SpiceJet Ltd

SpiceJet Ltd

₹ 64.0 -0.19%
01 Mar - close price
About

SpiceJet Ltd is principally engaged in the business of providing air transport services for the carriage of passengers and cargo.[1]

Key Points

Market Share
The company is the 2nd largest player in the domestic aviation industry with a market share of ~13%.[1] It also has a market share of ~13% in the international aviation market among the domestic players and is the 3rd largest player behind Air India and Indigo Airlines.[2] It is the largest cargo operator in India.[3]

  • Market Cap 4,383 Cr.
  • Current Price 64.0
  • High / Low 77.5 / 22.6
  • Stock P/E
  • Book Value -44.2
  • Dividend Yield 0.00 %
  • ROCE -24.4 %
  • ROE %
  • Face Value 10.0

Pros

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -8.04%
  • The company has delivered a poor sales growth of 2.72% over past five years.
  • Promoters have pledged 38.8% of their holding.
  • Earnings include an other income of Rs.1,439 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023
1,055 1,687 1,877 1,090 1,343 2,259 1,866 2,457 1,953 2,315 2,145 2,002 1,425
851 1,442 1,956 1,510 1,645 2,169 2,161 2,858 2,518 2,374 2,143 1,734 1,856
Operating Profit 204 245 -79 -420 -302 91 -295 -401 -566 -60 2 268 -431
OPM % 19% 15% -4% -39% -23% 4% -16% -16% -29% -3% 0% 13% -30%
238 189 249 176 196 343 259 22 152 515 357 266 301
Interest 139 111 92 137 114 88 144 130 143 115 118 122 113
Depreciation 416 380 314 348 342 323 278 280 281 234 224 207 188
Profit before tax -113 -57 -235 -729 -562 23 -458 -789 -838 107 17 205 -432
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
-113 -57 -235 -729 -562 23 -458 -789 -838 107 17 205 -432
EPS in Rs -1.88 -0.95 -3.92 -12.12 -9.34 0.39 -7.61 -13.11 -13.92 1.77 0.28 3.40 -6.31
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
3,900 5,550 6,237 5,163 5,088 6,191 7,756 9,113 12,359 5,133 6,557 8,869 7,886
4,495 5,746 7,084 5,776 4,542 5,646 6,992 9,119 11,842 4,958 7,480 9,892 8,108
Operating Profit -595 -195 -847 -613 546 545 764 -6 517 175 -923 -1,023 -221
OPM % -15% -4% -14% -12% 11% 9% 10% -0% 4% 3% -14% -12% -3%
74 204 131 218 210 150 127 79 828 866 973 1,046 1,439
Interest 54 117 139 165 126 66 93 134 546 482 486 507 468
Depreciation 31 84 148 127 180 199 231 256 1,734 1,558 1,290 1,019 853
Profit before tax -606 -191 -1,003 -687 450 431 567 -316 -935 -998 -1,725 -1,503 -103
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
-606 -191 -1,003 -687 450 431 567 -316 -935 -998 -1,725 -1,503 -103
EPS in Rs -13.72 -3.95 -18.74 -11.46 7.50 7.19 9.45 -5.27 -15.58 -16.61 -28.67 -24.97 -0.86
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 5%
5 Years: 3%
3 Years: -10%
TTM: -8%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: -29%
TTM: 95%
Stock Price CAGR
10 Years: 17%
5 Years: -5%
3 Years: -10%
1 Year: 75%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: %

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 441 484 535 599 599 599 599 600 600 601 602 602 684
Reserves -589 -722 -1,588 -2,214 -1,638 -1,209 -642 -950 -2,179 -3,172 -4,890 -3,833 -3,708
1,009 1,802 1,709 1,477 1,230 1,155 1,303 1,110 1,097 9,514 8,330 7,348 6,736
1,109 1,507 2,291 2,744 2,656 2,445 2,772 4,048 13,354 4,417 5,479 6,163 5,730
Total Liabilities 1,970 3,071 2,947 2,607 2,847 2,991 4,032 4,807 12,872 11,360 9,520 10,280 9,442
850 1,794 1,877 1,714 1,628 1,620 1,598 1,604 8,681 7,000 5,540 3,973 3,030
CWIP 0 1 1 0 0 0 0 0 0 6 6 6 5
Investments 0 0 0 0 20 140 101 0 1 3 3 3 9
1,120 1,276 1,070 893 1,199 1,231 2,333 3,203 4,190 4,351 3,972 6,297 6,398
Total Assets 1,970 3,071 2,947 2,607 2,847 2,991 4,032 4,807 12,872 11,360 9,520 10,280 9,442

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-105 -54 59 -411 711 496 1,046 456 1,778 226 978 93
-666 -741 -50 304 -275 -491 -806 -146 -156 210 -122 561
977 791 -221 126 -379 -62 -140 -364 -1,659 -435 -876 -632
Net Cash Flow 206 -3 -212 19 58 -57 100 -54 -37 1 -20 23

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 2 7 9 9 3 4 4 6 9 25 14 6
Inventory Days
Days Payable
Cash Conversion Cycle 2 7 9 9 3 4 4 6 9 25 14 6
Working Capital Days -91 -60 -106 -121 -141 -102 -97 -77 -117 -97 -155 -147
ROCE % -87% -6% -78% -224% 1,952% 124% 72% -12% -269% -16% -21% -24%

Shareholding Pattern

Numbers in percentages

4 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Feb 2024
59.54% 59.46% 59.46% 59.40% 59.40% 59.39% 59.39% 58.98% 58.98% 56.53% 55.28% 48.49%
1.12% 1.18% 1.16% 1.19% 1.18% 1.19% 0.65% 0.43% 0.35% 0.29% 0.33% 6.21%
2.12% 1.02% 0.80% 0.03% 0.04% 0.04% 0.01% 0.01% 0.01% 0.01% 0.04% 0.19%
37.22% 38.34% 38.59% 39.38% 39.38% 39.37% 39.95% 40.58% 40.67% 43.16% 44.35% 45.12%
No. of Shareholders 3,76,2133,91,1743,89,4713,93,2823,93,8553,97,2943,93,2003,89,9823,89,7003,99,6184,04,1074,01,892

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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