The agreement is valued at ₹142.5 crore.
The company said it will develop a refrigerated double steel wall, full containment, insulated propane storage tank with a capacity of 51,998 metric tonnes at the terminal.
Under the agreement, Aegis Logistics will receive ₹142.5 crore from AVTL upon execution of the framework agreement.
The company said the transaction is a related-party transaction as AVTL is its subsidiary, and added that it has been undertaken on an arm’s length basis.
Earlier today, the firm reported its June quarter earnings. The logistics and liquefied petroleum gas (LPG) infrastructure company reported a consolidated net profit of ₹484 crore for the quarter ended June, compared with ₹131 crore in the corresponding period last year. Revenue from operations increased 37% year-on-year to ₹2,357 crore from ₹1,719 crore.
Earnings before interest, tax, depreciation and amortisation (EBITDA) nearly tripled to ₹715 crore from ₹240 crore a year earlier. EBITDA margin expanded sharply to 30.3% from 14%, reflecting stronger operating performance during the quarter.
Profit before tax rose to ₹719.3 crore from ₹227.9 crore in the year-ago quarter, while tax expense increased to ₹174.4 crore from ₹52.5 crore. Total expenses climbed to ₹1,743.9 crore from ₹1,554 crore, led by higher purchases of stock-in-trade, employee costs and finance costs.
The company’s Gas Terminal division remained the primary contributor to performance. Segment revenue increased to ₹2,178.6 crore from ₹1,575.5 crore a year ago, while segment profit more than quadrupled to ₹575.3 crore from ₹132.1 crore.
Aegis Logistics Ltd. shares ended nearly flat on Thursday, closing at ₹1,395.60 on the NSE, down 0.01% from the previous close.
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