SpiceJet Ltd

₹ 49.6 2.29%

06 Mar 4:01 p.m.

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 ₹ 6,353 Cr.
Current Price ₹ 49.6
High / Low ₹ 79.9 / 39.9
Stock P/E
Book Value ₹ 0.33
Dividend Yield 0.00 %
ROCE 1.64 %
ROE %
Face Value ₹ 10.0

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Pros

Company has reduced debt.

Cons

Stock is trading at 154 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -5.00% over past five years.
Promoter holding is low: 29.1%
Company might be capitalizing the interest cost
Promoters have pledged 40.3% of their holding.
Earnings include an other income of Rs.1,592 Cr.
Promoter holding has decreased over last 3 years: -30.3%

* 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

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	2,259	1,866	2,457	1,953	2,315	2,145	2,002	1,425	1,904	1,719	1,696	911	1,231
	2,169	2,161	2,858	2,518	2,374	2,143	1,734	1,856	2,142	1,964	1,661	1,276	1,419
Operating Profit	91	-295	-401	-566	-60	2	268	-431	-238	-245	35	-365	-188
OPM %	4%	-16%	-16%	-29%	-3%	0%	13%	-30%	-13%	-14%	2%	-40%	-15%
	343	259	22	152	515	357	266	301	245	635	372	166	420
Interest	88	144	130	143	115	118	122	113	126	100	87	87	60
Depreciation	323	278	280	281	234	224	207	188	183	170	170	155	146
Profit before tax	23	-458	-789	-838	107	17	205	-432	-301	119	150	-442	25
Tax %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	23	-458	-789	-838	107	17	205	-432	-301	119	150	-442	25
EPS in Rs	0.39	-7.61	-13.11	-13.92	1.77	0.28	3.40	-6.31	-4.41	1.52	1.89	-3.45	0.19
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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	5,557
	5,746	7,084	5,776	4,542	5,646	6,992	9,119	11,842	4,958	7,480	9,892	7,692	6,320
Operating Profit	-195	-847	-613	546	545	764	-6	517	175	-923	-1,023	-642	-763
OPM %	-4%	-14%	-12%	11%	9%	10%	-0%	4%	3%	-14%	-12%	-9%	-14%
	204	131	218	210	150	127	79	828	987	973	1,046	1,443	1,592
Interest	117	139	165	126	66	93	134	546	603	486	507	462	335
Depreciation	84	148	127	180	199	231	256	1,734	1,558	1,290	1,019	748	642
Profit before tax	-191	-1,003	-687	450	431	567	-316	-935	-998	-1,725	-1,503	-409	-148
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	-148
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	0.15
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:	-26%

Compounded Profit Growth
10 Years:	5%
5 Years:	-16%
3 Years:	17%
TTM:	71%

Stock Price CAGR
10 Years:	9%
5 Years:	-5%
3 Years:	-4%
1 Year:	-22%

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	Sep 2024
Equity Capital	484	535	599	599	599	599	600	600	601	602	602	783	1,282
Reserves	-709	-1,530	-1,685	-1,638	-1,209	-642	-950	-2,179	-3,172	-4,890	-3,833	-3,369	-1,240
	1,802	1,709	1,477	1,230	1,155	1,303	1,110	1,097	1,068	8,330	7,348	5,376	5,018
	1,493	2,233	2,215	2,656	2,445	2,772	4,048	13,354	12,879	5,479	6,163	6,167	5,883
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	10,943
	1,794	1,877	1,714	1,628	1,620	1,598	1,604	8,681	7,000	5,540	3,973	2,536	2,226
CWIP	1	1	0	0	0	0	0	0	6	6	6	5	5
Investments	0	0	0	20	140	101	0	1	3	3	3	19	19
	1,276	1,070	893	1,199	1,231	2,333	3,203	4,190	4,367	3,972	6,297	6,396	8,693
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	10,943

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

1 Recently

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	59.40%	59.40%	59.39%	59.39%	58.98%	58.98%	56.53%	55.28%	48.27%	47.67%	29.14%	29.14%
	1.19%	1.18%	1.19%	0.65%	0.43%	0.35%	0.29%	0.33%	1.73%	1.81%	22.87%	15.76%
	0.03%	0.04%	0.04%	0.01%	0.01%	0.01%	0.01%	0.04%	5.30%	5.05%	8.45%	7.57%
	39.38%	39.38%	39.37%	39.95%	40.58%	40.67%	43.16%	44.35%	44.71%	45.48%	39.55%	47.55%
No. of Shareholders	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	4,25,659

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Dec 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%	15.76%
	3.64%	5.22%	7.74%	10.66%	3.66%	0.03%	0.01%	5.30%	7.57%
	31.69%	28.24%	27.99%	27.71%	34.41%	39.38%	40.58%	44.71%	47.55%
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	4,25,659

* 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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