FlySBS Aviation Limited has recently received in-principle approval from the National Stock Exchange (NSE) to launch its Initial Public Offering (IPO). This is big news for the company and potential investors. But before you decide to invest or follow this IPO, it’s important to understand the company’s financial performance, how it’s growing, and how it compares to others in the aviation industry.
Let’s break it down in simple terms.
FlySBS Is Growing Rapidly
FlySBS Financial Performance Overview
FlySBS has shown a strong and steady increase in its income and profits over the last four years. Here’s a summary:
| Particulars | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|
| Total Income (₹ Cr) | 193.90 | 106.49 | 34.11 | 27.24 |
| Profit After Tax (₹ Cr) | 28.41 | 11.13 | 3.18 | 0.93 |
| Diluted EPS (₹) | 22.29 | 10.84 | 3.51 | 1.03 |
| Book Value Per Share (₹) | 117.97 | 56.56 | 9.76 | 3.82 |
As you can see, the company’s income has increased nearly seven times in just four years — from ₹27.24 crore in 2020-21 to ₹193.90 crore in 2023-24. The profit after tax (PAT) also grew from less than ₹1 crore to over ₹28 crore during the same period.
The Earnings Per Share (EPS) and Book Value per Share have also increased significantly. This means the company is generating more profit per share, and the value of each share is going up, which is a good sign for investors.
Important Ratios – What Do They Mean?
Financial ratios help us understand how well a company is doing. Here’s what FlySBS’s key ratios tell us:
| Ratio | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|
| Operating Margin | 20% | 14% | 14% | 4% |
| Net Profit Margin | 15% | 10% | 9% | 3% |
| Return on Equity (ROE) | 19% | 17% | 28% | 21% |
| Debt-Equity Ratio | 0.12 | 0.04 | 0.29 | 0.61 |
| Current Ratio | 7.28 | 5.60 | 1.80 | 2.11 |
| Dividend Payout | 0% | 0% | 0% | 0% |
- Operating and Net Profit Margins show that FlySBS is keeping more profit from each rupee it earns. This means the business is becoming more efficient.
- Return on Equity (ROE) tells us how well the company is using shareholders’ money to make profits. A high ROE is a good sign.
- Debt-Equity Ratio is very low (0.12), which means the company doesn’t have much debt. That reduces risk for investors.
- Current Ratio tells us that the company can easily pay off its short-term debts — showing strong financial health.
- The company hasn’t paid any dividends yet because it is reinvesting profits to grow the business further.
How Does FlySBS Compare to Others?
Here’s a quick comparison with two other companies in the same industry:
| Company | Market Cap (₹ Cr) | ROE (%) | D/E Ratio | P/E Ratio | Book Value (₹) |
|---|---|---|---|---|---|
| FlySBS | 574 | 18.89 | 0.12 | 20.19 | 117.97 |
| Global Vectra Helicorp | 344 | – | 21.70 | 16.20 | – |
| Afcom Holding | 2,341 | 29.90 | 0.12 | 48.30 | 88.60 |
FlySBS is valued at ₹574 crore in market cap and is stronger than Global Vectra in almost every aspect. Though Afcom Holding is larger, FlySBS holds its ground with a reasonable P/E ratio (20.19) and a healthy book value of ₹117.97.
Final Thoughts
FlySBS is showing strong performance in all areas — revenue growth, profit margins, and financial health. The company has little debt, a strong balance sheet, and growing investor interest with its upcoming IPO.
While the IPO details like price band and opening date are yet to be announced, this approval from NSE is a clear sign that FlySBS is ready to step into the spotlight. For investors looking to be part of a growing aviation brand with strong financials, this IPO could be a promising opportunity to explore.
