AEGISLOG
Small CapAegis Logistics Limited
Services
Aegis Logistics Ltd. provides integrated logistics for bulk liquids and gases in India. It operates tank terminals, distribution facilities, and offers third-party logistics, gas distribution, sourcing, and EPC services. The company aims to support India's sustainable energy transition through safe and efficient storage and distribution.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Mixed fundamentals, management trust is supportive, price trend is neutral, and recent execution is consistent.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Good · 72/100Rev +52% YoY · PAT +43% YoY · +50% QoQ · margin compression
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹2,594 Cr | +52.1% | +50.4% |
| EBITDA | ₹624 Cr | +52.6% | +110.1% |
| Operating margin | 24.0% | +0 bps | +700 bps |
| PAT | ₹455 Cr | +43.1% | +95.3% |
| PAT margin | 17.5% | -111 bps | +403 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Where growth can come from, and what can break the case
FY26 Normalized EBITDA grew 36% to Rs. 1,599 Cr., with PAT up 41% to Rs. 1,107 Cr. The Gas Division achieved record EBITDA (+68% YoY) and highest-ever logistics & distribution volumes. Q4FY26 saw consolidated EBITDA up 54% YoY, driven by record Q4 Gas Division performance.
Aegis delivered strong FY26 results, primarily driven by exceptional growth in its Gas Division's EBITDA and volumes. While Liquids Division EBITDA declined YoY, it showed sequential improvement in Q4. Ongoing capacity expansions and strategic initiatives like Project GATI position the company for continued growth.
Greenfield Expansion
Part of Project GATI, focusing on new facility development for future growth.
Brownfield Expansion
Enhancing existing infrastructure and capacities under Project GATI.
Mergers & Acquisitions
Pursuing strategic inorganic growth opportunities as part of Project GATI.
New Energy
Exploring opportunities in the new energy sector through Project GATI initiatives.
Mumbai Port Liquids Capacity
Addition of 61,000 KL Liquids Capacity under progress, commissioning expected in H1 FY27.
JNPA Liquids Capacity
First phase of the new liquid capacity at JNPA is expected to be commissioned in H1 FY27.
Pipavav Ammonia Terminal
Upcoming Ammonia Terminal at Pipavav.
India's Energy Transition
Company's vision is to support India’s transition towards a more sustainable future, aligning with national priorities.
Integrated LPG Supply Chain
Strategic port locations, storage terminals, and a comprehensive distribution network provide competitive advantage.
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Full-year YoY comparisons reflect overall business expansion, especially in the Gas Division. Q4 sequential growth in the Liquids Division is important for assessing recent operational momentum and recovery.
FY26 Normalized EBITDA
Rs. 1,599 Cr. (+36% YoY)
FY26 PAT
Rs. 1,107 Cr. (+41% YoY)
FY26 Gas Division EBITDA
Rs. 1,131 Cr. (+68% YoY)
FY26 Gas Distribution Volume
754 '000 MT (+45% YoY)
Vision
To support India’s transition towards a more sustainable future.
Mission
To store and distribute bulk liquids and gases in a safe, sustainable manner.
Strategic Goal
Build, own, and operate India’s leading network of tank terminals and distribution facilities, incorporating highest safety and environmental standards.
Expansion Focus
Rapidly expanding the footprint of LPG products and services across major Indian cities.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Liquids Division EBITDA | Rs. 126 Cr. (Q4FY26) | Sustained sequential growth and YoY recovery in Liquids Division EBITDA. |
| Gas Distribution Volume | 234 '000 MT (Q4FY26) | Continued volume growth and market share gains in Gas Logistics & Distribution. |
| New Capacity Commissioning | Mumbai Port & JNPA liquid capacity in H1 FY27 | Timely execution and utilization ramp-up of new liquid and ammonia capacities. |
| Project GATI Progress | Greenfield, Brownfield, M&A, New Energy initiatives | Concrete updates and progress on Project GATI strategic initiatives. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
56NeutralSMA20 +4.8% / mo
Technical chart
AEGISLOGdaily · 5Y+0.3%Technical trend read
NeutralTrend is undirectional — long-term trend unclear. RSI 65.
- SMA20 rising (~2.6% over last month) — short-term momentum positive.
- RSI(14) at 65 — sideways, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 5% off 52W high · 36% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation, score drivers, trust methodology, financials, and peers
Use these sections after reviewing the decision summary, latest result, thesis, management accountability, and technical timing above.
Fundamental score breakdown
FAIR VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 15.2%.
- Growth contributes 17/25 to the score.
Main drags
- Valuation is weaker at 5/30; verify the latest quarterly trend.
- Quality is weaker at 8/20; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 79th percentile of the scored universe and 85th percentile within Services. No major sub-score weakness stands out.
High Trust Lite: Promoter holding is 58.1%.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · Services: 85th pctile, median 66 · Small: 83rd pctile, median 65
160 documents indexed, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter holding is 58.1%.
- ▸Promoter pledge is zero.
- ▸5 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Intrinsic value
Fundamentals
Valuation
- P/E
- 29.50
- P/B
- 4.37
- EV/EBITDA
- 18.56
- Market Cap
- 26499.00Cr
Profitability
- ROE
- 16.80%
- ROCE
- 13.60%
- ROA
- 7.64%
- Dividend Y
- 0.96%
Growth (CAGR)
- Revenue 5Y
- 17.00%
- EPS 5Y
- 32.00%
- Revenue 3Y
- -1.00%
- EPS 3Y
- 25.00%
Balance Sheet
- Debt/Equity
- 0.69
- Interest Coverage
- 9.95×
- Altman Z
- 3.52
- Book Value
- 173.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 5/5
- OCF
- 558.00 Cr
- EPS TTM
- 25.59
Shareholding
- Promoter Hold
- 58.10%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 49%
Financial History
Updated 9/6/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable peers in Services — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.