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InterGlobe Aviation Ltd
(INDIGO)
InterGlobe Aviation Ltd (INDIGO) vs. iShares MSCI India ETF (INDA)
InterGlobe Aviation Ltd Business Overview & Revenue Model
InterGlobe Aviation Ltd Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 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
InterGlobe Aviation Ltd Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹502.24B | 36.61 | ― | 1.32% | 7.66% | 14.36% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | ₹64.21B | 25.16 | ― | 0.32% | 11.02% | -9.59% | |
57 Neutral | ₹300.40B | 216.40 | ― | ― | 9.17% | 1685.95% | |
56 Neutral | ₹1.06T | -481.00 | ― | ― | 29.47% | 83.38% | |
55 Neutral | ₹1.83T | 35.82 | ― | 0.20% | 12.86% | -23.06% | |
41 Neutral | ₹37.90B | -8.22 | ― | ― | -26.46% | 46.14% |
InterGlobe Aviation Ltd Corporate Events
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 a par value and exercise price of Rs 10 each on 5 January 2026, increase the company’s total issued share capital to Rs 386.59 crore, resulting in a marginal dilution that nonetheless signals ongoing use of equity-based incentives to align employees’ interests with those of shareholders.
IndiGo has confirmed that its operations have been fully stabilized since 9 December 2025 and that it is now operating 2,100–2,200 flights while carrying over 1 million passengers every three days across all 138 destinations, positioning the airline to handle the expected surge in holiday-season demand. Despite recent industry-wide disruptions from dense fog in northern India, the airline maintains it has effectively managed the impact to preserve operational stability and is preparing for a harsher winter while minimizing customer inconvenience. Looking ahead, IndiGo plans to enhance its medium-to-long haul offering with the introduction of India’s first Airbus A321XLR, starting flights from Delhi and Mumbai to Athens from 23 January 2026 and evaluating further domestic and international expansion in line with its growing fleet, underscoring its ambition to deepen its global network footprint.
InterGlobe Aviation Ltd has made a general update announcement to the National Stock Exchange of India and BSE Limited, as per SEBI Regulations. The update was shared via a post on the company’s official social media handle, indicating a strategic communication approach to keep stakeholders informed, though specific details of the update were not disclosed in the release.
IndiGo has announced an update to its guidance for the third quarter of the fiscal year 2025-26 due to recent operational disruptions. The airline experienced significant disruptions in early December, leading to the cancellation of approximately 4,500 flights, resulting in revenue loss and additional expenses for passenger support services. Following a directive from the DGCA to reduce its domestic winter schedule by 10%, IndiGo anticipates a downward adjustment in its capacity and revenue guidance for the quarter. The airline remains committed to customer service and compliance with safety regulations.
InterGlobe Aviation Ltd has announced a directive from the Directorate General of Civil Aviation (DGCA) to reduce its domestic winter schedule for 2025 by 10% across all sectors. This adjustment may impact the company’s operational capacity and could have implications for its market positioning and stakeholder interests.
InterGlobe Aviation Ltd has been placed on ‘Rating Watch with Developing Implications’ by CRISIL Ratings due to recent disruptions in flight schedules caused by operational challenges, including the implementation of new Flight Duty Time Limitation norms. These disruptions could potentially impact IndiGo’s operational and financial performance, prompting an inquiry by the Government of India. Despite these challenges, IndiGo’s financial risk profile remains robust, supported by a healthy net debt to EBITDAR ratio and substantial liquidity. The company’s established market position and financial flexibility are key strengths, although it remains susceptible to industry volatility and competitive pressures.
InterGlobe Aviation Limited, operating as IndiGo, has announced the formation of a Crisis Management Group (CMG) in response to recent flight cancellations and delays. The CMG, which includes key board members and executives, is actively working to address customer hardships and restore operational integrity. The airline is committed to providing refunds and waivers during this crisis period, emphasizing its dedication to customer service and operational excellence.
IndiGo has announced significant improvements in its operational performance following recent disruptions. The airline has increased its flight operations to over 1650 flights with a notable improvement in on-time performance from 30% to 75%. IndiGo is focused on restoring its flight schedules and enhancing customer support systems, with a growing confidence in stabilizing its network by December 10. The company expresses gratitude to its customers and employees for their patience and efforts during this period.
IndiGo has announced a significant recovery in its operations following recent disruptions that led to the cancellation of numerous flights. The airline has successfully increased its daily flights to over 1500, re-establishing 95% of its network connectivity by operating in 135 out of 138 destinations. IndiGo is committed to restoring customer trust and appreciates the support from partners, government agencies, customers, and staff during this challenging period.
IndiGo has faced significant operational disruptions, leading to over 1,000 flight cancellations on December 5, 2025, which is more than half of its daily flights. The company is implementing a reboot of its systems and schedules to address the crisis, with expectations to reduce cancellations and progressively improve operations, aiming for full restoration by mid-December. IndiGo is actively communicating with customers and enhancing support measures to mitigate the impact of these disruptions.
InterGlobe Aviation Limited has announced the allotment of equity shares following the exercise of vested stock options under its Employee Stock Option Scheme 2023. This move reflects the company’s commitment to employee engagement and retention, potentially enhancing its operational efficiency and market competitiveness.
IndiGo has faced significant operational disruptions due to unforeseen challenges such as technology glitches, weather conditions, and updated crew rostering rules. To address these issues, the airline has implemented schedule adjustments to stabilize operations and improve punctuality. Affected customers are being offered alternative travel arrangements or refunds, and IndiGo is committed to minimizing disruption and supporting its customers during this period.
InterGlobe Aviation Ltd has been issued a penalty of INR 117.52 crore by the Joint Commissioner of Central Tax and Central Excise, CGST Kochi Commissionerate, for allegedly availing input tax credit (ITC) incorrectly from FY 2018-19 to 2021-22. The company disputes the order, asserting it is erroneous and plans to contest it, supported by external tax advisors. Despite the penalty, InterGlobe Aviation states that there is no significant impact on its financials, operations, or other activities.
InterGlobe Aviation Limited has announced a substantial investment of USD 820 million into its wholly-owned subsidiary, InterGlobe Aviation Financial Services IFSC Private Limited, to facilitate the acquisition of aviation assets. This strategic move is aimed at enhancing IndiGo’s asset ownership, particularly aircraft, which could strengthen its market position and operational capabilities. The investment will be executed in multiple tranches during the fiscal year 2025-26, reflecting the company’s commitment to expanding its asset base and potentially improving its competitive edge in the aviation industry.
InterGlobe Aviation Limited has announced an investment of USD 820 million in its wholly owned subsidiary, InterGlobe Aviation Financial Services IFSC Private Limited. This investment, to be made in multiple tranches during FY 2025-26, aims to facilitate the acquisition of aviation assets, enhancing the company’s capability to own aircraft and potentially strengthening its market position.
IndiGo has confirmed its order with Airbus for 30 additional A350-900 aircraft, doubling its wide-body fleet order to 60 planes. This strategic move aligns with IndiGo’s ambition to expand its international footprint and support India’s vision of becoming a global aviation hub by 2030, enhancing its long-haul operations and connectivity.