Read the quarter in context.
A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹191.88 Cr
verification pending
Revenue YoY
87.8%
reported change
EBITDA
₹74.08 Cr
latest reported figure
Source
bse pending
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
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.
Colored figures show movement against the previous available record.
Guidance to track
- Fourth and fifth aircraft will be operational before the next quarter (Q1 FY27).
- First wide-body will be operational in the last quarter of FY27, with conservative revenue estimate of 3x current 737 per month.
- Entire fleet of nine aircraft will be operational by the second half of calendar year 2027.
- 100% of ATF cost increase is passed to customers via fuel surcharge; designated carrier status provides 5-7% benefit on overall fuel cost.
Risks flagged
- Once Middle East tensions ease, panic-driven charter demand may subside, potentially lowering yields and revenue per trip.
- Third aircraft (VT-AFN) was held back for a large contractual flying commitment, and one aircraft was down for maintenance, impacting short-term utilization.
- ₹33 crore of tax is outstanding, leading to non-deductible interest expense; management acknowledged the issue but provided no concrete timeline for resolution.
- Ind AS adjustments including forex losses and maintenance reserve provisioning inflated reported cost per kg, masking underlying operational efficiency.
Key quotes
- What goes the only thing that goes up doesn't come down fully is the prices and we like that.
- The demand is high we are short of capacity and every aircraft that comes every kg of capacity that we put in will be fully utilized.
- We have raised the equity through preferential allotment of shares and QIP and that will take care of the expansion of addition of the 777 units.
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