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 ₹ 2,20,129 Cr.
- Current Price ₹ 5,694
- High / Low ₹ 6,232 / 3,778
- Stock P/E 32.8
- Book Value ₹ 241
- Dividend Yield 0.18 %
- ROCE 17.3 %
- ROE 104 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 53.5% CAGR over last 5 years
- Company's median sales growth is 23.8% of last 10 years
Cons
- Stock is trading at 23.4 times its book value
- Promoter holding has decreased over last quarter: -5.73%
- Tax rate seems low
* 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
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
11,117 | 13,925 | 16,140 | 18,580 | 23,021 | 28,497 | 35,756 | 14,641 | 25,931 | 54,446 | 68,904 | 80,803 | 81,729 | |
10,684 | 12,022 | 12,976 | 16,362 | 19,991 | 28,648 | 31,687 | 14,638 | 25,373 | 47,926 | 52,573 | 62,753 | 63,664 | |
Operating Profit | 433 | 1,904 | 3,164 | 2,219 | 3,030 | -151 | 4,069 | 2 | 558 | 6,521 | 16,331 | 18,050 | 18,065 |
OPM % | 4% | 14% | 20% | 12% | 13% | -1% | 11% | 0% | 2% | 12% | 24% | 22% | 22% |
391 | 395 | 515 | 789 | 947 | 1,325 | 1,531 | 1,036 | 725 | 1,431 | 2,326 | 3,307 | 3,674 | |
Interest | 123 | 150 | 350 | 406 | 413 | 563 | 1,902 | 2,170 | 2,386 | 3,168 | 4,208 | 5,133 | 5,334 |
Depreciation | 226 | 302 | 505 | 457 | 437 | 760 | 3,974 | 4,699 | 5,068 | 5,101 | 6,406 | 8,637 | 9,323 |
Profit before tax | 475 | 1,847 | 2,824 | 2,144 | 3,127 | -149 | -275 | -5,830 | -6,171 | -317 | 8,043 | 7,588 | 7,081 |
Tax % | 0% | 29% | 30% | 23% | 28% | -205% | -10% | 0% | 0% | 0% | -2% | 4% | |
474 | 1,304 | 1,986 | 1,659 | 2,242 | 156 | -248 | -5,830 | -6,171 | -317 | 8,168 | 7,253 | 6,688 | |
EPS in Rs | 15,454.07 | 42,481.11 | 55.12 | 45.90 | 58.33 | 4.06 | -6.45 | -151.46 | -160.18 | -8.21 | 211.60 | 187.70 | 173.04 |
Dividend Payout % | 80% | 83% | 27% | 74% | 10% | 123% | 0% | 0% | 0% | 0% | 0% | 5% |
Compounded Sales Growth | |
---|---|
10 Years: | 19% |
5 Years: | 18% |
3 Years: | 46% |
TTM: | 14% |
Compounded Profit Growth | |
---|---|
10 Years: | 17% |
5 Years: | 53% |
3 Years: | 43% |
TTM: | -14% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 33% |
3 Years: | 47% |
1 Year: | 23% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
Last Year: | 104% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 31 | 31 | 360 | 361 | 384 | 384 | 385 | 385 | 385 | 386 | 386 | 386 |
Reserves | 373 | 386 | 2,363 | 3,418 | 6,693 | 6,560 | 5,478 | -314 | -6,421 | -6,695 | 1,546 | 8,920 |
3,350 | 3,930 | 3,245 | 2,596 | 2,453 | 2,429 | 22,719 | 29,860 | 36,878 | 44,860 | 51,280 | 67,088 | |
5,348 | 6,443 | 6,662 | 8,834 | 11,599 | 15,638 | 13,467 | 13,044 | 15,018 | 20,492 | 28,857 | 39,519 | |
Total Liabilities | 9,102 | 10,789 | 12,630 | 15,210 | 21,129 | 25,012 | 42,048 | 42,974 | 45,860 | 59,043 | 82,069 | 115,914 |
3,956 | 4,876 | 4,747 | 3,794 | 4,579 | 5,662 | 16,778 | 18,815 | 21,282 | 27,650 | 36,036 | 51,565 | |
CWIP | 0 | 0 | 32 | 25 | 32 | 24 | 140 | 72 | 125 | 21 | 1 | 3 |
Investments | 1,272 | 517 | 986 | 3,713 | 6,344 | 6,517 | 9,499 | 7,290 | 8,033 | 11,514 | 16,453 | 26,402 |
3,874 | 5,396 | 6,864 | 7,677 | 10,174 | 12,809 | 15,631 | 16,797 | 16,420 | 19,858 | 29,578 | 37,944 | |
Total Assets | 9,102 | 10,789 | 12,630 | 15,210 | 21,129 | 25,012 | 42,048 | 42,974 | 45,860 | 59,043 | 82,069 | 115,914 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
1,595 | 2,384 | 3,116 | 3,782 | 3,903 | 3,160 | 6,943 | -1,620 | 2,064 | 12,703 | 21,183 | 24,065 | |
-2,914 | -940 | -1,337 | -3,033 | -4,152 | -2,526 | -4,573 | 3,228 | 1,527 | -4,039 | -11,759 | -12,782 | |
1,285 | -1,308 | -1,220 | -1,401 | 766 | -592 | -2,407 | -1,775 | -3,088 | -8,432 | -9,978 | -10,975 | |
Net Cash Flow | -34 | 136 | 559 | -652 | 518 | 42 | -37 | -168 | 503 | 232 | -555 | 308 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 3 | 3 | 4 | 3 | 4 | 5 | 3 | 5 | 5 | 3 | 3 | 3 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 3 | 3 | 4 | 3 | 4 | 5 | 3 | 5 | 5 | 3 | 3 | 3 |
Working Capital Days | -76 | -60 | -63 | -72 | -70 | -64 | -146 | -415 | -287 | -141 | -144 | -123 |
ROCE % | 17% | 47% | 61% | 38% | 40% | 0% | 5% | -14% | -13% | 7% | 25% | 17% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
1 Oct - InterGlobe Aviation Limited has informed regarding allotment of ESOPs
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Clarification On Volume Movement
30 Sep - Company clarifies increased trading volume; all Reg 30 disclosures made, no pending information for disclosure.
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Clarification sought from InterGlobe Aviation Ltd
30 Sep - Exchange has sought clarification from InterGlobe Aviation Ltd on September 30, 2025, with reference to Movement in Volume.
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Closure of Trading Window
26 Sep - Trading window closed Oct 1, 2025 until 48 hours after Q2 (Sept 30, 2025) results declaration.
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Announcement under Regulation 30 (LODR)-Change in Directorate
17 Sep - IndiGo received MoCA clearance; Amitabh Kant appointed Additional Non-Executive Non-Independent Director effective September 15, 2025.
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]