InterGlobe Aviation Ltd (IN:INDIGO)
:INDIGO
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InterGlobe Aviation Ltd
(INDIGO)
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Rating:53Neutral
Price Target:
₹4,951.00
▲(6.73% Upside)
Action:Reiterated
Date:05/31/26
The score is anchored by improving operations and strong, consistent cash generation, but is held back materially by balance-sheet leverage and the latest year’s net loss. Technicals are neutral-to-weak versus longer-term moving averages, and valuation is expensive with minimal dividend support.
Positive Factors
Cash generation
Consistent, sizable operating and free cash flow provides durable liquidity to fund fleet maintenance, working capital and targeted route expansion without immediate reliance on equity. Positive FCF even in a loss year supports operational continuity and reduces short-term refinancing pressure.
Negative Factors
High leverage
Very elevated leverage materially limits financial flexibility, raises refinancing and interest-rate exposure, and constrains the company’s ability to absorb demand shocks. In a capital-intensive airline industry, high debt increases probability of costly covenant or refinancing events over medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Consistent, sizable operating and free cash flow provides durable liquidity to fund fleet maintenance, working capital and targeted route expansion without immediate reliance on equity. Positive FCF even in a loss year supports operational continuity and reduces short-term refinancing pressure.
Read all positive factors
InterGlobe Aviation Ltd (INDIGO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.87T
Dividend Yield0.2%
Average Volume (3M)12.83K
Price to Earnings (P/E)―
Beta (1Y)1.36
Revenue Growth5.15%
EPS Growth-132.93%
CountryIN
Employees36,860
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)173.52
Shares Outstanding386,657,500
10 Day Avg. Volume9,877
30 Day Avg. Volume12,830
Financial Highlights & Ratios
PEG Ratio0.48
Price to Book (P/B)21.87
Price to Sales (P/S)1.79
P/FCF Ratio6.76
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹4,978.50Price Target Upside7.32% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)109.15
Revenue Forecast (FY)₹993.23B
InterGlobe Aviation Ltd Business Overview & Revenue Model
Company Description
Operating both within India and across international routes, InterGlobe Aviation Limited delivers comprehensive air transportation services. Its core business revolves around the popular IndiGo passenger airline. Complementing its flight operation...
How the Company Makes Money
InterGlobe Aviation Ltd. makes money primarily by selling air transportation services under the IndiGo brand. The company’s core revenue stream is passenger ticket revenue from scheduled flights across its domestic and international network, with ...
InterGlobe Aviation Ltd Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
38
Negative
Cash Flow
78
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 817.28B | 849.62B | 804.96B | 673.87B | 536.08B | 256.72B |
| Gross Profit | 179.19B | 184.52B | 151.55B | 126.12B | 62.69B | -23.06B |
| EBITDA | 217.89B | 147.38B | 204.48B | 180.41B | 75.25B | 9.51B |
| Net Income | 67.06B | -23.92B | 72.58B | 81.72B | -3.06B | -61.62B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 1.36T | 1.16T | 822.25B | 591.70B | 459.63B |
| Cash, Cash Equivalents and Short-Term Investments | 333.07B | 497.43B | 333.07B | 212.23B | 141.80B | 79.46B |
| Total Debt | 0.00 | 777.49B | 668.10B | 512.80B | 448.54B | 368.78B |
| Total Liabilities | -93.68B | 1.29T | 1.06T | 802.28B | 654.16B | 519.51B |
| Stockholders Equity | 93.68B | 69.71B | 93.68B | 19.96B | -62.47B | -59.88B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 225.36B | 217.37B | 201.15B | 121.58B | 17.44B |
| Operating Cash Flow | 0.00 | 248.08B | 241.51B | 212.18B | 127.28B | 20.91B |
| Investing Cash Flow | 0.00 | -32.87B | -127.59B | -118.09B | -40.59B | 15.02B |
| Financing Cash Flow | 0.00 | -212.79B | -110.15B | -99.79B | -84.32B | -30.88B |
InterGlobe Aviation Ltd Technical Analysis
Positive
4638.75
Price Trends
4477.11
Positive
4542.79
Positive
5035.13
Negative
Market Momentum
102.06
Negative
66.79
Neutral
87.05
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDIGO, the sentiment is Positive. The current price of 4638.75 is above the 20-day moving average (MA) of 4535.10, above the 50-day MA of 4477.11, and below the 200-day MA of 5035.13, indicating a neutral trend. The MACD of 102.06 indicates Negative momentum. The RSI at 66.79 is Neutral, neither overbought nor oversold. The STOCH value of 87.05 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | ₹3.93B | 33.33 | ― | 1.80% | -48.87% | -82.41% | |
55 Neutral | ₹1.13T | -632.47 | ― | ― | 42.18% | ― | |
53 Neutral | ₹1.87T | -78.83 | ― | 0.20% | 5.15% | -132.93% | |
41 Neutral | ₹2.28B | -6.97 | ― | ― | -3.83% | -4866.02% | |
39 Underperform | ₹19.78B | -2.42 | ― | ― | -14.50% | -239.75% |
* Industrials Sector Average
IN:INDIGO
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InterGlobe Aviation Ltd Corporate Events
InterGlobe Aviation shares investor presentation for 2026 Analysts Meet
Jun 8, 2026
InterGlobe Aviation has released an investor presentation ahead of its 2026 Analysts Meet, providing updated information to market participants about its business and performance. The presentation has been filed with Indian stock exchanges and mad...
IndiGo to Halt Manchester Flights Amid Cost Pressures, Return One Dreamliner Lease
Jun 2, 2026
InterGlobe Aviation’s IndiGo unit will temporarily discontinue flights to and from Manchester from 31 August 2026, citing extended flight times due to international airspace constraints and a sharply unfavorable cost environment. As part of ...
IndiGo Discloses DGCA Warning Over Fare Cap Compliance, Says Financial Impact Limited
Apr 23, 2026
InterGlobe Aviation has disclosed that it received a warning letter from the Directorate General of Civil Aviation regarding certain airfares offered in December 2025 while temporary government-imposed domestic fare caps were in force. The regulat...
InterGlobe Aviation Allots New Shares on ESOP Exercise
Apr 8, 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. In this tranche, the company issued 34,000 equity shares with a par value of Rs. 10 at an...
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...
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.