Aegis Vopak Terminals Limited stands as India's largest third-party owner and operator of tank storage terminals for LPG and liquid products. The company represents a strategic joint venture between Aegis Logistics Limited and Royal Vopak, a global leader with over 400 years of legacy and 77 terminals across 23 countries. Incorporated in 2013, Aegis Vopak Terminals Limited (AVTL) is a company that owns and operates storage terminals for liquefied petroleum gas (LPG) and various liquid products.
The company provides safe storage and related infrastructure for products like petroleum, vegetable oils, lubricants, chemicals, and gases such as propane and butane. The company operates through two main divisions: Gas Terminal Division – focuses on storing and handling LPG, including propane and butane, and Liquid Terminal Division – handles storage for liquid products like petroleum, chemicals, and vegetable oils.
The company's impressive infrastructure includes total storage capacity of around 1.50 million cubic meters for liquid products and 70,800 metric tons (MT) for LPG as of June 30, 2024. The company operates two LPG storage terminals and 16 liquid storage terminals located across five major ports in India. These terminals are strategically positioned across five major ports, Haldia, Kochi, Mangalore, Pipavav, and Kandla.
Aegis Vopak Terminals holds a significant position in India's energy storage sector. The company contributes 11.50% of India's total LPG static capacity and 25.53% of third-party liquid storage capacity. The company's extensive handling capabilities are demonstrated by managing over 30 types of chemicals and more than 10 types of edible and non-edible oils. The company's Terminals handle 23% of India's liquid imports and 61% of total LPG import volumes.
The company's financial journey has been marked by significant improvements. The company reported revenue of ₹570.12 crores in 2024 against ₹355.99 crore in 2023, and profit of ₹86.54 crores in 2024 against loss of ₹0.08 crores in 2023. The revenue for the 9th month period ended December 2024 is ₹4,761.49 million. The company's profitability has shown remarkable improvement as The profit after tax (PAT) increased from – ₹0.7 million in March 2023 to ₹865.44 million in March 2024, with the profit for the period ending December 2024 being ₹858.91 million.
Key Financial Metrics:
- Market Cap: ₹26041.12 Cr as of 17th June 2025
- Revenue: 621 Cr
- Profit: 127 Cr
- EPS (TTM): 1.34
- P/E Ratio: 300.88
- P/B Ratio: 26.12
- ROE: 8.68%
- ROCE: 8.39%
The company has been actively expanding its operations through strategic acquisitions. Acquisition of 82,000 MT LPG terminal at Mangalore for INR 671.3 Cr funded by IPO proceeds. Additional acquisitions include CRL subsidiary acquires Kandla storage terminal assets from promoter ALL for INR 49.5 Cr and Acquisition of ammonia storage terminal at Pipavav Port for INR 157.5 crore from promoter Aegis Logistics.
The shares got listed on BSE, NSE on June 2, 2025. Aegis Vopak Terminals IPO, with a price band of ₹223 to ₹235 per share, was exclusively a fresh issue of equity shares aggregating to ₹2,800 crore without an offer-for-sale (OFS) component. Aegis Vopak Terminals IPO raises ₹1,260.00 crore from anchor investors. The company's IPO proceeds are earmarked for repaying or prepaying the company's existing loans, capital investment particularly for the planned purchase of the cryogenic LPG terminal located in Mangalore, and general corporate needs.
The company operates in a sector with promising growth prospects. India's LPG consumption reached 30 million metric tons (MMT) in 2024, growing at a CAGR of 6.5% over the past five years. The demand for liquid bulk storage, including petroleum and chemicals, is expected to grow by 8% annually, driven by industrial expansion. The Indian government aims to reduce carbon emissions by 45% by 2030, increasing demand for cleaner fuels like LPG.
Promoter holding in Aegis Vopak Terminals Ltd has gone down to 86.94 per cent as of May 2025 from 97.41 per cent as of Nov 2024. This reduction in promoter holding is primarily due to the fresh issue of shares through the IPO, which diluted the existing shareholding structure.
India Ratings upgrades Aegis Vopak's bank facilities outlook to Positive, affirms IND AA rating. However, the company shows some areas of concern as Company has low interest coverage ratio and The debt-to-equity ratio stands at 2.59, suggesting a relatively high reliance on borrowed funds. Latest net debt of Aegis Vopak Terminal is ₹1,892 Crs as of Mar-25.
The company's stock performance shows 52-week high of ₹268.50 and the 52-week low is ₹220. The current dividend yield of Aegis Vopak Terminals Ltd (AEGISVOPAK) is 0.11.
Aegis Vopak Terminals Limited represents a significant player in India's energy infrastructure sector, with strong market positioning and growth prospects aligned with the country's expanding energy needs and environmental objectives.
