Aegis Logistics Ltd (AEGISLOG)

Services · Trading · NSE · Updated 1 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹1,289.6 ↑ 91.73% (1Y)

🎯 Key Takeaways

Aegis Logistics is in a high-growth phase driven by strategic infrastructure expansion and margin accretion, transitioning from operational scale-up to sustainable profitability. Management is executing a clear capital deployment plan focused on port storage expansion and terminal development, supported by strong volume growth and margin expansion in LPG and gas segments.
Revenue declined 9.2% QoQ to ₹2,357 in Q1FY27.
⚠️ 1) Execution risk in large-scale infrastructure projects — delays in ammonia terminal commissioning or Phase-I storage rollout could impact growth mom

Market Cap

₹45,265

P/E Ratio

36.2

P/B Ratio

7.48

ROE

24.4%

ROCE

24.6%

Debt/Equity

0.40

Div Yield

0.67%

Promoter

58.1%

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📖 The Story

Aegis Logistics is in a high-growth phase driven by strategic infrastructure expansion and margin accretion, transitioning from operational scale-up to sustainable profitability. Management is executing a clear capital deployment plan focused on port storage expansion and terminal development, supported by strong volume growth and margin expansion in LPG and gas segments. The company has evolved from a regional player to a nationally integrated logistics operator with growing institutional confidence.

📰 What's Happening

In Q1 FY27, Aegis Logistics delivered record PAT of ₹545 crores (+212% YoY), fueled by 296% YoY EBITDA growth in Gas and 91% volume growth in LPG distribution. The company expanded LPG storage capacity by 132,122 cubic meters across key ports including Mumbai, JNPA, Kandla, Pipavav, and Kochi. ITOCHU acquired a 10% stake in Pipavav Terminal with plans to reach 25% over three years, while joint development agreements with L&T and Hindustan Zinc target ammonia terminal commissioning by H1 FY27. Management projects sustained EBITDA per ton above ₹7,000 and 25%+ long-term volume growth targeting 2 million tons. The 69th AGM on August 7, 2026, approved FY26 audited financials with PAT at ₹1,106.63 crores (+40.54% YoY) and declared a final dividend of ₹6.70/share. Board approval of unaudited Q1 results on August 6, 2026, confirmed readiness for disclosure, with no forward-looking guidance provided in that filing.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	2,294	1,725	2,594	2,357
Operating Profit	239	244	571	661
OPM %	10.4%	14.2%	22.0%	28.0%
Net Profit	244	233	455	545
EPS	₹5.12	₹5.04	₹11.69	₹13.80

Aegis Logistics is demonstrating accelerating financial momentum, with revenue rising to ₹2,357 crores in Q1 FY27 from ₹2,294 crores in Q3 FY26, while net profit surged to ₹545 crores (+112% QoQ) and OPM expanded to 28.0% from 10.4% a year ago. This growth is not episodic but structurally anchored in operational scaling — volume growth of 91% in LPG distribution and 296% EBITDA growth in Gas underscore margin expansion from infrastructure utilization. The company has transitioned from early-stage growth to scalable profitability, with OPM improving sequentially from 14.2% in Dec FY26 to 28.0% in Q1 FY27, reflecting better cost absorption and operational leverage.

🔮 Management Outlook & What's Next

Management has articulated a clear long-term growth trajectory, targeting 25%+ volume growth and sustained EBITDA per ton above ₹7,000, underpinning a path toward 2 million tons in long-term capacity. Key near-term milestones include Phase-I liquid storage at JNPA expected in Q1 FY27 and ammonia terminal commissioning by H1 FY27. While no formal forward guidance was issued in the latest board meeting filing, prior investor commentary and strategic disclosures indicate management’s confidence in sustaining margin expansion through asset-light partnerships and infrastructure monetization. The focus remains on capital-light growth via joint ventures and stakeholder collaborations rather than organic capex-led expansion.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	35	35	35	35
Reserves	4,087	4,596	5,906	6,020
Borrowings	4,374	4,606	2,439	2,417
Total Liabilities	9,900	11,233	12,050	14,491
Fixed Assets	4,726	5,070	6,373	6,363
Investments	0	0	925	1,745
Total Assets	9,900	11,233	12,050	14,491

The balance sheet reflects a deliberate shift toward capital efficiency and strategic reinvestment, with equity remaining stable at ₹35 crores while reserves grew to ₹6,020 crores by March 2026, indicating strong retained earnings. Borrowings declined to ₹2,417 crores from ₹4,606 crores in March 2025, signaling active deleveraging despite rising asset base. Total assets expanded to ₹14,491 crores, driven by infrastructure investments, but the improving equity-to-asset ratio suggests reduced financial risk. The company is increasingly funding growth through internal cash flows and strategic partnerships rather than debt, aligning with a mature capital allocation strategy focused on returning capital via dividends while maintaining investment capacity.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2026
Operating	+2,028
Investing	-2,533
Financing	+1,606
Net Cash Flow	+1,101

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	58.1%	58.1%	58.1%	58.1%
FII	16.9%	17.9%	19.6%	19.5%
DII	6.3%	5.4%	3.7%	3.6%
Public	9.8%	9.7%	9.8%	9.8%
# Shareholders	81,425	77,695	78,190	77,194

Institutional confidence is rising, with FII holding increasing from 16.88% in Q2 FY26 to 19.54% in Q1 FY27, despite promoter holding remaining flat at 58.1%. DII holdings have fluctuated slightly but remain low at 3.6%, suggesting limited domestic institutional participation. The growing FII presence, coupled with a stable promoter base, indicates external investors are recognizing the company’s structural growth story. With 77,194 shareholders, retail participation remains broad, but the increasing FII allocation reflects growing recognition of Aegis Logistics as a high-quality, scalable logistics play with durable cash flows.

⚖️ Peer Comparison — Trading

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
ADANIENT	4.29 L Cr	49.1	10.9%	9.1%	1.09
PREMIERENE	46,031	27.3	50.0%	59.3%	0.67
AEGISLOG	45,265	36.2	24.6%	24.4%	0.40
REDINGTON	28,601	16.8	18.4%	14.8%	0.26
HONASA	15,348	61.5	28.3%	21.1%	0.00
504346	11,524	—	-24.9%	-47.5%	0.73
LLOYDSENT	11,165	36.4	7.0%	5.7%	0.17
SGMART	9,937	79.9	11.2%	7.8%	0.14
MMTC	9,462	21.2	42.4%	26.3%	0.00
EBGNG	7,273	51.6	31.3%	62.9%	1.92

🔗 Peer Stock Analyses

ADANIENT PREMIERENE REDINGTON HONASA 504346

⚠️ Risk Factors

1) Execution risk in large-scale infrastructure projects — delays in ammonia terminal commissioning or Phase-I storage rollout could impact growth momentum. 2) Competitive pressure in LPG distribution as volume growth attracts new entrants, potentially compressing margins if pricing power erodes. 3) Over-reliance on Gas segment EBITDA growth, which surged 296% YoY but may be difficult to sustain without new terminal capacity coming online. 4) TDS-related dividend drag — non-resident shareholders face up to 20% withholding, reducing net returns and potentially dampening investor interest if not optimized.

📋 Recent Filings

🧠 Analyst's Read

Aegis Logistics is transitioning from growth investor to quality compounding asset, with infrastructure investments translating into measurable margin expansion and volume scalability. The key watchpoint is whether management can maintain EBITDA per ton above ₹7,000 amid rising competition and execution risks in new terminal rollouts. With strong cash flow generation, rising institutional ownership, and a clear capital allocation framework, the company is positioning itself as a defensible logistics franchise — but near-term upside hinges on timely execution of ammonia and storage projects.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-01.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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