Aegis Logistics : UNAUDITED Q2 FY 2025-26 Consolidated

] CNK &

Associates LLP

C h a r t e t e dAccountants

Independent Auditor's Review Report on Unaudited Consolidated Financial Results of Aegis Logistics Limited for the quarter and half year ended September 30, 2025, pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

To

The Board of Directors

Aegis Logistics Limited

We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results (the "Statement") of Aegis Logistics Limited (the "Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as the "Group") for the quarter and half year ended September 30, 2025, being submitted by the Parent pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ("the Listing Regulations") as amended from time to time.

2. This Statement, which is the responsibility of the Parent's Management and approved by the Parent's Board of Directors at their meeting held on November 07, 2025, has been prepared in accordance with the recogninon and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34'3, prcscribed under Section 133 of the Companies Act, 2013 as amended, read Cth relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance in compliance with the Listing Regulauons. Our responsibility is to express a conclusion on the Statement based on our revicw.

We conducted our review of the Statement in accofdance with the Standard on Review Engagements (SRI) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Insutute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of intcrim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially lcss in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

" »; :r " '

Mistry Bhavan, 3rd Floor, Dinshaw Vachha Road, Churchgate, Mumbai 40{) 020. Tcl• *91 22 6623 0600

501-502, Narain €ihainbers, M.G. ROSd Vile Parle (E), Mumbai 400 057. Tel: +91 22 GSM() 7600

Website: https://[e-mail]1

We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33 (8) of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

The Statement includes the results of the following entities: Parent:

Aegis Logistics Limited

Subsidiaries:

1. Aegis Gas (LPG) Private Limited

2. Sealord Containers Limited

3. Regis Group International Pte. Limited ^

4. Aegis International Marine Services Pte. Limited °

5. Eastern India LPG Company Private Limited

6. Aegis Vopak Terminals Limited

S o Subs d a es

1. CRL Terminals Private Limited

2. I€onkan Storage Systems (Kochi) Private Limited

3. Hindustan Aegis LPG Limited

4. Aegis Terminals (Pipavav) Limited Incorporated/ Located outside India

G. Based on our review conducted and procedures performed as stated in paragraph 3 and 4 above and based on the consideration of review reports of the other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

Other Matter

7. We did not review the financial results of five subsidiaries (including two step-down subsidiaries) included in the Unaudited Consolidated Financial Results, whose financial results reflect total assets of 1 2,39,738 Lakhs as at September 30, 2025 and rotal revenues of Z 17,689 I-akh s and T 36,742 Lakhs, total net profit after tax of T 8,502 Lakhs and T 34,602 Lakhs and total comprehensive income (net) of T 8,504 Lakhs and I 34,611 Lakhs for the quarter and half year ended September 3H, 2023 respectively rind net cash flows of I (9,300) Lakhs for the half )'car ended September 30, 2025. 'l'hese financial results have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 and 4 above

Clur conclusion on the Statement is not modified in respect of the above matter.

For C N K & Associates LLP Chartered Accountants

in MUMBAI

Firm Registration Number: 101961W/W-100036

Vijay Mehta

Partner

Membership No.: 106533

UDIN . 2510053311LtM1.HB7416

Place: hlumbai

hate: Novembcr 07, 2025

A E G I S

AEGIS LOGISTICS LIMITED UNA UDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ANO HALF YEAR ENDED SEPTEMBER 30 2025 {£ in Lakh except per ahare data
	Quarter ended			Half year ended		Year ended
	30.09.2025	30.06.2025	30.09.2024	30.09.2025	30.09.2024	31.03.2025
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
INCOME
Revenue from operations	229,401	171,941	175,042	401,342	335,176	676,379
2 Other income	9,601	6,253	3,946	15,804	8,299	20,836
3 TOTAL INCOME (1*2)	239,002	178,194	178,988	417,196	343,4T5	697,215
EXPENSES
Purchases of stock-in-trade	178.283	141,857	152,956	820,J40	£81,303	541,431
Chang es in Inventories of slock in trade	11,361	(3,074)	(8,894)	8,307	(9,203)	(11.733)
Employee benefits expenses	2,668	2,487	2,219	5,155	4,882	9,631
Finance costs	2,431	3,283	3,001	5,?14	6,135	16527
Depreciation and amortisation expense	5,216	4,172	3,737	9,388	7,421	15,224
Other expenses	8,003	6,679	6.367	14,682	12,567	27,253
TOTAL E XPE USES	207.982	155,404	159,386	363,386	303,105	598,333
Profit before tax (3-4)	31.020	2D,790	19,602	53,81 0	40,370	98,882
6 Tax expenses	6,618	5,254	4,400	11,872	9,362	20,141
Profit for the period/ year	24,402	17,536	15, 202	41,938	31, 008	78,741
Attributable to :
Owners of the company	17,963	13, 32	1 2,596	31, 095	25,745	66,337
Non Controllln g Inlerest	6,139	4,4 04	2,606	10,843	5,263	1 2. 404
Other Comprehensive Income (net of tax)	137	(13)	(14)	1 24	(59)	(76)
Attributable to '
Owners of the company	75	(14)	(14)	61	(43)	(80)
Non Controlling Interest	62	1		63	(16)	4
Total Comprehensive Income for the period/ year (7'+8)	24,539	1z,szo		42,063	30, 949	y8,665
Attributable to :
Owners of the company	18, 038	13,118	12,582	34 ,156	25,702	66, 256
Non Controlling Interest	6,501	4,405	2,606	10,906	5,247	12, 407
1 0 Pa id up Equity Share Capital	3,510	3,510	3,510	3,510	3,510	3,510
(Face value of 71 per share)
11 Other Equity						459,572
1 2 Earnings per equity share (Face value of £1 each)
(Not annual‹sed, excep! for the year ended 3 0s 2025]
Basic (in I)	5.12	3 74	3.59	8.86	7.33	18.00
Diluted (in T)	5 12	3.?4	3.59	B.8£	Z33	1890

$ee accompanying notes to the financial results

AEGIS LOGISTICS LIMITED

AEGIS LOGISTICS LIMITED UNAUDIT ED CONSOLIDATED SEGMENT INFORMATION FOR THE QUA RTER AND HALF YEAR ENDED SEPTEMBER 30, 2025 (y In Lakh
	Quarter ended			Half year ended		Year ended
	30.09.2025	30.06.2025	30.09.2024	30.09.2025	30.09.2024	31.03.2025
	UnaudIted	UnaudIted	Unaudited	Unaudited	Unau dited	Audited
Segment Revenue Liquid Terminal Division	1 466	14,393	13, 018		2?,292	64,977
Gas Terminal Division	213,945	157.5d8	16Z, 024	371, 493	307,884	611, 40y
Net Sales / Income from Operations
	229.401	171,94t	175,042	401,342	335,176	676,379
Segment Results
Liquid Terminal Division	9,168	8,038	7,009	17,206	1.5,57 4	4.0, 438
Gas Terminal Division	19,615	3,212	12,951	32,827	25,812	61,137
Tola) of segment results	28,783	21.250	18,960	50,033	41.386	101,57$
Less Finance Cost	2,431	3,283	3, 00.4	5,714	6,135	16,527
Less Other un-allocable expenditure (net)	581	1.170	9B8	1,751	2,147	5,466
Add . Interest Income	5,24.9	5,993	3.631	1.1, 242	7,266	19,300
Profit before tax	31,020	22,790	19,602	53,810	40,370	98,882
Segment Assets
Liquid Terminal Division	363.690	359,532	342, 075	363,890	342, 075	329,839
Gas Terminal Division	531,259	529,729	4.22,344	531, 259	422,344	522,687
Unallocable	309,872	357,473	22$,6 8	3098r2	225,618	270,749
Tota	1,205,021	1,246,734	990,037	1.205,021	990,037	1,123,275
Segment Liabilities
Liquid Terminal Division	150, 273	156,145	76,693	150, 273	76,593	121,780
Gas Terminal Division	91.81 4	106,113	138,826	91,814	138,826	115,349
Unaliocable	31,540	•40,136	23¿89	31, 5s0	23,589	25,557
TOt6	273,627	302,394	239.008	273, 6.27	z39,008	26 ¥,6B6
Capital employed Liquid Terminal Division	24.3,61.7	203,387	265,482	213, 617	265, 482	208,059
Gas Terminal Division	439, 445	423,6.16	283,518	439.445	283,518	4.07,338
Unallocable	278,332	317,337	202, 02.9	278,332	202, 029	245,192
T ota	931,394	9d4,340	751,029	931,394	751,029	860,589

AEGIS LOGISTICS LIMITED UNAUDITED CONSOLIDATED BALANCE SHEET AS AT SEPTEMBER 30 2025 } y In Lakh
Particulars	As at Se ptember 30, 202a	As at March 31, 2025
	Unaudited
ASSETS Non-current as sets Property, plant and equipment Capital work-in-progress Goodwill Intangible assets Financial assets Investments Loans iii Other financial assets Current tax assels [net) Deferred tax assets (net) Other non current assets Total non-current assets Current assets Inventories Financial assets Investments Trade receivables Cash and cash equivalents iv. Bank balances olher than (iii) above v Other financial assets Other current assets TataI current assets TOTAL ASSETS EQUITY AND LIABILITIES Equity Equlty Share capital Other equity Equity attributable to owners of the Company Non Controlling Tnteresl Total equity LIABILITIES Non-current liabilities Financial liadilities i. Borrowings Lease Liabiilties Other financial liabilities Proves ons Deferred tax liabilities (Net) Other non-current liabilities Total Non•current liabilities Current liabillties FinanCial liabilities Borrowings Lease Liabilities iii Trade payables Total outstanding dues of creditors of micro enterprises and small enterprises Total outstanding dues of creditor other than micro enterprises and small enterprises iv Other financial liabilities Other current liabilities Provisions Current tax liabilities (Net) Total current liabilities TOTAL LIABILITIES TOTAL EQUITY AND LIABILITIES	637, 280 43,564 1,483 217 8j92 4,500 38,554 4,540 32, 522 19,167	507, 001 430,779 1,4g3 137 4,500 2,224 3,766 23, 758 19,336
	g fi0,619 11, 495 43,745 53.852 78,325 160,586 11,802 14,595	6gy,g85 18, 451 69,327 1 41, 079 178, 009 g,5g7 13.827
	8y4,402	430,290
	1,205,021	1,123,275
	3,510	3,510 459572
	594,135 263, 071	463,082 109, 065
	857, 206 42,502 156,787 5, 432 1,791 17, 219 1 23	$72147 235,310 158, 606 5.904 1,681 15.289 139
	223.g$4 31,686 1 2,903 92 43,833 16,691 10,920 1,224 0.612	416,929 53,132 13,555 gg 44,360 9,652 7, 013 1, ZZ4 5,175
	123,961	134,199
	347,815	551,1 28
	1,205,021	1,123,275

AEGIS LOGISTICS LIMITED UNAUDITED CONSOLIDATED CASH FLOW STATEMENT FOR THE HALF YEAR ENDED SEPTEMBER 30 2025 (I In Lakh
Partlc ulars	Half year ended September 30, zO25	Half year ended September 30. 2024
	Unaudited	Unaudited
Cash flow from operating activities
Profit before tax	53, 810	40,370
Adjustments for
Depreciation and amortisation	9,388	7,421
Profit on sale of property, plant and equipment	(5)
Profit on sale of other investments	(695)	(20b)
Finance costs	5,714	6,135
Interest income	(11, 242	(7,266)
Fair value gain of Investment in Mutual Funds	(582)
Sundry w edit balances written back	(53)	(178)
Bad debts/ sundry balances written off		12
Provision for doubtful debts and advances		2
Amount recognised in other comprehensive income	114	(8 )
Operating profit before working capital changes
	56,450	46,209
Adjustments for chanqes in workinq capital:
Decreased (increase) in inventones	6,956	(9,344
Decrease in trade receivables	15,474	881
(Increase) in other current financial assets	(3,510)	(579)
(Increase) in other current assets	(711)	(2,455)
(Increase) in other non-current financial assets	(337)	(271 )
(Increase) in other non-current assets	(193)	(1,584)
(Decrease) in trade payables	(471)	(6,914)
Increased (decrease) ›n other current financal liabilities	2,792	(92)
Increase In current provisions		52
(Decrease) in other non-current liabilities	(3)	(4)
Increased (decrease) in other current Iiabtltties	3.907	(446)
(Decrease)/ increase in other non-current financial liabilities	(486)	253
Increase in non-current provisions	110	154
Cash generated from operations
	79,978	25,860
Income tax paid (net)	(16, 043)	(10, 003)
Net cash generated from operating activities (A)
	63,938	15,857
Can h flow from investinq activities
Purchase of property, plant and equipment including capital advances	(41,651	(47,908)
Sale of property, plant and equipment	295	87
Sale of investments in subsidiary company		18, 00g
Purchase of non-current investments	(48,791
Purchase/ sale of current investments (net)	(42, 469	19,604
Loan given		(4,500)
Bank balance not considered as cash and cash equivalents	(18,556)	(50,506)
Interest inCome received	11,352	6.798
Net cash (used in) investing activities (B}
	(139,820)	(58,416)
Cash flow from financTnq activities
Movement in current borrowings (net)	(9,794)	4,168
Proceeds from borrowings		106,111
Repayment of borrowings	(203,448)	(365)
Payment of lease liabilities	(9,471)	(9,35g)
Dividend paid (including payment by a subsidiary to non-controlling interest)	(27,973	(13, 413)
Issue of shares by subsidiary company (net of share issue expenses)	269, 088
Interest paid	(5 271	(6 906)
Net cash generated from financing activities (C)
	13,131	80,257
Net (decrease)/ increase In cash and cash equivalents (A+B•C)	(62,754j	37,69e
Cash and cash equivalents as at the beginning of the period	141,079	103,230
Cash and cash equivalents as at the end of the period
	78,325	140,928
Note : The above Cash Flow Statement has been prepared under the 'indirect method' as set out in Indian Accounting Standard (Ind AT 7) - Statement of Cash

AEGIS LOGISTICS LIMITED

UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALL YEAR ENDED SEPTEMBER 30, 2025

NOTES'

The above Consolidated Financial Results have been reviewed by the Audit Committee and approved Dy the Board of Donors at the meeting IneId on November 7, 2025

These results are prepared in accordance Cth the recognition and measurement principles laid down in the Indian Accounting Standard 34 "lnteñm Financial Reporting' ("Ind AS s4'), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India.

1. The following Subsidiaries have been considered for the purpose of preparing Consolidated Financial Results as per Ind AS 110 on "Consolidated Financial Statements'.

   Name of the Subs diary Company	On nership Interest in °/
   Sea Lord Containers Limited	100%
   Konkan Storage Systems (Koclni) Private Limited (Effective ovrrership being step down subsidiary)	44 71%
   Eastern India LPG Co (Private) Limited	100%
   Aegis Group International Pte Limited	60%
   Aegis Gas (LPG) Private Limited	100°/<
   Hindustan Aegis LPG Limited	51%
   Aegis International Marine Services Pte Limited	100%
   Aegis Vopak Terminals Limited	44.71%
   CRL Terminals Priva!e Limited. (Effective ownership being step down subsidiary)	44.71%
   Aegis Terminal {PIPAVAV) Limited	96%

2. Other expenditure includes the provision of commission T165 lakh and f330 lakh for the quarter and half year ended September 30, 2025 to the Managing Director which is dependent upon the net profit determinable u/s 198 of the Companies Act, 2013 at the year end of the holding company

During the previous quaner ended June 30, 2025, Aegis Vopak Terminals Limited, a subsidiary company has completed Initial Public Offer ("IPO") of fresh issue of 119,148.936 equity shares of face value of 710 each at an issue price of T235 per share aggregating to T280, 000 lakh Pursuant to the IPO, the equity shares of Aegis Vopak Terminals Limited were listed on the National Stock Exchange ("NSE") and Bombay Stock Exchange (' BSE ') on June 2, 2025

This has resulted in the dilu tion of equily holding of the Company from 50 1g% to 44.71% Aegis Logistics Limited (ALL) has power and de facto control over Aegis Vopak Terminals Limited (AVTL). Accordingly, there is no loss of control of ALL over AVTL post the IPO and ALL continues to consolidate AVTL as a subsidiary.

The Company has opted to publish only Consolidated Financial Results The Standalone Financial Results of the Company for the quarter and halI year ended September 30, 2025 w1II be avaslabIe on the websites of the Company viz. www'. aegisindia com, Bombay Stock Exchange Ltd. viz https://www.bseindia.com and National Stock Exchange of India Ltd viz. https://www.nseindia.cam Additional inform ation on Standalone basis is as follows.

(I in Lakh)

PARTICULARS	Quarter ended			Half year ended		Year ended
	30.09.2025	30.06.2025	30.09.2024	30.09.202$	30.09.2024	31.03.2025
	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
Revenue from operations	102.787	03.661	65 826	186, 448	139, 041	297 678
FrofiI before Tax	22 411	9,355	9,598	31,766	31,632	67 776
Profi t after Tax	16 671	6,918	7, Z16	23, 089	23,757	AZ 900
ToLai L omprehensive Income	16,662	6,699	7,200	23.551	23,726	62.825

7 The Company has declared and paid Interim dividend of 200% i.e. W2 per share of face value of 71 each for the fir'anciaI year 2025-26 to the shareholders of the Company as on reard date June 25, 2025.

For and on behalf of the Board of Directors

Place Mumbai

Date: November 7, 2025

Raj K. Chandaria

Chatrman & Managing Oirector DIN : 00037518