Aegis Vopak Terminals (AEGISVOPAK) Q4 25/26 earnings summary

Executive summary

• FY26, the first full year since listing, saw revenue, throughput and profitability advance; expansion and diversification remain central to the growth strategy.

• Since the JV formed in November 2021, liquid storage capacity grew 3.75x and LPG static capacity 4.5x; the planned CapEx pipeline is ~$5B by 2030.

Financial highlights

• FY26 consolidated revenue was ₹92,307.82 lakh, up 17.0% YoY, and net profit was ₹34,192.13 lakh, up 52.1%.

• FY26 EBITDA rose 19.4% to ₹6,864.5mn; EBIT increased 12.5% to ₹5,161.8mn, PBT rose 53.2% to ₹4,064.6mn and finance cost declined to ₹1,097.3mn.

• Q4 FY26 revenue was ₹24,345.17 lakh, up 22.2% YoY; EBITDA was ₹1,791.7mn, up 24.2%, and net profit was ₹7,387.37 lakh, up 15.3%.

• FY26 net cash from operating activities was ₹70,196.37 lakh; investing outflow was ₹307,742.98 lakh and financing inflow was ₹195,645.68 lakh, leaving cash of ₹30,227.89 lakh.

Segment performance

• FY26 liquid terminaling revenue was ₹44,047.40 lakh, up 27.8% YoY; gas terminaling revenue was ₹48,260.42 lakh, up 8.6%.

• Q4 FY26 liquid revenue rose 31.0% YoY to ₹1,210.7mn; gas revenue rose 14.6% to ₹1,223.8mn.

• FY26 revenue mix was 52.3% liquid and 47.7% gas; gas throughput was 3.9mn MT for FY26 and 1.0mn MT for Q4.

• Management cited ₹3,000 per CBM as a strong blended liquid-terminal earnings level; capacity earnings matter more than physical tank occupancy.