Aegis Logistics & Aegis Vopak Terminals Limited announced robust financial results for the first half of FY27, with revenues reaching INR4,570 crore and EBITDA growing to INR1,184 crore. Profit after tax more than doubled to INR866 crore. The company also revealed a landmark agreement to acquire an 89.8% stake in Tristar Holdings Limited for US$809 million, a move expected to significantly expand its global footprint.
Aegis Logistics Reports Strong Financial Performance for H1 FY27
Aegis Logistics & Aegis Vopak Terminals Limited has posted a strong performance for the first half of the financial year 2027 (H1 FY27), concluding on November 3, 2026. The company reported a revenue of INR4,570 crore, marking substantial growth compared to the previous year. The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) reached INR1,184 crore, a significant increase that underscores the company’s operational efficiency and market capabilities. Profit after tax saw a more than twofold increase, reaching INR866 crore, up from INR417 crore in H1 FY26. Earnings per share also surged to INR21.23, a 140% year-on-year growth.
Q2 FY27 Highlights Show Continued Momentum
In the second quarter of FY27 (Q2 FY27), Aegis Logistics delivered a revenue of INR2,213 crore. The segment EBITDA grew by 32% year-on-year to INR456 crore, with profit after tax also increasing by 32% to INR321 crore. Earnings per share for the quarter stood at INR7.42, up 45% year-on-year. The Liquid Division recorded its highest performance ever, with revenues of INR366 crore and EBITDA of INR284 crore, a margin of 78%. The Gas Division also showed exceptional performance, contributing to the highest-ever H1 EBITDA of INR900 crore.
Strategic Acquisition of Tristar Holdings Limited
A significant development announced is the definitive agreement signed on October 13, 2026, to acquire an 89.8% stake in Tristar Holdings Limited for a consideration of US$809 million. Tristar is an integrated energy logistics company headquartered in Dubai with global operations. This acquisition is described as a transformational step, aiming to evolve Aegis Logistics from a predominantly India-focused business to a global integrated energy logistics platform. The transaction is expected to be completed in Q4 of FY27, subject to regulatory approvals. It is anticipated to enhance the company’s scale, geographic diversification, and earnings potential through significant operational and commercial synergies.
Port-by-Port Progress and Expansion
The company provided updates on its Aegis Vopak Terminals (AVTL) operations. For Q2 FY27, AVTL reported revenues of INR271 crore, up 17% year-on-year, and EBITDA of INR212 crore, up 22%. For H1 FY27, revenue rose 15% to INR505 crore, with EBITDA up 19% to INR392 crore. Progress on port expansions was detailed, including the development of liquid storage at Mumbai, commissioning of an LPG bottling plant at JNPT, and significant greenfield expansion at JNPT comprising additional liquid and LPG storage. The company also highlighted advancements in Kandla, Pipavav, and Kochi, including a new VLGC-compliant jetty at Pipavav and the commissioning of an ammonia terminal.
Future Outlook and Financial Health
Looking ahead, Aegis Logistics expressed confidence in its growth trajectory, supported by ongoing capacity expansions and the strategic Tristar acquisition. The company emphasized its robust financial position, with available cash reserves of INR6,400 crore, sufficient to fund the Tristar acquisition without excessive debt. For Aegis Vopak, future capex of approximately $5 billion through 2030-31 will be funded through a balanced mix of equity, internal accruals, and debt, targeting a conservative gearing of no more than 0.6x.
Source: BSE
