TickerSutra

NSE: AEGISVOPAK · BSE: 544407 · ISIN INE0INX01018

Aegis Vopak Terminals Limited stock analysis

Aegis Vopak Terminals Limited ranks #1746 in the TickerSutra evidence-ranked universe with a score of 51/100 and 85% data confidence. The latest captured fundamentals show ROCE of 7.6%, quarterly sales growth of 12.4% and quarterly profit growth of -7.0%.
Complete evidence gate pass governance reviewUpdated 29 Sept 2026
TICKERSUTRA SCORE51/100

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#1746 of 5,430 ranked equities
Market capitalisation₹32,253.64cr
ROCE7.6%
Quarterly sales growth12.4%
Quarterly profit growth-7.0%
P/E ratio119.1×
Promoter pledge0.0%

INVESTMENT EVIDENCE

What supports—and challenges—the thesis

Evidence in favour

  • Strong CFO/EBITDA of 1.02×
  • 37.8% three-year sales CAGR
  • CWIP indicates an active capacity pipeline
  • No promoter shares are reported as pledged

Risks and constraints

  • Debt/equity is above 0.5×
  • Valuation is above 40× earnings

Still unresolved: Related-party exposure · Broad media sentiment

FINANCIAL TRAJECTORY

Recent operating history

PeriodRevenueOperating profitNet profitOperating margin
2022₹0cr₹-1cr₹-1crUnavailable
2023₹353cr₹229cr₹0cr65.0%
2024₹562cr₹398cr₹87cr71.0%
2025₹789cr₹575cr₹225cr73.0%
2026₹923cr₹687cr₹342cr74.0%
TTM₹904cr₹675cr₹286cr75.0%
Debt / equity0.87×
CFO / EBITDA1.02×
Operating margin75.0%
Free cash flow₹3cr
Sales CAGR · 3Y37.8%
Profit CAGR · 3YUnavailable

EXCHANGE EVENT TRIGGERS

Latest corporate disclosures

0 positive catalysts0 negative catalysts5 routine filings

MANAGEMENT COMMENTARY

Signals from filed documents

Margin expansionHigh severity · 2 mentions
Positive catalyst

Improved utilization levels across the existing terminal network further supported this growth. ƒ Future Growth Drivers: Future revenue expansion and margin improvements will be driven by higher asset utilization rates and an optimized, high-yield product mix across our core networks (JNPA, Haldia, Kandla, New Mangalore, and Kochi). Ongoing and planned capacity additions across these locations are expected to further

Operating leverageHigh severity · 2 mentions
Positive catalyst

Within this, the liquid terminaling business contributed INR126.5 crores, growing 31% year-on-year, and gas terminaling contributed INR107.2 crores. At the operating level, the operating EBITDA increased by 15.6% year-on-year to INR179.4 crores, reflecting the benefits of higher liquid volumes, capacity additions, and operating leverage. The cash profit after tax stood at INR124.9 crores, demonstrating our continued

Market share gainHigh severity · 2 mentions
Positive catalyst

So my first question is regarding the performance. So what I see is that at least from whatever PPAC reports, it seems that we have meaningfully gained market share quarter-on-quarter. Now from that perspective, what are you doing different from an LPG sourcing strategy that, let's say, the OMCs or the others are not able to do?

Debt reductionHigh severity · 1 mention
Positive catalyst

Debt-to-Equity Ratio 0.08 1.58 -95% Reduction in non-current borrowings via debt repayment and a simultaneous increase in total equity from the issuance of new equity shares. Net Debt-to-Equity Ratio 0.41 1.18 -65% Deleveraging of the balance sheet through the repayment of debt using equity share issuance proceeds. Return on Net Worth (RoNW) 11.02% 17.13% -36% Expansion of the net worth base due to a significant rise

Regulatory updatesHigh severity · 9 mentions
Constructive

We had previously mentioned Vadhavan, I'll just refresh everyone's memory. We had signed a non- binding memorandum of understanding to participate in the development of this port with a potential investment of approximately -- INR20,000 crores, subject to necessary approvals, land allocation, and other regulatory clearances. And this opportunity is well aligned with our long- term vision of developing large-scale, wo

Capacity expansion plansHigh severity · 12 mentions
Positive catalyst

We have always demonstrated growth year-on-year both in EBITDAs and our revenue as well as our PAT, and we hope to maintain that this year also. Growth coming out of new capacity, Aegis Vopak Terminals Limited August 14, 2026 Page 12 of 16 growth coming out of utilization of our existing capacity. We are very hopeful that we will be able to deliver.

Management confidenceModerate severity · 2 mentions
Constructive

So I have to ensure and try my best to reach an equity net worth of $2 billion. I would almost with my second phase of equity which I have to do mandatorily to dilute to 25% by 2nd June 2028, we are confident that this $2 billion mark, along with this equity infusion and internal accruals, we will be able to reach. So I think $5 billion capex is funded, funded well.

Institutional interestLow severity · 4 mentions
Positive catalyst

The Issue constituted 10.75% of the post-Issue paid-up equity share capital of your Company. The IPO witnessed robust participation from leading domestic and global institutional investors, Non-Resident Indians (NRIs), High Net Worth Individuals (HNIs), and retail investors. The Board of Directors is deeply gratified by and expresses its profound gratitude for the trust reposed in the Company by its members.

Regulatory approvalLow severity · 8 mentions
Watch

10 each held by the existing shareholders as on the Record date of July 29, 2024 and allotment of the same was done on August 28, 2024. [d] Rights, preferences and restrictions attached to equity shares : a) Right to receive dividend as may be approved by the Board of Directors / Annual General Meeting. b) The Equity Shares are not repayable except in the case of a buyback, reduction of capital or winding up in terms

Export market updatesLow severity · 1 mention
Constructive

The Policy will also help the Company to attain optimal Board diversity and create a basis for succession planning. In addition, it is intended to ensure that – a) the Company is able to attract, develop and retain high- performing and motivated Executives in a competitive international market; b) the Executives are offered a competitive and market aligned remuneration package, with fixed salaries being a significant

HOW TO READ THIS PAGE

Evidence, freshness and limitations

What does the TickerSutra score mean?

The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.

Which sources support this page?

Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.

Why can an item be unresolved?

Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.

Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer

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