Interglobe Aviation Ltd

Interglobe Aviation Ltd

₹ 4,769 1.37%
27 Jan - close price
About

Interglobe Aviation Ltd (Indigo) is India’s largest passenger airline operating as a low-cost carrier. Serving 86 destinations including 24 international destinations, it provides passengers with a simple, unbundled product, fulfilling its singular brand promise of providing “low fares, on-time flights, and a courteous and hassle-free service” to its customers. IndiGo commenced operations in August 2006 with a single aircraft and has grown its fleet to 262 aircrafts. [1]

Key Points

Market Leadership
As of FY24, IndiGo has a market share of ~62% in the Indian aviation segment, with the share growing consistently since 2007. It has a market share of ~18% in the international passenger segment. [1] It has become the 7th largest airline in the world measured by daily departures and the first Indian airline with a large fleet of 300+ aircraft. [2]

  • Market Cap 1,84,389 Cr.
  • Current Price 4,769
  • High / Low 6,232 / 4,158
  • Stock P/E 40.2
  • Book Value 223
  • Dividend Yield 0.21 %
  • ROCE 17.3 %
  • ROE 103 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 54.1% CAGR over last 5 years

Cons

  • Stock is trading at 21.4 times its book value
  • Company has low interest coverage ratio.
  • Tax rate seems low
  • Promoter holding has decreased over last 3 years: -30.3%

* 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

Consolidated Figures in Rs. Crores / View Standalone

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
14,933 14,161 16,683 14,944 19,452 17,825 19,571 16,970 22,111 22,152 20,496 18,555 23,472
11,815 11,409 11,709 12,744 14,303 13,832 14,412 15,338 16,932 16,062 15,270 17,976 18,104
Operating Profit 3,118 2,752 4,974 2,200 5,149 3,994 5,159 1,631 5,179 6,089 5,226 580 5,367
OPM % 21% 19% 30% 15% 26% 22% 26% 10% 23% 27% 26% 3% 23%
477 440 478 559 610 680 678 789 882 946 1,046 1,044 -478
Interest 829 918 954 1,021 1,095 1,099 1,158 1,240 1,308 1,374 1,396 1,465 1,545
Depreciation 1,342 1,353 1,408 1,549 1,666 1,803 1,876 2,088 2,226 2,491 2,566 2,640 2,782
Profit before tax 1,423 920 3,091 189 2,998 1,771 2,804 -907 2,527 3,169 2,311 -2,482 562
Tax % 0% 0% 0% 0% 0% -7% 3% 9% 3% 3% 6% 4% 2%
1,423 919 3,091 189 2,998 1,895 2,729 -987 2,449 3,068 2,176 -2,582 549
EPS in Rs 36.91 23.84 80.16 4.90 77.68 49.09 70.70 -25.54 63.38 79.38 56.31 -66.79 14.22
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
18,580 23,021 28,497 35,756 14,641 25,931 54,446 68,904 80,803 84,675
16,362 19,991 28,646 31,666 14,626 25,356 47,915 52,548 62,701 67,413
Operating Profit 2,219 3,030 -149 4,090 14 575 6,531 16,356 18,102 17,263
OPM % 12% 13% -1% 11% 0% 2% 12% 24% 22% 20%
789 947 1,325 1,531 1,037 726 1,435 2,327 3,295 2,558
Interest 406 413 563 1,902 2,170 2,386 3,168 4,208 5,124 5,780
Depreciation 457 437 760 3,974 4,699 5,069 5,103 6,426 8,680 10,480
Profit before tax 2,144 3,127 -147 -256 -5,818 -6,154 -304 8,049 7,593 3,561
Tax % 23% 28% -207% -9% -0% 0% 0% -2% 4%
1,659 2,242 157 -234 -5,806 -6,162 -306 8,172 7,258 3,211
EPS in Rs 45.90 58.33 4.09 -6.07 -150.85 -159.94 -7.93 211.73 187.84 83.12
Dividend Payout % 74% 10% 122% 0% 0% 0% 0% 0% 5%
Compounded Sales Growth
10 Years: %
5 Years: 18%
3 Years: 46%
TTM: 11%
Compounded Profit Growth
10 Years: %
5 Years: 54%
3 Years: 43%
TTM: -25%
Stock Price CAGR
10 Years: 18%
5 Years: 25%
3 Years: 32%
1 Year: 14%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 103%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 361 384 384 385 385 385 386 386 386 387
Reserves 3,418 6,693 6,561 5,493 -274 -6,373 -6,638 1,610 8,982 8,247
2,596 2,254 2,429 22,719 29,860 36,878 44,860 51,280 66,810 74,814
8,834 11,798 15,651 13,504 13,081 15,073 20,562 28,948 39,666 44,788
Total Liabilities 15,210 21,129 25,026 42,101 43,051 45,963 59,170 82,224 115,844 128,236
3,794 4,579 5,662 16,779 18,817 21,284 27,658 36,154 51,782 57,314
CWIP 25 32 24 140 72 125 21 1 3 6
Investments 3,713 6,344 6,517 9,499 7,339 8,106 11,558 16,546 26,093 30,424
7,677 10,174 12,824 15,682 16,823 16,447 19,933 29,524 37,966 40,492
Total Assets 15,210 21,129 25,026 42,101 43,051 45,963 59,170 82,224 115,844 128,236

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
3,782 3,903 3,176 6,972 -1,614 2,091 12,728 21,218 24,151
-3,033 -4,151 -2,526 -4,574 3,179 1,504 -4,043 -11,812 -12,758
-1,401 766 -592 -2,407 -1,775 -3,088 -8,432 -9,978 -11,015
Net Cash Flow -652 518 58 -9 -210 506 253 -573 378

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 3 4 5 3 5 5 3 3 3
Inventory Days
Days Payable
Cash Conversion Cycle 3 4 5 3 5 5 3 3 3
Working Capital Days -72 -70 -64 -147 -416 -287 -141 -144 -123
ROCE % 40% 0% 5% -14% -13% 7% 24% 17%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
67.86% 67.77% 63.25% 63.12% 57.29% 55.29% 49.29% 49.27% 49.27% 43.54% 41.58% 41.57%
19.43% 19.76% 20.29% 18.70% 23.66% 24.43% 25.40% 24.83% 25.12% 27.31% 28.44% 24.99%
10.43% 10.37% 13.25% 14.65% 15.03% 15.36% 20.59% 21.14% 20.66% 24.02% 24.58% 28.08%
0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.07% 0.04%
2.19% 2.02% 3.16% 3.45% 3.95% 4.85% 4.64% 4.69% 4.88% 5.05% 5.32% 5.31%
No. of Shareholders 1,06,2661,05,5111,40,1791,41,1061,70,0592,39,6502,49,0612,73,6772,89,4443,03,0623,16,2463,87,056

* 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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Documents

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