SKYWAYS

Skyways Air Services Limited

Skyways Air Services Limited (SKYWAYS) financial statements and selected valuation metrics through 30 September 2026.

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Key metrics

Price as of 2026-11-13

Stock price

₹116.24

Market cap

1,689 Cr

Stock P/E

32.7 · FY26

P/B

2.32

ROE (FY26)

8.3%

ROCE (FY26)

12.1%

Operating margin (FY26)

3.9%

Debt / equity (FY26)

1.88

OCF / EBITDA (3Y)

40.8%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What we see

Positives

✓Revenue grew 25% in the latest year — strong top-line momentum.

Concerns

✗Net margin is very thin at 2.3% — little room for error if costs rise.

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Quarterly results

Quarterly · ₹ Cr · click a figure for its source · Ctrl-click to pick several to share

Metric	Jun 2026	Sept 2026
Sales	1,217	1,311
Operating expenses (approx.)	1,167	1,253
EBITDA	50	58
OPM %	4.1%	4.4%
Other income	9	5
Interest	17	12
Depreciation	4	5
Profit before tax	37	47
Tax %	28.1%	29.6%
Net profit	27	33
EPS (₹)	1.69	1.91

1,234 from the company's filing1,234 calculated by BullKarma

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · click a figure for its source · Ctrl-click to pick several to share

Metric	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	1,289	2,248	2,813	Sign in free for the trailing twelve months
Operating expenses (approx.)	1,241	2,162	2,686	Sign in free for the trailing twelve months
EBITDA	48	86	127	Sign in free for the trailing twelve months
OPM %	3.7%	3.8%	4.5%	Sign in free for the trailing twelve months
Other income	28	23	27	Sign in free for the trailing twelve months
Interest	19	29	48	Sign in free for the trailing twelve months
Depreciation	9	14	17	Sign in free for the trailing twelve months
Profit before tax	48	67	88	Sign in free for the trailing twelve months
Tax %	28.7%	28.3%	27.6%	Sign in free for the trailing twelve months
Net profit	34	48	64	Sign in free for the trailing twelve months
EPS (₹)	2.99	3.71	3.56	Sign in free for the trailing twelve months
Dividend payout %	—	—	—	Sign in free for the trailing twelve months

1,234 from the company's filing1,234 calculated by BullKarma

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · click a figure for its source · Ctrl-click to pick several to share

Metric	Mar 2024	Mar 2025	Mar 2026
Equity capital	10	112	116
Reserves	144	135	216
Borrowings	357	558	624
Other liabilities	247	371	389
Total liabilities	790	1,322	1,508
Fixed assets (net)	70	110	122
CWIP	30	44	75
Investments	20	28	29
Inventories	0.41	0.72	0.79
Trade receivables	318	456	579
Cash & bank	70	141	128
Other assets	282	542	574
Total assets	790	1,322	1,508

1,234 from the company's filing1,234 calculated by BullKarma

Cash flows

Annual · ₹ Cr · last column includes FCF · click a figure for its source · Ctrl-click to pick several to share

Metric	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	-9	2	114
Cash from investing	-131	-152	-179
Cash from financing	155	221	52
Net cash flow	15	71	-13
Free cash flow (OCF − Capex)	-65	-57	55

Ratios

Metric	Mar 2024	Mar 2025	Mar 2026
ROCE %	12.4%	10.1%	12.1%
ROE %	16.8%	10.0%	8.3%
PBT margin %	3.8%	3.0%	3.1%
Cash conversion cycle	23	30	25
OCF / EBITDA % (3 years)	—	—	40.8%
Debt / equity	2.32	2.26	1.88
Net debt / EBITDA	5.94	4.84	3.92
EBITDA / interest	2.57	2.99	2.63

1,234 from the company's filing1,234 calculated by BullKarma