FY22Q2 concall notes:
- Pipavav:
o Port has started work on making LPG jetty compliant for handling VLGC (completion expected by April 2022)
o In KGPL terminal, Pipavav has been allotted 1.25mn MT in phase 1 which will go to 1.5mn MT in phase 2. - Kandla:
o Port has started work on making LPG jetty compliant for handling VLGC (completion expected by June 2022)
o - Haldia:
o Pipeline connecting Haldia terminal to HPCL Panagarh bottling plant to be commissioned soon
o Should reach normal volumes by March 2023 with HPCL taking up volumes given up by BPCL
o Acquired 2.5 acres land in Haldia - Kochi: Signed 10 (with 15 years extension) year contract for use of 21’000 kl of petroleum storage with Shell
- Mangalore: Acquired 21 acres land
- JV Vopak: Propose to add 175’000 kl liquid storage (LPG + other chemicals) + 100’000 MT gas storage capacity across Pipavav, Haldia, Mangalore and Kochi with capex of ~1’250 cr.
- Expect Phase I completion of KGPL terminal by December 2022
- Want to reach 25% market share of LPG imports
- Recently market share in LPG has come down to ~15%, this should go up with ramp up of Haldia by uptake of HPCL + Kandla commissioning + better Pipavav connectivity and ramp up of railway gantry volumes
- Autogas division: EBITDA margin has reached 10’000/MT
Disclosure: Invested (position size here)