Aegis Vopak Terminals Limited (AVTL), India's largest third-party owner and operator of tank storage terminals for LPG and liquid products, has reported a 4.5% sequential increase in revenue to INR164.00 crores. The company has also significantly expanded its LPG storage capacity with the addition of two new cryogenic terminals.

Financial Performance

AVTL's operating EBITDA rose by 3.1% sequentially to INR119.90 crores. The company saw a substantial 85.1% year-on-year growth in profit, reaching INR47.70 crores. This growth was partly driven by a 37% reduction in interest costs, following the repayment of bank borrowings using IPO proceeds.

Expansion of LPG Storage Capacity

The company has successfully commissioned two new cryogenic LPG storage terminals:

1. A terminal at New Mangalore Port with 82,000 metric tons of static capacity
2. A terminal at Pipavav Port with 48,000 metric tons of static capacity

These additions have increased AVTL's total LPG storage capacity from 70,800 metric tons to 200,800 metric tons.

Future Growth Plans

AVTL's board has approved a capital expenditure of INR1,675.00 crores for setting up new terminals at Jawaharlal Nehru Port Authority (JNPA). This expansion will include facilities for liquids, LPG, and an LPG bottling plant.

The company has also signed a non-binding memorandum of understanding with Larsen & Toubro to set up ammonia terminals at Kandla port for upcoming green ammonia manufacturing facilities.

Strategic Outlook

Raj Chandaria, Chairman and Managing Director of AVTL, stated, "We are targeting to reach a $5 billion aggregate capital expenditure by 2030, which would be funded by a mix of equity, internal accruals, and prudent utilization of debt."

The company plans to explore new products, new ports, and associated infrastructure to achieve this target. AVTL is also considering inorganic growth opportunities and investments in related infrastructure to improve efficiency and make its business model more resilient.

With its recent expansions and strategic plans, Aegis Vopak Terminals Limited is positioning itself for significant growth in the coming years, aiming to capitalize on India's evolving energy needs and infrastructure development.

Aegis Vopak Terminals Limited , a joint venture between Aegis Logistics Ltd and Royal Vopak, has reported full utilization of its Initial Public Offering (IPO) proceeds and strong financial results for the first quarter ended June 30, 2025.

IPO Proceeds Utilization

The company successfully deployed ₹2,711.42 crore out of its total ₹2,800 crore IPO proceeds during the quarter. The funds were utilized as follows:

• ₹2,015.95 crore for repayment of outstanding borrowings to HDFC Bank and DBS
• ₹671.30 crore for capital expenditure towards the contracted acquisition of a cryogenic LPG terminal at Mangalore
• ₹24.17 crore for issue-related expenses

The monitoring agency, CARE Ratings Limited, reported no deviations from the stated IPO objectives. The remaining ₹88.58 crore is held in monitoring and public issue accounts.

Q1 Financial Highlights

For the quarter ended June 30, 2025, Aegis Vopak Terminals reported robust financial performance:

The company's performance showed significant improvement across all key financial metrics compared to the same quarter last year.

Segment Performance

Aegis Vopak Terminals operates in two segments:

1. Liquid Terminal Division: Reported revenue of ₹96.86 crore
2. Gas Terminal Division: Contributed ₹67.15 crore to the total revenue

Both segments demonstrated strong results, with the Liquid Terminal Division showing notable growth.

Board Approvals and Future Plans

The Board of Directors, in their meeting on August 7, 2025, approved several key initiatives:

1. A capital expenditure proposal of ₹1,675 crore for developing a Greenfield Terminal at Jawaharlal Nehru Port (JNPA). This project includes:

   • 77,286 MT LPG storage
   • 318,100 cbm Liquid Products storage
   • LPG Bottling Plant with a capacity of 35,000 MT per annum

2. Amendments to the Articles of Association, granting special rights to joint venture shareholders Aegis Logistics Limited and Vopak India B.V. for nominating directors on the Board.

3. Exclusive right for Aegis to appoint the Chairperson of the Board.

These approvals are subject to necessary regulatory and shareholder approvals.

Management Commentary

Raj K. Chandaria, Chairman & Managing Director, commented on the results, stating, "Our strong first-quarter performance reflects the successful utilization of IPO proceeds and the robust demand in both our Liquid and Gas Terminal divisions. The approved capex for the Greenfield Terminal at JNPA demonstrates our commitment to long-term growth and strengthening our market position."

Aegis Vopak Terminals Limited continues to focus on its core business of providing storage and terminalling facilities for Liquefied Petroleum Gas (LPG) and liquid products, positioning itself for sustained growth in the coming quarters.