Flywings Simulator Training Centre has approved the issuance of 200 secured, redeemable, fully paid-up Non-Convertible Debentures (NCDs) aggregating to ₹20 crore on a private placement basis. The board, in its meeting held on June 11, 2026, sanctioned the allotment of these instruments to raise capital, backed by a charge over current and fixed assets. The debentures carry a high coupon rate of 18% per annum and mature in 18 months.

NCD Issue Details

The company specified that the issuance of unlisted NCDs will occur in one or more tranches. The instrument details include a specific penalty provision for delays in payment of interest or principal exceeding three months, attracting a charge of 2% per month. The securities will not be listed on any stock exchange.

Board Appointments

Alongside the capital raising approval, the board appointed Catalyst Trusteeship Limited as the Debenture Trustee for the issue. Additionally, Mr. Nishant Sharma was appointed as the Internal Auditor of the company for the financial year 2026-27. This appointment aims to ensure compliance with Section 138 of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Sharma is a Commerce Graduate from the University of Delhi and a qualified CA Intermediate (IPCC). He brings over 10 years of experience in accounting, auditing, taxation, and regulatory compliance, having previously worked with reputed chartered accountancy firms on statutory audits and SME IPO assignments.

Flywings Simulator Training Centre reported a 21% year-on-year increase in revenue to ₹2,451.17 lacs for the financial year ended March 31, 2026, driven by strong demand for aviation training infrastructure. The company's net profit for the year rose 6% to ₹1,143.34 lacs, while EBITDA grew 16% to ₹1,610.92 lacs. Management has provided guidance for FY27, expecting the company to grow by 20–30% organically, supported by a foray into the aircraft leasing business and expansion of new service centres.

Financial Performance

The company delivered steady standalone financial performance for the year ended March 31, 2026. Revenue from operations rose to ₹2,451.17 lacs from ₹2,021.05 lacs in the previous year. Total revenue, including other income of ₹130.87 lacs, stood at ₹2,582.04 lacs compared to ₹2,364.33 lacs previously. Other expenses increased during the year, partly due to a provision for bad debts of ₹181.84 lacs.

The following table summarises the financial results for FY26 and FY25:

Strategic Developments

During the year, Flywings Simulator Training Centre received DGCA approval to conduct Safety & Emergency Procedures (SEP) training for both flight and cabin crew. The company reallocated IPO proceeds towards leasing two Airbus A320neo Full Flight Simulators (FFS) for 10 years to strengthen pilot training capabilities. Additionally, the firm announced plans for a new simulator facility at Panvel, Maharashtra, and expanded its business scope into aviation infrastructure and EPC related activities.

Balance Sheet and IPO Funds

The standalone balance sheet as at March 31, 2026 reflects significant growth in the company's asset base. Total assets stood at ₹10,778.78 lacs, up from ₹6,641.43 lacs in the previous year. Total equity improved substantially to ₹8,964.99 lacs from ₹3,856.82 lacs. Cash and cash equivalents grew to ₹2,364.35 lacs from ₹567.87 lacs.

The company had raised funds through its IPO by issuing 29,86,800 equity shares with a face value of ₹10 each at an issue price of ₹191 per share, aggregating to ₹57,04,78,800. The equity shares were listed on the SME Platform of the National Stock Exchange of India Limited on December 12, 2025. Statutory auditor Jain and Jain LLP confirmed that ₹19.31 crore of the net proceeds were utilized during the half year ended March 31, 2026, with no deviation from the original allocation plans.