Chennai-based premium charter aviation operator, FlySBS Aviation, has reported an exceptional performance for H1 FY26, continuing its impressive growth momentum from FY25. The company, which recently concluded a stellar IPO debut on NSE Emerge in August 2025, has once again reinforced investor confidence with robust top-line growth and steady profitability, even amid a volatile aviation environment.
FlySBS Aviation H1 FY26 Results
FlySBS Aviation clocked INR 138 crore in revenue for H1 FY26 — a 64.38% year-on-year (YoY) jump from INR 84 crore in H1 FY25 and a 24.89% half-on-half (HoH) growth over INR 110 crore in H2 FY25.
The company’s EBITDA rose to INR 31 crore, up 282.48% YoY, though it declined 2.13% sequentially. EBITDA margins stood at 23%, expanding a remarkable 1,289 basis points YoY, albeit easing from 29% in H2 FY25 due to higher operating costs linked to fleet expansion and international operations.
Net profit (PAT) surged to INR 24 crore, marking a 358% YoY increase, with a mild sequential growth of 2.76% over H2 FY25. Earnings per share (EPS) came in at INR 16.86, up 14.85% YoY but lower 16.2% HoH, reflecting dilution from IPO-related equity issuance.
FlySBS Aviation H1 FY26: Financial Comparison
H1 FY26 vs H1 FY25
| Metric | H1 FY25 | H1 FY26 | YoY Change (%) |
|---|---|---|---|
| Revenue | 83.71 | 137.60 | +64.38 |
| EBITDA | 8 | 31 | +282.48 |
| EBITDA Margin (%) | 10% | 23% | +1,289 bps |
| PAT | 5.20 | 23.84 | +358.22 |
| EPS (INR) | 14.68 | 16.86 | – |
FlySBS Aviation H1 FY26 vs H2 FY25
| Metric | H2 FY25 | H1 FY26 | HoH Change (%) |
|---|---|---|---|
| Revenue | 110.18 | 137.60 | +24.89 |
| EBITDA | 32 | 31 | -2.13 |
| EBITDA Margin (%) | 29% | 23% | -624 bps |
| PAT | 2.32 | 2.38 | +2.76 |
| EPS (INR) | 20.14 | 16.86 | – |
IPO Success and Rapid Business Expansion
FlySBS Aviation, a DGCA-approved non-scheduled airline operator, went public in August 2025 with a fresh issue of 45.57 lakh shares at INR 210–225 per share. The IPO was oversubscribed 318.75 times overall and listed at INR 427.50, up 90% from the issue price, closing the debut day nearly 99.5% higher at INR 448.85.
The company has demonstrated consistent financial growth, with revenue jumping from INR 34.1 crore in FY23 to INR 193.9 crore in FY25, and net profit rising eightfold from INR 3.4 crore to INR 28.4 crore in the same period.
FlySBS Aviation H1 FY26: Operational Strength
FlySBS operates a 13-seater Embraer Legacy 600 aircraft under a dry lease model. Flying hours have grown sharply — 2,600 in FY25, up from 1,486 in FY24 and 522 in FY23 — driven largely by international charters. Corporate clients contribute over 94% of revenues, and operations now span six continents, underscoring its growing global footprint in premium business aviation.
Margin Volatility Worth Watching
While topline momentum remains robust, analysts caution that EBITDA margin compression in H1 FY26 could signal cost pressures from expanded routes and maintenance overheads. However, the company’s strong cash generation and minimal leverage (Debt/Equity: 0.14 in FY25) offer headroom for sustainable expansion.
FlySBS’s post-IPO liquidity and management’s focus on high-margin international charters position it well for continued growth, though near-term profitability may fluctuate with operational scaling.
Outlook
FlySBS Aviation H1 FY26 results signal that the company is set for another record year. The company’s niche focus on premium corporate clients, expanding fleet utilisation, and post-IPO visibility strengthen its positioning as a leader in India’s luxury aviation niche.
Investors will be watching for H2 FY26 performance — where sustaining margin recovery and scaling international operations could define the next phase of FlySBS’s growth story.
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