Aegis Vopak Terminals Limited , a key player in the Indian terminal and storage industry, has announced significant updates to its Non-Convertible Debentures (NCD) issuance along with recent board changes and fundraising initiatives.

Updated NCD Issuance Details

The company's Board of Directors approved a modification in the coupon rate for its NCD issuance on December 26, 2025. This update follows the earlier approval granted on December 04, 2025, for raising funds through NCDs on a private placement basis.

All other terms and conditions mentioned in the earlier disclosure dated December 04, 2025, remain unchanged. The modification reflects the company's response to market conditions and investor requirements.

Board Composition Changes

The company has made strategic changes to its board composition with the appointment of Mr. Wimal Roy Shylindra Kumar Samlal as Additional Non-Executive Non-Independent Director, effective October 16, 2025. Mr. Samlal brings over 28 years of financial sector experience and currently serves as senior vice president – Finance, Asia and Middle East at Vopak Asia Pte Ltd, Singapore.

Simultaneously, Mr. Deepak Gajanan Dalvi resigned from his position as Non-Executive Non-Independent Director, citing pre-occupation as the reason for departure.

Previous NCD Framework

The company had earlier approved a separate NCD issuance of up to Rs 660.00 crore with different terms, including a 6.92% interest rate, quarterly interest payments, and 3-year maturity. That issuance featured first ranking charge on tangible moveable fixed assets at Mangalore Port and included put and call options exercisable 12 months from allotment.

These corporate actions demonstrate Aegis Vopak Terminals' commitment to strengthening its financial position and governance structure. The updated coupon rate for the larger NCD issuance indicates the company's adaptation to prevailing market conditions while maintaining its fundraising objectives.

Aegis Vopak Terminals Limited (AVTL), India's largest independent owner and operator of tank storage terminals for LPG and liquid products, has reported a robust financial performance for Q2, along with significant strategic developments that underscore its ambitious growth trajectory.

Financial Highlights

AVTL demonstrated strong financial growth in Q2:

The company's liquid terminalling revenue increased by 28.3% year-on-year to ₹106.00 crore, while gas terminalling revenue grew by 23.7% to ₹81.50 crore. The gas throughput for the quarter reached 0.68 million metric tons, up from 0.52 million metric tons in the previous quarter.

Strategic Expansions and Acquisitions

AVTL announced several strategic initiatives to strengthen its market position:

1. Acquisition of Hindustan Aegis LPG Limited (HALPG): AVTL plans to acquire a 75% stake in HALPG, subject to shareholder approval. This acquisition will add 25,000 metric tons of LPG capacity at Haldia, marking AVTL's entry into the East Coast market.

2. Expansion at JNPA Port: The company is progressing with its ₹1,675.00 crore expansion project at JNPA, which includes adding 318,100 cubic meters of liquid capacity and 77,286 metric tons of LPG storage.

3. New Developments at Kandla Port: AVTL is developing a new liquid terminal with 94,148 cubic meters capacity at Kandla Port. The company has also signed a non-binding MoU with Larsen & Toubro to set up Ammonia Terminals.

4. Capacity Additions at Other Ports: The company plans to add 60,000 cubic meters of capacity each at Kochi and Mangalore ports.

5. Vadhavan Port Investment: AVTL has signed a non-binding MoU to invest approximately ₹20,000.00 crores in the upcoming Vadhavan Port.

Operational Updates

• The new LPG terminals at Pipavav and Mangalore are now fully operational and contributing to revenues.
• AVTL expects significant volume boosts once the Kandla-Gorakhpur Pipeline (KGPL) and Jamnagar-Loni Pipeline (JLPL) become operational.
• The company is gearing up for the commencement of Very Large Gas Carrier (VLGC) berthing at Kandla, which will allow handling of larger cargoes efficiently.

Future Outlook

Raj Chandaria, Chairman & Managing Director of AVTL, expressed confidence in the company's growth strategy: "With a strong balance sheet, expanding asset base, and growing demand for LPG, Ammonia, and Liquids, we are well-placed to deliver consistent growth and strengthen our leadership in India's energy logistics sector."

AVTL aims to achieve a cumulative capital expenditure of USD 1.20 billion by next year and targets an aggregate CAPEX of around USD 5.00 billion by 2030. The company plans to expand its presence from the current 6 ports to potentially 8-12 ports by 2030, significantly increasing its liquid and gas storage capacities.

As AVTL continues to execute its strategic roadmap, investors can anticipate sustained growth and value creation in the coming years, solidifying the company's position as a key player in India's rapidly expanding energy logistics ecosystem.