Himalayan Heli Services Limited
Himalayan Heli Services Limited
INE142401012
Incorporation Date: 06-Jul-1998
Listing Status: DRHP Not Filed
About Himalayan Heli Services Limited
Overview of Himalayan Heli Services Limited
Himalayan Heli Services Limited
Himalayan Heli Services Limited is an Indian non-scheduled helicopter operator established in 1998, specialising in pilgrimage helicopter services, charter operations and specialised aerial work. The company has built its operating expertise around challenging terrain and high-altitude helicopter operations, serving pilgrimage destinations such as Mata Vaishno Devi, Amarnath Ji, Kedarnath Ji and Manimahesh, while also undertaking aerial surveys, powerline construction, external-load operations, aerial mapping and other specialised aviation assignments.
🏢 Introduction & Infrastructure
Established: 1998, following the promoters' earlier experience in heli-skiing operations in the Himalayas.
Registered Office: New Delhi.
Aviation Permit: Holds a DGCA Non-Scheduled Operator's Permit (NSOP) and is authorised for mountain flying, heli-skiing and aerial-work operations.
Fleet: Operates a fleet primarily comprising AS350 B3/B3e helicopters.
Pilot Team: Supported by an experienced team of helicopter pilots specialising in mountain and aerial-work operations.
Maintenance Infrastructure: Operates a DGCA CAR-145 approved maintenance organisation.
Maintenance Bases: Maintenance facilities at Katra, Shahpura, Sersi, Sharifabad and Barbil, supported by quality-control and continuing-airworthiness functions in New Delhi.
Safety Systems: ISO 9001:2015 certified with a dedicated flight-safety function and DGCA-approved Safety Management System.
⚙️ Business Model & Operational Verticals
Himalayan Heli follows a multi-segment helicopter-services model, combining recurring pilgrimage operations with specialised aerial-work and charter assignments.
1. Pilgrimage Shuttle Services — Core Vertical
Helicopter shuttle services for major pilgrimage destinations.
Mata Vaishno Devi
Shri Amarnath Ji
Shri Kedarnath Ji
Manimahesh
Operations are designed around high-volume seasonal pilgrimage demand.
2. Helicopter Tours
Chardham helicopter tours
Do Dham tours
Ek Dham tours
Hemkund Sahib and Valley of Flowers
Customised helicopter tours
Premium tourism and pilgrimage packages
3. Charter Services
Private helicopter charters
VIP and corporate charter services
Government and institutional charter requirements
Point-to-point helicopter transportation
4. Aerial Work & Utility Operations
Heliborne geophysical surveys
Aerial LiDAR surveys
Powerline stringing
Powerline construction support
External-load and underslung operations
Aerial mapping
Logistics and specialised transportation
Other project-specific aerial assignments
5. Aviation Maintenance Services
In-house maintenance of the company's helicopter fleet.
Third-party maintenance support.
Continuing airworthiness management and quality-control services.
👥 Management Structure
Himalayan Heli Services is led by its founding promoters, who have extensive experience across mountaineering, aviation, tourism, adventure sports and helicopter operations.
Wangchuk Shamshu — Managing Director
Harsh Vardhan Sharma — Chairman & Executive Director
Stanzin Losal Shamshu — Executive Director
Shreyansh Sharma — Executive Director
The management team combines long-standing aviation experience with expertise in pilgrimage operations, aerial work, business development, finance, fleet movement and digital transformation.
📦 Key Service & Program Portfolio
| Service / Program | Key Application |
|---|---|
| Vaishno Devi Shuttle | Pilgrimage transportation |
| Amarnath Ji Shuttle | Pilgrimage transportation |
| Kedarnath Ji Shuttle | Pilgrimage transportation |
| Manimahesh Shuttle | Pilgrimage transportation |
| Chardham Heli-Tours | Premium pilgrimage tourism |
| Do Dham / Ek Dham Tours | Pilgrimage tourism |
| Private Charters | VIP, corporate and private transportation |
| Geophysical Surveys | Mineral and geological exploration |
| Aerial LiDAR Surveys | Mapping and infrastructure surveying |
| Powerline Stringing | Transmission-line construction |
| Underslung Operations | Heavy-load aerial transportation |
| Aerial Mapping & Photography | Surveying, mapping and specialised assignments |
🚁 Aviation & Technical Capabilities
Specialisation in mountain and high-altitude helicopter operations.
Experience across both passenger and specialised aerial-work missions.
More than 75,000 flying hours and millions of passengers served over the company's operating history.
Experience covering more than 450,000 survey line kilometres through aerial survey operations.
Capability to undertake specialised external-load and underslung operations.
Experience in operating the S-64E Skycrane for power-transmission infrastructure work in India.
Aerial survey capabilities including geophysical and LiDAR surveys.
In-house maintenance and continuing-airworthiness capabilities supporting fleet availability.
🏔️ Specialised Project Experience
The company has developed capabilities beyond passenger transportation through specialised aviation assignments, including:
Heliborne geophysical surveys for mineral exploration.
Powerline stringing and transmission-tower construction support.
High-altitude aerial operations in difficult terrain.
External-load transportation.
Aerial LiDAR surveying.
Government and defence-related charter operations.
Introduction and operation of the S-64E Skycrane helicopter for powerline construction in India.
⭐ Key Business Highlights
More than 25 years of operating history in India's helicopter-services industry.
Established presence in pilgrimage shuttle and aerial-work operations.
Strong expertise in mountain and high-altitude helicopter operations.
Diversified business model spanning pilgrimage, tourism, private charters, aerial surveys and utility aviation.
DGCA CAR-145 approved maintenance organisation with multiple maintenance bases.
Experience across 450,000+ survey line kilometres and 75,000+ flying hours.
Capability in specialised operations such as powerline stringing, LiDAR surveys and external-load transportation.
Strong operating relationships and experience across pilgrimage, infrastructure, government and specialised aviation projects.
Expanding presence in premium helicopter tourism and pilgrimage experiences, alongside its established aerial-work business.
Insights of Himalayan Heli Services Limited
Himalayan Heli Services Limited
1. Financial Highlights – FY25 vs FY26
All monetary values are in ₹ Crore.
| Metric | FY25 | FY26 | YoY Change | Margin FY25 | Margin FY26 |
|---|---|---|---|---|---|
| Net Revenue | 132.16 | 115.18 | -12.85% | — | — |
| EBITDA | 20.54 | 18.03 | -12.22% | 15.54% | 15.65% |
| PBT | 11.21 | 3.66 | -67.35% | 8.48% | 3.18% |
| PAT | 3.74 | 2.46 | -34.22% | 2.83% | 2.14% |
Key Insights:
Revenue declined 12.9% to ₹115.18 Cr in FY26, while EBITDA declined 12.2% to ₹18.03 Cr, broadly in line with the revenue contraction.
EBITDA margin remained broadly stable at 15.65% compared with 15.54% in FY25, indicating that operating-cost control largely protected operating margins.
PBT declined sharply by 67.4% to ₹3.66 Cr, mainly reflecting higher depreciation and finance costs.
Depreciation increased from ₹5.11 Cr to ₹10.19 Cr, while finance costs rose from ₹2.58 Cr to ₹4.44 Cr, significantly reducing profit conversion.
2. Key Company Developments
Based on the information provided, no annual report or separate FY26 operational-development information has been supplied. Therefore, specific company developments are not added without supporting information.
From the financial statements:
Revenue contraction: Net revenue declined by ₹16.98 Cr during FY26.
Operating resilience: Despite the revenue decline, EBITDA margin remained almost unchanged at around 15.6%.
Higher depreciation burden: Depreciation nearly doubled to ₹10.19 Cr, indicating a substantially higher charge against operating earnings.
Higher financing cost: Finance costs increased by ₹1.86 Cr, further reducing PBT.
Lower exceptional impact: FY25 included a ₹1.90 Cr exceptional item, while FY26 had no exceptional item.
3. Industry Insights & Trends
Helicopter connectivity: Helicopter services remain important for connecting difficult-to-reach and geographically challenging regions where conventional road and air infrastructure can be limited.
Tourism and pilgrimage demand: Helicopter-based pilgrimage, tourism and charter services can provide an important revenue opportunity, particularly in mountainous regions.
Government and emergency applications: Helicopters have applications across government transportation, disaster response, medical evacuation and other specialised operations.
Fleet utilisation: For helicopter operators, aircraft utilisation and route/contract mix are key drivers of revenue because the business carries significant fixed operating and maintenance costs.
Capital intensity: Fleet-related investments can increase depreciation and financing costs, making asset utilisation and contract visibility important for profitability.
Key Takeaways
Himalayan Heli Services recorded a 12.9% decline in revenue in FY26, while EBITDA declined 12.2%.
Despite lower revenue, EBITDA margin remained stable at 15.65%, indicating relatively steady operating efficiency.
Profitability below EBITDA weakened substantially due to the increase in depreciation and finance costs, resulting in a 67.4% decline in PBT.
Going forward, key areas to monitor are revenue recovery, helicopter utilisation, fleet-related costs, depreciation, financing costs and the company's ability to improve profit conversion.
Financial Charts of Himalayan Heli Services Limited
Balance Sheet of Himalayan Heli Services Limited
Profit and Loss of Himalayan Heli Services Limited
Ancillary of Himalayan Heli Services Limited
Ratio Analysis
Peers
Industry Benchmarking
Segment Revenue
Subsidaries
Security Allotment
Corporate Governance
Team Management Details
FAQs of Himalayan Heli Services Limited
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How to buy Himalayan Heli Services Limited?
Below are three ways through which you can purchase Himalayan Heli Services Limited:
- We at Altius Investech have many actively traded scripts and are market makers of unlisted shares. To check out all the unlisted shares traded. (Click on link). To submit a request to buy Himalayan Heli Services Limited, please click on the trade button at the top of this page
- Additionally, you can download our app from your play store or app store, register on our application, and engage in active trading there.
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How to sell Himalayan Heli Services Limited?
Below are three ways through which you can sell Himalayan Heli Services Limited:
- We at Altius Investech have many actively traded scripts and are market makers of unlisted shares. To check out all the unlisted shares traded. (Click on link). To submit a request to sell Himalayan Heli Services Limited, please click on the trade button at the top of this page
- Additionally, you can download our app from your play store or app store, register on our application, and engage in active trading there.
Download the Altius App here https://onelink.to/hf4m72 - You can also reach out to us at : +91 8240614850 / +91 8240861716
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What is the price of Himalayan Heli Services Limited?
We provide a two way quote on all the shares we deal in. Your buy price for Himalayan Heli Services Limited is ₹180 and your sell price for Himalayan Heli Services Limited is ₹150. The price is based on our estimates and market conditions.
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What is the lock-in period of Himalayan Heli Services Limited?
The lock-in period for Himalayan Heli Services Limited varies depending on the category of investors:
- For retail Investors, HNIs, or Body Corporates, the lock-in period is 6 months from the date of the listing of Himalayan Heli Services Limited
- For Venture Capital Funds or Foreign Venture Capital Investors, there is a lock-in period of 6 months from the date of acquisition of Himalayan Heli Services Limited
- For AIF-II (Alternative Investment Funds - Category II), there is no lock-in period
August 2021 saw the introduction of this regulation by SEBI. The purpose of the regulation change, which lowered the lock-in period from a year to six months, was to incentivize additional investments in firms getting ready for initial public offerings, or IPOs. Since its introduction, a number of Portfolio Management Services (PMS) have advised their clients to purchase Pre-IPO shares in order to take advantage of the advantages associated with early-stage investments. This reduction in the lock-in period is considered as a significant step forward.
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How is the Himalayan Heli Services Limited price calculated?
Fundamental & Comparative valuation models and the forces of demand and supply in the market for unlisted shares dictate the price. These prices are based on our estimates and transaction history of Himalayan Heli Services Limited. The price is also determined from the most recent funding round for Himalayan Heli Services Limited. This provides us with a benchmark valuation, offering a clear indication of the company's current market value as perceived by investors and industry experts.
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What are the lot sizes of Himalayan Heli Services Limited?
We can generally arrange lot sizes starting with an investment of INR 20,000. To confirm the lot sizes of Himalayan Heli Services Limited with us kindly click here.
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What are the financials of Himalayan Heli Services Limited?
The financials of Himalayan Heli Services Limited which includes the P/L of Himalayan Heli Services Limited and the Balance Sheet of Himalayan Heli Services Limited is in the financials section (Click on link).
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Where can I find the annual report of Himalayan Heli Services Limited?
The annual report of Himalayan Heli Services Limited is available in the annual report section (Click on link).
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Is buying Himalayan Heli Services Limited legal in India?
Yes, buying and selling unlisted shares in India is indeed 100% legal. This activity is regulated and governed under the guidelines provided by the Securities and Exchange Board of India (SEBI). Investors and traders must adhere to these regulations and guidelines to ensure compliance with legal and financial standards. It's important for participants in the unlisted share market to be aware of and understand these regulations to engage in transactions legally and securely.
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Short-term Capital Gain taxes to be paid on Himalayan Heli Services Limited?
When you sell unlisted shares within a period of two years from the date of acquisition, any profit earned from the sale is classified as Short-term Capital Gain (STCG). This gain is then added to your total income for that financial year. The tax on this short-term capital gain is calculated based on your applicable individual income tax slab rates. Therefore, the rate at which you will pay tax on the STCG from unlisted shares depends on your total income, including this gain, and the tax slab it falls under as per the prevailing income tax laws in India. It's important for investors to consider these tax implications when engaging in transactions involving unlisted shares.
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Long-term Capital Gain taxes to be paid on Himalayan Heli Services Limited and how are They Taxed?
Long-term Capital Gains (LTCG) on unlisted shares in India refer to the profits earned from the sale of unlisted shares that have been held for more than two years. The key aspects of LTCG on unlisted shares include:
- Tax Rate: LTCG on unlisted shares is taxed at a rate of 20%.
- Indexation Benefit: This is a significant advantage for investors. Indexation allows for adjusting the purchase price of the shares for inflation, which can reduce the taxable gain.
- Importance for Investors: Understanding LTCG is crucial, especially for High Net-worth Individuals (HNIs) and retail investors, as it impacts their investment strategy and tax planning. Knowing these details helps in making informed investment decisions.
- Calculation: LTCG is calculated by subtracting the indexed cost of acquisition (the purchase price adjusted for inflation) from the sale price of the shares. The profit thus calculated is subject to a 20% tax.
- Applicability: LTCG tax is applicable to profits from the sale of unlisted shares held for more than two years.
- Relevance: This tax is particularly relevant to investors in the unlisted share market, including those considering selling their holdings after a period of more than two years.
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Applicability of Taxes on Himalayan Heli Services Limited once it is listed?
When shares initially bought in the unlisted market become listed, the taxation rules change significantly if these shares are sold through a stock exchange. Here's what investors need to know:
Transition to Listed Market Tax Rates: Once unlisted shares are listed on the stock exchange and subsequently sold, the tax rates applicable to listed securities come into effect. This shift means that the favourable tax treatments for listed shares, as per the prevailing tax laws, will apply.
Taxation Based on Holding Period: The crucial factor in determining the type of capital gains tax (Long-term or Short-term) is the holding period of the shares. Importantly, this period is calculated from the original purchase date when the shares were unlisted.
Long-term vs. Short-term Capital Gains: If the shares are sold after being held for more than one year from the date of purchase (including the period when they were unlisted), they are subject to Long-term Capital Gains (LTCG) tax.
Conversely, if sold within one-year, Short-term Capital Gains (STCG) tax rates apply.
Significance for Investors: This information is vital for investors in the unlisted market, as it impacts their tax planning and decision-making process. Understanding these nuances ensures that investors can strategically plan the sale of their shares post-listing to optimize tax implications.
Advice for Investors: It's advisable for investors to keep a record of their purchase dates and monitor the listing dates closely. Additionally, staying updated with the latest tax regulations or consulting with a financial advisor is recommended for accurate tax calculations and compliance. -
How does Altius Investech source Himalayan Heli Services Limited?
At Altius Investech, our approach to sourcing Himalayan Heli Services Limited unlisted shares involves a strategic and direct method. Primarily, we acquire these shares from the below key groups:
Employees of the Company: Employee stock option plans (ESOPs) or other compensation packages frequently include shares for firm employees. For a various reasons, such as including portfolio diversification or financial considerations, some of these employees may eventually choose to sell their shares. We engage with these employees, providing them a platform to sell their shares.
Initial Investors: These are the angel or early-stage investors who provided capital to the business in its early stages. These original investors may look to sell all or part of their ownership position in the company as it develops and flourishes. This might be done for various reasons such as in order to maximise their investment, reallocate resources, or make other calculated financial decisions.
Funding rounds and VC funds: Altius Investech sources the shares from private placement rounds in which private companies seek to obtain capital from the market. Through our platform, venture capital funds can liquidate their shares and we receive the inventory from them when they decide to sell a portion of their ownership through block trades.
By establishing connections with these groups, Altius Investech guarantees our clients a steady and dependable supply of Himalayan Heli Services Limited unlisted shares. This process not only makes it easier for employees and initial investors in liquidating their assets, but it also gives our clients access to shares that aren't often found on the open market. Our platform effectively facilitates a win-win situation for both buyers and sellers. -
How to trust Altius Investech before buying Himalayan Heli Services Limited from its platform?
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With more than 25 years of experience, Altius Investech has carved a niche in the financial market by serving more than 8000 clients. The incredible journey is further highlighted by the vast number of transactions that Altius Investech has facilitated transactions that have already exceeded 300 crores.
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