About India Flysafe Aviation Limited
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India Flysafe Aviation Limited is a public limited company based in New Delhi, Delhi, India. It operates in the air charter and private aviation segment of the transport and logistics sector. It was incorporated on 04 December 1997 and has been in existence for over 29 years.
The company is registered with the Registrar of Companies (ROC), Delhi, under CIN U25209DL1997PLC090986. Its GSTIN is 07AAHCS8618Q1ZI (Delhi).
The company has an authorised share capital of ₹15 Cr and a paid-up capital of ₹15 Cr. It was formerly known as Shree Vankatesh Aviation Services Limited and Shree Vankatesh Packaging Limited. It is led by directors including Jugesh Ahuja (Whole-Time Director) and Tapsi Ghai (Whole-Time Director).
Its last annual general meeting (AGM) was held on 30 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at 28 Najafgarh Road, New Delhi, Delhi, India – 110015.
As per the financials filed for FY 2025, the company reported a revenue of ₹95.49 Cr, a decline of 57% compared to the previous year. For the same year it recorded a net loss of ₹15.7 Cr (net margin -16.4%) and EBITDA of ₹5.64 Cr (EBITDA margin 5.9%). Revenue has declined at a compounded annual rate (CAGR) of 20% over three years and 12% over five years.
The company has about 22 employees on its provident fund (EPFO) records.
As per MCA filings, the company has satisfied charges of ₹632.5 Cr on record. Court records list 5 cases involving the company, including 3 filed by the company and 2 filed against it; 1 case is pending. The company has 4 deals on record (2 funding rounds, 2 secondary share transfers), with disclosed funding of ₹12.5 Cr; the latest was in December 2011. Its 9 peer companies in the Aviation industry (Charter Services), with the same principal business activity (air transport) are compared by revenue, 4 larger and 5 smaller; the largest is Mytri Aviation Private Limited with revenue of ₹118.08 Cr. The company has 2 MSME Form 1 returns on record for the period ending Mar 2019, listing 3 overdue payments to 2 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website indiaflysafe.com.
Company details
Name history
India Flysafe Aviation has undergone 3 name changes throughout its history. The company was previously known as Shree Vankatesh Aviation Services Limited, Shree Vankatesh Packaging Limited, and Shree Venkatesh Packaging Limited. The current legal name is India Flysafe Aviation Limited.
| Company Name | Status |
|---|---|
| India Flysafe Aviation Limited | Current |
| Shree Vankatesh Aviation Services Limited | Previous |
| Shree Vankatesh Packaging Limited | Previous |
| Shree Venkatesh Packaging Limited | Previous |
Contact details
India Flysafe Aviation Limited's registered office is in New Delhi, Delhi. Its website is indiaflysafe.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered Address28 Najafgarh Road, New Delhi, Delhi, India – 110015
- IndustryTransport and Logistics, Air Charter & Private Aviation
To see the full contact details of India Flysafe Aviation Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Business activity
The main business activities of India Flysafe Aviation are transport and storage and professional, scientific and technical. In detail, this covers air transport, management consultancy activities and advertising and market research. 3 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| H | Transport and storage | H4 | Air transport | |
| M | Professional, Scientific and Technical | M3 | Management consultancy activities | |
| M | Professional, Scientific and Technical | M6 | Advertising and market research |
To see the full business activity and turnover split of India Flysafe Aviation Limited, buy the company report.
Financials of India Flysafe Aviation Limited
FY 2024 filings availableIndia Flysafe Aviation Limited reported revenue of ₹95.49 Cr (down 57% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 12% over five years, including a 57% fall in the latest year. EBITDA fell 95% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| EBITDA | ₹5.64 Cr | ||||
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| Tax Expense | |||||
| Net Profit (PAT) | -₹15.7 Cr | ||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 5.9% | ||||
| Net Profit Margin | -16.4% | ||||
| Return on Equity (ROE) | |||||
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To see the full financial statements and ratios of India Flysafe Aviation Limited, buy the company report.
Board of directors of India Flysafe Aviation Limited
India Flysafe Aviation has 4 current directors and 15 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sandeep Gupta Also directs: Ketan Electricals Private Limited | Director | 02 Aug 2018 | 8 Years 2 Months | Current |
| Jugesh Ahuja Also directs: Jindal Rubber Products Private Limited, Altair Minerals Private Limited, Ambitious Cement Private Limited and 5 more | Whole-Time Director | 02 Aug 2018 | 8 Years 2 Months | Current |
| Tapsi Ghai Also directs: Ambitious Cement Private Limited, Opj Trading Private Limited, JSP Sports Private Limited and 5 more | Whole-Time Director | 31 Jul 2019 | 7 Years 3 Months | Current |
| Shailesh Goyal Also directs: Allestro Realty LLP, GRVS Infratech LLP, Multibagger Tradex Private Limited and 2 more | Director | 02 Aug 2018 | 8 Years 2 Months | Current |
Peer comparison
India Flysafe Aviation Limited is compared with the 9 companies closest to it by revenue in the Aviation industry (Charter Services), with the same principal business activity (air transport), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Mytri Aviation Private Limited | ₹118.08 Cr (FY 2025) | 10.0% | Hyderabad, Telangana, India | |||
| Saarthi Airways Private Limited | ₹115.16 Cr (FY 2024) | 70.0% | Jaipur, Rajasthan, India | |||
| Poonawalla Aviation Private Limited | ₹111.75 Cr (FY 2025) | -46.0% | Road, Hadapsar, Pune-411028, Maharashtra, India | |||
| Velocity Charter Private Limited | ₹99.48 Cr (FY 2025) | 64.0% | Mumbai, Maharashtra, India | |||
| India Flysafe Aviation Limitedthis company | ₹95.49 Cr (FY 2025) | -₹15.7 Cr | -16.4% | -57.0% | 22 | New Delhi, Delhi, India |
| Zest Aviation Private Limited | ₹93.29 Cr (FY 2025) | 50.0% | Ahmedabad, Gujarat, India | |||
| Airking Charters Private Limited | ₹87.48 Cr (FY 2025) | -30.0% | New Delhi, Delhi, India | |||
| Skyblue Aero Private Limited | ₹85.81 Cr (FY 2023) | 24.0% | Hyderabad, Telangana, India | |||
| Sobha Puravankara Aviation Private Limited | ₹85.81 Cr (FY 2025) | 178.0% | Bangalore, Karnataka, India | |||
| GMR Aviation Private Limited | ₹83.95 Cr (FY 2025) | 13.0% | New Delhi, Delhi, India |
To see the full peer comparison of India Flysafe Aviation Limited, buy the company report.
Auditor
India Flysafe Aviation Limited is audited by S S KOTHARI MEHTA & COMPANY for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| S S KOTHARI MEHTA & COMPANY | FY 2023 | 000756N |
Shareholding
The shareholding of India Flysafe Aviation Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of India Flysafe Aviation Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 25 May 2022 | 100582408 | Others | ₹150 Cr | Satisfied | |
| 31 Oct 2014 | 10528159 | Others | ₹50 Cr | Satisfied | |
| 27 Sep 2014 | 10528104 | Yes Bank Limited | ₹350 Cr | Satisfied | |
| 25 Mar 2013 | 10420025 | Yes Bank Limited | ₹45 Cr | Satisfied | |
| 31 Jul 2012 | 10370559 | Ge Capital Services India | ₹37.5 Cr | Satisfied |
To see the full charge records of India Flysafe Aviation Limited, buy the company report.
Total charge records: 5 View all charges
Deals & funding
India Flysafe Aviation Limited has 4 deals on record (2 funding rounds, 2 secondary share transfers), with disclosed funding of ₹12.5 Cr; the latest was in December 2011.
Deals on record (4 of 4)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2011 | Secondary share transfer | Undisclosed | Buyer: Gagan Infraenergy Limited , Opelina Sustainable Services Private Limited Seller: Nahargarh Properties Private Limited |
| Sep 2011 | Secondary share transfer | Undisclosed | Buyer: Nahargarh Properties Private Limited Seller: Nahar Viniyog Pvt. Ltd. , Bazigar Trading Pvt Ltd , Zipper Mercantiles Pvt.Ltd. |
| Nov 2010 | Funding round | ₹10 Cr | Investors: Opelina Sustainable Services Private Limited , Gagan Infraenergy Limited |
| Mar 2008 | Funding round | ₹2.5 Cr | Investors: Gagan Infraenergy Limited , Opelina Sustainable Services Private Limited |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
India Flysafe Aviation Limited has 5 court cases on record: 3 filed by India Flysafe Aviation, 2 filed against it. 1 case is pending and 4 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 4 | 2 | 1 |
| District courts | 1 | 0 | 0 |
Cases on record (5 of 5)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Delhi | Court case (O.M.P.(I) (COMM.)) | Filed against the company by Sylys Enterprises Pvt. Ltd. | Disposed |
| High Court of Delhi | Tax appeal | Filed against the company by PR. Commissioner of Income Tax-4, Delhi | Pending |
| High Court, UTTARAKHAND | Court case (WPMS) | Filed by the company against State of Uttarakhand and Others | Disposed |
| High Court, UTTARAKHAND | Court case (WPMS) | Filed by the company against State of Uttarakhand, Through Its Chief Secretary and 2 others | Disposed |
| District court, South West, Delhi | Court case (CR CRIMINAL REVISION) | Filed by the company against State (NCT of Delhi) | Disposed |
To see the full case history of India Flysafe Aviation Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
India Flysafe Aviation Limited has 2 MSME Form 1 returns on record for the period ending Mar 2019, listing 3 overdue payments to 2 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (2 of 2)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| JBK Logistics | |||
| Divyanshi Aviation Services Private Limited |
To see the full MSME payment records of India Flysafe Aviation Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
India Flysafe Aviation Limited has a workforce of 22 employees on its EPFO records as of Mar 28, 2024, across 1 active EPFO establishment.
GST
India Flysafe Aviation has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 07AAHCS8618Q1ZI | Delhi | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of India Flysafe Aviation Limited, buy the company report.
Recent activity
India Flysafe Aviation Limited has 17 board changes on record since 2007: 4 appointments and 13 cessations. The latest: Tapsi Ghai ceased to be Additional Director on 30 Sep 2019.
20 earlier events are in the company report.
Frequently asked questions
India Flysafe Aviation is an active public limited company based in New Delhi, Delhi, India. The company works in air charter and private aviation, within the transport and logistics industry. It was incorporated on 04 December 1997 (29+ years old) and is registered under CIN U25209DL1997PLC090986.
India Flysafe Aviation has 4 current directors:
- Jugesh Ahuja - Whole-Time Director
- Tapsi Ghai - Whole-Time Director
- Sandeep Gupta - Director
- Shailesh Goyal - Director
The latest financial statements of India Flysafe Aviation on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of India Flysafe Aviation is 07AAHCS8618Q1ZI, registered in Delhi.
The CIN (Corporate Identification Number) of India Flysafe Aviation is U25209DL1997PLC090986. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
India Flysafe Aviation has 5 court cases on record: 3 filed by the company and 2 filed against it. 1 is pending. Most are in the high courts.
India Flysafe Aviation was incorporated on 04 December 1997, making it 29+ years old. It is registered with the Registrar of Companies, Delhi.
India Flysafe Aviation has 4 deals on record (2 funding rounds, 2 secondary share transfers), with disclosed funding of ₹12.5 Cr; the latest was in December 2011.
The peers of India Flysafe Aviation by revenue are Mytri Aviation Private Limited, Saarthi Airways Private Limited, Poonawalla Aviation Private Limited, Velocity Charter Private Limited, Zest Aviation Private Limited and 4 more, all in the Aviation industry (Charter Services), with the same principal business activity (air transport).
Tapsi Ghai ceased to be Additional Director on 30 Sep 2019. Surinder Pal Singh ceased to be Director on 31 Jul 2019. Tapsi Ghai was appointed as Whole-Time Director on 31 Jul 2019. India Flysafe Aviation has 17 board changes on record in total.
India Flysafe Aviation has 2 MSME Form 1 returns on record for the period ending Mar 2019, listing 3 overdue payments to 2 micro and small suppliers. The latest return was filed on 29 May 2019.
India Flysafe Aviation can be reached through the website indiaflysafe.com. Its registered office is in New Delhi, Delhi, India.
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