Aegis reported another good quarter with highest ever distribution volumes, largely driven by bulk industrial volumes. Concall notes below.
FY24Q1 concall
- Pipavav: First VLGC will start soon
- Kandla: Capacity utilization is >20% and higher than expectations
- Haldia: Operations are normal now, its a captive terminal now for HPCL
- Liquid division: All facilities except Pipavav are running at 100% utilization
- Sourcing volumes: 2.26 lakh MT in Q1 (2.3 lakh MT in Q1FY23)
- Terminaling quarterly volumes were 881’000 MT (vs 637’000 in Q1FY23)
- Commercial & industrial: Quarterly volumes was 159’000 (vs 136’100 MT in Q4FY23; 85’000 MT in Q1FY23)
- Bulk industrial volumes were 1.44 lakh MT (vs 1.31 lakh MT in Q4FY23)
- Capex: 1750 cr. will be in JV
- Propane is still 20-25% cheaper than natural gas
Disclosure: Invested (position size here, sold shares in last-30 days)