Interglobe Aviation Ltd.

•

goindigo.inBSE: 539448NSE: INDIGO

Market Cap₹ 1,92,328 Cr.

Current Price

High / Low₹ 5,970 / 3,895

Stock P/E—

Book Value₹ 173

Price to Book22.08

Dividend Yield0.00 %

ROCE39.9 %

ROE-29.6 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Air Transportation Services: 100.0%

AI Sector View

AI GENERATED

Services

Buy

Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.

Confidence

72%

View full sector analysis →

PROS

Company has a healthy return on capital (ROCE) of 69.6%
Company has a good return on equity (ROE) track record: 3 Years ROE 33.3%
Company has delivered good sales growth of 42.1% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 5.28x)
Company generates healthy free cash flow
Company maintains a comfortable, low leverage position

CONS

Company is loss-making at the operating / net level
Recent results are weak - TTM profit is down 145.8% versus prior year
Promoter holding has decreased over last 2 years: -13.7pp
Interest coverage is weak at 0.7x - earnings barely cover interest
Effective tax rate is unusually low at -22.1% - earnings may be flattered
Stock is trading at 22.1x its book value

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ServicesAviationAirlines

Part ofNIFTY 50 NIFTYLARGEMIDCAP250 NIFTY CONSUMPTION NIFTY100 EQL WGT NIFTY TOTAL MKT

S.No.	Name
1.	INDIGO	4974.00	0.00	192327.97	0.00	-238.00	-110.94	24584.10	19.94	39.95	13.29
2.	RAYMOND	1003.20	180.12	6678.68	0.00	30.85	-99.94	605.61	15.51	-0.54	12.72
3.	TAALTECH	5367.10	26.79	1672.57	1.21	194.34	1317.30	648.11	1316.08	33.33	34.03
4.	SPICEJET	8.55	0.00	1304.82	0.00	-261.70	-1390.90	1345.47	14.14	0.00	-16.38
5.	TANAA	265.70	35.65	677.55	0.94	5.74	62.05	10.31	21.04	15.52	72.30
6.	GLOBALVECT	133.40	0.00	186.76	0.00	-11.85	-25.64	130.71	1.05	28.74	8.85

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	16,683	14,944	19,452	17,825	19,571	16,970	22,111	22,152	20,496	18,555	23,472	22,438	24,584
	11,825	12,744	14,303	13,832	14,412	15,338	16,932	16,062	15,270	17,976	18,104	21,628	25,852
Operating Profit	4,858	2,200	5,149	3,994	5,159	1,631	5,179	6,089	5,226	580	5,367	810	-1,268
OPM %	29.12%	14.72%	26.47%	22.40%	26.36%	9.61%	23.42%	27.49%	25.50%	3.12%	22.87%	3.61%	-5.16%
	594	559	610	680	678	789	882	946	1,046	1,044	-478	1,142	1,030
Interest	954	1,021	1,095	1,099	1,158	1,240	1,308	1,374	1,396	1,465	1,545	1,485	1,565
Depreciation	1,408	1,549	1,666	1,803	1,876	2,088	2,226	2,491	2,566	2,640	2,782	2,820	2,970
Profit before Tax	3,091	189	2,998	1,771	2,804	-907	2,527	3,169	2,311	-2,482	562	-2,352	-238
Tax %	0.00%	0.11%	0.01%	-6.99%	2.68%	-8.78%	3.10%	3.22%	5.82%	-4.05%	2.33%	-7.88%	0.17%
Net Profit	0	0	0	0	2,729	-987	2,449	3,068	2,176	-2,582	549	-2,537	-238
	80.16	4.90	77.69	49.09	70.70	-25.55	63.38	79.38	56.31	-66.79	14.22	-65.62	-6.15

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	Mar 2026	TTM
	18,580	23,021	28,497	35,756	14,641	25,931	54,446	68,904	80,803	84,962	89,050
	16,383	19,991	28,646	31,672	15,177	25,356	47,915	52,548	62,701	72,925	83,561
Operating Profit	2,198	3,030	-149	4,084	-536	575	6,531	16,356	18,102	12,037	5,488
OPM %	11.83%	13.16%	-0.52%	11.42%	-3.66%	2.22%	12.00%	23.74%	22.40%	14.17%	6.16%
	810	947	1,325	1,536	1,587	726	1,435	2,327	3,295	2,755	2,739
Interest	406	413	563	1,902	2,170	2,386	3,168	4,208	5,124	5,944	6,060
Depreciation	457	437	760	3,974	4,699	5,069	5,103	6,426	8,680	10,808	11,212
Profit before Tax	2,144	3,127	-147	-256	-5,818	-6,154	-304	8,049	7,593	-1,960	-4,510
Tax %	22.63%	28.28%	206.70%	8.60%	0.20%	-0.13%	-0.46%	-1.53%	4.41%	-22.09%	-6.61%
Net Profit	1,659	2,242	157	-234	-5,806	-6,162	-306	8,172	7,258	-2,394	-4,808
EPS	45.85	59.90	4.09	-6.07	-150.89	-160.01	-7.93	211.72	187.85	-61.87	—
Dividend Payout %	74.07%	10.29%	122.23%	0.00%	0.00%	0.00%	0.00%	0.00%	5.32%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 42%
3 Years:: 16%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: 19%
5 Years:: 21%
3 Years:: 26%
1 Year:: -12%

RETURN ON EQUITY

10 Years:: -1%
5 Years:: 20%
3 Years:: 33%
Last Year:: -30%

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	Mar 2026
Equity Capital	361	384	384	385	385	385	386	386	386	387
Minority Interest	0	0	0	0	0	0	0	0	0	16
	3,363	6,639	6,521	5,483	-309	-6,422	-6,680	1,550	8,876	6,520
	6,562	7,574	9,966	19,561	25,588	32,424	42,481	49,091	71,650	89,240
Trade Payables	775	1,000	1,453	1,568	1,551	3,152	3,209	3,158	4,176	4,990
	6,080	8,172	9,353	17,464	18,183	18,778	22,131	30,272	33,322	37,846
Total Liabilities	17,141	23,769	27,676	44,460	45,399	48,318	61,526	84,456	1,18,409	1,38,999
	3,794	4,579	5,662	16,779	18,817	21,284	27,658	36,154	51,782	63,157
Capital Work in Progress	23	29	22	129	66	119	0	0	1	39
	3,713	6,344	6,517	9,499	7,339	8,106	11,558	16,546	26,093	27,675
	163	183	211	286	316	408	591	625	820	985
	0	0	0	0	0	0	0	642	740	600
Cash & Bank	4,633	6,581	8,622	10,872	11,228	10,120	11,840	16,721	18,963	23,999
	4,814	6,053	6,642	6,893	7,632	8,280	9,879	13,769	20,011	22,544
Total Assets	17,141	23,769	27,676	44,460	45,399	48,318	61,526	84,456	1,18,409	1,38,999

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	Mar 2026
	4,206	4,641	3,272	7,287	-1,538	2,289	13,117	21,218	24,151	23,470
Cash from Investing	-3,038	-4,160	-2,536	-4,568	3,197	1,502	-4,059	-11,809	-12,759	-1,952
Cash from Financing	-1,401	766	-592	-2,407	-1,775	-3,088	-8,432	-9,978	-11,015	-21,276
	-657	510	47	-4	-192	505	236	-570	377	241

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	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	55.29	49.29	49.27	49.27	43.54	41.58	41.58	41.57	41.57
	24.43	25.39	24.83	25.11	27.31	28.44	24.99	21.64	20.32
	15.36	20.59	21.14	20.66	24.02	24.58	28.08	31.14	31.85
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Public	4.83	4.65	4.69	4.88	5.06	5.32	5.31	5.60	6.22

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-20

Shareholders meeting

2026-08-20 - InterGlobe Aviation Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 20, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-20

Shareholders meeting

2026-08-20 - InterGlobe Aviation Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 20, 2026

2026-08-18

Action(s) taken or orders passed

2026-08-18 - InterGlobe Aviation Limited has informed the Exchange about Action(s) taken or orders passed

2026-08-03

Press Release

2026-08-03 - InterGlobe Aviation Limited has informed the Exchange regarding a press release dated August 03, 2026.

2026-07-31

Press Release

2026-07-31 - InterGlobe Aviation Limited has informed the Exchange regarding a Press Release.

2026-07-29

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-29 - InterGlobe Aviation Limited has informed the Exchange about Transcript

2026-07-29

Copy of Newspaper Publication

2026-07-29 - InterGlobe Aviation Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-28

Shareholders meeting

2026-07-28 - InterGlobe Aviation Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 20, 2026

2026-07-28

General Updates

2026-07-28 - InterGlobe Aviation Limited has informed about the physical letters being sent to the shareholders who have not registered their email address

News

Recent coverage and analyst commentary for INDIGO

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Interglobe Aviation Ltd.

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Free 5nance Account

Name

INDIGO

4974.00

0.00

192327.97

0.00

-238.00

-110.94

24584.10

19.94

39.95

13.29

RAYMOND

1003.20

180.12

6678.68

0.00

30.85

-99.94

605.61

15.51

-0.54

12.72

TAALTECH

5367.10

26.79

1672.57

1.21

194.34

1317.30

648.11

1316.08

33.33

34.03

SPICEJET

8.55

0.00

1304.82

0.00

-261.70

-1390.90

1345.47

14.14

0.00

-16.38

TANAA

265.70

35.65

677.55

0.94

5.74

62.05

10.31

21.04

15.52

72.30

GLOBALVECT

133.40

0.00

186.76

0.00

-11.85

-25.64

130.71

1.05

28.74

8.85

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

16,683

14,944

19,452

17,825

19,571

16,970

22,111

22,152

20,496

18,555

23,472

22,438

24,584

11,825

12,744

14,303

13,832

14,412

15,338

16,932

16,062

15,270

17,976

18,104

21,628

25,852

Operating Profit

4,858

2,200

5,149

3,994

5,159

1,631

5,179

6,089

5,226

580

5,367

810

-1,268

OPM %

29.12%

14.72%

26.47%

22.40%

26.36%

9.61%

23.42%

27.49%

25.50%

3.12%

22.87%

3.61%

-5.16%

594

559

610

680

678

789

882

946

1,046

1,044

-478

1,142

1,030

Interest

954

1,021

1,095

1,099

1,158

1,240

1,308

1,374

1,396

1,465

1,545

1,485

1,565

Depreciation

1,408

1,549

1,666

1,803

1,876

2,088

2,226

2,491

2,566

2,640

2,782

2,820

2,970

Profit before Tax

3,091

189

2,998

1,771

2,804

-907

2,527

3,169

2,311

-2,482

562

-2,352

-238

Tax %

0.00%

0.11%

0.01%

-6.99%

2.68%

-8.78%

3.10%

3.22%

5.82%

-4.05%

2.33%

-7.88%

0.17%

Net Profit

2,729

-987

2,449

3,068

2,176

-2,582

549

-2,537

-238

80.16

4.90

77.69

49.09

70.70

-25.55

63.38

79.38

56.31

-66.79

14.22

-65.62

-6.15

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

18,580

23,021

28,497

35,756

14,641

25,931

54,446

68,904

80,803

84,962

89,050

16,383

19,991

28,646

31,672

15,177

25,356

47,915

52,548

62,701

72,925

83,561

Operating Profit

2,198

3,030

-149

4,084

-536

575

6,531

16,356

18,102

12,037

5,488

OPM %

11.83%

13.16%

-0.52%

11.42%

-3.66%

2.22%

12.00%

23.74%

22.40%

14.17%

6.16%

810

947

1,325

1,536

1,587

726

1,435

2,327

3,295

2,755

2,739

Interest

406

413

563

1,902

2,170

2,386

3,168

4,208

5,124

5,944

6,060

Depreciation

457

437

760

3,974

4,699

5,069

5,103

6,426

8,680

10,808

11,212

Profit before Tax

2,144

3,127

-147

-256

-5,818

-6,154

-304

8,049

7,593

-1,960

-4,510

Tax %

22.63%

28.28%

206.70%

8.60%

0.20%

-0.13%

-0.46%

-1.53%

4.41%

-22.09%

-6.61%

Net Profit

1,659

2,242

157

-234

-5,806

-6,162

-306

8,172

7,258

-2,394

-4,808

EPS

45.85

59.90

4.09

-6.07

-150.89

-160.01

-7.93

211.72

187.85

-61.87

—

Dividend Payout %

74.07%

10.29%

122.23%

0.00%

5.32%

0.00%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

361

384

385

386

387

Minority Interest

3,363

6,639

6,521

5,483

-309

-6,422

-6,680

1,550

8,876

6,520

6,562

7,574

9,966

19,561

25,588

32,424

42,481

49,091

71,650

89,240

Trade Payables

775

1,000

1,453

1,568

1,551

3,152

3,209

3,158

4,176

4,990

6,080

8,172

9,353

17,464

18,183

18,778

22,131

30,272

33,322

37,846

Total Liabilities

17,141

23,769

27,676

44,460

45,399

48,318

61,526

84,456

1,18,409

1,38,999

3,794

4,579

5,662

16,779

18,817

21,284

27,658

36,154

51,782

63,157

Capital Work in Progress

129

119

3,713

6,344

6,517

9,499

7,339

8,106

11,558

16,546

26,093

27,675

163

183

211

286

316

408

591

625

820

985

642

740

600

Cash & Bank

4,633

6,581

8,622

10,872

11,228

10,120

11,840

16,721

18,963

23,999

4,814

6,053

6,642

6,893

7,632

8,280

9,879

13,769

20,011

22,544

Total Assets

17,141

23,769

27,676

44,460

45,399

48,318

61,526

84,456

1,18,409

1,38,999

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

4,206

4,641

3,272

7,287

-1,538

2,289

13,117

21,218

24,151

23,470

Cash from Investing

-3,038

-4,160

-2,536

-4,568

3,197

1,502

-4,059

-11,809

-12,759

-1,952

Cash from Financing

-1,401

766

-592

-2,407

-1,775

-3,088

-8,432

-9,978

-11,015

-21,276

-657

510

-4

-192

505

236

-570

377

241

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

55.29

49.29

49.27

43.54

41.58

41.57

24.43

25.39

24.83

25.11

27.31

28.44

24.99

21.64

20.32

15.36

20.59

21.14

20.66

24.02

24.58

28.08

31.14

31.85

Government

0.00

Public

4.83

4.65

4.69

4.88

5.06

5.32

5.31

5.60

6.22

Interglobe Aviation Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Interglobe Aviation Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI