Skyways Air Services Ltd(SKYWAYS)

NSE: SKYWAYSBSE: 544890

₹ 96-3.86%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 1,395 crWebsite: www.skyways-air.inUpdated: 24 Oct 2026

About

Skyways Air Services Ltd is an India-based international logistics solutions provider offering air and ocean freight forwarding, express cargo, customs broking, warehousing, and contract logistics across twelve countries. Air cargo contributed 80.3% of consolidated revenue in Q1 FY27, when the group handled 23,486 tons of air cargo and 8,022 ocean TEUs. Between 2022 and 2025, WorldACD ranked Skyways first in India for air waybills generated, and it held a 6.2% share of India's air export market in Q1 FY27, ranked #44 globally by WorldACD.^[1][2]

Business segments

Air cargo accounted for 80.3% of consolidated revenue in Q1 FY27, generating Rs. 97,637 lakhs, up 97% YoY.^[1]
Ocean freight forwarding generated Rs. 422.60 crore in FY26, working with lines including Hapag-Lloyd, ONE, COSCO, Wan Hai, Sea Lead, and Evergreen.^[2]
Express cargo and parcel delivery earned Rs. 162.78 crore in FY26 from 2,25,194 orders, a 25.88% annual growth rate since inception.^[2]
Land freight contributed Rs. 38.68 crore and value-added services (logistics planning, documentation, supply chain consulting) Rs. 17.26 crore in FY26.^[2]
Pharmaceuticals represent approximately 23% of revenue in Q1 FY27, up from 8 - 9% before the Odyssey acquisition.^[1]

Key operating numbers

Air cargo volume reached 23,486 tons in Q1 FY27, up 23% YoY from 19,095 tons in Q1 FY26; yield rose 60% YoY to Rs. 416/kg from Rs. 259/kg.^[1]
Ocean freight TEUs shipped grew 17.7% YoY to 8,022 in Q1 FY27 from 6,817; yield per TEU rose 39.3% YoY to Rs. 1,90,258 from Rs. 1,36,596.^[1]
Express cargo delivered 59,746 shipments in Q1 FY27, with revenue up 63.7% YoY to Rs. 6,259 lakhs from Rs. 3,824 lakhs in Q1 FY26.^[1]
Odyssey subsidiary standalone revenue grew from approximately Rs. 130 crore to Rs. 182 crore quarter-on-quarter as of Q1 FY27.^[1]
Net fixed asset turnover was 14.14 times in FY26, reflecting capital-light operations through an international partner network.^[2]

Market position

WorldACD ranked Skyways first in India for air waybills generated every year from 2022 to 2025.^[2]
India air export market share strengthened from 5.9% to 6.2% quarter-on-quarter in Q1 FY27; Skyways grew air export volumes 19% vs India market growth of 3.8%.^[1]
Skyways is ranked #44 globally among air freight forwarders by WorldACD as of Q1 FY27.^[1]

Operations and network

Skyways operates in twelve countries with a domestic network in 28 cities across twelve states and union territories as of FY26.^[2]
The express parcel network covers 1,204 PIN codes with 31 pickup and delivery centres in FY26, up from 1,114 PIN codes and 24 centres in FY25.^[2]
The group operates five warehouses; the main facility at ACLC 2 near Indira Gandhi International Airport is 10,975 sq ft and includes a 318-sq-ft pharmaceutical cold storage unit.^[2]
A dedicated cold storage facility sits 60 metres from the air cargo terminal at Indira Gandhi International Airport, with continuous temperature monitoring and 24/7 surveillance.^[2]
A second warehouse at Kempegowda International Airport supports South India operations; direct warehousing revenue was Rs. 3.68 crore in FY26.^[2]
Road transport subsidiary operates a fleet of 95 trucks and minibuses for full and partial loads as of FY26.^[2]
The group employs 1,193 people and is part of six international logistics networks comprising over 26,300 partners and exclusive agents worldwide as of FY26.^[2]

Technology platforms

Proprietary platforms include SLS 100X (rate discovery and booking, 5,587 registered users), SLS Hike (shipment lifecycle), Cargo Dash (operational dashboards), and Skart-Edge (courier booking) as of FY26.^[2]
Integrated multimodal customer platform ASAP (air, ocean, express, trucking) is in pilot testing for three of four transport modes as of Q1 FY27, with launch targeted within 30 - 60 days.^[1][2]

Expansion and capex

Board approved Rs. 30 crore for entry into five new Asian geographies including China, Philippines, and Malaysia; new offices expected to reach EBITDA break-even in 15 - 18 months.^[1]
Rs. 20 crore incremental investment approved for existing international subsidiaries in UAE, Saudi Arabia, and Vietnam, targeting completion by FY28.^[1]
Annual group capex guidance is approximately Rs. 35 - 40 crore per year for warehouses, offices, and other infrastructure.^[1]
A new cold chain warehouse project was targeted to become operational in Q2 FY27.^[1]

Recent developments

Post-IPO, approximately Rs. 140 crore of borrowings repaid to financial institutions and banks as of Q1 FY27; interest cost reduction expected to reflect in Q3 and Q4 FY27.^[1]
CARE assigned a long-term rating of CARE A; Stable for bank loan facilities of Rs. 221.00 crore and CARE A1 short-term rating for Rs. 9.00 crore during FY26.^[2]
Skyways acquired CTC Air Carrier in 2024 and Rahat Continental Pvt Ltd / RIV Worldwide Ltd in 2023.^[2]
Skyways is empanelled as a customs house agent to handle and clear exhibition cargo at Bharat Mandapam for the India Trade Promotion Organisation.^[2]

Market Cap

₹1,395 Cr

High / Low

₹137 / 101

Promoter holding

56.8%

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