Skyways Air Services Ltd
Incorporated in 1984, Skyways Air Services Limited (SASL) is a leading air freight forwarding and logistics company in India.[1]
- Market Cap ₹ 1,563 Cr.
- Current Price ₹ 108
- High / Low ₹ 137 / 91.8
- Stock P/E 38.0
- Book Value ₹
- Dividend Yield 0.60 %
- ROCE 11.9 %
- ROE 12.8 %
- Face Value ₹ 10.0
Pros
- Company has been maintaining a healthy dividend payout of 21.2%
Cons
- Earnings include an other income of Rs.28.0 Cr.
* 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
Services Services Transport Services Logistics Solution Provider
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 1,365 | 1,128 | 932 | 1,347 | 1,415 | |
| Sales growth | -17% | -17% | +44% | +5% | |
| 1,307 | 1,087 | 903 | 1,303 | 1,357 | |
| Operating Profit | 58 | 41 | 30 | 44 | 58 |
| OPM % | 4.3% | 3.7% | 3.2% | 3.3% | 4.1% |
| 7 | 11 | 24 | 28 | 28 | |
| Interest | 7 | 9 | 14 | 21 | 35 |
| Depreciation | 3 | 5 | 8 | 7 | 8 |
| Profit before tax | 55 | 38 | 31 | 44 | 43 |
| Tax % | 26% | 27% | 26% | 25% | 22% |
| 41 | 28 | 23 | 33 | 34 | |
| EPS in Rs | 4.07 | 2.67 | 2.23 | 2.90 | 2.89 |
| Dividend Payout % | 0% | 42% | 6% | 28% | 29% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 8% |
| TTM: | 5% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 7% |
| TTM: | 3% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 21% |
| 3 Years: | 16% |
| Last Year: | 13% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 2 | 10 | 10 | 112 | 116 |
| Reserves | 91 | 102 | 124 | 114 | 186 |
| 121 | 124 | 266 | 383 | 397 | |
| 168 | 118 | 192 | 238 | 221 | |
| Total Liabilities | 381 | 355 | 592 | 847 | 920 |
| 13 | 22 | 28 | 67 | 81 | |
| CWIP | 0 | 5 | 17 | 17 | 26 |
| Investments | 33 | 38 | 94 | 261 | 269 |
| 336 | 289 | 453 | 502 | 545 | |
| Total Assets | 381 | 355 | 592 | 847 | 920 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 44 | 44 | -15 | -15 | 40 | |
| -79 | -55 | -91 | -115 | -135 | |
| -0 | -16 | 126 | 152 | 25 | |
| Net Cash Flow | -35 | -27 | 21 | 22 | -71 |
| Free Cash Flow | 40 | 25 | -38 | -28 | 27 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 100% | 138% | -45% | 5% | 77% |
Ratios
Standalone / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 53 | 41 | 90 | 57 | 74 |
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 53 | 41 | 90 | 57 | 74 |
| Working Capital Days | -13 | -5 | -13 | -53 | -18 |
| ROCE % | 21% | 14% | 13% | 12% |
Insights
In beta| Mar 2020 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Top 10 customer concentration (% of revenue from operations) % |
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| Pharmaceutical logistics as % of revenue % |
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| Air freight as % of revenue % |
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| Cargo Volume metric tonnes |
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| Number of countries with direct presence count |
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| Number of domestic PUD centres count |
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| Retail (direct customer) as % of revenue % |
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| Wholesale sub-agency as % of revenue % |
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Extracted by Screener AI
Documents
Announcements
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Clarification Regarding Timeline For Disclosure Of Resignation Of Mr. Kamal Kant Virthare - Associate Vice President-Human Resource (HR) - Senior Management Personnel Under Regulation 30 Of SEBI (LODR) Regulations,
2015 Read With SEBI Circular Dated January 30, 2026
- Skyways clarifies delayed disclosure of HR SMP Kamal Kant Virthare’s resignation effective 31 October 2026.
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Announcement under Regulation 30 (LODR)-Change in Management
- Skyways Air Services AVP-HR Kamal Kant Virthare resigns effective October 31, 2026.
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Disclosure Under Regulation 30 Of SEBI (Listing Obligations & Disclosure) Regulations, 2015-
Skyways Air Services Limited Received Singapore Airlines Cargo Top Partner Pan India Award 2025-
2026
- Skyways Air Services received Singapore Airlines Cargo Top Partner Pan India Award 2025–2026.
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Announcement under Regulation 30 (LODR)-Acquisition
- Skyways invests up to AED 1,203,840 in Dubai subsidiary Skyways SLS Cargo Services LLC for working capital.
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Announcement under Regulation 30 (LODR)-Acquisition
- Material subsidiary to acquire 76% of Sageroute Logistics for ₹76,000 plus ₹75.24 lakh infusion.
Concalls
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Sep 2026Transcript PPT REC
Business Overview:[1][2]
Skyways Air Services Ltd (SASL)
is an integrated logistics and freight-
forwarding company with a focus on
air cargo. The company has evolved
from a Custom House Agent into a
multi-modal logistics provider offering
air freight, ocean freight, road transportation, warehousing, customs broking, express cargo, and technology-enabled logistics solutions.