- Aegis Logistics Limited is India’s leading Oil, Gas and Chemical logistics company.
- During Q4 FY17, consolidated net profit stood at Rs. 297.70 mn as against Rs. 315.40 mn in Q4 FY16.
- Consolidated revenue for the quarter rose by 190.13% and stood at Rs. 12677.80 mn as against Rs. 4369.70 mn, when compared with the prior year period.
- During Q4 FY17, consolidated EBIDTA is Rs. 533.60 mn as against Rs.528.40 mn in Q4 FY16, grew by 0.98%.
- During Q4 FY17, consolidated PBT increased by 2.10% to Rs. 433.20 mn from Rs. 424.30 mn in Q4 FY16.
- EPS of the company stood at Rs. 0.89 a share during the quarter, as against Rs. 0.94 per share over previous year period.
- The company has announced the Brownfield expansion of 10,200 MT at its LPG Terminal in Pipavav.
- The company has recommended Final dividend 35 % i.e. Rs. 0.35 per share (face value of Rs. 1 each) for the financial year ended March 31, 2017.
- During FY17, Net sales of the company increased to Rs. 39328.10 mn from Rs. 22132.20 mn in FY16, up by 77.70%.
- During FY17 net profit increased by 6.11% to 1202.60 mn from Rs. 1133.30 mn in FY16.
- Net sales and PAT of the Company are expected to grow at a CAGR of 9% and 12% over 2016 to 2019E, respectively.
OUTLOOK AND CONCLUSION
- At the current market price of Rs. 189.00, the stock P/E ratio is at 45.74 x FY18E and 39.15 x FY19E respectively.
- Earning per share (EPS) of the company for the earnings for FY18E and FY19E is seen at Rs. 4.13 and Rs. 4.83 respectively.
- Net sales and PAT of the Company are expected to grow at a CAGR of 9% and 12% over 2016 to 2019E respectively.
- On the basis of EV/EBITDA, the stock trades at 27.69 x for FY18E and 24.40 x for FY19E.
- Price to Book Value of the stock is expected to be at 8.53 x and 7.00 x for FY18E and FY19E respectively.
- Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.
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About Firstcall India Equity
Firstcall India Equity of Firstcall India Equity Advisors Pvt. Limited (FIEA), is a leading financial services provider in India and a SEBI Registered Category-I Merchant Banker. FIEA is a culmination of a credible Equity Research Capabilities, Long Standing Relationship with leading FIIs, DFIs, MFs, Overseas Pension Funds etc. The company’s research caters to the needs of the largest news wire and media houses of the world namely Reuters, Thomson, Capital IQ, Themarkets.com, Emerging Markets Euro money Publications-UK. The Company is among the major players in the Debt and Equity markets.
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