SpiceJet Share Price & Earnings Call Analysis

Financials of SpiceJet

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of SpiceJet

Quarterly Results

Quarter-by-quarter operating performance

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales +2,3152,1452,0021,4251,9041,7191,6969111,2311,4461,1067811,384
Expenses +2,3742,1431,7341,8562,1421,9641,6611,2761,4191,3941,1961,2351,578
Operating Profit-602268-431-238-24535-365-18853-90-454-194
OPM %-3%0%13%-30%-13%-14%2%-40%-15%4%-8%-58%-14%
Other Income +5153572663012456353721664204958446120
Interest11511812211312610087876056625351
Depreciation234224207188183170170155146166168173144
Profit before tax10717205-432-301119150-44225325-235-634-269
Tax %0%0%0%0%0%0%0%0%0%0%0%0%0%
Net Profit +10717205-432-301119150-44225325-235-634-269
EPS in Rs1.770.283.40-6.31-4.411.521.89-3.450.192.30-1.66-4.48-1.76

Financials of SpiceJet

Profit & Loss

Annual income statement trend

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales +6,2375,1635,0886,1917,7569,11312,3595,1336,5578,8697,0505,2844,718
Expenses +7,0845,7764,5425,6466,9929,11911,8424,9587,4809,8927,6925,7495,403
Operating Profit-847-613546545764-6517175-923-1,023-642-465-685
OPM %-14%-12%11%9%10%-0%4%3%-14%-12%-9%-9%-15%
Other Income +131218210150127798289879731,0461,4431,451746
Interest1391651266693134546603486507462291223
Depreciation1481271801992312561,7341,5581,2901,019748638651
Profit before tax-1,003-687450431567-316-935-998-1,725-1,503-40958-813
Tax %0%0%0%0%0%0%0%0%0%0%0%0%
Net Profit +-1,003-687450431567-316-935-998-1,725-1,503-40958-813
EPS in Rs-18.74-11.467.507.199.45-5.27-15.58-16.61-28.67-24.97-5.230.41-5.60
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%0%

Financials of SpiceJet

Balance Sheet

Capital structure and asset base

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital5355995995995996006006016026027831,4131,414
Reserves-1,530-1,685-1,638-1,209-642-950-2,179-3,172-4,890-3,833-3,369-730-1,601
Borrowings +1,7091,4771,2301,1551,3031,1101,0971,0688,3307,3485,3764,2144,209
Other Liabilities +2,2332,2152,6562,4452,7724,04813,35412,8795,4796,1636,1674,2194,410
Total Liabilities2,9472,6072,8472,9914,0324,80712,87211,3769,52010,2808,9579,1168,431
Fixed Assets +1,8771,7141,6281,6201,5981,6048,6817,0005,5403,9732,5362,0841,879
CWIP100000066651010
Investments00201401010133319152191
Other Assets +1,0708931,1991,2312,3333,2034,1904,3673,9726,2976,3966,8696,352
Total Assets2,9472,6072,8472,9914,0324,80712,87211,3769,52010,2808,9579,1168,431

Financials of SpiceJet

Cash Flows

Operating, investing and financing cash movement

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity +59-4117114961,0464561,77822697893-613-1,665
Cash from Investing Activity +-50304-275-491-806-146-156210-12256136-674
Cash from Financing Activity +-221126-379-62-140-364-1,659-435-876-6327322,170
Net Cash Flow-2121958-57100-54-371-2023154-170
Free Cash Flow-23-3685532487902561,525165950112-659-1,749
CFO/OP-8%66%130%90%138%-8,302%350%108%-112%-13%93%369%

Financials of SpiceJet

Ratios

Working capital efficiency and return ratios

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days9934469251461014
Inventory Days
Days Payable
Cash Conversion Cycle9934469251461014
Working Capital Days-122-130-149-117-114-94-129-371-360-313-346-291
ROCE %-75%-105%178%124%72%-12%-269%-91%-24%2%9%

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