Flywings targets 20-30% growth in FY27 post strong FY26
Flywings Simulator Training Centre reported a 21% YoY increase in revenue to ₹2,451.17 lacs for FY26, with net profit rising 6% to ₹1,143.34 lacs. The company has guided for 20-30% organic growth in FY27, supported by expansion into aircraft leasing and new service centres.
*this image is generated using AI for illustrative purposes only.
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:
| Particulars (₹ Lacs): | H2FY26 | H2FY25 | Change (YoY) | FY26 | FY25 | Change (YoY) |
|---|---|---|---|---|---|---|
| Revenue | 1,433.17 | 1,328.70 | 8% | 2,451.17 | 2,021.05 | 21% |
| EBITDA | 959.02 | 965.32 | -1% | 1,610.92 | 1,388.25 | 16% |
| EBITDA Margin | 66.92% | 72.65% | -574 bps | 65.72% | 68.69% | -297 bps |
| PAT | 749.44 | 878.59 | -15% | 1,143.34 | 1,078.09 | 6% |
| PAT Margin | 52.29% | 66.12% | -1,383 bps | 46.64% | 53.34% | -670 bps |
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.
Historical Stock Returns for Flywings Simulator Training Centre
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.53% | +17.00% | +18.60% | -19.76% | -6.72% | -6.72% |
How will the foray into aircraft leasing impact the company's capital structure and risk profile?
What is the expected timeline for the Panvel facility to become operational and contribute to revenue?
Will the expansion into aviation infrastructure and EPC activities sustain current EBITDA margins?
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