As of 6 Nov 2026, Skyways Air Services trades at 27.1× trailing earnings, above the industry P/E of 16.1×, and the shares are 23% below their 52-week high. Sales and net profit grew 24% and 5.4% a year over 3 years, with ROCE of 22% and ROE of 14%. Debt is 1.27× equity, and its dividend yield is 0.8%. It is a small-cap company with a market cap of ₹1,541 Cr, ranked 10th of 43 Integrated Freight & Logistics companies by market cap; the shares fell 16% over the past year.
- ₹105.05
- ₹107.22
- ₹103.81
- ₹107.51
- 4.1 L
Health check
- ReturnsIn line
−15.6% over a year, better than 3 of 7 peers.
- Price tagPricier
P/E 27.1 vs industry 16.1.
- GrowthSteady
Sales +23.7%, profit +5.4% a year over 3 years.
- ProfitabilityStrong
ROCE 21.9% vs peer median 9.0%.
- Balance sheetFair
Debt 1.27× equity, interest covered 2.9×, Piotroski 6 of 9.
- Red flags2 to check
P/E of 27.1 against an industry P/E of 16.1.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹1,541 Cr
- Small cap
- P/E
- 27.1
- Industry 16.1
- Price to book
- 3.71
- Peers 3.34
- Dividend yield
- 0.85%
- ROE
- 14.1%
- Peers 9.6%
- ROCE
- 21.9%
- Peers 9.0%
- Debt to equity
- 1.27
- Debt ₹627 Cr
- EPS (TTM)
- ₹3.91
- Face value ₹10
- OPM (TTM)
- 3.7%
- Net margin 1.6%
- Sales growth
- +90.1%
- Latest quarter vs a year ago
- Profit growth
- +190.2%
- Latest quarter vs a year ago
- Price to sales
- 0.45
- EV/EBITDA 12.6
Strengths and risks
Strengths
- Return on capital employed of 21.9%.
- Quarterly profit up 190.2% on a year ago.
- Quarterly sales up 90.1% on a year ago.
Risks to check
- P/E of 27.1 against an industry P/E of 16.1.
- Interest coverage of only 2.8×.
About Skyways Air Services
Skyways Air Services Limited operates as a logistics and freight forwarding service provider. The company offers freight forwarding, trucking, warehousing, customs brokerage, technology driven express cargo, and parcel delivery, as well as value-added services domestic and international markets. It also provides live animal transport and dangerous goods logistics services. The company was incorporated in 1984 and is headquartered in New Delhi, India.
- Headquarters
- New Delhi
- Sector
- Industrials
- ISIN
- INE0PX301025
- Website
- skyways-air.in
Price range
- Avg volume (3M)
- 70.2 L
- 1-year return
- minus 15.6%
- From 52-week high
- minus 22.8%
Peers · Integrated Freight & Logistics
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DELHIVERYDelhivery | 428.00 | minus 0.48% | 32,080 | 176.9 | 3.28 | 2.6% | 1.9% | 0.1% | 13.2% | – | 0.00% | minus 11.3% |
| SHADOWFAXShadowfax Technologies | 288.25 | minus 0.88% | 16,971 | 67.3 | 8.95 | – | 17.4% | 6.2% | 43.7% | – | 0.00% | plus 162.1% |
| BLUEDARTBlue Dart Express | 4,541.30 | minus 0.76% | 10,776 | 34.8 | 6.06 | 16.9% | 14.8% | 6.7% | 5.9% | −12.6% | 0.55% | minus 28.2% |
| TCITransport Corporation of India | 861.45 | minus 1.38% | 6,485 | 14.4 | 2.37 | 18.1% | 17.7% | 7.6% | 9.1% | 12.9% | 1.16% | minus 26.1% |
| LEAPINDLEAP India | 121.97 | plus 0.05% | 5,373 | 71.7 | 3.34 | 9.0% | 9.6% | 22.9% | 42.4% | 90.5% | 0.00% | minus 15.8% |
| TVSSCSTVS Supply Chain Solutions | 117.07 | minus 1.62% | 5,174 | 80.2 | 2.54 | 9.0% | 6.0% | 2.3% | 3.3% | 42.1% | 0.00% | minus 8.2% |
| MAHLOGMahindra Logistics | 421.10 | plus 0.10% | 4,181 | 55.8 | 3.48 | – | 7.1% | 2.3% | – | – | 0.59% | plus 22.2% |
| SKYWAYSSkyways Air Services | 106.01 | minus 1.40% | 1,541 | 27.1 | 3.71 | 21.9% | 14.1% | 3.7% | 23.7% | 5.4% | 0.85% | minus 15.6% |
| Median of 7 peers | – | −0.76% | 6,485 | 67.3 | 3.34 | 9.0% | 9.6% | 6.2% | 11.2% | 27.5% | 0.00% | −11.3% |
Quarterly results
| ₹ Cr | Mar 25 | Jun 25 | Jun 26 |
|---|---|---|---|
| 38.3 | 640 | 1,217 | |
| 42.8 | 616 | 1,171 | |
| −4.5 | 24.1 | 45.5 | |
| −11.6% | 3.8% | 3.7% | |
| 0.6 | 3.5 | 8.8 | |
| 0.5 | 10.8 | 17.1 | |
| 4 | – | – | |
| −8.4 | 16.8 | 37.3 | |
| 30.5% | 34.5% | 28.1% | |
| 2 | 6.8 | 19.7 | |
| – | 0.60 | 1.69 |
Profit & loss
- Sales CAGR 3Y
- +23.7%
- Profit CAGR 3Y
- +5.4%
- EPS CAGR 3Y
- −2.1%
- ROE
- 14.1%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,484 | 1,289 | 2,248 | 2,813 | |
| – | minus 13.1% | +74.4% | +25.1% | |
| 1,424 | 1,239 | 2,158 | 2,684 | |
| 60.5 | 50.3 | 89.3 | 129 | |
| 4.1% | 3.9% | 4.0% | 4.6% | |
| 10.3 | 19.5 | 15.2 | 19.1 | |
| 12.2 | 18.4 | 28.3 | 45.8 | |
| 5.6 | 8.9 | 13.7 | 16.7 | |
| −0 | 5.9 | 4.6 | 1.9 | |
| 53 | 48.4 | 67.1 | 87.7 | |
| 28.5% | 28.7% | 28.3% | 27.6% | |
| 35 | 31.3 | 39.2 | 41 | |
| – | minus 10.8% | +25.3% | +4.7% | |
| 3.01 | 2.15 | 2.69 | 2.82 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 10.4 | 10.4 | 112 | 116 | |
| 115 | 144 | 135 | 216 | |
| 182 | 364 | 565 | 627 | |
| 141 | 272 | 510 | 549 | |
| 448 | 790 | 1,322 | 1,508 | |
| 62.8 | 111 | 162 | 200 | |
| 12.9 | 35.1 | 45.2 | 76.6 | |
| – | – | 0 | – | |
| 28.8 | 43.5 | 164 | 147 | |
| 344 | 601 | 951 | 1,084 | |
| 448 | 790 | 1,322 | 1,508 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 71.6 | −9 | 2 | 114 | |
| −76.2 | −131 | −152 | −179 | |
| −10.7 | 155 | 221 | 52.1 | |
| −15.2 | 15.3 | 71.2 | −13.4 | |
| −32.7 | −56.4 | −58.9 | −58.5 | |
| 38.9 | −65.5 | −56.9 | 55.1 | |
| −11.6 | −1.5 | −4.2 | −2.2 |
Shareholding pattern
- Promoters56.82%
- Public43.18%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 56.82% | 43.18% | 0.00 | |
| 31 Aug 2026 | 56.82% | 43.18% | – |
Major shareholders
Filings & events
News
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