Interglobe Aviation Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1.89L Cr
- ROE
- -27.10%
- Price to sales
- 2.12
- Debt to equity
- 11.15
- 52W high / low
- ₹5,919 / ₹3,944
- Sales growth (5Y)
- 42.15%
- EBITDA margin
- 11.26%
- Net profit margin
- -2.61%
- Promoter holding
- 41.57%
- Sales (last year)
- ₹89,050 Cr
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]
Guidance scorecard · Q2 FY27 call
What Interglobe Aviation Ltd's management guided
and where it ranks in Transport Services
Transport Services
RevenueQ1 FY27 call
0–10%- IndiGo expects continued volume-driven growth by pushing more volumes and enabling more consumers to access services.
- Capacity growth guidance for FY27 remains in single digits, with a flattish capacity expectation for Q2 FY27 due to seasonal optimization and geopolitical factors.
- From FY28 to FY30, capacity growth is expected in the early double digits to mid-teens range.
- International ASK share is targeted to reach 40% by 2030, growing faster due to a lower base, with no plans to accelerate this target.
2 more points from Interglobe Aviation Ltd's call on revenue
Create a free account to keep reading this call
MarginsQ1 FY27 call
FlatSee what Interglobe Aviation Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- IndiGo has made deliberate capital allocations during the quarter toward long-term platform strengthening.
- Purchased 4 engines through their GIFT City entity.
- Made partial payment for land acquisition for a unified campus.
- Signed a Memorandum of Understanding (MoU) with CFM International for over 1,000 LEAP-1A engines to support future aircraft deliveries.
- The MoU also supports development of engine MRO (Maintenance, Repair, and Overhaul) and long-term material services.
2 more points from Interglobe Aviation Ltd's call on capex
Create a free account to keep reading this call
FundraisingQ1 FY27 call
See what Interglobe Aviation Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- IndiGo inducted a total of 13 aircraft from their original orderbook during Q1 FY27, all through their GIFT City entity.
- They redelivered 9 aircraft from their original orderbook.
- Additionally, 13 damp-leased aircraft were redelivered during the quarter.
- The total closing fleet at the quarter end stood at 432 aircraft.
2 more points from Interglobe Aviation Ltd's call on the order book
Create a free account to keep reading this call
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Transport Services
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Transport Services companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹795 Cr | 24.9 | |
| 2 | 40%+ | Flat | ₹16,984 Cr | 98.6 | |
| 3 | 40%+ | Flat | ₹4,361 Cr | 29.7 | |
| 4 | 40%+ | Flat | ₹591 Cr | 16.6 | |
| 5 | 20–40% | Up 2%+ | ₹510 Cr | 6.7 | |
| 6 | 20–40% | Up 2%+ | ₹234 Cr | 8.1 |
Sign up free to see every company in the sector ranking and track Interglobe Aviation Ltd.
Pro shows every company guiding 40%+ revenue growth →Full Transport Services rankingFinancials of Interglobe Aviation Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Interglobe Aviation Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 63.12% | 57.29% | 55.29% | 49.29% | 49.27% | 49.27% | 43.54% | 41.58% | 41.57% | 41.57% | 41.57% | 41.57% |
| FIIs + | 18.70% | 23.66% | 24.43% | 25.40% | 24.83% | 25.12% | 27.31% | 28.44% | 24.99% | 21.64% | 20.32% | 19.90% |
| DIIs + | 14.65% | 15.03% | 15.36% | 20.59% | 21.14% | 20.66% | 24.02% | 24.58% | 28.08% | 31.14% | 31.85% | 33.27% |
| Government + | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | 0.04% | 0.04% | 0.04% | 0.04% |
| Public + | 3.45% | 3.95% | 4.85% | 4.64% | 4.69% | 4.88% | 5.05% | 5.32% | 5.31% | 5.60% | 6.23% | 5.23% |
| No. of Shareholders | 1,41,106 | 1,70,059 | 2,39,650 | 2,49,061 | 2,73,677 | 2,89,444 | 3,03,062 | 3,16,246 | 3,87,056 | 4,02,483 | 3,74,212 | 3,62,742 |
Pros & Cons
Interglobe Aviation Ltd
Key positives and risks surfaced from the company insights section.
- Stock is trading at 37.8 times its book value
- Company has low interest coverage ratio.
- Promoter holding has decreased over last 3 years: -21.7%
- Stock is trading at 37.8 times its book value
- Company has low interest coverage ratio.
- Promoter holding has decreased over last 3 years: -21.7%
Financials of Interglobe Aviation Ltd
Quarterly Results
Quarter-by-quarter operating performance
| 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 | 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 |
Financials of Interglobe Aviation Ltd
Profit & Loss
Annual income statement trend
| 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% |
Financials of Interglobe Aviation Ltd
Balance Sheet
Capital structure and asset base
| 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 |
Financials of Interglobe Aviation Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 3,782 | 3,903 | 3,176 | 6,972 | -1,614 | 2,091 | 12,728 | 21,218 | 24,151 | 23,470 |
| Cash from Investing Activity + | -3,033 | -4,151 | -2,526 | -4,574 | 3,179 | 1,504 | -4,043 | -11,812 | -12,758 | -1,943 |
| Cash from Financing Activity + | -1,401 | 766 | -592 | -2,407 | -1,775 | -3,088 | -8,432 | -9,979 | -11,015 | -21,276 |
| Net Cash Flow | -652 | 518 | 58 | -9 | -210 | 506 | 253 | -573 | 378 | 251 |
| Free Cash Flow | 4,158 | 2,683 | 1,469 | 5,910 | -2,035 | 1,750 | 12,163 | 20,120 | 22,558 | 21,767 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 190% | 153% | -2,197% | 178% | -10,784% | 398% | 201% | 133% | 136% | 197% |
Financials of Interglobe Aviation Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 3 | 4 | 5 | 3 | 5 | 5 | 3 | 3 | 3 | 3 |
| Inventory Days | ||||||||||
| Days Payable | ||||||||||
| Cash Conversion Cycle | 3 | 4 | 5 | 3 | 5 | 5 | 3 | 3 | 3 | 3 |
| Working Capital Days | -72 | -70 | -64 | -147 | -416 | -287 | -141 | -144 | -123 | -129 |
| ROCE % | 40% | 0% | 5% | -14% | -13% | 7% | 24% | 17% | 5% |
Guidance history
How Interglobe Aviation Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 0–10% | Flat | Planned | — | — |
| Q3 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q2 FY26 call → | 10–20% | Flat | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
58 out of 100 — Steady
Over the past year its share price has moved roughly in the middle of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −14.8% | 45% |
| Last 6 months | +13.6% | 71% |
| Last 3 months | −5.7% | 56% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Interglobe Aviation Ltd: 0.4 × 45 + 0.4 × 71 + 0.2 × 56 = 58.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Interglobe Aviation Ltd's management said in earlier quarters
Others in Transport Services this season
- Delhivery Ltd (Q2 FY27)
Q2FY27 Revenue from services: ₹3,066 Cr, up 19.8% YoY (Page 4, 11) . Key investor presentation takeaways from Delhivery Ltd's Q2 FY27 investor presentation — an
- Globe International Carriers Ltd (Q2 FY27)
Consolidated revenue from operations for Q1 FY27: ₹37.18 Cr, a 5.0% year-on-year (YoY) increase from ₹35.40 Cr in Q1 FY26. Key investor presentation takeaways f
- Shadowfax Technologies Ltd (Q2 FY27)
Revenue from Operations: ₹1,538 Cr, up 56.6% YoY (Page 12) . Key investor presentation takeaways from Shadowfax Technologies Ltd's Q2 FY27 investor presentation
- Blackbuck Ltd (Q2 FY27)
Revenue from operations for Q2’FY27: ₹235.33 Cr, up 56% YoY (Page 6, 7) . Key investor presentation takeaways from Blackbuck Ltd's Q2 FY27 investor presentation