Company Valuation: InterGlobe Aviation Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 6,28,078 7,75,961 7,36,646 13,69,703 19,76,691 16,93,520 - -
Change - 23.55% -5.07% 85.94% 44.32% -14.33% - -
Enterprise Value (EV) 1 7,34,811 9,62,473 9,51,211 15,59,586 22,07,412 19,67,169 20,07,438 20,45,096
Change - 30.98% -1.17% 63.96% 41.54% -10.88% 2.05% 1.88%
P/E ratio -10.8x -12.6x -241x 16.8x 27.3x 53.7x 21.2x 18.5x
PBR 567x -13x -11.8x 68.6x 21.1x 15.1x 9.07x 6.35x
PEG - -2.08x 2.5x -0x -2.4x -1x 0x 1.3x
Capitalization / Revenue 4.29x 2.99x 1.35x 1.99x 2.45x 1.96x 1.71x 1.51x
EV / Revenue 5.02x 3.71x 1.75x 2.26x 2.73x 2.28x 2.02x 1.82x
EV / EBITDA 275x 112x 14.6x 9.56x 12.2x 11.2x 8.44x 7.47x
EV / EBIT -15.6x -21.3x 68.3x 15.8x 23.5x 30.8x 18.5x 15.9x
EV / FCF -35.8x 55.2x 7.82x 7.75x 9.79x 9.5x 8.21x 7.76x
FCF Yield -2.79% 1.81% 12.8% 12.9% 10.2% 10.5% 12.2% 12.9%
Dividend per Share 2 - - - - 10 10 10.67 10.85
Rate of return - - - - 0.2% 0.23% 0.24% 0.25%
EPS 2 -150.9 -160 -7.93 211.6 187.7 81.6 206.6 236.3
Distribution rate - - - - 5.33% 12.3% 5.16% 4.59%
Net sales 1 1,46,406 2,59,309 5,44,465 6,89,043 8,08,029 8,63,736 9,92,463 11,22,784
EBITDA 1 2,669 8,590 64,954 1,63,176 1,80,583 1,76,181 2,37,843 2,73,944
EBIT 1 -47,131 -45,213 13,924 98,918 93,781 63,872 1,08,271 1,28,406
Net income 1 -58,064 -61,618 -3,058 81,725 72,584 29,288 80,311 90,997
Net Debt 1 1,06,733 1,86,512 2,14,565 1,89,883 2,30,721 2,73,650 3,13,919 3,51,577
Reference price 2 1,631.95 2,014.15 1,910.65 3,548.65 5,115.35 4,380.40 4,380.40 4,380.40
Nbr of stocks (in thousands) 3,84,864 3,85,255 3,85,547 3,85,979 3,86,423 3,86,613 - -
Announcement Date 05/06/21 25/05/22 18/05/23 23/05/24 21/05/25 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
55.32x2.21x10.85x0.24% 1.78TCr
8.37x0.82x5.64x1.26% 3.94TCr
12.34x1.59x6.53x1.83% 3.11TCr
7.23x0.77x5.25x-.--% 3.06TCr
5.84x0.7x3.06x3.14% 2.19TCr
1449.88x1.77x9.18x-.--% 1.68TCr
18.63x1.27x5.79x4.21% 1.6TCr
92.95x1.78x8.51x0.08% 1.52TCr
117.78x2x9.18x-.--% 1.47TCr
8.93x1.21x4.23x3.71% 1.36TCr
Average 177.73x 1.41x 6.82x 1.45% 2.17TCr
Weighted average by Cap. 138.25x 1.30x 6.52x 1.37%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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