FLY-HI MARITIME TRAVELS LTD
About the company
Fly-Hi Maritime Travels Ltd (FHMTL), is engaged in manages end to end travel arrangements for crew of commercial shipping companies, ensuring that the crew members move seamlessly from their home country to the port of boarding.
The company offers travel and logistics-focused company serving maritime and offshore industries. It specializes in crew travel management, ticketing, visa assistance, and global travel coordination.
The company offers end-to-end travel solutions for shipping companies, ship managers, and maritime professionals, ensuring timely crew movements, cost optimization, and compliance with international travel requirements.
Fly-Hi Maritime Travels emphasizes reliability, operational efficiency, and personalized service, leveraging industry expertise and strong airline partnerships to support seamless maritime operations worldwide.
As on December 16, 2025, the company had 47 employees.
Fly-Hi Maritime has reported significant revenue and profit growth in fiscal year ended 31st March 2026. Revenue from operations increased from ₹45.40 Crs to ₹62.04 Cr in FY26. During this period, Profit After Tax (PAT) also surged from ₹3.44 Crs to ₹8.43 Cr. The company achieved a profit after tax margin of 13.58%. Improvement in traveller's sentiment has helped report strong all-round growth performance.
The promoters/directors for Fly-Hi Maritime Travels include Jitendra Kumar Negi, Mridul Dilip Singhvi, and Aloke Ashok Totlani, according to MCA records and company listings, managing travel logistics for maritime crew.
Fly-Hi Maritime Travels Ltd is making Fresh Issue-cum-offer for sale of up to 51,60,000 shares having face value of Rs 5 each aggregating Rs 52.63 crs. Of the above, 24,48,000 shares are offered to retail investors. Similarly, HNI’s are allocated with 24,48,000 shares. 2,64,000 shares are reserved for Market makers.
The shares will be listed on SME platform of the Bombay Stock Exchange (BSE).
Key metrics
Subscription status by category
Strengths & risks
Strengths / Operational Highlights
Fly-Hi Maritime Travels Ltd – Navigating Excellence
Driving Global Logistics through Management’s Maritime Expertise: Fly-Hi Maritime Ltd. leverages the extensive industry experience and strategic vision of its promoters within the global shipping and logistics sector. Their profound understanding of maritime regulations, freight forwarding, and vessel operations enables the company to provide seamless, end-to-end supply chain solutions. This leadership-led focus on operational efficiency and international networking ensures reliable cargo handling and cost-effective transit, positioning Fly-Hi as a trusted partner in global trade.
Comprehensive Logistics Business Model – Fly-Hi Maritime operates a comprehensive logistics business model specializing in freight forwarding, custom clearance, and multimodal transportation. The company generates revenue by managing complex international cargo movements, providing tailored supply chain solutions that integrate sea, air, and land transit to ensure seamless delivery for global commercial clients.
Scaling Global Network, Integrating Digital Logistics Platforms – Fly-Hi Maritime’s strategy focuses on scaling its global network and integrating digital logistics platforms to enhance real-time tracking. By expanding its asset-light freight forwarding vertical and strengthening strategic alliances with international carriers, the company aims to optimize route efficiency and capture higher market share in high-growth trade corridors.
Post the Public Issue Fly-Hi Maritime Ltd to Fund Transport Assets Acquisition, Upgrade Logistics Infrastructure – Fly-Hi Maritime aims to utilize IPO proceeds to acquire additional transport assets and upgrade its digital logistics infrastructure. Key objectives include meeting increased working capital requirements for large-scale global contracts, reducing outstanding debt to strengthen the balance sheet, and expanding its physical presence in emerging international trade hubs.
Risks
Fly-Hi Maritime faces risks from global freight rate volatility and fluctuations in fuel prices. The business is also susceptible to geopolitical tensions affecting trade routes, stringent international maritime regulations, and intense competition from large-scale global logistics players, which could impact operational margins and supply chain stability.
Financial snapshot
Strengths & risks
Strengths / Operational Highlights
Fly-Hi Maritime Travels Ltd – Navigating Excellence
Driving Global Logistics through Management’s Maritime Expertise: Fly-Hi Maritime Ltd. leverages the extensive industry experience and strategic vision of its promoters within the global shipping and logistics sector. Their profound understanding of maritime regulations, freight forwarding, and vessel operations enables the company to provide seamless, end-to-end supply chain solutions. This leadership-led focus on operational efficiency and international networking ensures reliable cargo handling and cost-effective transit, positioning Fly-Hi as a trusted partner in global trade.
Comprehensive Logistics Business Model – Fly-Hi Maritime operates a comprehensive logistics business model specializing in freight forwarding, custom clearance, and multimodal transportation. The company generates revenue by managing complex international cargo movements, providing tailored supply chain solutions that integrate sea, air, and land transit to ensure seamless delivery for global commercial clients.
Scaling Global Network, Integrating Digital Logistics Platforms – Fly-Hi Maritime’s strategy focuses on scaling its global network and integrating digital logistics platforms to enhance real-time tracking. By expanding its asset-light freight forwarding vertical and strengthening strategic alliances with international carriers, the company aims to optimize route efficiency and capture higher market share in high-growth trade corridors.
Post the Public Issue Fly-Hi Maritime Ltd to Fund Transport Assets Acquisition, Upgrade Logistics Infrastructure – Fly-Hi Maritime aims to utilize IPO proceeds to acquire additional transport assets and upgrade its digital logistics infrastructure. Key objectives include meeting increased working capital requirements for large-scale global contracts, reducing outstanding debt to strengthen the balance sheet, and expanding its physical presence in emerging international trade hubs.
Risks
Fly-Hi Maritime faces risks from global freight rate volatility and fluctuations in fuel prices. The business is also susceptible to geopolitical tensions affecting trade routes, stringent international maritime regulations, and intense competition from large-scale global logistics players, which could impact operational margins and supply chain stability.
Our verdict
Our View on This IPO
Fly-Hi Maritime Travels Ltd has approached primary markets with an initial public offer (IPO) which consists of fresh issue (₹42.44 Crs) cum an offer for sale (₹10.20 Crs), aggregating to ₹52.63 Crs, aimed at strengthening its presence in maritime travel, and leveraging opportunities arising from the evolving requirements of commercial shipping companies.
The Noida based company specializes in offering travel and logistics services, especially managing end-to-end travel arrangement for crew members of commercial shipping companies.
Fly-Hi Maritime operates a comprehensive logistics business model specializing in freight forwarding, custom clearance, and multimodal transportation. It generates revenue by managing complex international cargo movements and providing tailored supply chain solutions.
Benefiting from the highly skilled business operations, Fly-Hi Maritime reported strong financial performance over the last five year, with the exception of FY25 when geopolitical factors impacted its earnings. Revenue from operations increased from ₹45.40 Crs to ₹62.04 Cr in FY26, while Profit After Tax (PAT) surged to ₹8.43 Cr from ₹3.44 Crs. The company achieved a profit after tax margin of 13.58%.
Fly-Hi Maritime will raise ₹52.63 Crs from the issue. Of which, ₹10.20 Crs OFS component will go to selling promoter. The remaining ₹42.44 Crs raised through fresh issue will be utilized by the company towards meeting working capital requirement, partly paying debts and general corporate purpose.
Post-issue, Fly-Hi Maritime Travels net worth will expand to ₹60.40 Crs, while its post-issue equity share capital will stand at ₹9.09 Crs.
Fly-Hi Maritime Travels Ltd is a niche B2B travel management company operating in the highly specialized maritime and shipping logistics sector. Unlike standard retail travel agencies, Fly-Hi manages complex, end-to-end travel logistics, including specialized marine ticketing, global visas, and crew port transfers, for commercial shipping lines and ship management corporations. However, the IPO presents a stark contrast for prospective investors: fundamentally strong operational efficiency versus a high customer concentration risk. While top-line revenue has remained virtually flat over the last three fiscal years, the bottom line has surged significantly, driven by improved operating margins and cost discipline. As an SME IPO with heavy client concentration, this issue is best suited for risk-tolerant investors who have confidence in the longevity of Fly-Hi’s core maritime relationships and are comfortable with the liquidity and lock-in dynamics of the BSE SME platform.
Hence, we recommend SUBSCRIBE for long-term investment
Disclaimer
This document is meant for the recipient only for use as intended and not for circulation. This document
should not be reproduced or copied or made available to others. Recipients may not receive this report at
the same time as other recipients. The information contained herein is from the public domain or sources are
believed to be reliable. While reasonable care has been taken to ensure that information given is at the
time believed to be fair and correct and opinions based thereupon are reasonable, due to the very nature of
research it cannot be warranted or represented that it is accurate or complete and it should not be relied
upon as such. In so far as this report includes current or historical information, it is believed to be
reliable, although its accuracy and completeness cannot be guaranteed. Opinions expressed are current
opinions as of the date appearing on this material only. While we endeavour to update on a reasonable basis,
the information discussed in this material, Mr Avinash Gorakshakar is under no obligation to update or keep
the information current. Further there may be regulatory, compliance, or other reasons that prevent me from
doing so. Prospective investors and others are cautioned that any forward-looking statements are not
predictions and may be subject to change without notice. Avinash Gorakshakar and any person connected with
it, will not in any way be responsible for the contents of this report or for any losses, costs, expenses,
charges, including notional losses/lost opportunities incurred by a recipient as a result of acting or
non-acting on any information/material contained in the report. This is not an offer to sell or a
solicitation to buy any securities or an attempt to influence the opinion or behaviour of investors or
recipients or provide any investment/tax advice. This report is for information only and has not been
prepared based on specific investment objectives. The securities discussed in this report may not be
suitable for all investors. Investors must make their own investment decision based on their own investment
objectives, goals and financial position and based on their own analysis. Trading in stocks, stock
derivatives, and other securities is inherently risky and the recipient agrees to assume complete and full
responsibility for the outcomes of all trading decisions that the recipient makes, including but not limited
to loss of capital. Opinions, projections and estimates in this report solely constitute the current
judgment of the author of this report as of the date of this report and do not in any way reflect the views
of Avinash Gorakshakar. The securities described herein may or may not be eligible for sale in all
jurisdictions or to certain category of investors. Persons in whose possession this document may come are
required to inform themselves of and to observe such restriction.
SEBI REGN NO. INH000001071