FlySBS Aviation Ltd
₹ 575
-3.61%
21 Nov
1:03 p.m.
About
Incorporated in 2020, FlySBS Aviation Ltd is a Private Jet Chartering Company in India.[1]
Key Points
- Market Cap ₹ 995 Cr.
- Current Price ₹ 575
- High / Low ₹ 790 / 428
- Stock P/E 21.2
- Book Value ₹ 152
- Dividend Yield 0.00 %
- ROCE 34.6 %
- ROE 26.2 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.7%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding is low: 32.5%
- Working capital days have increased from 46.8 days to 69.9 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
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Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 16 | 27 | 34 | 106 | 194 | |
| 14 | 26 | 29 | 92 | 154 | |
| Operating Profit | 2 | 1 | 5 | 15 | 40 |
| OPM % | 13% | 4% | 14% | 14% | 21% |
| 0 | 1 | 1 | 0 | 1 | |
| Interest | 0 | 0 | 1 | 1 | 2 |
| Depreciation | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 2 | 1 | 4 | 14 | 39 |
| Tax % | 25% | 28% | 16% | 19% | 27% |
| 2 | 1 | 3 | 11 | 28 | |
| EPS in Rs | 22.29 | ||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 92% |
| TTM: | 82% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 205% |
| TTM: | 153% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 28% |
| Last Year: | 26% |
Balance Sheet
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 3 | 13 | 17 |
| Reserves | 2 | 3 | 10 | 63 | 138 | 246 |
| 2 | 5 | 3 | 3 | 18 | 23 | |
| 1 | 3 | 5 | 8 | 24 | 16 | |
| Total Liabilities | 7 | 12 | 20 | 77 | 192 | 302 |
| 0 | 0 | 0 | 5 | 5 | 7 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 7 | 12 | 20 | 72 | 186 | 294 | |
| Total Assets | 7 | 12 | 20 | 77 | 192 | 302 |
Cash Flows
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| -4 | 1 | 4 | 1 | 0 | |
| -0 | -1 | -2 | -37 | -28 | |
| 4 | -0 | 1 | 42 | 69 | |
| Net Cash Flow | 0 | 0 | 2 | 6 | 41 |
Ratios
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 46 | 80 | 64 | 23 | 39 |
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 46 | 80 | 64 | 23 | 39 |
| Working Capital Days | 61 | 31 | 19 | 52 | 70 |
| ROCE % | 22% | 43% | 35% | 35% |
Documents
Announcements
-
Monitoring Agency Report
14 November 2025 - CARE Ratings' monitoring agency report on IPO proceeds utilisation for quarter ended September 30, 2025.
-
Outcome of Board Meeting
14 November 2025 - Approved unaudited half-year results to 30 Sep 2025: Revenue ₹13,959.97 lakh, Profit ₹2,384.34 lakh; limited review.
-
Outcome of Board Meeting
14 November 2025 - Unaudited H1 (ended Sep 30, 2025) revenue Rs13,959.97L; profit Rs2,384.34L; IPO proceeds utilization disclosed.
-
Outcome of Board Meeting
14 November 2025 - Board approved unaudited financial results and limited review for quarter ended September 30, 2025.
-
Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter
13 October 2025 - FlySBS Aviation certifies governance provisions not applicable under Reg 15/27 due to exclusive SME listing.
Business Overview:[1]
FlySBSAL offers private, non-scheduled air charter services in India for elite clientele and holds a valid DGCA Air Operator Permit. Initially operating through wet lease models, it has now transitioned to a long-term dry lease, under which it operates a 13-seater Embraer Legacy 600 aircraft.