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%.Monitor only
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
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹0cr | ₹-1cr | ₹-1cr | Unavailable |
| 2023 | ₹353cr | ₹229cr | ₹0cr | 65.0% |
| 2024 | ₹562cr | ₹398cr | ₹87cr | 71.0% |
| 2025 | ₹789cr | ₹575cr | ₹225cr | 73.0% |
| 2026 | ₹923cr | ₹687cr | ₹342cr | 74.0% |
| TTM | ₹904cr | ₹675cr | ₹286cr | 75.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Aegis Vopak Terminals Limited has informed the Exchange about Incorporation of a wholly owned subsidiary
RoutineAegis Vopak Terminals Ltd - 544407 - Incorporation Of A Wholly Owned SubsidiaryBSE · 26 Sept 2026Intimation is attached.
RoutineAegis Vopak Terminals Ltd - 544407 - Announcement under Regulation 30 (LODR)-Credit RatingBSE · 18 Sept 2026Credit rating intimation is attached
RoutineNOC/No dues certificate/consent/permissionNSE · 14 Sept 2026Axis Trustee Services Limited has informed the exchange for Aegis Vopak Terminals Limited regarding NOC/No dues certificate/consent/permission of ISIN INE0INX07015 for the FY 2026-2027
RoutineSecurity Cover CertificateNSE · 10 Sept 2026Axis Trustee Services Limited has informed the exchange for Aegis Vopak Terminals Limited regarding Security Cover Certificate of ISIN INE0INX07015 for Q1 for the FY 2026-2027
MANAGEMENT COMMENTARY
Signals from filed documents
Improved utilization levels across the existing terminal network further supported this growth. 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
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
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-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
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
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.
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.
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.
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
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
DIRECTOR & BUSINESS NETWORK
Loading corporate intelligence
Loading universe coverage and exchange-backed evidence…