Interglobe Aviation Ltd (Indigo) is India’s largest passenger airline operating as a low-cost carrier. Serving 86 destinations including 24 international destinations, it provides passengers with a simple, unbundled product, fulfilling its singular brand promise of providing “low fares, on-time flights, and a courteous and hassle-free service” to its customers. IndiGo commenced operations in August 2006 with a single aircraft and has grown its fleet to 262 aircrafts. [1]
Prices delayed · Fundamentals as reported · checked 30 Oct, 9:31 am ISTData as published. No model runs on this page.
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Automated flags from the reported numbers. Context, not a call.
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 14,944 | 19,452 | 17,825 | 19,571 | 16,970 | 22,111 | 22,152 | 20,496 | 18,555 | 23,472 | 22,438 |
Generated on demand from the fundamentals above plus a live web scan. Takes one to two minutes.
The business narrative, written down and turned into explicit assumptions.
A valuation from those assumptions, under bull, base and bear cases.
Where today's price sits relative to that range.
| 24,584 |
| 23,364 |
| Expenses + | 12,744 | 14,303 | 13,832 | 14,412 | 15,338 | 16,932 | 16,062 | 15,270 | 17,976 | 18,104 | 21,628 | 21,317 | 21,456 |
| Operating Profit | 2,200 | 5,149 | 3,994 | 5,159 | 1,631 | 5,179 | 6,089 | 5,226 | 580 | 5,367 | 810 | 3,267 | 1,907 |
| OPM % | 15% | 26% | 22% | 26% | 10% | 23% | 27% | 26% | 3.1% | 23% | 3.6% | 13% | 8% |
| Other Income + | 559 | 610 | 680 | 678 | 789 | 882 | 946 | 1,046 | 1,044 | -478 | 1,142 | 1,030 | 948 |
| Interest | 1,021 | 1,095 | 1,099 | 1,158 | 1,240 | 1,308 | 1,374 | 1,396 | 1,465 | 1,545 | 1,485 | 1,565 | 1,658 |
| Depreciation | 1,549 | 1,666 | 1,803 | 1,876 | 2,088 | 2,226 | 2,491 | 2,566 | 2,640 | 2,782 | 2,820 | 2,970 | 3,074 |
| Profit before tax | 189 | 2,998 | 1,771 | 2,804 | -907 | 2,527 | 3,169 | 2,311 | -2,482 | 562 | -2,352 | -238 | -1,876 |
| Tax % | 0% | 0% | -7% | 3% | 9% | 3% | 3% | 6% | 4% | 2% | 8% | -0% | 0% |
| Net Profit + | 189 | 2,998 | 1,895 | 2,729 | -987 | 2,449 | 3,068 | 2,176 | -2,582 | 549 | -2,537 | -238 | -1,879 |
| EPS in Rs | 4.90 | 77.68 | 49.09 | 70.70 | -25.54 | 63.38 | 79.38 | 56.31 | -66.79 | 14.22 | -65.60 | -6.14 | -48.58 |
| Raw PDF |
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 18,580 | 23,021 | 28,497 | 35,756 | 14,641 | 25,931 | 54,446 | 68,904 | 80,803 | 84,962 | 93,858 |
| Expenses + | 16,362 | 19,991 | 28,646 | 31,666 | 14,626 | 25,356 | 47,915 | 52,548 | 62,701 | 72,925 | 82,506 |
| Operating Profit | 2,219 | 3,030 | -149 | 4,090 | 14 | 575 | 6,531 | 16,356 | 18,102 | 12,037 | 11,352 |
| OPM % | 12% | 13% | -0.5% | 11% | 0.1% | 2.2% | 12% | 24% | 22% | 14% | 12% |
| Other Income + | 789 | 947 | 1,325 | 1,531 | 1,037 | 726 | 1,435 | 2,327 | 3,295 | 2,755 | 2,643 |
| Interest | 406 | 413 | 563 | 1,902 | 2,170 | 2,386 | 3,168 | 4,208 | 5,124 | 5,944 | 6,253 |
| Depreciation | 457 | 437 | 760 | 3,974 | 4,699 | 5,069 | 5,103 | 6,426 | 8,680 | 10,808 | 11,646 |
| Profit before tax | 2,144 | 3,127 | -147 | -256 | -5,818 | -6,154 | -304 | 8,049 | 7,593 | -1,960 | -3,904 |
| Tax % | 23% | 28% | -207% | -9% | -0% | 0% | 0% | -2% | 4% | 22% | |
| Net Profit + | 1,659 | 2,242 | 157 | -234 | -5,806 | -6,162 | -306 | 8,172 | 7,258 | -2,394 | -4,105 |
| EPS in Rs | 45.90 | 58.33 | 4.09 | -6.07 | -150.85 | -159.94 | -7.93 | 211.73 | 187.84 | -61.87 | -106.10 |
| Dividend Payout % | 74% | 10% | 122% | 0% | 0% | 0% | 0% | 0% | 5% | 0% |
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 361 | 384 | 384 | 385 | 385 | 385 | 386 | 386 | 386 | 387 | 387 |
| Reserves | 3,418 | 6,693 | 6,561 |
| 5,493 |
| -274 |
| -6,373 |
| -6,638 |
| 1,610 |
| 8,982 |
| 6,584 |
| 4,609 |
| Borrowings + | 2,596 | 2,254 | 2,429 | 22,719 | 29,860 | 36,878 | 44,860 | 51,280 | 66,810 | 77,749 | 87,303 |
| Other Liabilities + | 8,834 | 11,798 | 15,651 | 13,504 | 13,081 | 15,073 | 20,562 | 28,948 | 39,666 | 51,282 | 55,870 |
| Total Liabilities | 15,210 | 21,129 | 25,026 | 42,101 | 43,051 | 45,963 | 59,170 | 82,224 | 115,844 | 136,002 | 148,169 |
| Fixed Assets + | 3,794 | 4,579 | 5,662 | 16,779 | 18,817 | 21,284 | 27,658 | 36,154 | 51,782 | 63,157 | 72,672 |
| CWIP | 25 | 32 | 24 | 140 | 72 | 125 | 21 | 1 | 3 | 59 | 60 |
| Investments | 3,713 | 6,344 | 6,517 | 9,499 | 7,339 | 8,106 | 11,558 | 16,546 | 26,093 | 27,675 | 26,456 |
| Other Assets + | 7,677 | 10,174 | 12,824 | 15,682 | 16,823 | 16,447 | 19,933 | 29,524 | 37,966 | 45,111 | 48,981 |
| Total Assets | 15,210 | 21,129 | 25,026 | 42,101 | 43,051 | 45,963 | 59,170 | 82,224 | 115,844 | 136,002 | 148,169 |