Aegis Logistics Limited
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BSE Code:
500003
NSE Code:
AEGISLOG
Business Profile
Business Profile
Aegis Logistics was incorporated in the year 1956. It commenced business as a chemical manufacturer in 1967. It was formerly known as Atul Drug House. The company ventured into the logistic business in 1996-97 and hived off their chemical manufacturing unit in the year 2005.
Currently, the company provides quality logistic facility at the Mumbai Port with storage facility at this location for liquid and gas. The company has 21 acres of land at Mumbai Port trust having 35 tanks for liquid storage and 2 tanks for gas storage (owned by subsidiary). Broadly, the company has two business segments, namely, logistics and gas trading. For the logistics business, the company receives storage charges from the importers who use tanks of the company for storing cargo from vessel and loading back to tankers or vessels.
The company also charges its customer for using various other facilities like jetty operations, unloading and loading. The promoters of the company have 70% stake in Hindustan Aegis LPG. The latter has constructed 2 gas tanks on the existing premises of Aegis Logistics and has an arrangement for usage of land and usage of tanks.
It has recently ventured into a new segment of business of autogas retailing and has 3 autogas stations. The stations are operated under the brand name of `Aegis Autogas` by a franchisee. The company also undertakes imports of LPG from Saudi Arabia and the same is marketed in India to its industrial customers.
The company has acquired 75% in Sealord Container in June 2006. It started construction of 10 tanks with total storing capacities of 75,000 kiloliters to store liquid at an estimated cost of Rs 750 million. The terminals are expected to start operations by October 2007 and it will increase its capacities by 45%.
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Financials
Aegis Logistics, disclosed a substantial jump in net profit for the quarter ended June 2007. During the quarter, the company experienced 47.99% rise in profit to Rs 73.70 million from Rs 49.80 million in the corresponding quarter, last year.
Net sales for the June 2007 quarter rose 65.05%, to Rs 770.60 million compared with the corresponding quarter, a year ago.
Operating margins decreased to 12.94% during the quarter, a fall of 51.24 basis points compared with the corresponding quarter, a year ago.
Net margins fell to 9.50% during the period in comparison from 10.47%.
The company?s earnings per share on a trailing twelve month basis stood at Rs 15.94.
At the closing price of Rs 144.45 on Friday at the BSE, the company?s shares were valued at 9.06 times its earnings on a trailing twelve month basis.
Recent Developments
05-NOV-07
Aegis Logistics, a leader in oil and gas logistics, stepped into auto liquefied petroleum gas (LPG) business, and is in the process of setting up 300 stations. These will be set up over 2-3 years in Maharashtra, Gujarat, Goa, Karnataka, Rajasthan, Andhra Pradesh, Madhya Pradesh and Tamil Nadu.
13-AUG-07
Aegis Logistics said that the company has been allotted a plot of land by Calcutta Port Trust at Haldia Port. The land is proposed to be used for future expansion in liquid logistics business. Aegis Logistics said that the board of directors of the company, at its meeting held on August 10, 2007, approved the draft scheme of arrangement between Hindustan Aegis LPG (HALPG) and the company whereby the throughput activity undertaking of HALPG shall be demerged to and vested in the company w.e.f. appointed date Apr. 1, 2007 subject to requisite approvals.
Future Plans
The company plans to set up mounded tanks. This will further increase its gas storing capacities of more than 2,000 tons (propylene, propane or LPG autogas) at an estimated cost of Rs 300 million.