SpiceJet

₹39 0.7 | 1.8%

WEBSITE BSE:500285 NSE : SPICEJET LTD 09 Jul, 11:21

Market Cap ₹5511 Cr.

Stock P/E -13

P/B -2.8

Current Price ₹39

Book Value ₹ -13.8

Face Value 10

52W High ₹79.9

Dividend Yield 0%

52W Low ₹ 38

Edit Ratio

SpiceJet Research see more...

Overview Inc. Year: 1984Industry: Airlines

Spicejet Ltd is an India-based organization engaged in transportation of passengers by air. The Company is engaged within the enterprise of scheduled air transport services. Its geographical segments consist of India and others. It presents air transport services for the carriage of passengers and load. The Company is a low cost carrier (LCC) operating below the brand name of Spice Jet in India. The Company operates a fleet of approximately 40 plane, along with approximately seven aircraft taken on wet lease across various routes in India and overseas. The Company's spice add-on consists of spice cash/spice club, SpiceMax, hot meals, SpiceCash Top-up, priority check-in, Spice talk, track Spicetalk request, bag out first, carry more onboard, fly for sure, Spice lounge, my flexi plan, reliance tour coverage, Spice assurance, Spice flex, friends and family, senior citizen and student discount, Indian defense force personnel and red hot offers.

SpiceJet Share Price

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Quarterly Price

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Peer Comparison

SpiceJet Quarterly Results

#(Fig in Cr.)	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Net Sales	2317	2145	2004	1429	1914	1738	1708	915	1237	1466
Other Income	505	354	263	297	242	636	370	163	417	492
Total Income	2822	2499	2267	1726	2157	2375	2078	1078	1654	1958
Total Expenditure	2363	2160	1738	1872	2145	1973	1659	1290	1425	1393
Operating Profit	460	339	529	-146	11	401	418	-212	230	566
Interest	115	120	123	114	126	102	88	88	61	57
Depreciation	235	225	208	189	184	173	172	158	148	166
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	110	-6	198	-449	-299	127	158	-458	20	342
Provision for Tax	0	0	0	0	0	0	0	0	0	0
Profit After Tax	110	-6	198	-449	-299	127	158	-458	20	342
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	110	-6	198	-449	-299	127	158	-458	20	342
Adjusted Earnings Per Share	1.8	-0.1	3.3	-6.6	-4.4	1.6	2	-3.6	0.2	2.4

SpiceJet Profit & Loss

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	5088	6191	7760	9121	12375	5171	6604	8874	7085	5326
Other Income	152	112	129	145	831	1051	1027	1023	1439	1442
Total Income	5240	6303	7889	9266	13205	6222	7631	9897	8524	6768
Total Expenditure	4515	5621	6979	9085	11826	5199	7502	9858	7712	5767
Operating Profit	725	682	911	181	1380	1023	129	39	812	1002
Interest	159	95	122	164	581	491	502	530	483	294
Depreciation	180	199	231	256	1735	1561	1293	1023	753	644
Exceptional Income / Expenses	64	39	0	-63	0	0	-77	0	0	0
Profit Before Tax	450	427	557	-302	-937	-1030	-1744	-1513	-424	62
Provision for Tax	0	0	0	0	0	0	0	0	0	0
Profit After Tax	450	427	557	-302	-937	-1030	-1744	-1513	-424	62
Adjustments	0	0	0	0	0	0	0	0	1	0
Profit After Adjustments	450	427	557	-302	-937	-1030	-1744	-1513	-423	62
Adjusted Earnings Per Share	7.5	7.1	9.3	-5	-15.6	-17.1	-29	-25.1	-5.4	1

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-20%	11%	-5%	0%
Operating Profit CAGR	1982%	-7%	35%	0%
PAT CAGR	0%	0%	0%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-26%	-0%	-5%	7%
ROE Average	0%	0%	0%	0%
ROCE Average	0%	0%	-52%	30%

SpiceJet Balance Sheet

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	-1039	-613	-56	-350	-1580	-2604	-4340	-5850	-5217
Minority's Interest	0	0	0	0	0	0	-0	-0	-1
Borrowings	921	776	651	557	459	303	313	466	892
Other Non-Current Liabilities	339	357	327	967	7441	5883	4969	3151	1699
Total Current Liabilities	2625	2470	3098	3631	6540	7771	8613	10004	9099
Total Liabilities	2847	2991	4019	4805	12861	11352	9555	7771	6472
Fixed Assets	1628	1620	1598	1626	8714	7033	5569	4006	2571
Other Non-Current Assets	539	659	1480	1797	1933	1733	1819	1623	1391
Total Current Assets	680	711	941	1381	2214	2586	2166	2141	2510
Total Assets	2847	2991	4019	4805	12861	11352	9555	7771	6472

SpiceJet Cash Flow

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	18	76	20	120	67	30	33	11	34
Cash Flow from Operating Activities	711	479	1036	456	1784	228	1004	120	-596
Cash Flow from Investing Activities	-275	-493	-825	-144	-166	212	-149	512	36
Cash Flow from Financing Activities	-379	-43	-110	-364	-1660	-437	-878	-610	730
Net Cash Inflow / Outflow	58	-57	100	-52	-41	4	-23	22	170
Closing Cash & Cash Equivalent	76	20	120	67	30	33	11	34	203

SpiceJet Ratios

#	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	7.5	7.13	9.3	-5.04	-15.61	-17.14	-28.98	-25.14	-5.4
CEPS(Rs)	10.5	10.44	13.15	-0.77	13.31	8.84	-7.49	-8.15	4.2
DPS(Rs)	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	-17.34	-10.22	-0.95	-5.94	-26.56	-43.47	-72.19	-97.3	-69.71
Core EBITDA Margin(%)	11.26	9.22	10.07	0.4	4.44	-0.54	-13.61	-11.09	-8.85
EBIT Margin(%)	11.97	8.44	8.75	-1.52	-2.88	-10.41	-18.81	-11.08	0.83
Pre Tax Margin(%)	8.84	6.9	7.18	-3.32	-7.57	-19.91	-26.41	-17.05	-5.98
PAT Margin (%)	8.84	6.9	7.18	-3.32	-7.57	-19.91	-26.41	-17.05	-5.98
Cash Profit Margin (%)	12.37	10.11	10.16	-0.5	6.46	10.27	-6.83	-5.52	4.65
ROA(%)	15.8	14.64	15.9	-6.85	-10.6	-8.51	-16.69	-17.47	-5.95
ROE(%)	0	0	0	0	0	0	0	0	0
ROCE(%)	319.11	142.4	75.9	-13.83	-257.72	0	0	0	0
Receivable days	3.11	3.1	3.47	4.66	6.5	21.7	15.87	8.5	8.19
Inventory Days	4.77	4.87	5.65	5.67	4.76	12.31	8.79	6.45	8.62
Payable days	0	0	0	0	3023.4	7453.68	8350.62	0	0
PER(x)	8.52	14.27	13.46	0	0	0	0	0	0
Price/Book(x)	-3.69	-9.95	-131.11	-16.46	-1.39	-1.6	-0.75	-0.31	-0.86
Dividend Yield(%)	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	0.97	1.16	1.12	0.76	0.26	1.01	0.65	0.34	0.8
EV/Core EBITDA(x)	6.84	10.53	9.51	38.07	2.37	5.09	33.36	75.53	6.95
Net Sales Growth(%)	0	21.68	25.34	17.54	35.66	-58.21	27.69	34.38	-20.15
EBIT Growth(%)	0	-14.2	30.02	-120.43	-156.39	-51.33	-130.73	20.84	105.98
PAT Growth(%)	0	-5.02	30.43	-154.27	-209.7	-9.96	-69.37	13.26	71.99
EPS Growth(%)	0	-5.02	30.43	-154.25	-209.51	-9.81	-69.1	13.27	78.53
Debt/Equity(x)	-1.18	-1.89	-22.77	-3.12	-0.69	-0.41	-0.25	-0.2	-0.21
Current Ratio(x)	0.26	0.29	0.3	0.38	0.34	0.33	0.25	0.21	0.28
Quick Ratio(x)	0.23	0.25	0.26	0.34	0.31	0.31	0.23	0.2	0.26
Interest Cover(x)	3.83	5.49	5.57	-0.85	-0.61	-1.1	-2.47	-1.86	0.12
Total Debt/Mcap(x)	0.32	0.19	0.17	0.19	0.5	0.26	0.33	0.65	0.25

SpiceJet Shareholding Pattern

#	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Promoter	59.39	58.98	58.98	56.53	55.28	48.27	47.66	29.13	29.13	33.46
FII	0.63	0.41	0.33	0.27	0.31	1.71	1.8	22.86	15.75	11.84
DII	0.02	0.02	0.02	0.02	0.05	5.31	5.06	8.38	7.55	6.92
Public	39.95	40.59	40.67	43.17	44.36	44.71	45.48	39.63	47.57	47.78
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Promoter	35.75	35.49	35.49	38.68	37.83	37.82	37.82	37.34	37.34	47.29
FII	0.38	0.25	0.2	0.19	0.21	1.34	1.43	29.3	20.19	16.73
DII	0.01	0.01	0.01	0.01	0.03	4.16	4.01	10.74	9.68	9.78
Public	24.04	24.43	24.48	29.54	30.35	35.02	36.08	50.8	60.96	67.54
Others	0	0	0	0	0	0	0	0	0	0
Total	60.18	60.18	60.18	68.41	68.43	78.34	79.34	128.17	128.17	141.34

Pros

Stock is trading at -2.8 times its book value
Company is almost debt free.

Cons

Promoter holding is low: 33.46%.
Company has a low return on equity of 0% over the last 3 years.

* 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.