Interglobe Aviation Ltd
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]
- Market Cap ₹ 2,05,972 Cr.
- Current Price ₹ 5,330
- High / Low ₹ 5,666 / 3,778
- Stock P/E 28.4
- Book Value ₹ 242
- Dividend Yield 0.00 %
- ROCE 19.6 %
- ROE 128 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 59.5% CAGR over last 5 years
Cons
- Stock is trading at 22.0 times its book value
- Tax rate seems low
- Promoter holding has decreased over last 3 years: -25.5%
* 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.
Peer comparison
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Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 | |
---|---|---|---|---|---|---|---|---|---|
18,580 | 23,021 | 28,497 | 35,756 | 14,641 | 25,931 | 54,446 | 68,904 | 80,803 | |
16,362 | 19,991 | 28,646 | 31,666 | 14,626 | 25,356 | 47,915 | 52,548 | 62,745 | |
Operating Profit | 2,219 | 3,030 | -149 | 4,090 | 14 | 575 | 6,531 | 16,356 | 18,058 |
OPM % | 12% | 13% | -1% | 11% | 0% | 2% | 12% | 24% | 22% |
789 | 947 | 1,325 | 1,531 | 1,037 | 726 | 1,435 | 2,327 | 3,295 | |
Interest | 406 | 413 | 563 | 1,902 | 2,170 | 2,386 | 3,168 | 4,208 | 5,080 |
Depreciation | 457 | 437 | 760 | 3,974 | 4,699 | 5,069 | 5,103 | 6,426 | 8,680 |
Profit before tax | 2,144 | 3,127 | -147 | -256 | -5,818 | -6,154 | -304 | 8,049 | 7,593 |
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 | |
EPS in Rs | 45.90 | 58.33 | 4.09 | -6.07 | -150.85 | -159.94 | -7.93 | 211.73 | 187.84 |
Dividend Payout % | 74% | 10% | 122% | 0% | 0% | 0% | 0% | 0% | 5% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 18% |
3 Years: | 46% |
TTM: | 17% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 60% |
3 Years: | 46% |
TTM: | 1% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 41% |
3 Years: | 43% |
1 Year: | 27% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
Last Year: | 128% |
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 | |
---|---|---|---|---|---|---|---|---|---|
Equity Capital | 361 | 384 | 384 | 385 | 385 | 385 | 386 | 386 | 386 |
Reserves | 3,418 | 6,693 | 6,561 | 5,493 | -274 | -6,373 | -6,638 | 1,610 | 8,982 |
2,596 | 2,254 | 2,429 | 22,719 | 29,860 | 36,878 | 44,860 | 51,280 | 66,810 | |
8,834 | 11,798 | 15,651 | 13,504 | 13,081 | 15,073 | 20,562 | 28,948 | 39,666 | |
Total Liabilities | 15,210 | 21,129 | 25,026 | 42,101 | 43,051 | 45,963 | 59,170 | 82,225 | 115,844 |
3,794 | 4,579 | 5,662 | 16,779 | 18,817 | 21,284 | 27,658 | 36,154 | 51,784 | |
CWIP | 25 | 32 | 24 | 140 | 72 | 125 | 21 | 1 | 1 |
Investments | 3,713 | 6,344 | 6,517 | 9,499 | 7,339 | 8,106 | 11,558 | 16,546 | 26,093 |
7,677 | 10,174 | 12,824 | 15,682 | 16,823 | 16,447 | 19,933 | 29,524 | 37,966 | |
Total Assets | 15,210 | 21,129 | 25,026 | 42,101 | 43,051 | 45,963 | 59,170 | 82,225 | 115,844 |
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 | -12,759 | |
-1,401 | 766 | -592 | -2,407 | -1,775 | -3,088 | -8,432 | -9,979 | -11,015 | |
Net Cash Flow | -652 | 518 | 58 | -9 | -210 | 506 | 253 | -573 | 377 |
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 | -81 | -186 | -127 | -57 | -73 | 44 |
ROCE % | 40% | 0% | 5% | -14% | -13% | 7% | 24% | 20% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
56s - IndiGo doubles Airbus A350-900 order from 30 to 60 aircraft for long-haul expansion starting 2027.
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Compliances-Reg.24(A)-Annual Secretarial Compliance
1d - Annual Secretarial Compliance Report filed for FY ended March 31, 2025 as per SEBI regulations.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
28 May - InterGlobe Aviation Limited informed regarding Transcript.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
28 May - Mr. Vikram Singh Mehta appointed IndiGo Chairman, succeeding Dr. Venkataramani Sumantran after five-year term.
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Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
28 May - Chinkerpoo Family Trust sold 1.98 crore shares, reducing stake in InterGlobe Aviation from 8.23% to 3.08%.
Annual reports
Concalls
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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]