Assets	22	19
Current Tax Assets (Net)	38	31
Deferred Tax Assets (Net)	238	227
Other Non-Current Asset	193	109
Total Non-Current Assets	6,930	5,223
Current Assets
Inventories	185	64
Financial Assets
Investments	0	194
Trade Receivables	693	513
Cash and Cash Equivalents	1,411	1,032
Bank Balance Other Than Above	1,780	742
Other Financial Assets	96	156
Other Current Assets	138	148
Total Current Assets	4,303	2,850
~~INVESTOR PRESENTATION: Q4 FY2025~~ Total Assets	11,233	8,073

Equities & Liabilities(Rs. In Cr.)	FY25	FY24	12
Equity
Equity Share Capital	35	35
Other Equity	4,596	3,859
Equity Attributable to Owners	4,631	3,894
Non-Controlling Interest	1.091	568
Total Equity	5,722	4,462
Liabilities
Non-CurrentLiabilities
Financial Liabilities
Borrowings	2,353	1,432
Lease Liabilities	1,586	919
Other Financial Liabilities	59	56
Provisions	17	15
Deferred Tax Liabilities (Net)	153	144
Other Non-Current liabilities	1	2
Total Non-Current Liabilities	4,169	2,568
CurrentLiabilities
Financial Liabilities
Borrowings	531	231
Lease Liabilities	136	83
Trade Payables	444	435
Other Financial Liabilities	97	198
Other Current Liabilities	70	69
Provisions	12	10
Current Tax Liabilities (Net)	52	17
Total Current Liabilities	1,342	1,043
Total Equities & Liabilities	11,233	8,073

Consolidated Cash Flow

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Rs. In Cr.	FY25	FY24
Profit Before Tax	989	861
Operating Profit Before Working Capital Changes	1,107	955
Net Cash Inflow from Operating Activities (A)	558	656
Net Cash Inflow/(Outflow) from Investing Activities (B)	-1,463	-712
Net Cash Outflow from Financing Activities (C)	1,283	256
Net Increase/(Decrease) in Cash and Cash Equivalents (A+B+C)	378	200
Cash and Cash Equivalents at the Beginning of Year	1,032	833
Cash and Cash Equivalents at the End of Year	1,410	1,032

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INVESTOR PRESENTATION: Q4 FY2025

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FY25 Operational Highlights

INVESTOR PRESENTATION: Q4 FY2025

FY25: Key Events

• Successfully listing of AVTL and Bank borrowing fully paid in AVTL

Objects of the Issue: Proceeds of Rs. 2,800 crores to

• Repayment of bank borrowings

• Funding capital expenditure towards the contracted acquisition of the cryogenic LPG terminal at Mangalore

• • General Corporate Purpose

• Largest Capex implementation in LPG by Aegis completed

• Foothold into second port of Mumbai JNPT port with full commissioning of 101,900 KL Liquids Terminal

• Connection to LPG pipelines grids secured and progressing well for Pipavav & Kandla terminals

• Kandla, Mangalore and Kochi Liquids expansion completed

• Started Ammonia storage terminal development at Pipavav for the capacity of 36k MT

• Additional land allotted in Kandla, JNPA and Mangalore

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Listed on exchanges on 02 [nd] Jun’25
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INVESTOR PRESENTATION: Q4 FY2025

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Business Performance Liquid Division

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INVESTOR PRESENTATION: Q4 FY2025

Liquids: Continued Growth

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Revenue EBIDTA
650 498
549
396
418
272
270
195
234
173
FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25
Normalized EBITDA: before Forex, hedging-related expenses
Rs. In Cr.
Rs. In Cr.
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INVESTOR PRESENTATION: Q4 FY2025

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Business Performance Gas Division

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INVESTOR PRESENTATION: Q4 FY2025

LPG Terminalling Capacity

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Static
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Throughput

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119
FY19 FY20 FY21 FY22 FY23 FY24 FY25
‘000 MT
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9600
FY19 FY20 FY21 FY22 FY23 FY24 FY25
‘000 MT
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*Normalized EBITDA: before Forex, hedging-related expenses

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INVESTOR PRESENTATION: Q4 FY2025

LPG Distribution Drives Volume Growth

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560
-07% 521
494
YoY
165 160
115
FY20 FY21 FY22 FY23 FY24 FY25
‘000 MT
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INVESTOR PRESENTATION: Q4 FY2025

Record Gas Division EBITDA*

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675
612
600
532
500
423
390
400
362
300
Normalized EBITDA: before Forex, hedging-related expenses
200
FY20 FY21 FY22 FY23 FY24 FY25
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INVESTOR PRESENTATION: Q4 FY2025

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Strategy

INVESTOR PRESENTATION: Q4 FY2025

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Necklace of Terminals

Build, own, and operate India’s leading network of tank
terminals and distribution facilities, incorporating the highest
safety and environmental standards.
	Liquid Terminals	Gas Terminals
Kandla
Pipavav				Kandla
Mumbai				Pipavav		Haldia
				Mumbai
Mangalore					JNPT
Kochi		-
Haldia				Mangalore
JNPT		-			Kochi

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INVESTOR PRESENTATION: Q4 FY2025

LPG Distribution System

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We have a national network of LPG terminals and cylinder filling plants serving these segments.

Autogas

142 stations over 10 states dispensing autogas, petrol, and diesel, growing to a planned 200 stations over 20 states

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Commercial

Expansion into a national distribution network for hotels, restaurants, and industry under Aegis Puregas & Magna brands

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Domestic

Tier 1, 2 & 3 urban cities with distributors and POS under Aegis Chota Cikander 2kg, 4kg, 12kg & 19kg products, supplied from a network of LPG bottling plants

Industrial

Serving industrial clusters with reliable supply from our four LPG terminals

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INVESTOR PRESENTATION: Q4 FY2025

Diverse Business Relationships

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The brand names mentioned are the property of their respective owners and are used here for identification purpose only

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INVESTOR PRESENTATION: Q4 FY2025

Integrated LPG Supply Chain

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Our integrated logistics services include sourcing, storing, moving, and distributing products.

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LPG

Strategic Port Location

Sourcing

LPG Sourcing JV with Key gateway ports: Mumbai, Itochu in Singapore Haldia, Pipavav, and Kandla

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Storage Terminals

Refrigerated gas terminal in Mumbai, Haldia and Kandla, and pressurised gas terminal in Pipavav

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Pipelines & Rail

Connectivity

Pipelines, road, and rail connectivity

Autogas, Commercial & Industrial Distribution

Network of 142 Autogas stations in 10 states, and 290 LPG distributors across 140 cities in 15 states

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INVESTOR PRESENTATION: Q4 FY2025

Project GATI: Gateway Access to India

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01 02 03 04
05
Greenfield Brownfield Mergers & New
Big Ticket Projects
Expansion Expansion Acquisitions Energy
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INVESTOR PRESENTATION: Q4 FY2025

Dividend Growth

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9.00
7.25
8.00
7.00
6.00
5.00
4.00
3.00
2.00
1.00
0.00
FY19 FY20 FY21 FY22 FY23 FY24 FY25
Rs. per Share
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*Declared 1st Interim Dividend for FY 2025-26 of Rs. 2.00 per share

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INVESTOR PRESENTATION: Q4 FY2025

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Thank You

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Aegis Logistics Limited CIN: L63090GJ1956PLC001032

Mr. Murad Moledina, CFO murad@aegisindia.com

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MUFG Intime India Private Limited (A part of MUFG Corporate Markets, a division of MUFG Pension & Market Services)

Mr. Irfan Raeen +91 9773778669 irfan.raeen@in.mpms.mufg.com

Ms. Payal Dave +91 9819916314 Payal.dave@in.mpms.mufg.com

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INVESTOR PRESENTATION: Q4 FY2025