Skyways Air Services Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,417 Cr
- P/E
- 26.54
- ROE
- 13.97%
- PEG
- -2653.97
- Price to sales
- 0.51
- Debt to equity
- 1.88
- 52W high / low
- ₹137 / ₹107
- EBITDA margin
- 4.57%
- Net profit margin
- 2.23%
- Promoter holding
- 56.82%
- Sales (last year)
- ₹2,813 Cr
Incorporated in 1984, Skyways Air Services Limited (SASL) is a leading air freight forwarding and logistics company in India.[1]
Guidance scorecard · Q1 FY27 call
What Skyways Air Services's management guided
and where it ranks in Transport Services
Transport Services
RevenueQ1 FY27 call
20–40%- Skyways has demonstrated consistent volume growth historically, with a 23% increase in air cargo volume in Q1 FY27 and 18% in ocean freight.
- Management aims to sustain and potentially improve volume growth rates, targeting around 25-30% volume growth going forward.
- The company is focusing on expanding into new higher-yield trade lanes and specialized commodities such as pharmaceuticals, textiles, consumer electronics, automotive, and defense equipment.
- International expansion is underway with plans to enter new markets like China, Malaysia, Indonesia, Middle East (UAE, Saudi Arabia), with a 2-3 year break-even on profitability.
- Though yield per unit is dynamic due to fuel costs, volumes remain the key growth driver.
2 more points from Skyways Air Services's call on revenue
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MarginsQ1 FY27 call
FlatSee what Skyways Air Services said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Board has approved INR 30 crores for expansion into new international offices in China, Malaysia, Indonesia, Philippines, and other Far East markets.
- This investment includes creation of wholly-owned subsidiaries or joint ventures depending on regulatory and business conditions.
- Capex forms about 10-15% of the INR 30 crores, mainly for office setup and small warehouses; rest is for working capital and operational costs.
- An additional INR 20 crores capital infusion approved for overseas subsidiaries in UAE, Saudi Arabia, and Vietnam.
- Break-even at EBITDA level expected in 15-18 months, PAT-level break-even in 2-3 years.
- Generic annual capex for the group including warehouse and office expansions is INR 35-40 crores.
- A cold chain warehouse project is expected to become operational next quarter.
2 more points from Skyways Air Services's call on capex
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FundraisingQ1 FY27 call
None plannedSee what Skyways Air Services said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- Consistent volume growth expected over the next 3 to 5 years, supported by new market entries and higher-yield trade lanes.
- Expansion into new international markets (China, Malaysia, Indonesia) with investments around INR 30 crores, targeting long-term revenue growth.
- Ability to pivot quickly in response to geopolitical changes ensures steady order flow.
2 more points from Skyways Air Services's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Transport Services
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Transport Services companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹759 Cr | 23.8 | |
| 2 | 40%+ | Flat | ₹15,957 Cr | 70.8 | |
| 3 | 40%+ | Flat | ₹3,664 Cr | 24.9 | |
| 4 | 40%+ | Flat | ₹551 Cr | 15.4 | |
| 5 | 20–40% | Up 2%+ | ₹478 Cr | 6.3 | |
| 6 | 20–40% | Up 2%+ | ₹220 Cr | 7.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Transport Services rankingSkyways Air Services announcements
All announcements →- Dividend / buyback / bonusNotableSkyways Air Services Limited Q1 FY2026-27 unaudited results; IPO listed September 1, 2026
- Dividend / buyback / bonusNotableSkyways Air Services Limited announces Q1 FY 2026-27 results and CEO appointment
- Financial resultsNotableSkyways Air Services reports Q1 unaudited results, approves INR 0.25 interim dividend
Financials of Skyways Air Services
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Skyways Air Services
Shareholding breakup across reporting periods.
| Sep 2026 | |
|---|---|
| Promoters + | 56.82% |
| FIIs + | 3.42% |
| DIIs + | 7.63% |
| Public + | 32.15% |
| No. of Shareholders | 1,18,017 |
Financials of Skyways Air Services
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|
| Sales + | 639 | 788 | 1,217 |
| Expenses + | 612 | 753 | 1,167 |
| Operating Profit | 27 | 35 | 50 |
| OPM % | 4.3% | 4.4% | 4.1% |
| Other Income + | 4 | 7 | 9 |
| Interest | 11 | 13 | 17 |
| Depreciation | 4 | 4 | 4 |
| Profit before tax | 17 | 25 | 37 |
| Tax % | 34% | 12% | 28% |
| Net Profit + | 11 | 22 | 27 |
| EPS in Rs | 0.60 | 1.27 | 1.69 |
Financials of Skyways Air Services
Profit & Loss
Annual income statement trend
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Sales + | 1,670 | 1,485 | 1,289 | 2,248 | 2,813 |
| Expenses + | 1,595 | 1,419 | 1,240 | 2,160 | 2,684 |
| Operating Profit | 75 | 65 | 49 | 88 | 129 |
| OPM % | 4.5% | 4.4% | 3.8% | 3.9% | 4.6% |
| Other Income + | 6 | 12 | 28 | 23 | 26 |
| Interest | 9 | 13 | 20 | 30 | 50 |
| Depreciation | 5 | 7 | 9 | 14 | 17 |
| Profit before tax | 68 | 57 | 48 | 67 | 88 |
| Tax % | 27% | 29% | 29% | 28% | 28% |
| Net Profit + | 50 | 41 | 34 | 48 | 64 |
| EPS in Rs | 4.95 | 3.90 | 2.99 | 3.48 | 3.52 |
| Dividend Payout % | 0% | 29% | 5% | 23% | 6% |
Financials of Skyways Air Services
Balance Sheet
Capital structure and asset base
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 2 | 10 | 10 | 112 | 116 |
| Reserves | 99 | 121 | 144 | 135 | 216 |
| Borrowings + | 163 | 175 | 361 | 565 | 627 |
| Other Liabilities + | 195 | 138 | 216 | 510 | 549 |
| Total Liabilities | 460 | 444 | 731 | 1,322 | 1,508 |
| Fixed Assets + | 39 | 54 | 0 | 223 | 237 |
| CWIP | 6 | 17 | 0 | 60 | 90 |
| Investments | 0 | 0 | 20 | 28 | 29 |
| Other Assets + | 415 | 374 | 711 | 1,011 | 1,152 |
| Total Assets | 460 | 444 | 731 | 1,322 | 1,508 |
Financials of Skyways Air Services
Cash Flows
Operating, investing and financing cash movement
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from Operating Activity + | 5 | 69 | -9 | 2 | 114 |
| Cash from Investing Activity + | 21 | -76 | -131 | -152 | -179 |
| Cash from Financing Activity + | 27 | -9 | 155 | 221 | 52 |
| Net Cash Flow | 53 | -15 | 15 | 71 | -14 |
| Free Cash Flow | 18 | 36 | -65 | -57 | 55 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 43% | 132% | -1% | 35% | 109% |
Financials of Skyways Air Services
Ratios
Working capital efficiency and return ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 56 | 38 | 90 | 74 | 75 |
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 56 | 38 | 90 | 74 | 75 |
| Working Capital Days | -9 | -5 | -14 | -13 | -5 |
| ROCE % | 24% | 16% | 13% | 13% |
Continue your research
What Skyways Air Services's management said in earlier quarters
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