Aegis Vopak Terminals (AEGISVOPAK) Q3 25/26 earnings summary

Executive summary

• 9M FY26 revenue rose 18.3% YoY to ₹549.13 crore, operating EBITDA increased 18.1% to ₹403.25 crore and PAT grew 90.0% to ₹163.16 crore.

• Q3 FY26 revenue rose 22.3% YoY to ₹197.49 crore, operating EBITDA increased 23.0% to ₹145.90 crore and PAT grew 62.7% to ₹61.51 crore.

• Liquid terminals led segment improvement; capacity additions, the HALPG acquisition and new LPG infrastructure broadened the growth platform.

Financial highlights

• Q3 FY26 PBT rose 75.4% YoY to ₹79.10 crore; 9M FY26 PBT increased 86.8% to ₹212.91 crore.

• Q3 FY26 other income was ₹136.07 crore versus ₹94.60 crore YoY, while finance cost fell to ₹67.98 crore from ₹144.77 crore.

• Q3 basic and diluted EPS were ₹0.56 each; 9M basic and diluted EPS were ₹1.51 each.

Outlook and guidance

• Q4 LPG volumes, revenue and EBITDA are expected to step up as utilization matures; throughput is expected to exceed 1 million metric tons.

• Liquid capacity is expected to reach at least 2.5 million m³ by FY27-end, from 1.7 million m³, as port expansions progress.

• The 36,000-MT ammonia terminal is targeted for completion by Q1 FY27; the Pipavav petroleum-products agreement is expected to begin around October 2026.

• JLPL is expected by February-end and KGPL by June 2026 at the latest; full pipeline utilization could take 2–3 years.