- Total revenues in Q2 FY18 were Rs. 1,241 crores versus Rs. 677 crores year earlier, that is a rise of 83%.
- Total segment EBITDA for the quarter was Rs. 76.87 crores versus Rs. 55.74 crores year earlier,that is a rise of 38%.
- Profit before tax was Rs59.52 crores vs 39.4 crores earlier , that is a rise of 59%.
- Profit after tax was Rs. 55.96 versus Rs. 27.52 crores a year earlier, that is a growth of 103%.
- Profit after tax after minority interest wasRs. 52.06 crores versus Rs. 24.96 crores year earlier, that is a 109% increase year-on-year.
Liquid terminal division
- Revenues for Q2 FY18 were Rs. 40.79 crores versus Rs. 37.12 crores year earlier, that is a rise of 10%.
- EBITDA was Rs. 26.29 crores versus 21.19 crores, a year earlier that is a rise of 24%.
- The main reason for this healthy rise is particularly Haldia terminal in Bengal
Gas terminal division
- Revenues for the quarter wereRs.1,200 crores versus Rs 639 crores year earlier, that is arise ofvrores
- The EBITDA for the quarter wasRs. 50.58 crores versus Rs 34.55 crores year earlier a big jump of 46% in the gas terminal EBITDA.
LPG Volumes analysis
- The LPG throughput volume handled in Q2FY18in all our terminals were 441,532 metric tonnes versus 252,254 metric tonne year earlier, a truly stunning rise of 75% year-on-year.
- This has been one of the main factors driving Q2 FY18 earnings.
- The Mumbai and Pipavav we therefore has record volumes
- Haldia LPG volumes will start appearing from Q3 FY 2018
- The sourcing volumes for the gas are also up in a stunning number, Q2 FY18 was 352,902 metric tonnes versus 203,649 tonnes a year earlier showing a growth of 73% in sourcing volumes for LPG
- Packed LPG cylinders sold 3,342 metric tonnes versus 3,345 metric tonneser
- Bulk industrial sales were 7,754 metric tonnes versus 5,674 metric tonnes year earlier, a rise of 37%
- Auto gas sales for the quarter was 6,344 metric tonnes versus 5,664 metric tonnes year earlier that is a rise of 12%.
- 107 auto gas stations operational.
- Liquid terminal is still around 20% to 21% capacity utilization
- With Kandla project coming up, we would be focusing on in Gujarat- shipping lines
- The company contines to work with Gujarat Piparav port on the railway gantry, etc
- In future, the company plans to bring petroleum by rail, but this is not completely resolved
- Bigger revenues expected in liquid terminal division in Q4FY18 as new Kandla liquid terminal with capacity of 100,000 kilo liters will start.
- Haldia, with extra capacity of 35,000 kiloliters, is expected to start contributing by Q1FY19 to revenues and earnings
- BPCL has already started bringing cargos
- In gas division, completed the additional 10,200 metric tonnes of expansion in Piparav
- Greater revenues and earnings from LPG expected because of Pipavav expansion and Haldia expansion.
- The company continues to work on completing necklace of terminals in the next three years by FY2021
- For Haldia LPG terminal, the demand would be more than expected levels
- Piparav- 10,200 metric tonne expansion, which could increase the LPG throughput by 800,00 tonnes
- The company continues to work aggressively on completing the necklace of terminals.
- Two more projects coming up after the Haldia project. One has reached the negotiation stage, the other one is still in initial stage
- One is in West Coat of India
- 100,000 kiloliters liquid terminals in Kandla coming up
- Haldia 25,000 kiloliters
- Expansion still going on in Mangalore
- Imports is expected to increase from 11 mllion tonnes last year to 20 million tonnes in 2035
- Domestic supply will also increase, but slower than the domestic supply
- Aegis would cater to the increasing demand, and would try to fill the gap covered by imports
- Ramping up occurring in Haldia and Piparav, and better results are expected in next quarters
Updates on pipelines
Uran Chakran pipeline
- The company has completed its part in December 2016
- The company is waiting for HPCL to complete its part, expected by March 2018
- After that, the company can start moving LPG at the HPCL request through that very large pipeline.
- IOCL started the work there
Updates on tenders
- No new updates
- In 2017, the company has beaten the forecasts- the LPG demand is higher
Non-cash tax write-back
- Benefit for only the FY 2018
- Next year, will return to the P&L basis
Change of auditors
- No specific reason; Company norm
- There are LPG traders, whoever is on the list registered with IOC, HPCL, BPCL
- Joint venture company with the Japanese called Aegis Group International from Singapore,make Aegis competitive
- Normal international LPG traders who are the company’s competitors
Updated on Dividend
- Company is planning to provide soon- interim dividend plus final dividend
- Deal almost completed
Effect of price changes
- The company charges the service fees from the oil companies, on the basis of amount per tonne figure
- It depends on the type of customer- range of 800-1000 Rs per tonne
- It does not get affected by the change in prices by the oil companies
Updates on Reliance
- Reliance may be considering changing its input feedstock- status quo
Updates on Gujarat Piparav port
- APM Terminals group may be considering divesting their stake in Gujarat Piparav port- No such plans at present
- If it happens, it will have no impact on the business of Aegis