Flysbs Aviation Annual Reports, Balance Sheet and Financials

Flysbs Aviation Limited Standalone Balance Sheet (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Shareholders’ Funds
Share Capital	321.02	215.00
Reserve and Surplus	6,278.09	924.25
Non-Current Liabilities
Long term Borrowings	57.11	26.89
Deferred Tax Liability	127.13	0.19
Current Liabilities
Short term Borrowings	198.48	308.86
Trade Payable	47.66	18.05
Provisions	229.69	100.23
Other Current Liabilities	391.40	171.09
Total Equity and Liabilities	7,650.58	1,764.56
Non-Current Assets
Property, Plant and Equipment	804.35	7.53
Long Term Loans and Advances	1,994.48	678.59
Current Assets
Inventory	671.48	-
Trade Receivable	659.91	597.71
Cash And Cash Equivalents	833.42	253.47
Short term Loans and Advances	311.60	-
Other current assets	742.93	188.26
Miscellaneous Expenditure
Pre-Operative Expenses	19.50	39.00
Entry into Service (EIS) Cost	1,612.91	-
Total Assets	7,650.58	1,764.56

 Flysbs Aviation Limited Standalone Profit & Loss Statement (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Income
Revenue from Operation	10,648.69	3,410.72
Other Income	0.37	23.70
Total Revenue	10,649.06	3,434.42
Expenditure
Purchase of Spares & Consumables	981.77	-
Changes in Inventory	-671.48	-
Direct Costs	8,505.81	2,652.30
Employee Benefit Expenses	86.93	61.82
Finance Cost	76.10	110.02
Depreciation and amortisation expenses	95.32	1.13
Other Expenses	181.01	231.37
Total Expenses	9,255.46	3,056.64
Profit before Tax	1,393.60	377.77
Current Tax	153.57	59.96
Deferred Tax	126.94	0.02
Profit for the period	1,113.08	317.80
Earnings per Equity Share:
Basic	42.76	15.63
Diluted	42.76	15.63
No. of Shares used in Computing EPS	2602805	2033375

 Flysbs Aviation Limited Standalone Cash Flow Statement (Rs in Lakhs)

Particulars	31-03-2024	31-03-2023
Cash Flow from Operating Activities
Net Profit before Tax	1,393.60	377.77
Adjustment for:
Depreciation and Amortization	114.82	20.63
Interest Expenses	76.10	110.02
Interest Income	-0.37	-0.08
Cash Flow before adjustment for Working Capital changes	1,584.16	508.35
Adjustment for Working Capital changes:
Trade Receivables	-62.19	-189.55
Other Current Assets	-554.67	-87.34
Inventory	-671.48	-
Short Term Loans and Advances	-311.60	-43.36
Trade Payables	29.61	-86.88
Other Current Liabilities	220.31	88.76
Cash Flow from Operations	234.13	189.98
Income Tax Paid	-24.11	-
Net Cash Flow From Operating Activates	210.01	189.98
Cash Flow from Investing Activities
Acquisition of Property, Plant and Equipment	-833.17	-
Entry in to Service (EIS) cost	-1,671.89	-
Long term Loans & Advances	-1,315.88	-267.09
Interest Income	0.37	0.08
Net Cash Flow From Investing Activities	-3,820.58	-267.00
Cash Flow from Financing Activities
Issue of Shares	4,346.77	375.00
Long term Borrowings	30.22	-244.92
Short Term Borrowings	-110.38	306.81
Interest Expenses	-76.10	-110.02
Net Cash Flow From Financing Activities	4,190.51	326.87
Net Increase /(Decrease) In cash & Cash Equivalents	579.95	249.85
Cash  & Cash equivalents at the beginning of the Year	253.47	3.62
Cash  & Cash equivalents at the end of the Year	833.42	253.47

Here is a summary of the Cash Flow Statement for the years 2024 and 2023:

Cash Flow from Operating Activities

In FY 2023–24, the company recorded a net profit before tax of ₹1,393.60 lakhs, a substantial rise compared to ₹377.77 lakhs in FY 2022–23. When adjusted for non-cash expenses like depreciation (₹114.82 lakhs) and interest expenses (₹76.10 lakhs), along with minor interest income adjustments, the cash flow before working capital changes stood at ₹1,584.16 lakhs, indicating strong operational profitability.

However, working capital changes impacted cash flows negatively. Significant increases in inventory (-₹671.48 lakhs), other current assets (-₹554.67 lakhs), and short-term loans and advances (-₹311.60 lakhs) indicate either business expansion or operational inefficiencies. Partial offset came from a rise in other current liabilities (+₹220.31 lakhs) and a modest increase in trade payables (+₹29.61 lakhs). After factoring in these adjustments and tax paid of ₹24.11 lakhs, the net cash from operations stood at ₹210.01 lakhs, slightly improved from ₹189.98 lakhs in FY 2023.

Cash Flow from Investing Activities

FY 2023–24 saw a significant investment outflow of ₹3,820.58 lakhs, compared to just ₹267 lakhs the previous year. Major components of this outflow included acquisition of property, plant, and equipment (₹833.17 lakhs) and a large expense on Entry Into Service (EIS) costs (₹1,671.89 lakhs), likely tied to a new business vertical or capital expansion. Additionally, long-term loans and advances increased by ₹1,315.88 lakhs, perhaps for project funding or strategic partnerships. Minimal interest income was earned (₹0.37 lakhs), consistent with previous year levels. The aggressive capital spending suggests a growth phase, but it put a heavy burden on cash reserves.

Cash Flow from Financing Activities

To fund its investments, the company raised ₹4,346.77 lakhs via share issuance, a significant jump from ₹375 lakhs the previous year. This equity infusion, combined with a net increase in long-term borrowings (₹30.22 lakhs), helped offset the investment outflow. On the other hand, short-term borrowings decreased by ₹110.38 lakhs, and interest expenses of ₹76.10 lakhs were paid. The net cash inflow from financing activities was ₹4,190.51 lakhs, which comfortably financed the investment outflow and supported operational cash needs.

Net Cash Position and Closing Balance

Overall, the company ended FY 2023–24 with a net increase in cash and cash equivalents of ₹579.95 lakhs, more than double the increase seen in FY 2022–23 (₹249.85 lakhs). Starting from a balance of ₹253.47 lakhs, the year closed with ₹833.42 lakhs in cash, reflecting strong capital management despite high investment activity.

 Financial Ratios of Flysbs Aviation Limited

Particulars	2024	2023
Current Ratio	2.94	1.74
Quick Ratio	2.17	1.74
Debt Equity Ratio	0.06	0.32
Debt Service Coverage Ratio	13.55	155.58
Return on Equity Ratio	0.17	0.28
Trade Receivables Ratio	16.94	6.83
Trade Payables Turnover Ratio (days)	296.89	47.9
Net Capital Turnover Ratio	4.28	7.65
Inventory Turnover Ratio	0.92	-
Net Profit Ratio	10.46%	9.25%
Return on Capital Employed	20.54%	32.39%
Return on Investment	347.00%	147.81%

Here is a summary of the financial and operational metrics for Flysbs Aviation Limited for the year 2024 and 2023:

Current Ratio

The current ratio measures a company’s ability to cover its short-term obligations with its short-term assets. A ratio of 2.94 indicates strong short-term liquidity, meaning the company has nearly 3 times more current assets than current liabilities. In contrast, a ratio of 1.74 still indicates acceptable liquidity, though not as strong.

Quick Ratio

The quick ratio excludes inventories from current assets, focusing only on the most liquid assets. The first value of 2.17 suggests a strong ability to pay off current liabilities. The second ratio (1.74) shows a slightly less favorable position but still above the critical 1:1 benchmark

Debt-Equity Ratio

This ratio compares the company’s total debt to shareholders ' equity. A lower value (0.06) suggests minimal reliance on borrowed funds, indicating a conservative capital structure.

Debt Service Coverage Ratio (DSCR)

DSCR indicates the company’s ability to service its debt using its operating income. A ratio of 13.55 is already very healthy, showing the company generates over 13 times its debt obligations. The second value (155.58) is exceptionally high, indicating extremely strong debt-servicing capacity—possibly due to low debt or a one-off spike in earnings.

Return on Equity (ROE)

ROE shows how efficiently a company is using shareholders ' equity to generate profit. An increase from 17% to 28% suggests improved profitability and better management of equity capital. Higher ROE is generally positive, but extremely high values warrant scrutiny of risk levels and financial strategies.

Trade Receivables Turnover Ratio

This ratio measures how efficiently a company collects receivables. A higher ratio (16.94) implies faster collections, better credit management, and stronger cash flows. The lower figure (6.83) indicates slower receivable turnover, possibly due to relaxed credit terms or collection inefficiencies.

Trade Payables Turnover Ratio (in days)

This shows how long a company takes to pay its suppliers. A drastic jump to 296.89 days implies the company is taking much longer to settle its dues, which could improve cash flow but may strain supplier relationships. Conversely, 47.9 days is more typical and suggests timely payments.

Net Capital Turnover Ratio

This ratio measures how effectively the company uses working capital to generate sales. A higher value (7.65) suggests more efficient use of capital in generating revenue. The drop to 4.28 may point to increased working capital or reduced sales, signaling less efficient operations.

Inventory Turnover Ratio

The ratio indicates how many times inventory is sold and replaced during a period. A low value of 0.92 suggests slow-moving inventory, which could lead to higher holding costs and potential obsolescence. The absence of a second value may mean inventory data was not available or relevant for that period/entity.

Net Profit Ratio

This ratio shows the percentage of revenue that remains as profit after all expenses. An increase to 10.46% indicates improved cost control or higher margins, while 9.25% is still solid, reflecting decent profitability.

Return on Capital Employed (ROCE)

ROCE measures how efficiently the company uses its capital to generate profit. The higher figure (32.39%) suggests stronger efficiency and higher returns, potentially due to better asset utilization or margin expansion.

Return on Investment (ROI)

A staggering ROI of 347% shows extremely high profitability from investments, significantly outperforming the already impressive 147.81%. This could be due to successful project execution, low capital investment, or one-time gains.