SpiceJet Limited (SPICEJET) AI Stock Analysis

• Market Cap: ₹15.69B
• Dividend Yield: N/A
• Average Volume (3M): 12.45M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.28
• Revenue Growth: -26.46%
• EPS Growth: 46.14%
• Country: IN
• Employees: 7,131
• Sector: Services
• Sector Strength: N/A
• Industry: Airlines, Airports & Air Services
• EPS (TTM): -1.90
• Shares Outstanding: 1,526,099,500
• 10 Day Avg. Volume: 18,854,900
• 30 Day Avg. Volume: 12,451,830
• PEG Ratio: -0.69
• Price to Book (P/B): -2.45
• Price to Sales (P/S): 0.94
• P/FCF Ratio: -2.68
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -10.33
• Revenue Forecast (FY): ₹70.18B

• Rating: 39 Underperform
• Price Target: ₹10.50 ▼(-64.38% Downside)
• Action: Downgraded Date: 03/24/26
• Date: Action: Downgraded 03/24/26

The score is held down primarily by very weak financial performance (losses, negative equity, and cash flow strain). Technical indicators also remain bearish with the price far below key moving averages, despite oversold readings. Valuation provides only limited support because a negative P/E reflects ongoing losses and no dividend yield is available.

Positive Factors

Low-cost carrier business model

Operating as a low-cost carrier gives SpiceJet a durable structural positioning to capture price-sensitive demand in India. A focused LCC model supports high aircraft utilization and simplified product offerings, enabling revenue resilience through frequent, repeat travel demand.

Negative Factors

Negative stockholders' equity / high leverage

Negative equity and heavy leverage indicate liabilities exceed assets, which materially constrains financial flexibility. Over the coming months this elevates refinancing and solvency risk, limits strategic investments, and increases vulnerability to demand or cost shocks.

SpiceJet Limited Business Overview & Revenue Model

Company Description

SpiceJet Limited provides air transportation services. It operates through Air Transport, and Freighter and Logistics Services segments. The company offers passengers and cargo air transportation services under the SpiceJet brand name. It operates...

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SpiceJet Limited provides air transportation services. It operates through Air Transport, and Freighter and Logistics Services segments. The company offers passengers and cargo air transportation services under the SpiceJet brand name. It operates...

How the Company Makes Money

SpiceJet primarily makes money by selling air travel to passengers. Its main revenue stream is passenger ticket (fare) revenue from scheduled flights, where pricing varies by route, demand, seasonality, and booking time. In addition to base fares,...

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SpiceJet primarily makes money by selling air travel to passengers. Its main revenue stream is passenger ticket (fare) revenue from scheduled flights, where pricing varies by route, demand, seasonality, and booking time. In addition to base fares,...

SpiceJet Limited Financial Statement Overview

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2022	Mar 2021	Mar 2021
Income Statement
Total Revenue	33.09B	50.74B	67.77B	88.65B	66.04B	49.87B
Gross Profit	-2.79B	-2.38B	-3.88B	-5.07B	-15.15B	-12.60B
EBITDA	1.86B	10.01B	8.12B	-921.10M	510.44M	10.23B
Net Income	-3.50B	627.68M	-4.23B	-15.13B	-17.44B	-10.30B
Balance Sheet
Total Assets	0.00	65.94B	64.72B	77.71B	95.55B	113.52B
Cash, Cash Equivalents and Short-Term Investments	3.94B	8.01B	2.15B	359.74M	631.14M	359.40M
Total Debt	0.00	42.19B	53.79B	73.49B	83.32B	95.18B
Total Liabilities	19.44B	85.39B	116.91B	136.21B	138.95B	139.56B
Stockholders Equity	-19.44B	-19.42B	-52.17B	-58.50B	-43.40B	-26.04B
Cash Flow
Free Cash Flow	0.00	-17.70B	-6.54B	403.65M	9.67B	1.51B
Operating Cash Flow	0.00	-16.89B	-5.96B	627.95M	10.04B	2.28B
Investing Cash Flow	0.00	-6.43B	234.58M	5.12B	-1.49B	2.12B
Financing Cash Flow	0.00	21.68B	8.26B	-6.10B	-8.78B	-4.37B

SpiceJet Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 29.48
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SPICEJET, the sentiment is Negative. The current price of 29.48 is above the 20-day moving average (MA) of 12.47, above the 50-day MA of 17.09, and below the 200-day MA of 30.18, indicating a bearish trend. The MACD of -2.07 indicates Negative momentum. The RSI at 25.26 is Positive, neither overbought nor oversold. The STOCH value of 8.91 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SPICEJET.

SpiceJet Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EASEMYTRIP	66 Neutral	₹23.68B	91.75	―	―	-16.06%	-79.12%
WELENT	63 Neutral	₹60.89B	74.06	―	0.58%	9.11%	16.30%
YATRA	62 Neutral	₹15.47B	81.87	―	―	82.79%	208.75%
THOMASCOOK	59 Neutral	₹45.12B	41.31	―	0.32%	11.02%	-9.59%
MHRIL	56 Neutral	₹49.84B	702.73	―	―	4.25%	17.51%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
SPICEJET	39 Underperform	₹15.69B	-4.18	―	―	-26.46%	46.14%