Aegis Logistics logo

Aegis Logistics

AEGISLOG NSE

Key Fundamentals

MidcapTrading GasOil & Gas
Market Cap
₹48,965 Cr
Volatility
Moderate
P/E Ratio
39.3
EBITDA
₹1,778 Cr
Return on Equity
12.6%
Debt to Equity
0.69
Book Value
₹172.51
EPS
₹16.66
52W High
₹1,528.7
52W Low
₹576.1

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

4
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 31.2% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 38.8%
  • Debtor days have improved from 28.4 to 21.1 days.

Weaknesses

2
  • Stock is trading at 8.12 times its book value
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
24.21% higher than 3Y
Net Income Growth
40.54% higher than 3Y
Cash Flow Change
263% higher than 3Y
ROE
-8.43% lower than 3Y
ROCE
22.79% higher than 3Y
EBITDA Margin (Avg.)
9.61% lower than 3Y

AI Analysis — Bull vs Bear

4d ago
AI opinion · based on fundamentals
Risk medium

Aegis Logistics has a market capitalisation of about Rs 46,929 crore and trades at 32.5x earnings and 7.92x book value. Profit has compounded at 31% over 5 years and at 89% on a TTM basis, while 3-year sales CAGR is -1%. ROE has held steady at 15-16% across the 3, 5 and 10-year periods, and the stock has returned 82% over the past year, well ahead of its 10-year CAGR of 24%.

Bull Case 8
  • Profit has compounded at 31% CAGR over 5 years and 23% over 10 years, which shows sustained earnings growth across multiple business cycles.
  • TTM profit growth of 89% on TTM sales growth of 30% points to strong operating leverage and possible margin expansion in the recent period.
  • ROE has stayed within a narrow 15-16% band across the last-year, 3-year, 5-year and 10-year periods, which suggests stable capital efficiency even through a heavy capex phase.
  • Debtor days improved from 28.4 to 21.1, a reduction of about 26%. That signals tighter working capital management and better cash conversion.
  • The company keeps a dividend payout ratio of 38.8% while still funding growth, so shareholders receive some return alongside reinvestment.
  • Sales growth of 17% CAGR over 5 years and 14% over 10 years reflects long-term expansion of the business.
  • The 10-year stock CAGR of 24% is closely matched by the 10-year profit CAGR of 23%, which suggests long-run share price gains have been backed by earnings rather than multiple expansion alone.
  • The company is flagged as expected to report a good quarter, which may support near-term earnings momentum following 30% TTM sales growth.
Bear Case 8
  • The stock trades at 7.92x book value against an ROE of 16%. That leaves limited room for error if returns on capital do not improve.
  • A P/E of 32.5 implies an earnings yield of about 3.1%, which is a demanding multiple for a business whose 3-year sales CAGR is -1%.
  • The 1-year stock return of 82% is well above the 5-year profit CAGR of 31% and the 10-year stock CAGR of 24%, which suggests a meaningful portion of recent gains came from multiple re-rating.
  • 3-year sales CAGR of -1% against 5-year sales CAGR of 17% shows revenue volatility, likely tied to commodity-linked sourcing and trading activity.
  • The company may be capitalising interest cost. If so, reported profit, including the 89% TTM growth, could overstate underlying earnings until those assets are commissioned and the interest flows through the P&L.
  • TTM profit growth of 89% is almost 3x TTM sales growth of 30%. That raises the question of how much of the gain is sustainable versus one-off or margin-driven, and creates a tough base for future comparisons.
  • A dividend yield of 0.64% offers little valuation support if earnings growth slows from the recent 89% TTM pace.
  • Debt-to-equity and ROCE are not available in the provided data. With interest capitalisation flagged, the balance-sheet leverage behind the capex cycle cannot be fully assessed.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

1d ago
Headwinds 4
  • Sharp weekly sell-off Sep 28

    Shares fell more than 11% in the past week, including a 4.64% drop to ₹1,303.65 on BSE on Sep 28, which took market cap to ₹46,082.79 crore. The correction comes after an 84% YTD rally, which suggests profit-taking and nervousness about the deal.

  • ₹6,000 cr fund raise overhang Sep 28

    The board approved raising up to ₹6,000 crore through equity, QIP/preferential, FCCB/ADR/GDR, NCDs or convertibles in one or more tranches. If equity is used, existing shareholders could face dilution. The plan still needs shareholder and regulatory approval.

  • Rising leverage from higher borrowing Sep 28

    The board approved higher borrowing limits and the creation of security over company assets. The company is moving from a net-cash position toward a target gearing of 0.6x and net debt-to-EBITDA of 3.5x.

  • Unconfirmed Tristar deal, execution risk Sep 28

    Media reports say Aegis is in advanced talks to acquire Tristar Group, which operates in 30+ countries with $1.4 billion revenue in CY2025. The company has made no official announcement. A cross-border acquisition of this size would carry integration and execution risk.

Positives 5
  • Q1 FY27 profit nearly quadruples Sep 28

    Consolidated net profit rose to ₹484.44 crore from ₹131.32 crore YoY, about 3.7x. Revenue from operations grew 37.07% to ₹2,356.86 crore from ₹1,719 crore.

  • JPMorgan Overweight, ₹1,670 target Sep 28

    JPMorgan kept its Overweight rating with a ₹1,670 target, about 28% above the Sep 28 close of ₹1,303.65. Four of the six analysts covering the stock rate it Buy, with one Hold and one Sell.

  • Tristar valuation looks attractive Sep 28

    JPMorgan sees the possible deal multiple of about 5.8x EV/EBITDA as attractive, based on Tristar's $257 million EBITDA in CY2025. Tristar's customers include BP, ADNOC, ExxonMobil, Total and Shell.

  • Strong cash flow, net-cash balance sheet Sep 28

    Aegis generated about ₹2,000 crore of operating cash flow in FY26 and had a net cash balance sheet. JPMorgan believes it can fund both capacity expansion and an acquisition through debt and internal accruals.

  • 2030 organic and inorganic roadmap Sep 28

    Management has set out a 2030 growth plan covering organic and inorganic expansion. It builds on the current 15.7 lakh KL of liquid storage and 1.14 lakh MT of static LPG storage across Indian ports.

Neutral 4
  • Singapore subsidiary incorporated Sep 26

    On Sep 25-26, Aegis Logistics International Pte Ltd was incorporated in Singapore through Eastern India LPG Company to handle storage and logistics operations. This may give the company an overseas holding structure for international growth, including the possible Tristar deal.

  • Board meeting on fund raise Sep 23

    On Sep 23, Aegis announced a Sep 28, 2026 board meeting to consider equity and debt fund-raising proposals. The insider trading window was closed.

  • Niche99 ESG score of 61 Sep 18

    Niche99 gave Aegis an independent ESG rating of 61 on Sep 18, 2026. The rating was based on public domain data, without direct engagement from the company.

  • CLSA Hong Kong conference participation Sep 15

    Company officials were scheduled to attend the CLSA Hong Kong Conference on Sep 23-24, 2026. The company confirmed that no unpublished price-sensitive information would be shared.

TL;DR: Aegis Logistics' fundamentals look strong, with Q1 FY27 profit up about 3.7x to ₹484.44 crore, revenue up 37%, a net-cash balance sheet and mostly Buy ratings, led by JPMorgan's ₹1,670 target. The stock has still fallen more than 11% in a week after an 84% YTD rally. That reflects worries about a possible ₹6,000 crore fund raise, potential equity dilution, higher leverage and execution risk on the still-unconfirmed Tristar acquisition. Over the near term, sentiment will likely depend on whether the company confirms Tristar, at what price, and whether the fund raise uses mostly debt or equity.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
2,101
1,235
1,873
1,837
1,601
1,750
1,707
1,705
1,719
2,294
1,725
2,594
2,357
Expenses
1,905
1,027
1,662
1,530
1,369
1,526
1,474
1,296
1,479
2,003
1,428
1,970
1,643
Operating Profit
196
208
212
307
232
224
233
409
240
291
297
624
714
OPM %
9%
17%
11%
17%
15%
13%
14%
24%
14%
13%
17%
24%
30%
Other Income
37
44
45
63
44
39
60
65
63
96
81
87
106
Interest
30
27
30
29
31
30
51
52
33
24
26
63
48
Depreciation
33
34
34
33
37
37
37
41
42
52
53
53
53
PBT
170
192
192
307
208
196
204
381
228
310
299
596
719
Tax %
22%
22%
21%
23%
24%
22%
22%
17%
23%
21%
22%
24%
24%
Net Profit
133
150
152
237
158
152
160
318
175
244
233
455
545
EPS in Rs
3.3
3.62
3.71
5.59
3.75
3.59
3.54
8.02
3.74
5.12
5.04
11.69
13.8
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
3,915
2,212
3,930
4,791
5,616
7,183
3,843
4,631
8,627
7,046
6,764
8,333
8,971
Expenses
3,771
2,026
3,727
4,525
5,245
6,906
3,456
4,096
7,955
6,123
5,666
6,881
7,045
Operating Profit
144
185
204
266
371
277
388
535
672
923
1,098
1,452
1,926
OPM %
3.7%
8%
5%
6%
7%
3.9%
10%
12%
8%
13%
16%
17%
21%
Other Income
42
8
6
8
8
33
37
39
187
190
208
326
370
Interest
20
18
16
15
26
33
17
22
88
116
165
146
161
Depreciation
23
23
24
34
51
69
72
79
126
135
152
199
210
PBT
142
153
169
225
302
208
336
472
645
861
989
1,433
1,925
Tax %
21%
17%
21%
5%
17%
35%
26%
18%
21%
22%
20%
23%
—
Net Profit
112
126
133
214
252
134
249
385
511
672
787
1,107
1,476
EPS in Rs
3.1
3.39
3.57
5.92
6.63
2.93
6.36
10.19
13.19
16.22
18.9
25.59
35.65
Div. Payout %
24%
27%
29%
21%
21%
58%
31%
25%
44%
40%
42%
34%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
33
33
33
33
33
34
35
35
35
35
35
35
Reserves
394
471
804
1,174
1,358
1,621
1,901
2,145
3,497
3,859
4,596
6,020
Borrowings
218
188
286
304
239
253
734
835
1,924
2,665
4,606
4,150
Other Liabilities
291
206
871
703
715
982
371
946
1,613
1,369
1,843
4,064
Total Liabilities
937
899
1,994
2,214
2,345
2,890
3,042
3,961
7,069
7,929
11,080
14,269
Fixed Assets
454
472
748
1,282
1,329
1,699
1,711
2,376
3,661
4,139
5,086
6,363
CWIP
34
73
313
126
121
220
488
253
412
697
1,308
764
Investments
21
0
0
0
10
7
0
0
204
194
0
1,745
Other Assets
428
354
933
806
885
964
844
1,333
2,792
2,899
4,686
5,398
Total Assets
937
899
1,994
2,214
2,345
2,890
3,042
3,961
7,069
7,929
11,080
14,269
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
122
138
177
191
556
146
442
280
358
656
558
2,028
Investing
15
-64
-220
-296
-155
-151
-428
-179
-931
-712
-1,463
-2,533
Financing
-77
-83
47
184
-143
-126
61
-304
1,311
256
1,283
1,606
Net Cash Flow
61
-9
4
80
258
-131
74
-203
738
200
378
1,101
Free Cash Flow
75
47
-46
-108
402
-24
83
-113
-179
42
-386
1,212
CFO/OP
93
97
101
94
167
78
127
69
113
96
69
167
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
19
16
66
26
15
23
9
58
35
27
37
21
Inventory Days
2
2
2
2
2
2
6
9
7
4
13
7
Days Payable
19
15
69
32
35
23
9
63
42
28
31
40
Cash Conversion Cycle
2
3
-2
-3
-18
3
6
3
1
3
20
-12
Working Capital Days
-5
-8
-27
-29
-30
-9
-23
-11
7
-8
-12
-113
ROCE %
21%
24%
20%
18%
20%
13%
15%
17%
16%
15%
13%
13%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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62 extracted metrics + investor summaries across FY07–FY27.

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Shareholding Pattern

DIIs3.60%Promot.58.10%Others8.96%Public9.80%FIIs19.54%As ofJun 2026

Documents

Frequently Asked Questions about Aegis Logistics

What does Aegis Logistics Ltd do?
Aegis Logistics (Formely known as Aegis Chemical Industries Ltd.), incorporated in 1956 provide logistic solutions for oil, gas, chemicals, and petrochemical industries.[1]
Where is Aegis Logistics Ltd (AEGISLOG) listed?
Aegis Logistics Ltd trades as AEGISLOG on the NSE and under code 500003 on the BSE.
Which sector does Aegis Logistics Ltd belong to?
Aegis Logistics Ltd is classified under the Oil & Gas sector, in the Trading Gas industry.
What is the market capitalisation of Aegis Logistics Ltd?
Aegis Logistics Ltd has a market capitalisation of ₹48,965 Cr, which places it in the Large Cap band.
What is the PE ratio of Aegis Logistics Ltd?
Aegis Logistics Ltd trades at a PE ratio of 39.30, on earnings per share of ₹16.66, against a book value of ₹172.51 per share.
What is the 52-week high and low of Aegis Logistics Ltd?
Over the last 52 weeks Aegis Logistics Ltd has traded between ₹576.1 and ₹1,528.7.
Does Aegis Logistics Ltd pay dividends?
Aegis Logistics Ltd has a dividend yield of 0.63%.
What is the Return on Equity (ROE) of Aegis Logistics Ltd?
Aegis Logistics Ltd reported a return on equity of 12.60%. Its debt-to-equity ratio is 0.69.

Company Information

Aegis Logistics (Formely known as Aegis Chemical Industries Ltd.), incorporated in 1956 provide logistic solutions for oil, gas, chemicals, and petrochemical industries.[1]

Website aegisindia.com
CEO Mr. Raj Kapurchand Chandaria
Employees 1,043
Listed 1996-04-03
Face Value ₹ 1
Issued Size 35,10,00,000

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