Login
Products
Login
Home
Alerts
Search
Watchlist
Products

Interglobe Aviation Ltd

INDIGO
NSE
4,345.20
2.19%
Last Updated:
29 Apr '26, 4:00 PM
Company Overview
Guidance Tracker
Alert
Watchlist
Note

Interglobe Aviation Ltd

INDIGO
NSE
4,345.20
2.19%
29 Apr '26, 4:00 PM
Company Overview
Guidance Tracker
Add Alert
Add to Watchlist
Edit Note
6M
Price
Charts
Documents

Quick Ratios

Edit Ratios
Mkt Cap
Market Capitalization
1,68,010Cr
Close
Close Price
4,345.20
Industry
Industry
Air Transport Service
PE
Price To Earnings
52.28
PS
Price To Sales
1.98
Revenue
Revenue
84,675Cr
Rev Gr TTM
Revenue Growth TTM
10.72%
PAT Gr TTM
PAT Growth TTM
-47.24%
Peer Comparison
How does INDIGO stack up?
Compare up to 10 companies side by side across valuation, profitability, and growth.
INDIGO
VS

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
14,16116,68314,94419,45217,82519,57116,97022,11122,15220,49618,55523,472
Growth YoY
Revenue Growth YoY%
76.529.819.630.325.917.313.613.724.34.79.36.2
Expenses
ExpensesCr
11,40911,70912,74414,30313,83214,41215,33916,93216,06315,27017,97618,105
Operating Profit
Operating ProfitCr
2,7524,9742,2005,1493,9945,1591,6315,1796,0895,2275805,367
OPM
OPM%
19.429.814.726.522.426.49.623.427.525.53.122.9
Other Income
Other IncomeCr
4404785596106806787898829461,0461,044-478
Interest Expense
Interest ExpenseCr
9189541,0211,0951,0991,1581,2401,3081,3741,3961,4651,545
Depreciation
DepreciationCr
1,3531,4081,5491,6661,8031,8762,0882,2262,4912,5662,6412,782
PBT
PBTCr
9203,0911892,9991,7712,804-9072,5273,1692,311-2,482562
Tax
TaxCr
1000-12475807810213410013
PAT
PATCr
9193,0911892,9981,8952,729-9872,4493,0682,176-2,582549
Growth YoY
PAT Growth YoY%
154.7390.4111.9110.8106.1-11.7-622.3-18.361.9-20.3-161.7-77.6
NPM
NPM%
6.518.51.315.410.613.9-5.811.113.810.6-13.92.3
EPS
EPS
23.880.24.977.749.170.7-25.663.479.456.3-66.814.2

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
18,58123,02128,49735,75614,64125,93154,44668,90480,80384,675
Growth
Revenue Growth%
23.923.825.5-59.077.1110.026.617.34.8
Expenses
ExpensesCr
16,43720,06428,70031,69714,65425,38447,95152,58762,74567,413
Operating Profit
Operating ProfitCr
2,1432,956-2034,059-145476,49516,31818,05817,263
OPM
OPM%
11.512.8-0.711.3-0.12.111.923.722.420.4
Other Income
Other IncomeCr
7899471,3251,5361,0377261,4352,3273,2952,558
Interest Expense
Interest ExpenseCr
3313405091,8762,1422,3583,1324,1695,0805,780
Depreciation
DepreciationCr
4574377603,9744,6995,0695,1036,4268,68010,480
PBT
PBTCr
2,1443,127-147-256-5,818-6,154-3048,0497,5933,561
Tax
TaxCr
485884-305-22-1281-123335350
PAT
PATCr
1,6592,242157-234-5,806-6,162-3068,1737,2583,211
Growth
PAT Growth%
35.1-93.0-248.6-2,384.8-6.195.02,772.6-11.2-55.8
NPM
NPM%
8.99.70.6-0.7-39.7-23.8-0.611.99.03.8
EPS
EPS
45.960.04.1-6.1-150.9-160.0-7.9211.8187.983.1

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
361384384385385385386386386387
Reserves
ReservesCr
3,4126,6876,5565,487-280-6,379-6,6381,6118,9828,247
Current Liabilities
Current LiabilitiesCr
4,7856,1238,01016,43718,92422,41723,85130,79834,21839,783
Non Current Liabilities
Non Current LiabilitiesCr
6,6467,92910,07119,78624,01729,53441,56549,43072,25879,818
Total Liabilities
Total LiabilitiesCr
15,21021,12925,02742,10143,05145,96359,17082,2251,15,8441,28,236
Current Assets
Current AssetsCr
9,44614,63218,11722,45620,81420,22926,14935,85350,70357,221
Non Current Assets
Non Current AssetsCr
5,7636,4986,91019,64522,23725,73433,02146,37165,14071,014
Total Assets
Total AssetsCr
15,21021,12925,02742,10143,05145,96359,17082,2251,15,8441,28,236

Cash Flow

Consolidated
Standalone
Financial YearMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
3,7823,9033,1766,972-1,6142,09112,72821,21824,151
Investing Cash Flow
Investing Cash FlowCr
-3,038-4,160-2,536-4,5683,1971,502-4,059-11,809-12,759
Financing Cash Flow
Financing Cash FlowCr
-1,401766-592-2,407-1,775-3,088-8,432-9,979-11,015
Net Cash Flow
Net Cash FlowCr
-65751047-4-192505236-570377
Free Cash Flow
Free Cash FlowCr
4,1582,6831,4695,910-2,0351,75012,16320,70922,558
CFO To PAT
CFO To PAT%
227.9174.12,019.5-2,983.527.8-33.9-4,162.3259.6332.7
CFO To EBITDA
CFO To EBITDA%
176.5132.0-1,561.0171.811,864.4382.0195.9130.0133.7

Ratios

Consolidated
Standalone
Financial YearMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
37,97849,45454,85941,10662,93177,56573,7261,36,8101,97,578
Price To Earnings
Price To Earnings
22.922.1348.90.00.00.00.016.727.2
Price To Sales
Price To Sales
2.02.11.91.14.33.01.42.02.5
Price To Book
Price To Book
10.17.07.97.0598.9-12.9-11.868.521.1
EV To EBITDA
EV To EBITDA
16.715.3-238.113.0-5,995.1190.616.410.513.6
Profitability Ratios
Profitability Ratios
GPM
GPM%
99.399.599.599.599.699.599.599.599.5
OPM
OPM%
11.512.8-0.711.3-0.12.111.923.722.4
NPM
NPM%
8.99.70.6-0.7-39.7-23.8-0.611.99.0
ROCE
ROCE%
40.137.24.05.7-12.3-12.37.322.916.6
ROE
ROE%
44.031.72.3-4.0-5,531.0102.84.9409.377.5
ROA
ROA%
10.910.60.6-0.6-13.5-13.4-0.59.96.3
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Executive Summary** Interglobe Aviation Ltd, operating as **IndiGo**, is India’s largest airline and one of the world’s fastest-growing carriers. With a strong foundation in the low-cost carrier (LCC) model, the airline has evolved into a global aviation player, actively expanding into international long-haul markets, enhancing digital capabilities, and investing in infrastructure, innovation, and sustainability. As of **November 2025**, IndiGo is executing a strategic shift toward becoming a global aviation hub connector, supported by fleet modernization, digital transformation, and aggressive network expansion—domestically and internationally. --- ### **Key Highlights (Recent Developments: May–Oct 2025)** #### **1. International Expansion & Long-Haul Foray** - **Europe Launches:** IndiGo commenced **direct operations to Manchester and Amsterdam** in July 2025, marking its historic entry into the UK and Europe. Services to **Copenhagen, London (Heathrow), and Athens** are scheduled to follow. - **Fleet Strategy:** To bridge the gap ahead of **A350-900** deliveries (starting CY2027), IndiGo entered a **damp-lease agreement with Norse Atlantic** for **six Boeing 787-9** widebody aircraft. One is already operational on the Mumbai–Amsterdam and Delhi–Bangkok routes. - **Future Growth:** Orders for **Airbus A350-900 (60 firm + optional)** and **A321XLR** aircraft will support long-haul expansion to the Americas, Africa, and deeper into Europe by 2030. #### **2. Premium Product & Customer Experience** - **IndiGoStretch:** A **premium economy/business class product** launched in phases since March 2025. It debuted on the Delhi–Bangkok route and is now being rolled out on key international and metro domestic routes (Delhi-Mumbai, Delhi-Bengaluru, etc.). Features include wider seats, enhanced legroom, priority boarding, and premium meals. - **Customer Feedback:** Strong demand and positive feedback have validated the product, supporting expansion plans. #### **3. Digital & Technological Transformation** - **Relaunched Platform:** IndiGo updated its website and mobile app with modern architecture, improved UX, and expanded services including **hotel bookings**, aligning with a broader travel ecosystem approach. - **AI Innovation:** Launched **6Eskai**, an **AI-powered GPT-4 chatbot** available in 11 languages, to streamline customer service and bookings. - **NDC Distribution:** Partnered with **Amadeus** to distribute rich content via New Distribution Capability (NDC), enhancing offerings for travel agents and corporate clients. #### **4. Strategic Alliances & Connectivity** - **Codeshare Agreements:** Expanded partnerships with **Delta Air Lines, Virgin Atlantic, Air France-KLM, Japan Airlines, Qantas, Jetstar, and Turkish Airlines**. - Enables connectivity to **over 50 additional global destinations** including major U.S., European, and Australian cities. - Reciprocal agreement with **KLM** offers access to 30 European destinations via Amsterdam. - **Global Stature:** Successfully hosted the **81st IATA Annual General Meeting in New Delhi (July 2025)**—a testament to its rising influence in global aviation. #### **5. Fleet & Capacity Scale** - **Current Fleet:** Over **434 aircraft** (as of July 2025), primarily Airbus A320neo family (A320neo, A321neo), supported by damp-leased 787s. - **Largest Order Book Globally:** A combined firm order of **~900 aircraft**, including: - **A321XLR** (mid-2025 deliveries) - **A350-900** (widebody, deliveries from 2027) - The airline is adding **over one new aircraft per week** and aims for a fleet of **600+ by 2030**. #### **6. Domestic Dominance & New Connectivity** - **Domestic Network:** Operates to **91 domestic destinations**, including recent additions like **Hindon (Ghaziabad), Adampur (Jalandhar)**, and upcoming access to **Jewar and Navi Mumbai airports** as the launch carrier. - **Market Share:** Holds **~62% domestic market share** (FY2025), the highest in India. - **Route Expansion:** Added **10 new international** and **4 new domestic destinations** in FY2025. - **Daily Operations:** Over **2,200 flights daily**, connecting **600+ direct city pairs**. #### **7. Cargo & Ancillary Revenue Growth** - **CarGo Business:** Carried **~400,000 tonnes of cargo in FY2025**, with a **36% YoY increase in international tonnage**. - **Widebody Advantage:** 787-9 aircraft can carry **8–10 tonnes of cargo per flight**, unlocking high-margin opportunities on international routes. - Strategic expansion into **European cargo corridors** positions IndiGo to capture underdeveloped Indian carrier share in global air freight. #### **8. Innovation & Strategic Initiatives** - **IndiGo Ventures:** Launched in August 2024, the airline’s **venture capital arm** raised an initial **INR 450 crores** and invested in **Jeh Aerospace** (high-precision aerospace manufacturing). - Plans to allocate **Rs. 3,000 crores** total to back startups in aviation tech, sustainability, and digital travel. - **MRO Development:** Signed an MoU with **Bengaluru International Airport Limited (BIAL)** to establish a **state-of-the-art MRO facility**, reducing turnaround time and operating costs. - **Engineering Hubs:** Already operates maintenance facilities in **Delhi and Bengaluru**, capable of heavy checks and engine replacements. #### **9. Loyalty & Brand Engagement** - **BluChip Loyalty Program:** Enrolled **3.8 million members** (up from 2.9M in May 2025), offering lifetime validity, easy redemption, and one of the **highest reward rates** in India. - **Partnerships:** Collaborations with **Accor, Swiggy**, and **Kotak Mahindra Bank** (co-branded credit card) enhance lifestyle value and data-driven engagement. #### **10. Operational Excellence** - **On-Time Performance (OTP):** Ranked #1 in India since November 2024, consistently above **81%** (DGCA metro categories). - **Technical Reliability:** Among the highest **dispatch reliability rates globally**. - **Flight Cancellations:** Only **1.03%**, reflecting efficient operations despite high volume. - **Fleet Age:** Maintains the **world’s youngest fleet among carriers with >100 aircraft** (average age: **~4.4 years**). --- ### **Strategic Vision & Roadmap (2025–2030)** | **Strategic Goal** | **Key Initiatives** | |--------------------|----------------------| | **Becoming a Global Aviation Hub** | Leveraging fleet expansion (A350, XLR), international alliances, and MRO investments to connect India globally. | | **Doubling Scale by 2030** | Targeting 600+ aircraft, 2x passenger volume, and expansion into Americas, Africa, and Oceania. | | **International Capacity Growth** | Increase international ASK share from **28% (FY2025)** to **40% by FY2030**. | | **Digital Ecosystem Development** | Expanding beyond air travel to include hotels, fintech, and personalized travel services via direct bookings. | | **Sustainable Operations** | Phasing out single-use plastics, water-saving tech, and waste-to-compost projects (e.g., Indore Airport). | --- ### **Financial & Market Position (FY2025 Highlights)** - **Passenger Traffic:** Served **over 118 million passengers** in FY2025. - **Cargo:** CarGo contributed significant ancillary revenue with strong YoY growth. - **Market Recognition:** Named **“Airline of the Year” (Air Transport Awards)** and **“Best Low-Cost Airline in India & South Asia” (Skytrax)** in 2024. - **Customer Satisfaction:** Highest **Net Promoter Score (NPS)** among Indian carriers, driven by reliability and service quality.