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 ₹ 1,513 Cr.
- Current Price ₹ 104
- High / Low ₹ 137 / 103
- Stock P/E 28.3
- Book Value ₹
- Dividend Yield 0.62 %
- ROCE 13.2 %
- ROE 14.0 %
- Face Value ₹ 10.0
Pros
Cons
* 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 1,670 | 1,485 | 1,289 | 2,248 | 2,813 | |
| 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% |
| 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% |
| 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% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 24% |
| TTM: | 25% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 0% |
| TTM: | 3% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 24% |
| 3 Years: | 18% |
| Last Year: | 14% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 2 | 10 | 10 | 112 | 116 |
| Reserves | 99 | 121 | 144 | 135 | 216 |
| 163 | 175 | 361 | 565 | 627 | |
| 195 | 138 | 216 | 510 | 549 | |
| Total Liabilities | 460 | 444 | 731 | 1,322 | 1,508 |
| 39 | 54 | 0 | 223 | 237 | |
| CWIP | 6 | 17 | 0 | 60 | 90 |
| Investments | 0 | 0 | 20 | 28 | 29 |
| 415 | 374 | 711 | 1,011 | 1,152 | |
| Total Assets | 460 | 444 | 731 | 1,322 | 1,508 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 5 | 69 | -9 | 2 | 114 | |
| 21 | -76 | -131 | -152 | -179 | |
| 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% |
Ratios
Consolidated / View Standalone
| 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% |
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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Board Meeting Outcome for Outcome Of Board Meeting
- Board approved 40% Avito stake sale for Rs92.12 lakh, UAE step-down subsidiary, and Rs11 crore guarantee.
-
Announcement under Regulation 30 (LODR)-Diversification / Disinvestment
- Board approved 40% stake dilution in Avito for Rs92.12 lakh, UAE WOS, and ₹11 crore corporate guarantee.
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Proposal For Incorporation Of Wholly Owned Subsidiary Of Avito Global Freight Private Limited In Masdar City Free Zone, Abu Dhabi, United Arab Emirates, Thereby Becoming The Step Down Subsidiary Of Skyways Air Services Limited.
- Board approved 40% stake dilution in Avito for Rs.92.12 lakh, UAE step-down subsidiary, and Rs.11 crore guarantee.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
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Disclosure Under Regulation 7(2)(B) Of The SEBI (Prohibition Of
Insider Trading) Regulations, 2015
- Promoter Yashpal Sharma bought 18,000 shares on 30 September 2026, raising holding to 32.36%.
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.