reports
Aegis Logistics: 2 directors
Two Directors at Aegis Logistics bought 13,050 shares at between 231.800INR and 232.250INR. The significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over ...
- Swarnendu Bhushan
MOSL: AEGIS LOGISTICS (Neutral)-Recovery in Gas business delayed by th...
AEGIS LOGISTICS: Recovery in Gas business delayed by the second wave of COVID (AGIS IN, Mkt Cap USD1.5b, CMP INR320, TP INR365, 14% Upside, Neutral) AGIS reported earnings in line with our estimates, as robust performance in the Liquids division continues to countervail the subdued Gas business. The Gas business was affected by the second wave of COVID-led lockdowns, with clogged ports impacting throughput volumes, while demand for Auto LPG and Cylinders (from Hotels/Restaurants) were lo...
- Swarnendu Bhushan
MOSL: AEGIS LOGISTICS (Downgrade to Neutral)-Focus has shifted away fr...
AEGIS LOGISTICS: Focus has shifted away from LPG Logistics; Downgrade to Neutral (AGIS IN, Mkt Cap USD1.6b, CMP INR343, TP INR375, 9% Upside, Downgrade to Neutral) AGIS has established a JV – Aegis Vopak Terminals (AVTL). Both LPG and liquid storage terminals at Kandla and Pipavav, and liquid storage terminals at Mangalore, Kochi, and Haldia have been brought under AVTL. AGIS will hold 51% stake in AVTL, with the balance held by Vopak. AVTL will also hold the existing 250,000kl liquid ter...
- Swarnendu Bhushan
MOSL: AEGIS LOGISTICS (Buy)-Liquid utilization rises; Gas logistics to...
Aegis Logistics: Liquid utilization rises; Gas logistics to hit highs (AGIS IN, Mkt Cap USD1b, CMP INR206, TP INR245, 19% Upside, Buy) 3QFY20 revenues were 13% higher than est. at INR21.7b (+64% YoY), led by boost in gas business revenues (LPG logistics volumes up 68% YoY and 28% QoQ). According to management, AGIS is expected to see gas throughput jump ~2.0mmtpa over the next two years (on base of 2.5mmtpa in FY19). We remain positive on the company’s gas division and reiterate. Pr...
- Swarnendu Bhushan
MOSL: AEGIS LOGISTICS (Buy)-Gas logistics – Next leg of profitabilit...
AEGIS LOGISTICS: Gas logistics – Next leg of profitability (AGIS IN, Mkt Cap USD0.9b, CMP INR189, TP INR247, 31% Upside, Buy) We met the management of Aegis Logistics (AGIS IN) to understand the company’s growth plans. According to management, AGIS is expected to see gas throughput jump ~1.6-2.3mmtpa over the next two years (on base of 2.5mmtpa in FY19). We remain positive on the company’s gas division and reiterate Buy. Key insights highlighted from the meeting: Increasing reliance on L...
- Swarnendu Bhushan
MOSL: AEGIS LOGISTICS (Buy)-Volume growth across
AEGIS LOGISTICS: Volume growth across (AGIS IN, Mkt Cap USD0.8b, CMP INR175, TP INR243, 39% Upside, Buy) 2QFY20 revenue came in 10% lower than est. at INR18.2b (+27% YoY), led by 10% lower-than-expected gas business revenue. Company has issued ESOPs of INR1.5b, which led to EBITDA loss of INR0.3b (v/s gain of INR0.9b in 2QFY19). Adjusting for the ESOPs, EBITDA was higher than est. by 10% at INR1.2b. Company has also taken INR20m provision on commission to managing directors (totaling IN...
- Swarnendu Bhushan
MOSL: AEGIS LOGISTICS (Buy)-EBITDA hurt by lower logistics volumes-Dis...
AEGIS LOGISTICS: EBITDA hurt by lower logistics volumes; Distribution strength comforting (AGIS IN, Mkt Cap USD0.9b, CMP INR187, TP INR255, 37% Upside, Buy) AGIS reported 1QFY20 results based on Ind-AS 116 accounting standards. Reported revenue was in line with our estimate at INR19.5b (+92% YoY). However, EBITDA of INR1.0b missed our estimate by 18% due to the absence of logistics volumes of ~75kmt at Haldia. AGIS took a provision (commission to directors) of INR20m in other expenses dur...
- Swarnendu Bhushan
MOSL: AEGIS LOGISTICS (Buy)-Key beneficiary of increasing LPG penetrat...
Aegis Logistics: Key beneficiary of increasing LPG penetration in India (AGIS IN, Mkt Cap USD1b, CMP INR200, TP INR262, 31% Upside, Buy) Aegis Logistics (AGIS IN) is a key beneficiary of the government’s thrust on increasing penetration of LPG in India. We recently met AGIS’ management; key highlights from the meeting: Beneficiary of LPG import growth LPG demand in India is expected to increase from ~23mmt in FY19 to ~40mmt in FY35 (a conservative estimate) due to (a) increased LPG p...
- Swarnendu Bhushan
MOSL: AEGIS LOGISTICS (Buy)-Haldia LPG terminal ramp-up on track
Aegis Logistics: Haldia LPG terminal ramp-up on track (AGIS IN, Mkt Cap USD1.1b, CMP INR230, TP INR280, 21% Upside, Buy) AGIS’ sales increased 48% YoY to INR18.5b in 4QFY19, exceeding our estimate by ~42%, primarily due to higher LPG sourcing (not a high-margin business). Despite higher sales, EBITDA of INR1b (+48% YoY) came in ~7% below our estimate due to higher cost. PAT increased 28% YoY to INR0.6b (our estimate: INR0.7b), primarily driven by a rise in Gas division volumes. For FY19,...
- Swarnendu Bhushan
MOSL: AEGIS LOGISTICS (Buy)-Strong volume growth, PAT in line with exp...
Aegis Logistics: Strong volume growth, PAT in line with expectations (AGIS IN, Mkt Cap USD0.9b, CMP INR199, TP INR277, 39% Upside, Buy) Return ratios to improve AGIS’ EBITDA increased 29% YoY (+4% QoQ) to INR926m, below our estimate of INR1,015m due to weak performance of the Gas division. PAT increased 10% YoY (+21% QoQ) to INR591m, in line with our estimate of INR587m. Liquid division EBITDA increased 2% YoY (+19 % QoQ) to INR250m in 3QFY19. Profitability increased due to higher throu...
MOSL: AEGIS LOGISTICS (Buy)-EBITDA marginally below estimate; Haldia r...
Aegis Logistics: EBITDA marginally below estimate; Haldia ramp-up on track (AGIS IN, Mkt Cap USD1.1b, CMP INR235, TP INR311, 32% Upside, Buy) AGIS' 1QFY19 reported EBITDA of INR864m (+53% YoY, +24% QoQ) was marginally below our estimate of INR910m, led by a weak performance of the liquid terminal division. PAT increased 17% YoY (+7% QoQ) to INR516m, lower than our estimate of INR564m due to higher interest cost of INR65m (est. of INR36m; +94% YoY, +83% QoQ) and higher-than-expected minori...
MOSL: AEGIS LOGISTICS (INITIATING COVERAGE): The Giant Kelp-Attractive...
Aegis Logistics (initiating coverage): The Giant Kelp; Attractive play on India’s rising LPG consumption; initiating coverage with Buy (AGIS IN, Mkt Cap USD1.2b, CMP INR229, TP INR303, 32% Upside, Buy) Aegis Logistics (AGIS) is India’s leading oil, gas and chemical logistics company. It primarily operates under two businesses: Gas and Liquids. The company operates three gas terminals and six liquid terminals across the country. It is engaged in the handling of oil & LPG products, as well as...
Aegis Logistics Ltd (AEGISCHEM) - Oil & Gas - Deals and Alliances Prof...
Summary Aegis Logistics Ltd (Aegis) is a logistic company that provides oil, gas, and chemical logistics services. The company's services include engineering, procurement, and construction services, liquid logistics, gas logistics, gas supply and marine services. It also provides liquefied petroleum gas terminals, bulk liquid handling terminals, pipelines, filling plants, and gas stations. Aegis offers solutions for operating an existing oil and gas storage installation, operating the facilitie...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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