Aegis Vopak Terminals Limited (AVTL) held its Q3 and 9 Months FY26 earnings conference call on January 30, 2026. The company reported a significant increase in financial performance, with Q3 FY26 revenue from operations rising by 22.3% year-on-year to ₹197.5 crores. Revenue from the liquid terminalling segment saw a substantial 37% increase to ₹116.5 crores, driven by higher volumes and an improved product mix. The gas terminalling division's revenue grew by 6% to ₹81 crores, with gas throughput at 0.67 million metric tons. Operating EBITDA for Q3 FY26 grew by 23% year-on-year to ₹145.9 crores, and profit surged by 62.7% year-on-year to ₹61.5 crores. For the nine-month period of FY26, revenue from operations increased by 18.3% to ₹549.1 crores, with liquid terminalling revenue up 26.6% to ₹319.4 crores and gas terminalling revenue up 8.4% to ₹229.7 crores. Operating EBITDA for the nine months rose by 18.1% to ₹403.2 crores, and profit grew by 90% to ₹163.2 crores. The company highlighted several strategic developments and expansions. The new LPG terminals at Pipavav and Mangalore, commissioned last year, are now fully operational. AVTL completed the acquisition of a 75% stake in Hindustan Aegis LPG Limited (HALPG), adding 25,000 metric tons of LPG storage capacity at Haldia and marking AVTL's entry into the East Coast market. HALPG has an exclusive terminalling agreement with HPCL until 2038. Significant expansion projects are underway across various ports. At JNPT, an additional 318,100 cubic meters of liquid capacity and 77,236 metric tons of LPG capacity are being added, with a capital expenditure of ₹1,675 crores. The first phase of new liquid capacity at JNPT is expected online in Q1 FY27. At Kandla Port, the Jamnagar Loni LPG Pipeline is nearing completion, expected next month, and the Kandla Gorakhpur LPG Pipeline is scheduled for connection by June 2026. A new CRL4 liquid terminal with 94,148 cubic meters capacity is slated for commissioning next year. An MOU has been signed with Larsen & Toubro for jointly developing ammonia terminals at Kandla. At Pipavav Port, a 15-year long-term take-or-pay agreement has been signed for handling petroleum products, commencing at the end of the calendar year, securing over half a million metric tons annually. India's first independent ammonia terminal with a 36,000 metric tons capacity is progressing well at Pipavav, backed by a 15-year take-or-pay agreement with Hindustan Zinc, expected completion before Q1 of the next fiscal year. The company also announced plans for significant capital expenditure, projecting an aggregate capex of $1.2 billion by next year and a roadmap of approximately $5 billion by 2030, to be financed through internal accruals and debt. The company is also assessing development at Vadhavan Port with a potential project outlay of approximately ₹20,000 crores. The transcript of the earnings conference call was submitted to the exchanges on February 5, 2026, following the call held on January 30, 2026.
