SpiceJet Ltd

₹ 57.8 -5.69%

20 Dec - close price

About

SpiceJet Ltd is principally engaged in the business of providing air transport services for the carriage of passengers and cargo.^[1]

Key Points

Company Overview
SpiceJet is a low-cost airline operating in India primarily. It operates the maximum number of UDAN flights in India. It operates ~250 daily flights to 48 destinations within India and to international destinations. Its fleet includes Boeing 737 Max, Boeing 700 and Q400s. ^[1]

Website BSE NSE

Market Cap ₹ 7,413 Cr.
Current Price ₹ 57.8
High / Low ₹ 79.9 / 46.0
Stock P/E
Book Value ₹ -33.0
Dividend Yield 0.00 %
ROCE 1.64 %
ROE %
Face Value ₹ 10.0

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Pros

Company has reduced debt.

Cons

Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -18.5%
The company has delivered a poor sales growth of -5.00% over past five years.
Promoter holding is low: 29.1%
Promoters have pledged 52.8% of their holding.
Earnings include an other income of Rs.1,552 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Air Transport Service Industry: Transport - Airlines

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
	1,090	1,343	2,259	1,866	2,457	1,953	2,315	2,145	2,002	1,425	1,904	1,719	1,696
	1,510	1,645	2,169	2,161	2,858	2,518	2,374	2,143	1,734	1,856	2,142	1,964	1,661
Operating Profit	-420	-302	91	-295	-401	-566	-60	2	268	-431	-238	-245	35
OPM %	-39%	-23%	4%	-16%	-16%	-29%	-3%	0%	13%	-30%	-13%	-14%	2%
	176	196	343	259	22	152	515	357	266	301	245	635	372
Interest	137	114	88	144	130	143	115	118	122	113	126	100	87
Depreciation	348	342	323	278	280	281	234	224	207	188	183	170	170
Profit before tax	-729	-562	23	-458	-789	-838	107	17	205	-432	-301	119	150
Tax %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	-729	-562	23	-458	-789	-838	107	17	205	-432	-301	119	150
EPS in Rs	-12.12	-9.34	0.39	-7.61	-13.11	-13.92	1.77	0.28	3.40	-6.31	-4.41	1.52	1.89
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	5,550	6,237	5,163	5,088	6,191	7,756	9,113	12,359	5,133	6,557	8,869	7,050	6,744
	5,746	7,084	5,776	4,542	5,646	6,992	9,119	11,842	4,958	7,480	9,892	7,692	7,624
Operating Profit	-195	-847	-613	546	545	764	-6	517	175	-923	-1,023	-642	-880
OPM %	-4%	-14%	-12%	11%	9%	10%	-0%	4%	3%	-14%	-12%	-9%	-13%
	204	131	218	210	150	127	79	828	987	973	1,046	1,443	1,552
Interest	117	139	165	126	66	93	134	546	603	486	507	462	426
Depreciation	84	148	127	180	199	231	256	1,734	1,558	1,290	1,019	748	711
Profit before tax	-191	-1,003	-687	450	431	567	-316	-935	-998	-1,725	-1,503	-409	-464
Tax %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	-191	-1,003	-687	450	431	567	-316	-935	-998	-1,725	-1,503	-409	-464
EPS in Rs	-3.95	-18.74	-11.46	7.50	7.19	9.45	-5.27	-15.58	-16.61	-28.67	-24.97	-5.23	-7.31
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	1%
5 Years:	-5%
3 Years:	11%
TTM:	-20%

Compounded Profit Growth
10 Years:	5%
5 Years:	-16%
3 Years:	17%
TTM:	9%

Stock Price CAGR
10 Years:	13%
5 Years:	-9%
3 Years:	-5%
1 Year:	-7%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	484	535	599	599	599	599	600	600	601	602	602	783
Reserves	-709	-1,530	-1,685	-1,638	-1,209	-642	-950	-2,179	-3,172	-4,890	-3,833	-3,369
	1,802	1,709	1,477	1,230	1,155	1,303	1,110	1,097	1,068	8,330	7,348	5,376
	1,493	2,233	2,215	2,656	2,445	2,772	4,048	13,354	12,879	5,479	6,163	6,167
Total Liabilities	3,071	2,947	2,607	2,847	2,991	4,032	4,807	12,872	11,376	9,520	10,280	8,957
	1,794	1,877	1,714	1,628	1,620	1,598	1,604	8,681	7,000	5,540	3,973	2,536
CWIP	1	1	0	0	0	0	0	0	6	6	6	5
Investments	0	0	0	20	140	101	0	1	3	3	3	19
	1,276	1,070	893	1,199	1,231	2,333	3,203	4,190	4,367	3,972	6,297	6,396
Total Assets	3,071	2,947	2,607	2,847	2,991	4,032	4,807	12,872	11,376	9,520	10,280	8,957

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-54	59	-411	711	496	1,046	456	1,778	226	978	93	-613
	-741	-50	304	-275	-491	-806	-146	-156	210	-122	561	36
	791	-221	126	-379	-62	-140	-364	-1,659	-435	-876	-632	732
Net Cash Flow	-3	-212	19	58	-57	100	-54	-37	1	-20	23	154

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	7	9	9	3	4	4	6	9	25	14	6	10
Inventory Days
Days Payable
Cash Conversion Cycle	7	9	9	3	4	4	6	9	25	14	6	10
Working Capital Days	-60	-106	-121	-141	-102	-97	-77	-117	-342	-155	-147	-191
ROCE %	-6%	-75%	-105%	178%	124%	72%	-12%	-269%		-91%	-24%	2%

Shareholding Pattern

Numbers in percentages

12 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	59.46%	59.40%	59.40%	59.39%	59.39%	58.98%	58.98%	56.53%	55.28%	48.27%	47.67%	29.14%
	1.16%	1.19%	1.18%	1.19%	0.65%	0.43%	0.35%	0.29%	0.33%	1.73%	1.81%	22.87%
	0.80%	0.03%	0.04%	0.04%	0.01%	0.01%	0.01%	0.01%	0.04%	5.30%	5.05%	8.37%
	38.59%	39.38%	39.38%	39.37%	39.95%	40.58%	40.67%	43.16%	44.35%	44.71%	45.48%	39.63%
No. of Shareholders	3,89,471	3,93,282	3,93,855	3,97,294	3,93,200	3,89,982	3,89,700	3,99,618	4,04,107	3,97,705	3,79,135	3,82,601

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	60.25%	60.03%	60.00%	59.93%	59.81%	59.40%	58.98%	48.27%	29.14%
	4.42%	6.51%	4.27%	1.71%	2.12%	1.19%	0.43%	1.73%	22.87%
	3.64%	5.22%	7.74%	10.66%	3.66%	0.03%	0.01%	5.30%	8.37%
	31.69%	28.24%	27.99%	27.71%	34.41%	39.38%	40.58%	44.71%	39.63%
No. of Shareholders	1,46,518	1,41,037	1,48,166	1,88,807	3,29,828	3,93,282	3,89,982	3,97,705	3,82,601

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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SpiceJet Ltd

SpiceJet Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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