INTERGLOBE AVIATION LIMITED (INDIGO): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹5,430 latest close · +0.1% over the last 90 sessions

₹5,430 month-end · −8.0% over 12 months

₹5,430 month-end · +100.7% over 3 years

₹5,430 month-end · +357.1% since Jan '19

52-week range ₹3895.20 to ₹5970.00 · 1-year volatility 34.9%

How rough has the ride been?

Maximum drawdown-54.7%recovered 2021-08

1-year volatility34.9%annualised

Beta vs sector index0.573-year daily, correlation 0.49

Volume spikes0last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-54.7% (2019-09 peak to 2020-03 low, recovered 2021-08)

-35.9% (2025-08 peak to 2026-03 low, not yet recovered)

-34.5% (2021-11 peak to 2022-06 low, recovered 2023-05)

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Where does it rank among Transportation peers?

Each cell is the company's percentile rank among its Transportation peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

ROCE16th▼ 57 pts vs a year ago
Op. margin52nd▼ 21 pts vs a year ago
Revenue growth37th▼ 24 pts vs a year ago
EPS growth4th▼ 31 pts vs a year ago
Debt/equity ↓1stflat vs a year ago
Cash cycle ↓96thflat vs a year ago
P/E ↓14th▼ 17 pts vs a year ago
12M momentum52nd▼ 41 pts vs a year ago

Rank history

ROCE

Op. margin

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Transportation sector page Watch it move against Transportation in the Observatory

What is the price implying?

Trailing earnings per share are negative, so a P/E-based figure does not exist. See the loss-makers list on the Expectations Gap page for a revenue-based version.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Transportation The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹5430.00
ROCE: 5.0%
Market Cap: ₹2.10L cr
Revenue (TTM): ₹89049 cr
P/S: 2.4x
P/B: 30.1x
ROE: -68.9%
Operating Margin: 13.0%
Debt / Equity: 11.2x
Promoter Holding: 41.6%
12M Momentum: -8.0%

52-week range

₹3895.20₹5970.00

74% of the way from its 52-week low to its high

Price risk

1Y volatility

34.9%

Beta vs sector

1-year daily

0.81

Balance sheet & cash

Interest cover

operating profit ÷ interest

0.3x

Cash from profit, 3Y

operating cash flow ÷ net profit

5.00x

Share count, 1Y

+0.3%

Are profits backed by cash?

4 of 4checks within rangeAll clear

Other income reliance—Not enough data

Not enough reported data to compute this.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion5.28xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 5.28x (cash from operations ₹68,839 cr, net profit ₹13,036 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 5. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history0 daysWithin range

Debtor days are below the median of the previous three fiscal years by 0 days (3 vs 3). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 3 years, promoters trimmed 21.7 pts; DIIs added 18.6 pts.
The number of shareholders rose from 1.4 lakh to 3.7 lakh (+167%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change

Promoters63.3%41.6%-21.7 pts

FIIs20.3%20.3%0.0 pts

DIIs13.3%31.9%+18.6 pts

Public and others3.2%6.2%+3.1 pts

Number of shareholders

3.7 lakhshareholders+167% since Sep '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−6.5%typical 12-month return vs the marketNot meaningfully different from the base rate

We found 50 past situations where a non-financial company looked like INTERGLOBE AVIATION LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −26% to +21% vs the market, against −4% for all non-financial companies in the same months.
The gap against the base rate (−2.9%, 80% range −8.2% to +0.7%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 2 beyond the range shown, drawn at the edge

Similar setups' median

−6.5%

All companies' median

−3.6%

Beat the market

40% vs 46%

50 past situations · 50 companies · 35 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
GMRAIRPORT Transportation	Feb 2023	—	5%	0%	−14%	+48%
ASHOKLEY Producer Manufacturing	Sep 2022	—	6%	+15%	−9%	0%
PATANJALI Process Industries	Dec 2023	—	2%	+32%	−3%	−4%
PRSMJOHNSN Non-Energy Minerals	Jun 2023	—	1%	+20%	−6%	−8%
DEVYANI Consumer Services	Sep 2025	—	6%	−14%	−17%	−23%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
IDEA Communications	Sep 2023	—	-4%	+32%	−4%	−39%
BHARTIARTL Communications	Jan 2021	—	5%	+12%	−8%	−1%
SHOPERSTOP Retail Trade	May 2023	—	4%	+64%	−5%	−33%

How reliable is this?

Matched on P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: ROCE, interest cover and 12-month momentum. Not used (unavailable for this company): P/E. This company is loss-making, so it was only compared with loss-making companies. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to INTERGLOBE AVIATION LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

AARTI INDUSTRIESAARTIIND

Process Industries

58%similar

promoter holdingROCE

PIRAMAL PHARMAPPLPHARMA

Health Technology

56%similar

ROCEpromoter holding

GRASIM INDUSTRIESGRASIM

Non-Energy Minerals

55%similar

market caprevenue

BHARAT FORGEBHARATFORG

Producer Manufacturing

54%similar

promoter holdingmarket cap

KRISHNA INSTITUTE OF MED SCIKIMS

Health Services

52%similar

debt/equitypromoter holding

TVS SUPPLY CHAIN SOLUTIONSTVSSCS

Transportation

29%similar

promoter holdingdebt/equity

MAHINDRA LOGISTICSMAHLOG

Transportation

21%similar

ROCErevenue growth

DELHIVERYDELHIVERY

Transportation

13%similar

revenue growthROCE

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Aug '23

2026
SepPeer rankMoved into the 2nd quartile of Transportation on operating margin (from the bottom quartile).
JunResultsEPS (TTM) turned negative.
JunPeer rankSlipped to the bottom quartile of Transportation on ROCE (from the 2nd quartile).
JunDividendDividend payout cut from 5% to 0% of profit.
JunPriceVolume reached 5.0x its 50-day median on 2026-06-25; price +4.7% that day.
MarPriceFell 36% from the Aug 2025 peak to the Mar 2026 low.
MarPeer rankMoved into the top quartile of Transportation on operating margin (from the bottom quartile).
JanDebtDebt / equity halved over 12 months to 7.13x.

Show 22 earlier events

2025
DecInstitutionsFII + DII holding rose 7.2 pts over 2 quarters to 53.0%.
DecPeer rankSlipped to the bottom quartile of Transportation on operating margin (from the 2nd quartile).
DecPriceVolume reached 23.8x its 50-day median on 2025-12-08; price -8.3% that day.
SepPromoterPromoter holding fell 5.7 pts to 43.5% (largest drop since 2024-12).
SepPeer rankSlipped to the 2nd quartile of Transportation on operating margin (from the top quartile).
AugPeer rankSlipped to the 2nd quartile of Transportation on ROCE (from the top quartile).
AugPriceVolume reached 23.4x its 50-day median on 2025-08-28; price -5.3% that day.
JunPeer rankMoved into the top quartile of Transportation on operating margin (from the 2nd quartile).
JunDebtDebt / equity halved over 12 months to 7.13x.
JunDividendStarted paying a dividend (payout 5% of profit).
MayPriceVolume reached 30.2x its 50-day median on 2025-05-27; price -2.0% that day.
MarInstitutionsFII + DII holding rose 6.2 pts over 2 quarters to 46.0%.
2024
DecPromoterPromoter holding fell 6.0 pts to 49.3%.
OctPriceVolume reached 8.6x its 50-day median on 2024-10-28; price -8.0% that day.
SepPromoterPromoter holding fell 2.0 pts to 55.3% (largest drop since 2024-06).
AugPriceVolume reached 8.5x its 50-day median on 2024-08-29; price -2.1% that day.
JunPromoterPromoter holding fell 5.8 pts to 57.3%.
JunResultsEPS (TTM) turned positive.
JunInstitutionsFII + DII holding rose 5.3 pts over 1 quarter to 38.7%.
JunPeer rankMoved into the top quartile of Transportation on ROCE (from the 3rd quartile).
MarPriceVolume reached 14.3x its 50-day median on 2024-03-11; price +3.6% that day.
2023
AugPriceVolume reached 20.6x its 50-day median on 2023-08-16; price -3.5% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history95 months · 2019-01 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	—	₹89049 cr	-68.9%	5.0%	11.2x
2026-10	—	₹89049 cr	-69.0%	5.0%	11.2x
2026-09	—	₹89049 cr	-69.0%	5.0%	11.2x
2026-08	—	₹84961 cr	-34.3%	5.0%	11.2x
2026-07	—	₹84961 cr	-34.3%	5.0%	11.2x
2026-06	—	₹84961 cr	-34.3%	5.0%	11.2x
2026-05	53.0x	₹84675 cr	34.3%	17.0%	7.1x
2026-04	51.7x	₹84675 cr	34.3%	17.0%	7.1x
2026-03	47.4x	₹84675 cr	34.3%	17.0%	7.1x
2026-02	36.5x	₹83314 cr	54.6%	17.0%	7.1x
2026-01	34.7x	₹83314 cr	54.6%	17.0%	7.1x
2025-12	38.2x	₹83314 cr	54.6%	17.0%	7.1x
2025-11	34.0x	₹81729 cr	71.6%	17.0%	7.1x
2025-10	32.4x	₹81729 cr	71.6%	17.0%	7.1x
2025-09	32.2x	₹81729 cr	71.6%	17.0%	7.1x
2025-08	30.0x	₹80804 cr	77.5%	17.0%	7.1x
2025-07	31.5x	₹80804 cr	77.5%	17.0%	7.1x
2025-06	31.8x	₹80804 cr	77.5%	17.0%	7.1x
2025-05	33.8x	₹76477 cr	304.9%	24.0%	25.7x
2025-04	33.3x	₹76477 cr	304.9%	24.0%	25.7x
2025-03	32.5x	₹76477 cr	304.9%	24.0%	25.7x
2025-02	26.0x	₹73818 cr	332.4%	24.0%	25.7x
2025-01	25.2x	₹73818 cr	332.4%	24.0%	25.7x
2024-12	26.5x	₹73818 cr	332.4%	24.0%	25.7x
2024-11	21.6x	₹71792 cr	391.3%	24.0%	25.7x
2024-10	20.0x	₹71792 cr	391.3%	24.0%	25.7x
2024-09	23.7x	₹71792 cr	391.3%	24.0%	25.7x
2024-08	22.8x	₹68904 cr	409.4%	24.0%	25.7x
2024-07	21.1x	₹68904 cr	409.4%	24.0%	25.7x
2024-06	20.0x	₹68904 cr	409.4%	24.0%	25.7x
2024-05	—	₹54446 cr	—	7.0%	—
2024-04	—	₹54446 cr	—	7.0%	—
2024-03	—	₹54446 cr	—	7.0%	—
2024-02	—	₹54446 cr	—	7.0%	—
2024-01	—	₹54446 cr	—	7.0%	—
2023-12	—	₹54446 cr	—	7.0%	—
2023-11	—	₹54446 cr	—	7.0%	—
2023-10	—	₹54446 cr	—	7.0%	—
2023-09	—	₹54446 cr	—	7.0%	—
2023-08	—	₹54446 cr	—	7.0%	—
2023-07	—	₹54446 cr	—	7.0%	—
2023-06	—	₹54446 cr	—	7.0%	—
2023-05	—	₹25931 cr	—	-13.0%	—
2023-04	—	₹25931 cr	—	-13.0%	—
2023-03	—	₹25931 cr	—	-13.0%	—
2023-02	—	₹25931 cr	—	-13.0%	—
2023-01	—	₹25931 cr	—	-13.0%	—
2022-12	—	₹25931 cr	—	-13.0%	—
2022-11	—	₹25931 cr	—	-13.0%	—
2022-10	—	₹25931 cr	—	-13.0%	—
2022-09	—	₹25931 cr	—	-13.0%	—
2022-08	—	₹25931 cr	—	-13.0%	—
2022-07	—	₹25931 cr	—	-13.0%	—
2022-06	—	₹25931 cr	—	-13.0%	—
2022-05	—	₹14641 cr	—	-14.0%	269.0x
2022-04	—	₹14641 cr	—	-14.0%	269.0x
2022-03	—	₹14641 cr	—	-14.0%	269.0x
2022-02	—	₹14641 cr	—	-14.0%	269.0x
2022-01	—	₹14641 cr	—	-14.0%	269.0x
2021-12	—	₹14641 cr	—	-14.0%	269.0x
2021-11	—	₹14641 cr	—	-14.0%	269.0x
2021-10	—	₹14641 cr	—	-14.0%	269.0x
2021-09	—	₹14641 cr	—	-14.0%	269.0x
2021-08	—	₹14641 cr	—	-14.0%	269.0x
2021-07	—	₹14641 cr	—	-14.0%	269.0x
2021-06	—	₹14641 cr	—	-14.0%	269.0x
2021-05	—	₹35756 cr	-4.0%	5.0%	3.9x
2021-04	—	₹35756 cr	-4.0%	5.0%	3.9x
2021-03	—	₹35756 cr	-4.0%	5.0%	3.9x
2021-02	—	₹35756 cr	-4.0%	5.0%	3.9x
2021-01	—	₹35756 cr	-4.0%	5.0%	3.9x
2020-12	—	₹35756 cr	-4.0%	5.0%	3.9x
2020-11	—	₹35756 cr	-4.0%	5.0%	3.9x
2020-10	—	₹35756 cr	-4.0%	5.0%	3.9x
2020-09	—	₹35756 cr	-4.0%	5.0%	3.9x
2020-08	—	₹35756 cr	-4.0%	5.0%	3.9x
2020-07	—	₹35756 cr	-4.0%	5.0%	3.9x
2020-06	—	₹35756 cr	-4.0%	5.0%	3.9x
2020-05	236.1x	₹28497 cr	2.3%	0.0%	0.3x
2020-04	243.3x	₹28497 cr	2.3%	0.0%	0.3x
2020-03	260.7x	₹28497 cr	2.3%	0.0%	0.3x
2020-02	317.9x	₹28497 cr	2.3%	0.0%	0.3x
2020-01	337.0x	₹28497 cr	2.3%	0.0%	0.3x
2019-12	326.1x	₹28497 cr	2.3%	0.0%	0.3x
2019-11	353.1x	₹28497 cr	2.3%	0.0%	0.3x
2019-10	356.2x	₹28497 cr	2.3%	0.0%	0.3x
2019-09	462.0x	₹28497 cr	2.3%	0.0%	0.3x
2019-08	413.3x	₹28497 cr	2.3%	0.0%	0.3x
2019-07	380.7x	₹28497 cr	2.3%	0.0%	0.3x
2019-06	380.9x	₹28497 cr	2.3%	0.0%	0.3x
2019-05	28.7x	₹23021 cr	31.7%	40.0%	0.3x
2019-04	26.0x	₹23021 cr	31.7%	40.0%	0.3x
2019-03	24.5x	₹23021 cr	31.7%	40.0%	0.3x
2019-02	19.3x	₹23021 cr	31.7%	40.0%	0.3x
2019-01	20.4x	₹23021 cr	31.7%	40.0%	0.3x

Methodology and data notes