InterGlobe Aviation (INDIGO)

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InterGlobe Aviation (INDIGO) · mywealthgrid

About

InterGlobe Aviation operates IndiGo, India's dominant low-cost carrier with 60%+ domestic market share and market cap ₹2,05,284.6 Cr. The airline competes in the highly cyclical industrials sector, where margins are vulnerable to fuel costs, load factors, and competition. Recent quarters show stable revenue of ₹22–25k Cr but substantial profit volatility and losses, reflecting sector headwinds.

Founded: 2006
Face value: ₹10

Market cap

₹1,90,590 Cr

P/E

—

P/B

27.3×

Dividend yield

0.2%

ROE

-29.3%

ROCE

6.4%

Debt / equity

0.26

OPM

14.1%

EPS (TTM)

₹-124.3

Book value

₹180.3

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Profit swings sharply: March 2026 loss of ₹2,662.1 Cr (OPM 3.3%) versus December 2025 profit of ₹612.6 Cr (OPM 22.8%) within one year; verify what drives such acute quarterly volatility and whether structural or seasonal.
Negative ROE of -29.28% and net losses in three of four most recent quarters destroy shareholder value; recovery to profitability requires sustained margin improvement.
OPM fluctuates between 3% and 23% across recent quarters; at 3%, margins leave minimal room for fuel inflation or demand shocks — verify if current cost structure can sustain profitability under pressure.
Stock down 9.37% over one year (₹5,310 near 52-week low of ₹3,943.5) with EPS losses and PE n/a; verify if June 2026 loss of ₹238–381 Cr signals continued operational stress.

Generated analysis · source review pending

Growth drivers

Margin recovery to December 2025 levels (22.8% OPM, ₹612.6 Cr profit): verify if the December quarter reflects seasonal strength, one-time benefits, or structural improvements, and whether this margin can recur.
Revenue stability at ₹22–25k Cr per quarter despite losses suggests intact travel demand; verify if planned fleet additions or new routes target growth beyond current capacity.
Balance sheet headroom with D/E of 0.26 is conservative for an airline; verify if management plans debt-funded capex for aircraft purchases or international expansion.
Domestic market concentration at 60%+ share limits growth to market expansion; verify projected domestic air-traffic growth and whether IndiGo's capacity plans align with it.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹4,929.9+1.2%1Y

Quick read

rule-based

Pros

+Strong return on equity of 169.3% (3-yr avg)
+Revenue CAGR of 42.1% over the last 5 years

Cons

−Weak interest coverage of 1×
−Trading at 27.3× book value

Research score

Structured signal from quality, growth, valuation and momentum.

33/100

Business quality: 24
Growth: 49
Valuation: 26

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY 50 NIFTY 100 NIFTY 200 NIFTY 500 NIFTY TOTAL MARKET

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Adani Ports And Special Economic Zone LimitedADANIPORTSADANIPORTS	₹4,00,389 Cr	₹4,55,492 Cr	₹40,430 Cr	₹23,897 Cr	59%	₹11,022 Cr	33%	13.7%	1.2%	13
InterGlobe AviationINDIGOINDIGO	₹1,90,590 Cr	₹1,92,396 Cr	₹89,050 Cr	₹10,024 Cr	14.1%	₹-4,806 Cr	-2.8%	6.4%	-29.3%	-17
Gmr Airports LimitedGMRAIRPORTGMRAIRPORT	₹98,368 Cr	₹1,40,564 Cr	₹15,566 Cr	₹6,039 Cr	38.9%	₹478 Cr	3.2%	10.5%	—	-278
Jsw Infrastructure LimitedJSWINFRAJSWINFRA	₹83,286 Cr	₹89,696 Cr	₹5,582 Cr	₹2,696 Cr	48.6%	₹1,485 Cr	28.9%	13.8%	14.8%	42
Container Corporation Of India LimitedCONCORCONCOR	₹33,663 Cr	₹33,687 Cr	₹9,085 Cr	₹1,962 Cr	21.5%	₹1,242 Cr	13.7%	12.5%	9.8%	10
Redington LimitedREDINGTONREDINGTON	₹31,112 Cr	₹33,749 Cr	₹1,28,133 Cr	₹2,537 Cr	1.9%	₹1,701 Cr	1.1%	21.7%	15.8%	34
Delhivery LimitedDELHIVERYDELHIVERY	₹29,952 Cr	₹29,955 Cr	₹11,145 Cr	₹633 Cr	6.1%	₹94 Cr	1.5%	2.8%	1.6%	7
The Great Eastern Shipping Company LimitedGESHIPGESHIP	₹21,857 Cr	₹22,906 Cr	₹6,213 Cr	₹3,843 Cr	58.2%	₹3,747 Cr	54.4%	18.4%	18.8%	31
Firstsource Solutions LimitedFSLFSL	₹17,453 Cr	₹19,390 Cr	₹10,064 Cr	₹1,660 Cr	16.3%	₹671 Cr	7.1%	19.9%	15.9%	54
Eclerx Services LimitedECLERXECLERX	₹16,965 Cr	₹16,965 Cr	₹4,335 Cr	₹1,096 Cr	25.5%	₹729 Cr	17.2%	34.3%	29%	78
Shadowfax Technologies LimitedSHADOWFAXSHADOWFAX	₹15,982 Cr	₹15,982 Cr	₹4,202 Cr	₹212 Cr	5%	₹112 Cr	2.7%	9.6%	10.4%	10
Central Mine Planning & Design Institute LimitedCMPDICMPDI	₹14,593 Cr	₹14,593 Cr	₹2,317 Cr	₹778 Cr	33.6%	₹613 Cr	26.5%	34.6%	26.9%	-3,226

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	18,581	23,021	28,497	35,756	14,641	25,931	54,446	68,904	80,803	84,962
COGS	124	125	139	178	55	116	286	342	383	495
	16,314	19,939	28,561	31,520	14,599	25,267	47,665	52,245	62,361	72,484
	2,143	2,956	-203	4,059	-14	547	6,495	16,318	18,058	11,983
OPM %	11.5%	12.8%	-0.7%	11.4%	-0.1%	2.1%	11.9%	23.7%	22.4%	14.1%
Depreciation	457	437	760	3,974	4,699	5,069	5,103	6,426	8,680	10,808
Interest	331	340	509	1,876	2,142	2,358	3,132	4,169	5,080	5,891
	789	947	1,325	1,536	1,037	726	1,435	2,327	3,295	2,755
Profit before tax	2,144	3,127	-147	-256	-5,818	-6,154	-304	8,049	7,593	-1,961
Tax	485	884	-305	-22	-12	8	1	-123	335	433
Tax %	22.6%	28.3%	-206.7%	-8.6%	-0.2%	0.1%	0.5%	-1.5%	4.4%	22.1%
	1,659	2,242	157	-234	-5,806	-6,162	-306	8,172	7,258	-2,394
PAT margin %	8.9%	9.7%	0.6%	-0.7%	-39.7%	-23.8%	-0.6%	11.9%	9%	-2.8%
EPS (₹)	45.9	60	4.1	-6.1	-150.9	-160	-7.9	211.8	187.9	-61.9
EPS adjusted (₹)	45.9	58.3	4.1	-6.1	-150.9	159.9	-7.9	211.7	187.9	-61.9
	74%	10%	122.2%	—	—	—	—	0%	5.3%	—
Annual report	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	361	384	384	385	385	385	386	386	386	387
Reserves	3,418	6,693	6,561	5,493	-274	-6,373	-6,632	1,610	8,982	6,585
Minority interest	—	—	—	—	—	—	—	—	—	16
	2,396	2,241	2,194	2,471	2,506	3,897	2,252	1,892	1,800	1,806
	9,035	11,811	15,887	33,753	40,435	48,054	63,164	78,336	1,04,675	1,27,208
Total equity & liabilities	15,210	21,129	25,027	42,101	43,051	45,963	59,170	82,225	1,15,844	1,36,002
	3,794	4,579	5,662	2,533	830	846	27,658	36,154	51,782	63,157
CWIP	23	29	22	129	66	119	0	0	1	39
Investments	3,713	6,344	6,517	9,499	7,339	8,106	11,558	16,546	26,093	27,675
	7,679	10,177	12,826	29,939	34,815	36,891	19,953	29,525	37,968	45,132
Total assets	15,210	21,129	25,027	42,101	43,051	45,963	59,170	82,225	1,15,844	1,36,002

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	-0.7%	11.4%	-0.1%	2.1%	11.9%	23.7%	22.4%	14.1%
EBIT margin %	-3.4%	0.2%	-32.2%	-17.4%	2.6%	14.4%	11.6%	1.4%
PAT margin %	0.6%	-0.7%	-39.7%	-23.8%	-0.6%	11.9%	9%	-2.8%
Working capital
Receivable days	5	3	5	5	3	3	3	3
Inventory days	3	3	8	6	4	4	5	5
Payable days	0	—	1	45	24	22	24	25
NWC days	7	—	13	-35	-16	-14	-16	-17
Leverage
Current ratio	2.26	1.37	1.1	0.9	1.1	1.16	1.48	1.51
Debt to EBITDA	—	0.61	—	7.12	0.35	0.12	0.1	0.15
Debt to equity	0.32	0.42	22.6	-0.65	-0.36	0.95	0.19	0.26
Interest coverage	0.7	0.9	-1.7	-1.6	0.9	2.9	2.5	1
Asset turnover	1.14	0.85	0.34	0.56	0.92	0.84	0.7	0.62
Return ratios
Return on assets %	0.6%	-0.6%	-13.5%	-13.4%	-0.5%	9.9%	6.3%	-1.8%
Return on capital employed %	2.3%	7.6%	-14.8%	-15.9%	9.6%	28.2%	19.1%	6.4%
Return on equity %	2.3%	-4%	-5,237.6%	102.9%	4.9%	409.4%	77.5%	-34.3%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	63.24%	63.13%	57.29%	55.29%	49.29%	49.27%	49.27%	43.54%	41.58%	41.58%	41.57%	41.57%
	20.29%	18.7%	23.66%	24.44%	25.39%	24.82%	25.12%	27.31%	28.44%	24.99%	21.64%	20.32%
	13.31%	14.72%	15.1%	15.44%	20.66%	21.21%	20.73%	24.09%	24.59%	28.09%	31.14%	31.85%
	0%	0%	0%	0%	0%	0%	0%	0%	0.07%	0.04%	0.04%	0.04%
	3.16%	3.45%	3.95%	4.83%	4.66%	4.7%	4.88%	5.06%	5.32%	5.3%	5.61%	6.22%
No. of shareholders	—	—	—	—	—	—	—	—	3,16,246	3,87,056	4,02,483	3,74,212

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹4,984.0 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹4,981.0	+75	+1.5%	₹4,981.0	40,404	+180	5,144	150
23 Nov 2026	₹5,005.0	+79.5	+1.6%	₹5,005.0	490	+89	265	150
29 Dec 2026	₹5,030.0	+85.5	+1.7%	₹5,030.0	23	+23	74	150

Open the chart icon on a row for that contract's close over 103 stored sessions, with open interest as bars beneath it.

30

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
1	0	1	₹990.0	4,000

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

222

across 23 fund houses

Held by these funds

13%

of the company's equity

All mutual funds

24.28%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

222 schemes · 23 fund houses

		Shares
Nifty 50 ETF	SBI Mutual Fund	43.91 L	2,298.02	1.07%	1.136%	+23,081
Aggressive Hybrid FundNEW	SBI Mutual Fund	40 L	2,093.6	2.36%	1.035%	—
BSE Sensex ETF	SBI Mutual Fund	29.98 L	1,554.34	1.27%	0.776%	+29,730
Portfolio of Kotak Flexi Cap FundNEW	Kotak Mahindra Mutual Fund	27 L	1,413.18	2.51%	0.698%	—
Large & Mid Cap Fund	ICICI Prudential Mutual Fund	24.04 L	1,258.28	3.75%	0.622%	+1.02 L
Large Cap Fund	ICICI Prudential Mutual Fund	20.8 L	1,088.48	1.36%	0.538%	-50,000
Large Cap Fund	Axis Mutual Fund	15.47 L	809.74	2.58%	0.4%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	14.14 L	740.34	1.73%	0.366%	-0

1–8 of 222

1 / 28

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

5

Final dividend13 Aug 2025 · ex-date₹10
Final dividend19 Aug 2019 · ex-date₹5
Final dividend2 Aug 2018 · ex-date₹6
Dividend dividend18 Aug 2017 · ex-date₹34
Final dividend12 Sept 2016 · ex-date₹15

1

Board meeting to consider results23 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

32 announcementsExport CSV

20 Aug 2026, 7:44 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	-0.7%	11.4%	-0.1%	2.1%	11.9%	23.7%	22.4%	14.1%
EBIT margin %	-3.4%	0.2%	-32.2%	-17.4%	2.6%	14.4%	11.6%	1.4%
PAT margin %	0.6%	-0.7%	-39.7%	-23.8%	-0.6%	11.9%	9%	-2.8%
Working capital
Receivable days	5	3	5	5	3	3	3	3
Inventory days	3	3	8	6	4	4	5	5
Payable days	0	—	1	45	24	22	24	25
NWC days	7	—	13	-35	-16	-14	-16	-17
Leverage
Current ratio	2.26	1.37	1.1	0.9	1.1	1.16	1.48	1.51
Debt to EBITDA	—	0.61	—	7.12	0.35	0.12	0.1	0.15
Debt to equity	0.32	0.42	22.6	-0.65	-0.36	0.95	0.19	0.26
Interest coverage	0.7	0.9	-1.7	-1.6	0.9	2.9	2.5	1
Asset turnover	1.14	0.85	0.34	0.56	0.92	0.84	0.7	0.62
Return ratios
Return on assets %	0.6%	-0.6%	-13.5%	-13.4%	-0.5%	9.9%	6.3%	-1.8%
Return on capital employed %	2.3%	7.6%	-14.8%	-15.9%	9.6%	28.2%	19.1%	6.4%
Return on equity %	2.3%	-4%	-5,237.6%	102.9%	4.9%	409.4%	77.5%	-34.3%

Calls	Strike	Puts
1	0	1	₹990.0	4,000

78 deals · 23 Sept 2021 – 27 Mar 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
27 Mar 2026	SOCIETE GENERALE	Block	BSE	Sell	7,63,433	₹4,294.70	₹327.87 Cr
27 Mar 2026	BNP PARIBAS FINANCIAL MARKETS	Block	BSE	Buy	7,63,433	₹4,294.70	₹327.87 Cr
16 Sept 2025	GOLDMAN SACHS (SINGAPORE) PTE - ODI	Block	NSE	Sell	2,24,409	₹5,728.50	₹128.55 Cr
16 Sept 2025	GOLDMAN SACHS BANK EUROPE SE - ODI	Block	NSE	Buy	2,24,409	₹5,728.50	₹128.55 Cr
15 Sept 2025	GOLDMAN SACHS (SINGAPORE) PTE - ODI	Block	NSE	Sell	1,81,724	₹5,727.50	₹104.08 Cr
15 Sept 2025	GOLDMAN SACHS BANK EUROPE SE - ODI	Block	NSE	Buy	1,81,724	₹5,727.50	₹104.08 Cr
11 Sept 2025	GOLDMAN SACHS (SINGAPORE) PTE - ODI	Block	NSE	Sell	1,37,578	₹5,663.00	₹77.91 Cr
11 Sept 2025	GOLDMAN SACHS BANK EUROPE SE - ODI	Block	NSE	Buy	1,37,578	₹5,663.00	₹77.91 Cr
8 Sept 2025	GOLDMAN SACHS (SINGAPORE) PTE - ODI	Block	NSE	Sell	1,04,028	₹5,670.00	₹58.98 Cr
8 Sept 2025	GOLDMAN SACHS BANK EUROPE SE - ODI	Block	NSE	Buy	1,04,028	₹5,670.00	₹58.98 Cr

1–10 of 78

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Date	Category	Subject	Filing
20 Aug 2026, 7:44 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
20 Aug 2026, 7:37 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
18 Aug 2026, 7:36 pm	Company Update General	Disclosure Under Regulation 30 Of SEBI LODR Regulations, 2015	PDF
3 Aug 2026, 12:37 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
31 Jul 2026, 9:13 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
29 Jul 2026, 2:59 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome	PDF
29 Jul 2026, 11:08 am	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
28 Jul 2026, 9:51 pm	AGM/EGM AGM	Notice Of AGM	PDF

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	3,782	3,903	3,176	6,972	-1,614	2,091	12,728	21,218	24,151	23,470
	-3,038	-4,160	-2,536	-4,568	3,197	1,502	-4,059	-11,809	-12,759	-1,953
	-1,401	766	-592	-2,407	-1,775	-3,088	-8,432	-9,979	-11,015	-21,276
Net cash flow	-657	510	47	-4	-192	505	236	-570	377	241
Free cash flow	—	—	—	—	-2,051	1,744	12,158	19,196	21,737	21,198
CFO / Operating profit %	176.5%	132%	—	171.8%	—	382%	196%	130%	133.7%	195.9%

InterGlobe Aviation

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

3

30

Fund holders

Documents

Announcements

Events

5

1

Announcements

5

1

3

30

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Return on equity

InterGlobe Aviation

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Futures3

Option chain30

Fund holders

Documents

Announcements

Events

Dividends5

Board meetings1

Announcements

Ratio timeline

Dividends5

Board meetings1

Futures3

Option chain30

Announcements

Quarterly record

Annual reports

Credit ratings

Investor Presentation and earnings call

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Return on equity

3

30

5

1

5

1

3

30