Aegis Vopak's Profit Plunge Masks Stronger Revenue Trend
The tank storage firm posted a sharp quarterly profit drop, but revenue growth remains robust year-on-year.
Aegis Vopak's Q1 FY27 profit fell 61% sequentially despite steady revenue. The net profit margin contracted sharply from the prior quarter's exceptional level.
Aegis Vopak Terminals delivered a quarter of stark contrasts. While revenue continued its healthy year-on-year climb, profit took a steep sequential dive, highlighting volatility in the tank storage business.
The company's revenue for Q1 FY27 reached ₹178.49 crore, up a solid 29% from the same period last year. However, profit after tax (PAT) of ₹50.68 crore fell sharply by 61% compared to the previous quarter (Q4 FY26), even as it managed an 18.8% increase year-on-year. This divergence squeezed the net profit margin down to 28.4%, a significant drop from 73.3% in the prior quarter and slightly below the 30.8% margin from Q1 last year.
A look at the last five quarters shows revenue on a steady upward trajectory, while profit has been more volatile, with Q4 FY26 standing out as an exceptionally strong period.
Revenue (₹ Cr)
Profit (₹ Cr)
Net Profit Margin (%)
| Metric | CurrentQ1 FY27 | PreviousQ4 FY26 | Same quarter LYQ1 FY26 |
|---|---|---|---|
| Revenue (₹ Cr) | 178.49YoY +29% | 177.40 | 138.35 |
| Profit (₹ Cr) | 50.68YoY +19% | 130.03 | 42.66 |
| Net Profit Margin (%) | 28.4YoY -7.8% | 73.3 | 30.8 |
Key Points
- The trailing twelve-month (TTM) net profit margin remains strong at 41.2%, well above the latest quarter's figure.
- The stock has delivered an 18.6% return over the past year, closing at ₹288.7 on the results date.
- The company trades at a P/E of 57.7, a 22% premium to its industry peers.
With the Q1 profit margin well below its recent average, the focus shifts to whether this quarter represents a normalization after an exceptional Q4 or the beginning of sustained margin pressure.
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· AEGISVOPAK
(BSE)
ISIN: INE0INX01018
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