AFCOM Holdings Limited reported a 72.85% year-on-year increase in Profit After Tax (PAT) to ₹4,466.08 lakhs for the financial year ended March 31, 2026 (FY26). Total income for the period grew 51.52% to ₹19,188.64 lakhs, while EBITDA surged 87.80% to ₹7,408.76 lakhs. The company attributed the revenue growth to a strategic transition from wet-lease to dry-lease operations, which nearly tripled revenue compared to the previous year.

Financial Performance

The company’s Profit & Loss statement for FY26 shows total income at ₹58,772.55 lakhs, up from ₹24,100.75 lakhs in FY25. Profit Before Tax (PBT) stood at ₹15,308.55 lakhs. The balance sheet reflects a robust asset base with fixed assets valued at ₹32,205.51 lakhs and cash and bank balances of ₹6,205.66 lakhs.

Operational Highlights

AFCOM Cargo handled 24,353.42 tonnes of volume and performed 1,923 trips in FY26 under the dry-lease model. The average revenue per trip was recorded at $31,243.19, with an average cost per kg of $1.58. The company also expanded its footprint into the Australian and Pacific Region through a strategic relationship with Nauru Air Corporation of the Republic of Nauru.

Cost Structure and Efficiency

Total expenses for FY26 increased to ₹434.6 crore, constituting 74.5% of revenue. Direct expenses rose 123% to ₹317.2 crore, driven by a 922% increase in aircraft fuel costs to ₹116.6 crore and a 68% reduction in wet lease fees to ₹33.5 crore. The Return on Capital Employed (ROCE) improved to 35.62% in FY26 from 26.78% in FY25.

Investor Call Details

The company hosted an investor call on June 12, 2026, at 12:30 pm to discuss these results. The meeting was organized by Kirin Advisors and featured Capt. Deepak Parasuraman, Chairman & Managing Director, and Mr. Kannan Ramakrishnan, Whole Time Director. Ajith Kumar, Company Secretary and Compliance Officer, signed the intimation regarding the investor presentation. Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the video recording of the earnings call has been uploaded on the Company's website.

Future Outlook

Management indicated that the fourth and fifth aircraft are expected to be operational before the next quarter. The company plans to induct four Boeing 777 wide-body aircraft, with financial closure completed. The first wide-body is expected to be operational by the last quarter of FY27, with the full fleet of nine aircraft anticipated by the second half of the next calendar year. Management projects that each 777 will generate average revenue three times that of the current 737-800s.

AFCOM HOLDINGS LIMITED reported a net profit of ₹12,190.36 lakh for the financial year ended March 31, 2026, a significant increase from ₹3,693.54 lakh in the previous year. Revenue from operations surged to ₹58,310.84 lakh in FY26, compared to ₹23,871.80 lakh in FY25, driven by operational expansion. The Board of Directors approved the audited financial results for the year and quarter ended March 31, 2026, at a meeting held on May 28, 2026.

The statutory auditors, M/s. P P N and Company, issued an unmodified opinion on the financial results. These results mark the company's first financial statements prepared in accordance with Indian Accounting Standards (Ind AS), following its transition from previous GAAP. The adoption of Ind AS has resulted in the restatement of comparative figures for the previous year.

Financial Performance

The company's total income for FY26 stood at ₹58,772.55 lakh, up from ₹24,100.76 lakh in the prior year. For the quarter ended March 31, 2026, net profit was ₹4,466.08 lakh, while revenue from operations reached ₹19,033.11 lakh. Basic earnings per share (EPS) for the year increased to ₹48.73 from ₹16.47 in FY25.

Capital Raise and Utilization

During the quarter ended December 31, 2025, the company raised funds through a preferential issue of equity shares and convertible warrants. It allotted 12,10,390 equity shares at an issue price of ₹863.17, raising ₹10,447.00 lakh. Additionally, the company issued 11,65,000 convertible warrants, receiving ₹2,514.00 lakh as 25% upfront subscription. The aggregate proceeds received and credited to monitoring fund accounts as of March 31, 2026, totaled ₹12,961.00 lakh.

The proceeds are being utilized for capital expenditure, business expansion, aircraft induction-related costs, and general corporate purposes. As of March 31, 2026, the company utilized ₹70.09 crore of the proceeds, with an unutilized balance of ₹59.49 crore held in monitoring fund accounts.