InterGlobe Aviation Ltd (IN:INDIGO)
:INDIGO
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InterGlobe Aviation Ltd
(INDIGO)
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Rating:55Neutral
Price Target:
₹4,202.00
▲(2.50% Upside)
Action:ReiteratedDate:12/09/25
InterGlobe Aviation Ltd's overall stock score is primarily influenced by its solid financial performance, despite high leverage concerns. The bearish technical indicators and high valuation further weigh down the score, suggesting caution for potential investors.
Positive Factors
Low-cost model & market scale
IndiGo's low-cost, high-frequency point-to-point model and large scale in India provide durable competitive advantages: pricing flexibility, dense route economics, and strong ancillary opportunities. Over months this supports resilient demand capture, market-share retention and revenue stability against peers.
Negative Factors
High leverage
Elevated debt-to-equity raises refinancing and interest-rate risk and limits strategic flexibility. High leverage can force tighter cash allocation between debt service and capex, increasing vulnerability in downturns and making medium-term growth and margin improvements contingent on credible deleveraging.
Read all positive and negative factors
Positive Factors
Negative Factors
Low-cost model & market scale
IndiGo's low-cost, high-frequency point-to-point model and large scale in India provide durable competitive advantages: pricing flexibility, dense route economics, and strong ancillary opportunities. Over months this supports resilient demand capture, market-share retention and revenue stability against peers.
Read all positive factors
InterGlobe Aviation Ltd (INDIGO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.58T
Dividend Yield0.2%
Average Volume (3M)12.83K
Price to Earnings (P/E)89.0
Beta (1Y)1.36
Revenue Growth12.86%
EPS Growth-23.06%
CountryIN
Employees36,860
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)54.10
Shares Outstanding386,613,000
10 Day Avg. Volume9,877
30 Day Avg. Volume12,830
Financial Highlights & Ratios
PEG Ratio-2.37
Price to Book (P/B)20.76
Price to Sales (P/S)2.42
P/FCF Ratio8.95
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹4,630.00Price Target Upside12.94% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)103.29
Revenue Forecast (FY)₹862.95B
InterGlobe Aviation Ltd Business Overview & Revenue Model
Company Description
InterGlobe Aviation Limited provides air transportation services in India and internationally. The company primarily operates IndiGo passenger airline. It also offers ancillary products and services comprising cargo, service requests, ticket modif...
How the Company Makes Money
InterGlobe Aviation Ltd. (IndiGo) generates revenue primarily by selling air transportation to passengers. Its revenue model is centered on high-volume, low-cost operations, with earnings coming from multiple streams: (1) Passenger ticket revenue:...
InterGlobe Aviation Ltd Financial Statement Overview
Summary
Income Statement
75
Positive
Balance Sheet
60
Neutral
Cash Flow
80
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 817.28B | 804.96B | 673.87B | 536.08B | 256.72B | 145.42B |
| Gross Profit | 179.19B | 151.55B | 126.12B | 62.69B | -23.06B | -41.82B |
| EBITDA | 217.89B | 204.48B | 180.41B | 75.25B | 9.51B | 6.09B |
| Net Income | 67.06B | 72.58B | 81.72B | -3.06B | -61.62B | -58.06B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 1.16T | 822.25B | 591.70B | 459.63B | 430.51B |
| Cash, Cash Equivalents and Short-Term Investments | 333.07B | 333.07B | 212.23B | 141.80B | 79.46B | 91.28B |
| Total Debt | 0.00 | 668.10B | 512.80B | 448.54B | 368.78B | 298.60B |
| Total Liabilities | -93.68B | 1.06T | 802.28B | 654.16B | 519.51B | 429.40B |
| Stockholders Equity | 93.68B | 93.68B | 19.96B | -62.47B | -59.88B | 1.11B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 217.37B | 201.15B | 121.58B | 17.44B | -20.51B |
| Operating Cash Flow | 0.00 | 241.51B | 212.18B | 127.28B | 20.91B | -16.14B |
| Investing Cash Flow | 0.00 | -127.59B | -118.09B | -40.59B | 15.02B | 31.97B |
| Financing Cash Flow | 0.00 | -110.15B | -99.79B | -84.32B | -30.88B | -17.75B |
InterGlobe Aviation Ltd Technical Analysis
Negative
4099.70
Price Trends
4646.71
Negative
5007.86
Negative
5382.60
Negative
Market Momentum
-169.48
Negative
39.42
Neutral
54.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDIGO, the sentiment is Negative. The current price of 4099.7 is below the 20-day moving average (MA) of 4331.66, below the 50-day MA of 4646.71, and below the 200-day MA of 5382.60, indicating a bearish trend. The MACD of -169.48 indicates Negative momentum. The RSI at 39.42 is Neutral, neither overbought nor oversold. The STOCH value of 54.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:INDIGO.
InterGlobe Aviation Ltd Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹408.48B | 34.72 | ― | 1.32% | 7.66% | 14.36% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | ₹44.17B | 41.31 | ― | 0.32% | 11.02% | -9.59% | |
57 Neutral | ₹320.82B | 190.69 | ― | ― | 9.17% | 1685.95% | |
56 Neutral | ₹940.80B | 226.14 | ― | ― | 29.47% | 83.38% | |
55 Neutral | ₹1.58T | 88.95 | ― | 0.20% | 12.86% | -23.06% | |
39 Underperform | ₹15.64B | -4.18 | ― | ― | -26.46% | 46.14% |
* Industrials Sector Average
IN:INDIGO
InterGlobe Aviation Ltd
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-918.86
-18.31%
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InterGlobe Aviation Ltd Corporate Events
InterGlobe Aviation to contest CGST tax order seen as legally unsound
Mar 26, 2026
InterGlobe Aviation has disclosed that it received an order from the Additional Commissioner, CGST Gurugram, raising a goods and services tax demand with interest and penalty for FY 2019–20 to FY 2024–25 on services the airline says we...
IndiGo Cautiously Restores Middle East Schedule Amid Regional Risks
Mar 14, 2026
InterGlobe Aviation’s IndiGo unit is realigning its Middle East network in response to evolving regional conditions, while largely restoring regular services across major markets. The carrier plans to run 252 weekly flights to and from the M...
IndiGo Adds Fuel Surcharge as Jet Fuel Costs Surge
Mar 13, 2026
IndiGo will introduce a new fuel charge on all domestic and international routes starting 14 March 2026, in response to an 85% plus surge in jet fuel prices linked to geopolitical tensions in the Middle East. The surcharge, which ranges from ͅ...
IndiGo Cancels Over 500 Flights Amid Middle East Airspace Restrictions
Mar 4, 2026
InterGlobe Aviation Ltd has announced that, due to evolving airspace restrictions over Iran and the broader Middle East, it has cancelled more than 500 flights to the Middle East and certain other international destinations between February 28 and...
InterGlobe Aviation Allots New Shares on ESOP Exercise, Expands Equity Base Marginally
Feb 6, 2026
InterGlobe Aviation has approved the allotment of equity shares following the exercise of vested employee stock options under its 2015 and 2023 ESOP schemes, as cleared by its ESOP Allotment Committee on 6 February 2026. In this tranche, 21,200 eq...
InterGlobe Aviation Posts Q3 FY26 Earnings Call Audio for Investors
Jan 22, 2026
InterGlobe Aviation has notified stock exchanges that the audio recording of its January 22, 2026 earnings call with investors and analysts, held after the release of financial results for the quarter and nine months ended December 31, 2025, has b...
DGCA Slaps IndiGo with Penalties and Governance Actions After December Disruptions
Jan 18, 2026
India’s largest airline operator, InterGlobe Aviation’s IndiGo, has disclosed that the Directorate General of Civil Aviation has issued eight orders against the carrier following an inquiry into severe operational disruptions between 3...
IndiGo Board Vows Corrective Steps After December Flight Disruption, Reviews Internal Processes
Jan 17, 2026
InterGlobe Aviation’s board and management have acknowledged orders issued by India’s Directorate General of Civil Aviation (DGCA) following a major operational disruption to IndiGo’s flights in early December 2025, and have pled...
InterGlobe Aviation Allots Shares Under 2023 ESOP Scheme
Jan 5, 2026
InterGlobe Aviation’s ESOP Allotment Committee has approved the allotment of 500 equity shares following the exercise of vested stock options under the InterGlobe Aviation Limited Employee Stock Option Scheme 2023. The new shares, issued at ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.