Divya Agarwal
AAI issues Letter of Intent for establishment of FTO at Dholera Airport; Company also advances IFSC GIFT City and Maharashtra expansion plans, while FY26 Net Profit rises 8% YoY
Gurugram (Haryana) [India], August 11: Flywings Simulator Training Centre Limited (NSE SYMBOL: FWSTC), an aviation training and allied services company, has received a Letter of Intent (LOI) from the Airports Authority of India (AAI) for the establishment of a Flying Training Organisation (FTO) at Dholera Airport, Gujarat.
Highlights:-
- AAI issues Letter of Intent for establishment of a Flying Training Organisation (FTO) at Dholera Airport, Gujarat, subject to applicable agreements and approvals.
- Board approves presence in IFSC GIFT City, Gujarat to explore opportunities in aircraft and simulator leasing and allied aviation businesses.
- Maharashtra expansion approved with a new training facility at Taloja and sales & marketing office at Andheri, Mumbai.
- FY26 Revenue from Operations grew 21.3% YoY to Rs. 24.51 crore, while Operating Margin stood at 64.6%.
- FY26 Net Profit increased 8 % YoY to Rs. 11.64 crore, with Total Assets rising 62.6% YoY to Rs. 107.99 crore.
The LOI, dated 5 August 2026, marks a significant development in the Company’s expansion strategy and is expected to strengthen its presence in India’s growing aviation training ecosystem. The establishment of the FTO will be subject to the terms and conditions specified in the LOI, execution of requisite agreements and applicable approvals.
The Dholera FTO initiative adds a new growth opportunity to Flywings’ existing aviation training capabilities and supports the Company’s broader strategy of expanding its presence across India’s aviation ecosystem.
Commenting on the development, Mrs. Rupal Sanjay Mandavia, Managing Director & CFO, Flywings Simulator Training Centre Limited, said, “Receiving the Letter of Intent from the Airports Authority of India for establishing a Flying Training Organisation at Dholera Airport is an important milestone for Flywings. Dholera is emerging as an important aviation and infrastructure destination, and this proposed FTO will strengthen our presence in aviation training while creating opportunities for sustainable long-term growth.
At the same time, we are progressing with our broader expansion strategy, including our proposed presence in IFSC GIFT City to explore aircraft and simulator leasing and allied aviation opportunities and our planned expansion in Maharashtra. Together, these initiatives reflect our commitment to building a diversified aviation ecosystem and creating long-term value for our stakeholders.”
Expanding Presence Across the Aviation Ecosystem
Alongside the Dholera FTO development, the Board of Directors has approved a proposal to establish a presence in IFSC GIFT City, Gujarat, either through setting up a business unit or incorporating a wholly owned subsidiary, subject to necessary statutory and regulatory approvals.
The proposed presence in IFSC GIFT City will enable the Company to explore opportunities in aircraft and simulator leasing and allied aviation businesses, supporting its long-term diversification strategy and positioning Flywings to participate in India’s emerging aviation finance ecosystem.
The Board has also approved the opening of a training facility at Taloja, Maharashtra, along with a sales and marketing office at Andheri, Mumbai. These initiatives are aimed at enhancing the Company’s training infrastructure, strengthening customer engagement and expanding its market reach across western India.
Financial Highlights (Consolidated)
(Amount in Cr. except EPS)
| Particulars | H2 FY26 | H2 FY25 | Y-O-Y (%) | FY26 | FY25 | Y-O-Y (%) |
| Revenue from Operation | 14.33 | 13.29 | 7.9% | 24.51 | 20.21 | 21.3% |
| Total Revenue | 15.37 | 16.18 | (5.0%) | 25.82 | 23.64 | 9.2% |
| Profit before Tax | 9.97 | 11.41 | (12.6%) | 15.42 | 15.14 | 1.9% |
| Net Profit | 7.26 | 8.79 | (17.4%) | 11.64 | 10.78 | 8% |
| E.P.S (Rs.) | 7.13 | 11.46 | (37.8%) | 11.44 | 14.07 | (18.7%) |
Strong FY26 Financial Performance
Alongside these strategic developments, the Company delivered steady financial performance during FY26. Revenue from Operations increased 21.3% YoY to Rs.24.51 crore, compared with Rs.20.21 crore in FY25.
The Company reported an Operating Margin (EBIT Margin) of 64.6% during FY26, reflecting its continued focus on operational efficiency and disciplined cost management. Total Revenue increased 9.2% YoY to Rs.25.82 crore, while Profit Before Tax stood at Rs.15.42 crore. Net Profit increased 8
% YoY to Rs.11.64 crore. Earnings Per Share (EPS) stood at Rs.11.44 per share for FY26.
For the half year ended 31 March 2026, Revenue from Operations stood at Rs.14.33 crore, registering a 7.9% YoY growth, while Net Profit stood at Rs.7.26 crore.
The Company’s balance sheet also strengthened during FY26. Total Assets increased to Rs.107.99 crore as of 31 March 2026 from Rs.66.41 crore as of 31 March 2025. Cash and Cash Equivalents increased significantly to Rs.23.64 crore from Rs.5.68 crore, while Shareholders’ Equity rose to Rs.89.86 crore from Rs.38.57 crore.
With the Dholera FTO initiative, proposed IFSC GIFT City presence and expansion in Maharashtra, Flywings is strengthening its position across multiple segments of the aviation ecosystem while building a broader platform for sustainable long-term growth.
About Flywings Simulator Training Centre Limited
Flywings Simulator Training Centre Limited is engaged in providing aviation training and simulator based training services. The Company focuses on delivering high quality aviation education and allied services while continuously strengthening its operational capabilities. With an emphasis on quality training, operational excellence and financial discipline, the Company aims to create sustainable long term value for its stakeholders.
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