Skyways Air Services Limited
Company at a glance · Human reviewed · 26 Aug 2026
The business, in brief
Skyways Air Services Limited is a long-standing participant in India's air freight forwarding and logistics sector, consistently ranked No. 1 Air Freight Forwarder in terms of AWBs generation by World ACD for calendar years 2025, 2024, 2023, and 2022. It provides a comprehensive suite of services including air freight forwarding, ocean freight forwarding, trucking, warehousing, custom broking, technology driven express cargo and parcel delivery, and value-added services across domestic and international markets.
- Customer concentration
- 20.69% top 10 customers
- Total borrowings
- ₹624.06 cr Fiscal 2025-26
- Air Freight Services
- Ocean Freight Services
- Trucking / Land Freight
- Express and Courier Services
- Warehousing and Distribution
- Customs Clearance and Regulatory Compliance
- Specialized Logistics Solutions
* Estimated date based on the standard exchange timeline. Unmarked dates are exchange-reported.
Calculated at the upper band of ₹138.00 per share. Amounts exclude blocked-funds variation.
Application field guide
Shares reserved for you
Estimate is possible allottees divided by applications. Where the exchange omits application counts, the floor assumes every bid used that category's minimum bid size. Final odds depend on valid applications and the basis of allotment.
Prospectus dossier
Numbers, plans & pressure points
A focused reading of the company's reported financials, planned use of proceeds, business strengths and material risks.
A multi-year view
Figures retain the units reported in the RHP| Fiscal year | Revenue | Profit after tax | Operating cash flow | Borrowings | Net worth |
|---|---|---|---|---|---|
| 2025-26 | ₹2,812.9 cr | ₹63.52 cr | ₹113.62 cr | ₹624.06 cr | ₹494.74 cr |
| 2024-25 | ₹2,247.82 cr | ₹48.14 cr | ₹2.01 cr | ₹558.43 cr | ₹392.32 cr |
| 2023-24 | ₹1,289.11 cr | ₹34.49 cr | ₹-9.04 cr | — | ₹186.06 cr |
01 Use of funds
Where the
money goes.
03stated objects
in the filing
Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by Our Company and our Subsidiary “Forin Container Line Private Limited”.RHP p. 109
Funding incremental working capital requirements of our Company.RHP p. 109
General corporate purposes.RHP p. 109
02 Growth case
What could drive
the business.
08signals found
in the filing
Experienced Promoters with cumulative experience of more than two decades in the logistics industry.RHP p. 257
Comprehensive Range of Logistics Solutions including air cargo, ocean cargo, express cargo, warehousing, and customs clearance.RHP p. 257
Broad network of partners and performance-based agreements with major international and regional airlines.RHP p. 257
Strong collaboration with a diverse and wide-ranging customer base across multiple industry verticals.RHP p. 258
Information Technology and its Infrastructure driving Operational Effectiveness through proprietary platforms like SLS 100x and SLS Hike.RHP p. 259
Long-standing business relationships with clientele built on quality assurance and reliable delivery performance.RHP p. 260
Expansion of E-Commerce and Digital Retail driving rapid demand for fast, reliable logistics and express delivery.RHP p. 180
Infrastructure Modernization through government initiatives like Bharatmala Pariyojana, PM Gati Shakti, and Dedicated Freight Corridors (DFCs).RHP p. 181
03 Risk factors
Read the downside first.
Selected material risks disclosed in the RHP. Read these before the upside case. This summary is not a substitute for the prospectus.
100% Dependency on Carriers for Cargo Transportation
Our entire revenue is dependent upon the availability, pricing, and service quality of third-party carriers as we do not operate our own aircraft or shipping lines.
FIR Filed Against Material Subsidiary and Company
A FIR no. 172/25 at Police Station - Economic Offence Wing, Delhi has been filed jointly against our Material Subsidiary, Brace Port Logistics Limited, our Company and 7 other third parties on December 12, 2025.
Reliance on a Limited Number of Suppliers
We procure 36.01%, 31.20% and 38.29% of our cost of service for the Financial Years ended on March 31, 2026, 2025 and 2024 respectively from our Top 5 suppliers.
Geographical Concentration in Asia
Our revenue is heavily reliant on our operations within certain geographical regions, specifically Asia, which contributed 85.51% of total revenue in Fiscal 2026.
Significant Working Capital Requirements and Borrowings
We have significant working capital requirements which have historically been funded through borrowings, primarily to the tune of 86.23%, 100.00% and 82.62% of the total working capital gap for the Fiscal Year 2026, 2025 and 2024 respectively.
Live issue demand
The book, in motion
Exchange timestamp 26 Aug 2026, 5:00 pm · checked 26 Aug 2026, 9:05 pm