Aegis Vopak approves ₹0.20 dividend after 52% PAT surge in FY26
Aegis Vopak Terminals shareholders approved a ₹0.20 per share final dividend and FY26 financials at its 13th AGM on August 7, 2026. The company reported a 52% surge in consolidated PAT to ₹341.92 crore, driven by higher LPG throughput and new capacity additions. Key resolutions included the re-appointment of Director Murad Moledina and approval of related-party transactions with Aegis Logistics, Aegis Gas, and Sea Lord Containers.

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Aegis Vopak Terminals Limited shareholders approved a final dividend of ₹0.20 per equity share and adopted the audited financial statements for the fiscal year ended March 31, 2026, at the company’s 13th Annual General Meeting held on August 07, 2026. The resolution passed as an ordinary item, marking the completion of key governance processes for the year following the company’s initial public offering in June 2025.
The meeting, conducted via Audio Video Conference (AVC) under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, also saw the re-appointment of Mr. Murad Moledina as a Director liable to retirement by rotation. Shareholders further approved material related-party transactions proposed with Aegis Logistics Limited, a promoter entity, as well as with fellow subsidiaries Aegis Gas (LPG) Private Limited and Sea Lord Containers Limited. Mr. Prasen Naithani, Practicing Company Secretary, served as the Scrutiniser for the remote e-voting process, which ran from August 03 to August 06, 2026.
Financial Performance Highlights
Chairman & Managing Director Raj Chandaria highlighted robust growth during his address, citing a 16.96% increase in consolidated revenue from operations to ₹923.07 crore, up from ₹789.21 crore in the previous year. This expansion was primarily driven by higher throughput volumes across both liquids and gas terminalling businesses.
Profitability metrics showed significant improvement, with consolidated Profit After Tax (PAT) rising 52.07% to ₹341.92 crore from ₹224.84 crore. Operational profit for the group increased to ₹703.45 crore, compared to ₹578.73 crore in the prior financial year. The strong performance was attributed to increased LPG throughput volumes and the scaling up of newly commissioned liquid tankage capacity.
| Metric | FY26 Value | FY25 Value | Change |
|---|---|---|---|
| Consolidated Revenue | ₹923.07 Cr | ₹789.21 Cr | +16.96% |
| Profit After Tax | ₹341.92 Cr | ₹224.84 Cr | +52.07% |
| Operational Profit | ₹703.45 Cr | ₹578.73 Cr | N/A |
Capacity Expansion and Strategic Acquisitions
The company reported significant infrastructure additions during the year, including the acquisition of an operational LPG terminal at New Mangalore Port, which added 82,000 MT of storage capacity. This move increased total LPG static storage capacity from 70,800 MT to 152,800 MT. Further acquisitions included a 48,000 MT cryogenic LPG terminal at Pipavav Port and an entry into the East Coast market via HALPG, adding a 25,000 MT LPG storage asset at Haldia. AVTL now operates a nationwide network of four coastal LPG terminals.
Looking ahead, the flagship Greenfield J2 Project at Jawaharlal Nehru Port Authority (JNPA) is progressing as planned. The project involves a capital outlay of ₹1,675 crore (₹1,67,500 Lakhs) and comprises 77,286 MT of LPG storage, 318,100 CBM of liquid product storage, and an LPG bottling plant with an annual processing capacity of 35,000 MT. Phase-I liquid storage capacity is expected to be commissioned in Q1 FY27. Additionally, the acquisition of India’s first independent ammonia terminal at Pipavav Port, with a static storage capacity of 36,000 MT, is expected to close in the first half of FY27.
What the Numbers Show
The divergence between revenue growth (16.96%) and PAT growth (52.07%) indicates substantial operating leverage gained from recent capacity expansions. With fixed costs likely spread over higher throughput volumes, margins have expanded significantly. Furthermore, the balance sheet remains strong, with a low debt-to-equity ratio of 0.08 and a net debt ratio of 0.41 as of March 31, 2026, reflecting reduced non-current borrowings and increased equity from the IPO. This financial flexibility supports the ongoing capital-intensive expansion projects without straining liquidity.
Historical Stock Returns for Aegis Vopak Terminals
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.18% | -2.39% | +1.90% | +30.99% | +17.24% | +17.89% |
How will the commissioning of Phase-I of the J2 Project in Q1 FY27 impact Aegis Vopak's revenue mix and margin profile given the shift towards integrated liquid and LPG storage?
What are the potential regulatory or market risks associated with entering the ammonia terminal business in India, and how might this diversification affect long-term valuation multiples?
Given the significant operating leverage demonstrated by PAT outpacing revenue growth, can this margin expansion be sustained as new capacity comes online and competition intensifies?


































