Afcom Holdings Limited · BSE:AFCOM
Afcom — Shareholder Meeting (September 2026)
31 slides from Afcom's shareholder meeting presentation, Sep 25, 2026
Slide 1: Investor Presentation filing letter to BSE
Date: September 25, 2026 To, BSE Limited, 25th Floor, P. J. Towers, Dalal Street, Fort, Mumbai- 400 001. Symbol: 544224 Sub: Investor Presentation Please find enclosed the Investor Presentation to be presented post this filing at the 13th Annual General Meeting scheduled to held on September 25, 202
Slide 2: 13th Annual General Meeting: Beyond Flying Cargo
TH 13 ANNUAL GENERAL MEETING 25 SEPTEMBER 2026 BEYOND FLYING CARGO Building India’s international air cargo airline for the next decade of trade
Slide 3: Safe Harbour Statement
Safe Harbour Statement This presentation has been prepared by AFCOM Holdings Limited ("AFCOM" or "the Company") solely for the information of shareholders in connection with the 13th Annual General Meeting, and does not constitute an offer or invitation to subscribe for or purchase any securities of
Slide 4: FY26 & Q1 FY27: A Year of Record Performance
FY26 & Q1 FY27 A Year of Record Performance Total income nearly tripled, profitability scaled sharply, and the momentum has carried firmly into the new financial year. 3
Slide 5: FY26: The Defining Year in AFCOM's Journey
FY26: The Defining Year in AFCOM's Journey Dec 2025 Dec 2025 Jan 2026 Feb 2026 FY26 FY26 May 2026 Third aircraft inducted Preferential issue ACUITE BBB+/Stable Designated Indian First freighter flight to Strategic alliance with ₹199.85 Cr Qualified completed credit rating Carrier status Dubai (DWC)
Slide 6: FY26 Financial Highlights
FY26 Financial Highlights TOTAL INCOME EBITDA PROFIT AFTER TAX DILUTED EPS ₹587.7 Cr ₹238.1 Cr ₹121.9 Cr ₹48.65 ▲ +143.9% YoY ▲ +211.7% YoY ▲ +230.1% YoY ▲ +195.4% YoY Four-Year Trend · Total Income, EBITDA & PAT (₹ Crore) Margin Progression 700 45 41 40 600 35 32 500 30 25 400 23 ₹ Crore 25 21 300
Slide 7: Profitability & Balance Sheet Strength
Profitability & Balance Sheet Strength EBITDA Margin 40.52% Net Worth ₹457 Cr +882 bps YoY +123% YoY Net Profit Margin 20.74% Total Assets ₹935 Cr +542 bps YoY +86% YoY, on Ind AS 116 recognition Return on Equity 26.69% Operating Cash Flow ₹36 Cr vs 18.03% in FY25 Turned positive from FY25 Return on
Slide 8: FY26 Operational Performance
FY26 Operational Performance CARGO VOLUME HANDLED FLIGHTS OPERATED CHARTER FLIGHTS AVG. WEEKLY TRIPS / AIRCRAFT 24,353 1,923 1,129 19 Tonnes, full year Trips across the fleet 58.7% of all trips On a two-aircraft base for most of the year AVERAGE YIELD AVERAGE COST / KG CARGO TONNE-KILOMETRES AVG. RE
Slide 9: Awards & Global Recognition, FY26
Awards & Global Recognition, FY26 ★ ★ ★ Top Airline by Air-to-Air Import, Freighter of the Year, 2026 Fastest Growing Freighter of the 2026 Year, 2025 Velana International Airport Awards, Republic of Velana International Airport Awards, Republic of 6th Aviation Cargo Express (ACE) Awards Maldives Ma
Slide 10: Strategic & Regulatory Milestones
Strategic & Regulatory Milestones Designated Indian Carrier Status Conferred by the Ministry of Finance in February 2026; brings eligibility for statutory export-related benefits, including exemption from VAT on Aviation DIC Turbine Fuel in Tamil Nadu, estimated to reduce ATF uplift costs by 5-7% on
Slide 11: Q1 FY27: The Right Direction, Continued
Q1 FY27: The Right Direction, Continued TOTAL INCOME EBITDA PROFIT AFTER TAX EARNINGS PER SHARE ₹177.5 Cr ₹72.5 Cr ₹39.2 Cr ₹14.16 ▲ +49.0% YoY ▲ +53.5% YoY, margin 40.8% ▲ +86.1% YoY, margin 22.1% ▲ vs ₹8.48 in Q1 FY26 Total Income Trend, Quarterly (₹ Crore) 250 Why Q1 FY27 vs Q4 FY26 understates m
Slide 12: Q1 FY27: Outperforming the Industry
Q1 FY27: Outperforming the Industry Metric AFCOM Q1 FY27 Industry / IATA Benchmark Assessment Cargo Yield per kg ₹270.59 ₹238 (IATA Asia-Pacific) +13.7% EBITDA Margin 40.8% 22-28% (cargo airline average) Outperforms Fuel Cost as % of Revenue 23.5% ~28% (industry average) 5.5 pts better Revenue Growt
Slide 13: Fleet Ramp-Up: Momentum Building Into FY27
Fleet Ramp-Up: Momentum Building Into FY27 Aircraft Utilisation, Q1 FY27 BALANCE SHEET, AS AT 30 JUNE 2026 VT-AFO · Primary Freighter 98% Total Assets 625.3 hrs, 238 trips ₹1,141.4 Cr +22.1% vs Mar 2026 VT-AFN · Primary Freighter 69% Total Equity ₹689.4 Cr 442.3 hrs, 162 trips +51.0% vs Mar 2026 Cas
Slide 14: The Opportunity Ahead: Charting AFCOM's Next Decade
The Opportunity Ahead Charting AFCOM’s Next Decade Global trade is redrawing its routes. AFCOM is positioning India, and itself, at the centre of the fastest-growing corridor in world air cargo. 13
Slide 15: Global Air Cargo: A Record Industry
Global Air Cargo: A Record Industry GLOBAL CTK GROWTH, CY2025 CAPACITY GROWTH (ACTK) YIELDS vs PRE-PANDEMIC +3.4% +3.7% +30% Record volumes; international ops +4.2% Slightly ahead of demand Structurally higher pricing power Regional CTK Growth, CY2025 (%) ASIA-PACIFIC LEADS THE WORLD 10 8.4 8 35.9%
Slide 16: India's Air Cargo Opportunity
India's Air Cargo Opportunity India Air Cargo Market Size (Million Tonnes) 7.7% 12 India's real GDP growth in FY26, among the fastest of any major economy (MoSPI) 9.9 10 8 National Air Cargo Policy Government policy explicitly aims to position India as a global transshipment hub 6 4 3.6 $550 Bn 2 Pr
Slide 17: India: The Emerging Global Transit Hub
India: The Emerging Global Transit Hub Chennai Outpaces the Nation 1 AFCOM'S INTERNATIONAL NETWORK & TRANSIT AFCOM's home hub grew international air cargo tonnage 12.9% (Apr- PRESENCE Feb FY26) versus 5.4% all-India growth, reinforcing Chennai's role as a pharma and engineering export gateway. Chenn
Slide 18: Africa-Asia: Fastest-Growing Cargo Corridor
Africa-Asia: Fastest-Growing Cargo Corridor Africa-Asia Corridor Growth, CTK YoY (%) AFRICA CTK GROWTH 70 62 60 +21.0% 50 42 ~2x the global average of 11.2%, Feb 2026 40 30 MONTHS OF OUTPERFORMANCE 20 10 10 5th 0 Consecutive month Africa grew ~2x world rate Jul '25 Jan '26 Feb '26 More than double t
Slide 19: Japan, Korea & ASEAN: Turning Toward Africa
Japan, Korea & ASEAN: Turning Toward Africa JAPAN SOUTH KOREA ASEAN (VIA INDIA) $10.7 Bn $24 Bn $128 Bn Japan's imports from Africa (trailing 12 months); Pledged by Korea to Africa through 2030 at the India-ASEAN trade in 2025-26, illustrating the +14.2% YoY, led by platinum group metals and inaugur
Slide 20: Middle East & Dubai: The Bridge to Africa
Middle East & Dubai: The Bridge to Africa DUBAI COMBINED CARGO CAPACITY ~4.0M tonnes/yr DXB (2.8M) + DWC (0.8-1.2M) handling capacity MIDDLE EAST CTK GROWTH +16.5% Second-fastest growing region globally, Feb 2026 "As a global cargo hub, Dubai is hard to beat: the location is ideal, government AFCOM'
Slide 21: The White Space
The White Space Japan · Korea · ASEAN (ex-China, ex-India) to South & West Africa, via India and Dubai Japan / Korea West Africa Dubai (DWC) (Lagos, Accra) ASEAN India (Singapore, South Africa (Chennai hub) Bangkok, Hanoi) (Johannesburg) The thesis: cargo moving from Japan, Korea and ASEAN, excludin
Slide 22: Why India, Why AFCOM: The Transit Thesis
Why India, Why AFCOM: The Transit Thesis Cost Advantage Designated Indian Carrier status, ATF VAT exemption, ACUITE BBB+ rating Existing Network Chennai home hub, with network presence spanning the Maldives, Bangkok, Hanoi, and a new Dubai gateway GSSA relationship with TTK Group, channelling busine
Slide 23: Growth Strategy: Two Engines, One Corridor
Growth Strategy: Two Engines, One Corridor ENGINE ONE ENGINE TWO Regional Powerhouse Long-Haul Ambition Planned fleet of up to 5 Boeing 737-800 Freighters Future Boeing 777 Freighter Strategy High-frequency feeder capacity across South Asia, ASEAN and Trunk-route capacity to connect Japan and Korea
Slide 24: Engine One: 5 Boeing 737-800 Freighters
Engine One: 5 Boeing 737-800 Freighters 3 in operation today, scaling to 5 Fleet Plan aircraft Payload _ 22 tonnes per aircraft 20 ~ ~3,700 km (~2,000 nm) at max Range payload Main Deck Volume 141.5 cubic metres Why it matters: the 737-800 Freighter's range comfortably covers every leg AFCOM already
Slide 25: Engine One's Regional Network
Engine One's Regional Network South Asia Southeast Asia India (Chennai home base), Sri Lanka, Maldives (Velana transshipment Singapore, Kuala Lumpur, Bangkok, Hanoi, Ho Chi Minh City, Jakarta hub) Middle East East Africa: Potential Future Market Dubai World Central, and key regional cargo gateways w
Slide 26: Engine Two: Future Wide-body Strategy
Engine Two: Future Wide-body Strategy Max Payload (proposed aircraft) ~102.9 tonnes, roughly 4.3x a 737-800 Freighter Range (proposed aircraft) ~9,070 km (~4,900 nm) Strategic Role True long-haul capability without technical stops Why it matters: a 777 Freighter's range would put Tokyo and Seoul wit
Slide 27: Illustrative Future Network: Japan/Korea - India - Africa
Illustrative Future Network: Japan/Korea - India - Africa Direct, single- Tokyo <> Chennai ~5,700 km hop ALL WITHIN A PROPOSED 777 FREIGHTER'S ~9,070 KM RANGE Every leg of the Japan/Korea-India-Africa corridor would sit Seoul <> Chennai ~5,300 km Direct, single- comfortably inside the operating rang
Slide 28: The Combined Fleet Value Proposition
The Combined Fleet Value Proposition Planned Boeing 737-800 Fleet (up to 5) Proposed Boeing 777 Freighter Role Regional feeder, high frequency Long-haul trunk, high payload Payload 23.9 tonnes ~102.9 tonnes Range ~3,700 km ~9,070 km Best suited for South Asia, ASEAN, Middle East density Japan/Korea
Slide 29: Foundations Already in Place
Foundations Already in Place GSSA (General Sales & Service TTK Group Agent) DHL, Kuehne+Nagel, DSV, DB Schenker, Geodis, among others, channel cargo to AFCOM through the Freight Forwarders (via GSSA) GSSA relationship Etihad Airways, Turkish Airlines, SriLankan Airlines, Virgin Atlantic, British Air
Slide 30: Growth Enablers & Risk Discipline
Growth Enablers & Risk Discipline Capital Already Mobilised ₹ ~₹479 Cr raised since listing (IPO, preferential issue and QIP) has KEY RISKS MANAGEMENT IS TRACKING funded AFCOM's fleet expansion and capital base; QIP proceeds specifically are being deployed toward aircraft lease deposits, spares, tra
Slide 31: Thank You
Every flight carries more than cargo. It carries the trust of businesses, the commitment of our people, and the responsibility to deliver without compromise. - Capt. Deepak Parasuraman, Chairman & Managing Director Thank You On behalf of the Board of Directors, AFCOM Holdings Limited 13th Annual Gen
AFCOM Holdings — Shareholder Meeting (September 2026) on 6ix