investor presentation - revised [company update]
TRANSCRIPT
Th
isp
rese
nta
tio
na
nd
the
acc
om
pa
ny
ing
slid
es
(th
e“P
rese
nta
tio
n”)
,w
hic
hh
ave
be
en
pre
pa
red
by
Ae
gis
Log
isti
csLi
mit
ed
(th
e
“Co
mp
an
y”)
,h
ave
be
en
pre
pa
red
sole
lyfo
rin
form
ati
on
pu
rpo
ses
an
dd
on
ot
con
stit
ute
an
yo
ffe
r,re
com
me
nd
ati
on
or
inv
ita
tio
n
top
urc
ha
seo
rsu
bsc
rib
efo
ra
ny
secu
riti
es,
an
dsh
all
no
tfo
rmth
eb
asi
so
rb
ere
lie
do
nin
con
ne
ctio
nw
ith
an
yco
ntr
act
or
bin
din
g
com
mit
me
nt
wh
ats
oe
ver.
No
off
eri
ng
of
secu
riti
es
of
the
Co
mp
an
yw
ill
be
ma
de
exc
ep
tb
ym
ea
ns
of
ast
atu
tory
off
eri
ng
do
cum
en
tco
nta
inin
gd
eta
ile
din
form
ati
on
ab
ou
tth
eC
om
pa
ny.
Th
isP
rese
nta
tio
nh
as
be
en
pre
pa
red
by
the
Co
mp
an
yb
ase
do
nin
form
ati
on
an
dd
ata
wh
ich
the
Co
mp
an
yco
nsi
de
rsre
lia
ble
,b
ut
the
Co
mp
an
ym
ake
sn
ore
pre
sen
tati
on
or
wa
rra
nty
,e
xpre
sso
rim
plie
d,
wh
ats
oe
ver,
an
dn
ore
lia
nce
sha
llb
ep
lace
do
n,
the
tru
th,
acc
ura
cy,
com
ple
ten
ess
,fa
irn
ess
an
dre
aso
na
ble
ne
sso
fth
eco
nte
nts
of
this
Pre
sen
tati
on
.T
his
Pre
sen
tati
on
ma
yn
ot
be
all
incl
usi
vea
nd
ma
yn
ot
con
tain
all
of
the
info
rma
tio
nth
at
you
ma
yco
nsi
de
rm
ate
ria
l.A
ny
lia
bil
ity
inre
spe
cto
fth
eco
nte
nts
of,
or
an
yo
mis
sio
nfr
om
,th
isP
rese
nta
tio
nis
exp
ress
lye
xclu
de
d.
Th
isp
rese
nta
tio
nco
nta
ins
cert
ain
forw
ard
loo
kin
gst
ate
me
nts
con
cern
ing
the
Co
mp
an
y’s
futu
reb
usi
ne
ssp
rosp
ect
sa
nd
bu
sin
ess
pro
fita
bil
ity,
wh
ich
are
sub
ject
toa
nu
mb
er
of
risk
sa
nd
un
cert
ain
tie
sa
nd
the
act
ua
lre
sult
sco
uld
ma
teri
all
yd
iffe
rfr
om
tho
sein
such
forw
ard
loo
kin
gst
ate
me
nts
.T
he
risk
sa
nd
un
cert
ain
tie
sre
lati
ng
toth
ese
sta
tem
en
tsin
clu
de
,b
ut
are
no
tli
mit
ed
to,
risk
sa
nd
un
cert
ain
tie
sre
ga
rdin
gfl
uct
ua
tio
ns
ine
arn
ing
s,o
ur
ab
ilit
yto
ma
na
ge
gro
wth
,co
mp
eti
tio
n(b
oth
do
me
stic
an
din
tern
ati
on
al)
,
eco
no
mic
gro
wth
inIn
dia
an
da
bro
ad
,a
bil
ity
toa
ttra
cta
nd
reta
inh
igh
lysk
ille
dp
rofe
ssio
na
ls,
tim
ea
nd
cost
ove
rru
ns
on
con
tra
cts,
ou
ra
bil
ity
tom
an
ag
eo
ur
inte
rna
tio
na
lo
pe
rati
on
s,g
ove
rnm
en
tp
oli
cie
sa
nd
act
ion
sre
gu
lati
on
s,in
tere
sta
nd
oth
er
fisc
al
cost
sg
en
era
lly
pre
vail
ing
inth
ee
con
om
y.T
he
Co
mp
an
yd
oe
sn
ot
un
de
rta
keto
ma
kea
ny
an
no
un
cem
en
tin
case
an
yo
f
the
sefo
rwa
rdlo
okin
gst
ate
me
nts
be
com
em
ate
ria
lly
inco
rre
ctin
futu
reo
ru
pd
ate
an
yfo
rwa
rdlo
okin
gst
ate
me
nts
ma
de
fro
m
tim
eto
tim
eb
yo
ro
nb
eh
alf
of
the
Co
mp
an
y.
2
3
Man
galo
re E
xpan
sion
§3
Acr
es
of
Lan
d a
llo
tte
d a
t
the
Po
rt
LPG
-Pi
pava
v
§S
tati
c C
ap
aci
ty –
27
00
MT
§T
hro
ug
hp
ut
–1
,00
,00
0 M
T
LPG –
Mum
bai D
ebot
tlene
ckin
g§
Th
rou
gh
pu
t –
4,0
0,0
00
MT
LPG
-Ha
ldia
§S
tati
c C
ap
aci
ty –
25
,00
0 M
T
§T
hro
ug
hp
ut
–1
5,0
0,0
00
MT
Liqu
id -
Kand
laLiqu
id -
Hald
ia
Mis
sion
To b
uil
d a
n u
nri
vall
ed
na
tio
na
l
po
rt i
nfr
ast
ruct
ure
an
d
dis
trib
uti
on
ne
two
rk i
n t
he
Oil
an
d G
as
sect
or
in I
nd
ia
§C
ap
aci
ty -
10
0,0
00
KL
§C
ap
aci
ty -
25
,00
0 K
L
5
Co
mm
erc
ial
So
urc
ing
Sh
ipp
ing
Term
ina
llin
gA
uto
Ga
s
Ind
ust
ria
lG
as
So
urc
ing
Ga
s Lo
gis
tics
(3
PL)
AN
D/O
R
So
urc
ing
Fe
es
Ga
s D
istr
ibu
tio
n
)
60
%4
0%
Cre
ati
ng
‘Le
ad
ing
LP
G S
ou
rcin
g P
lay
er
in I
nd
ia’
thro
ug
h V
ert
ica
l In
teg
rati
on
Str
ate
gy
Se
gm
en
tA
ctiv
ity
Re
ve
nu
e S
tre
am
Ga
s S
ou
rcin
gS
ou
rcin
g &
Sh
ipp
ing
So
urc
ing
Co
mm
issi
on
Ga
s Lo
gis
tics
Term
ina
llin
gT
hro
ug
hp
ut
Fee
s, H
an
dli
ng
&
Va
lue
Ad
dit
ion
Se
rvic
e C
ha
rge
s
Ga
s D
istr
ibu
tio
nIn
du
stri
al,
Co
mm
erc
ial
&
Au
to G
as
Dis
trib
uti
on
Ma
rgin
6
Imp
ort
s o
f LP
G i
n I
nd
ia
•So
urc
e:
PP
ACC
on
sum
pti
on
of
LPG
in
In
dia
Incr
em
en
tal
De
ma
nd
in
LP
G m
et
thro
ug
h I
mp
ort
s
‘00
0 M
T
14,331
10,456
7,016
18,000
+1
57
%
20
14
-15
20
05
-06
20
10
-11
20
00
-01
8,313
4,484
2,883
853
CA
GR
18
%
20
00
-01
20
05
-06
20
14
-15
20
10
-11
‘00
0 M
T
7
0
20
30
25
10 5
15
09
10
11
12
08
25
21
19
17
16
22
23
15
14
18
20
24
06
07
13
05
Do
me
stic
Pro
du
ctio
nIn
dia
n I
mp
ort
s
Fig
ure
s in
MT
20
14
/15
20
20
/21
Co
mm
en
ts
Sta
tic
Imp
ort
Ca
pa
city
31
2,8
00
31
2,8
00
*A
eg
is c
ap
aci
ty i
n 2
01
5 i
s 2
5,4
00
Imp
ort
Th
rou
gh
pu
t8
,30
0,0
00
14
,57
6,0
00
# o
f Tu
rns
26
.54
6H
igh
de
mu
rra
ge
co
sts
Op
tim
um
Tu
rns
24
24
Sou
rce
: P
PA
C/I
OC
an
d M
an
ag
em
en
t E
stim
ate
s
* A
ssu
min
g n
o n
ew
bu
ild u
p
MnMT
8
Lea
din
g L
PG
Lo
gis
tics
Pla
ye
r in
In
dia
Exp
an
sio
n -
Term
ina
lin
g C
ap
aci
ty
JV w
ith
IT
OC
HU
Eff
icie
nt
an
d C
ost
Eff
ect
ive
Sh
ipp
ing
fo
r H
igh
Vo
lum
es
Str
on
g N
eg
oti
ati
ng
Po
we
r
Fin
an
cia
l M
usc
le
ü ü ü
Gro
win
g L
PG
Ma
rke
t in
In
dia
Str
on
g C
ust
om
er
Re
lati
on
ship
Term
ina
lin
g C
ap
aci
ty
ü ü ü
9
Ae
gis
Lo
gis
tics
Ltd
ITO
CH
U P
etr
ole
um
Co
.,
(Sin
ga
po
re)
Pte
Ltd
Ae
gis
Gro
up
In
tern
ati
on
al
Pte
. Lt
d (
AG
I)
Join
t V
en
ture
to
be
com
e a
lea
din
g
LPG
so
urc
ing
pla
yer
in I
nd
ia
Ae
gis
Lo
gis
tics
Lim
ite
d s
old
40
% o
f it
s e
qu
ity
ow
ne
rsh
ip i
n it
s w
ho
lly o
wn
ed
su
bsi
dia
ry,
Ae
gis
Gro
up
In
tern
ati
on
al P
te.
Ltd
. Si
ng
ap
ore
, to
IT
OC
HU
Pe
tro
leu
m C
o.,
(Si
ng
ap
ore
) P
te L
td.,
a
wh
oll
y o
wn
ed
su
bsi
dia
ry o
f IT
OC
HU
Co
rpo
rati
on
fo
r a
to
tal
con
sid
era
tio
n o
f $
5.8
5 m
illi
on
60
%4
0%
Att
ain
ing
Co
st L
ea
de
rsh
ip i
n t
he
LP
G i
mp
ort
ma
rke
t
Low
eri
ng
th
e d
eli
ve
red
pri
ce t
o m
ost
Co
mp
eti
tiv
e l
ev
els
So
ld 4
0%
in
AG
IS
old
40
% i
n A
GI
Ae
gis
en
tere
d i
nto
a J
oin
t V
en
ture
fo
r it
s
Sin
ga
po
re b
ase
d L
PG
So
urc
ing
an
d S
up
ply
Bu
sin
ess
wit
h
ITO
CH
U P
etr
ole
um
Co
., (
Sin
ga
po
re)
Pte
Ltd
10
§2
5,0
00
MT
–2
Fu
lly
Re
frig
era
ted
Ta
nks
of
12
,50
0 M
T e
ach
Sta
tic
Ca
pa
city
§R
s 2
50
crs
Pro
ject
Co
st
§In
tern
al
Acc
rua
l
Me
an
s o
f F
ina
nce
Gu
jara
t
We
st
Be
ng
al
We
Be
Ha
ldia
ü ü ü
§Q
1 F
Y1
7-1
8
Pro
ject
Co
mp
leti
on
Da
teü
§1
5,0
0,0
00
MT
at
full
uti
liza
tio
n
Th
rou
gh
pu
t C
ap
aci
tyü
Sig
ne
d 2
0 y
ea
rs o
f M
OU
wit
h
a L
arg
e P
SU
as
An
cho
r C
ust
om
er
at
the
Cu
rre
nt
Ma
rke
t T
hro
ug
hp
ut
Ra
tes
§P
ara
dip
-D
urg
ap
ur
Pip
eli
ne
pa
sse
s
thro
ug
h H
ald
ia
Pip
eli
ne
Co
nn
ect
ivit
yü
11
§2
0,0
00
MT
Sta
tic
Ca
pa
city
to
re
ma
in s
am
e
§R
s 1
5 c
rs
Pro
ject
Co
st
§In
tern
al
Acc
rua
l
Me
an
s o
f F
ina
nce
ü ü ü
§Q
1 F
Y1
7-1
8
Pro
ject
Co
mp
leti
on
Da
teü
§1
1,0
0,0
00
MT
(in
cre
me
nta
l 4
,00
,00
0 M
T)
Th
rou
gh
pu
t C
ap
aci
tyü
§U
ran
–C
ha
kan
/ S
hik
rap
ur
LPG
Pip
eli
ne
pa
sse
s th
rou
gh
Mu
mb
ai
Pip
eli
ne
Co
nn
ect
ivit
yü
Pro
ject
wo
uld
in
clu
de
ad
dit
ion
of
:
§In
take
Pu
mp
s
§In
tern
al P
ipe
lin
e
§C
on
ne
ctiv
ity
of
Mu
mb
ai T
erm
ina
l to
Ura
n–
Ch
aka
nP
ipe
lin
e G
rid
12
Gu
jara
tG
uG
uja
Gu
Pip
av
av
§2
70
0 M
T
Sta
tic
Ca
pa
city
§R
s 1
5 c
rs
Pro
ject
Co
st
§In
tern
al
Acc
rua
l
Me
an
s o
f F
ina
nce
ü ü ü
§Q
1 F
Y1
6-1
7
Pro
ject
Co
mp
leti
on
Da
teü
§1
,00
,00
0 M
T a
t fu
ll u
tili
zati
on
Th
rou
gh
pu
t C
ap
aci
tyü
Th
rou
gh
pu
t v
olu
me
s fo
r LP
G h
an
dle
d i
n P
ipa
va
v
ex
pe
cte
d t
o g
row
thro
ug
h
ex
isti
ng
an
d n
ew
cu
sto
me
r re
lati
on
ship
s
13
Sta
tic
Ca
pa
city
MT
Th
rou
gh
pu
t C
ap
aci
ty M
T
20
,00
02
0,0
00
20
,00
0
5,4
00
8,1
00
8,1
00
25
,00
0
20
16
-17
20
17
-18
28
,10
02
5,4
00
53
,10
0
20
15
-16
Mu
mb
ai
Ha
ldia
Pip
ava
v
50
0,0
00
70
0,0
00
20
0,0
00
40
0,0
00
40
0,0
00
20
15
-16
1,1
00
,00
0
20
16
-17
20
17
-18
70
0,0
00
1,1
00
,00
0
3,0
00
,00
0
1,5
00
,00
0
40
0,0
00
20
17
-18
1,1
00
,00
0
3,0
00
,00
0
1,5
00
,00
0
Ex
pa
nsi
on
in
Ha
ldia
De
bo
ttle
ne
ckin
g i
n M
um
ba
i
14
B2
C
§A
uto
Ga
s R
eta
ilin
g:
Dis
trib
ute
LP
G a
s A
uto
Fu
el
thro
ug
h G
as
Sta
tio
n
Ne
two
rk
§1
02
Au
to G
as
Sta
tio
ns
acr
oss
7 S
tate
s
§B
ulk
In
du
stri
al
Dis
trib
uti
on
:D
istr
ibu
te L
PG
th
rou
gh
ro
ad
ta
nke
rs t
o A
uto
,
Ste
el,
Ce
ram
ic I
nd
ust
rie
s e
tc
§C
om
me
rcia
l LP
G:
Dis
trib
ute
Pa
cke
d C
yli
nd
ers
fo
r C
om
me
rcia
l a
nd
Ind
ust
ria
l use
rs
§7
8 C
om
me
rcia
l D
istr
ibu
tors
sp
rea
d a
cro
ss 4
2 C
itie
s in
7 s
tate
s
B2
B
an
d
15
* N
orm
ali
zed
EB
ITD
A –
Be
fore
Fo
rex,
He
dg
ing
Re
late
d E
xpe
nse
s
9M
on
ths
Rs.
in
Cr.
81
85
61
95
85
46
20
13
-20
14
FY
20
11
-20
12
20
12
-20
13
9M
FY
20
16
20
14
-20
15
20
10
-20
11
16
Log
isti
cs (
‘00
0 M
T)
Dis
trib
uti
on
(‘0
00
MT
)
31
37
11
42
+1
9%
FY
16
FY
15
9M4Q
13
1
49
5
65
8
FY
16
9M
+3
3%
4Q
FY
15
62
6
•T
hro
ug
hp
ut
volu
me
s fo
r LP
G h
an
dle
d in
Pip
ava
va
nd
Mu
mb
ai
Term
ina
ls
exp
ect
ed
to
gro
w 3
0-4
0%
on
Yo
Yb
asi
s th
rou
gh
exi
stin
g a
nd
ne
w c
ust
om
er
rela
tio
nsh
ips
•C
om
mis
sio
nin
g o
f se
con
d c
he
mic
al
be
rth
in
Mu
mb
ai
Po
rt w
hic
h w
ill
resu
lt
in a
dd
itio
na
l p
ort
ha
nd
lin
g c
ap
aci
ty o
f 2
.5 m
nM
T p
er
yea
r
•A
n a
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FY
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FY
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FY
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De
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For
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form
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