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Post-conflict normalization of freight rates
View Risks →AFCOM Holdings Ltd — Q4 FY26
AFCOM Holdings delivered a stellar Q4 FY26 with revenue of ₹191.88 crore (+87.8% YoY) and PAT of ₹44.66 crore (+72.85% YoY), driven by strong charter demand amid Middle East disruptions and higher yields.
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AFCOM Holdings delivered a stellar Q4 FY26 with revenue of ₹191.88 crore (+87.8% YoY) and PAT of ₹44.66 crore (+72.85% YoY), driven by strong charter demand amid Middle East disruptions and higher yields. Full-year revenue reached ₹587.72 crore (+143.86% YoY) with PAT of ₹121.90 crore (+230.05% YoY). Management guided for two narrow-body aircraft additions in Q1 FY27 and one wide-body (B777) by Q4 FY27, with conservative revenue per wide-body estimated at 3x current 737 levels. Fuel cost is fully pass-through, and the designated carrier status provides a 5-7% fuel cost benefit. Key risk: post-conflict normalization could reduce panic-driven charter demand, though structural air cargo growth in the region is expected to sustain elevated rates.
AFCOM होल्डिंग्स ने Q4 FY26 में शानदार प्रदर्शन किया। कंपनी की कमाई ₹191.88 करोड़ रही, जो पिछले साल से 87.8% ज्यादा है। मुनाफा ₹44.66 करोड़ रहा, जो 72.85% बढ़ा। इसकी वजह मिडिल ईस्ट में परेशानियों के कारण चार्टर सेवाओं की ज्यादा मांग और बेहतर किराया है। पूरे साल की कमाई ₹587.72 करोड़ (+143.86%) और मुनाफा ₹121.90 करोड़ (+230.05%) रहा। कंपनी Q1 FY27 में दो छोटे विमान और Q4 FY27 में एक बड़ा B777 विमान जोड़ेगी। बड़े विमान से कमाई मौजूदा 737 से तीन गुना ज्यादा होने का अनुमान है। ईंधन की लागत पूरी तरह वसूली जाती है। खतरा: अगर संघर्ष खत्म हुआ तो चार्टर की मांग घट सकती है, लेकिन क्षेत्र में कार्गो की बढ़ती जरूरत से किराए ऊंचे रह सकते हैं।
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Read Transcript →Quarter Snapshot
Total Trips (Q4)
602
+19.92% QoQ
Trips grew from 502 in Q3 to 602 in Q4, driven by short-haul charters amid Middle East crisis.
Yield per kg (Q4)
$2.72
+7.1% QoQ
Yield improved from $2.54 in FY26 average to $2.72 in Q4, benefiting from hardened freight rates.
Capacity Utilization (FY26)
81.42%
N/A
Overall capacity utilization for FY26 stood at 81.42%, with room for improvement as fleet expands.
Charters as % of Trips (Q4)
69%
+15pp QoQ
Charters comprised 415 of 602 trips in Q4, up from ~54% in Q3, reflecting surge in ad-hoc demand.
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Guidance and risk preview
Fourth and fifth aircraft will be operational before the next quarter (Q1 FY27).
Once Middle East tensions ease, panic-driven charter demand may subside, potentially lowering yields and revenue per trip.
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