InterGlobe Aviation Limited (INDIGO) Fair Value & Analysis
Industrials · IN · Market cap ₹2.0T
Fair value as of: Jul 18, 2026
From 16 valuation models · updated 20 days ago
Fair value updated Jul 18, 2026, revised from ₹3,704 to ₹7,408 (+100.0%) since Jun 24, 2026. Share price −1.4% over the past month.
A solid business, screening 39% undervalued on our models.
What matters now
- The price is below even our cautious bear case (₹6,399). The market is more pessimistic than our downside scenario.
- Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.
How to read this chart
60‑month range ₹1,539 – ₹6,156 · fair‑value band ₹6,399 – ₹8,377 · the ₹5,319 price screens below the ₹7,408 fair value. Dashed = 300-day average. As of Jul 18, 2026.
Analysis
InterGlobe Aviation Limited (INDIGO) currently trades at ₹5,319, while our model-based Fair Value estimate is ₹7,408, implying the stock looks roughly 39.3% undervalued today. We read business quality at 51/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.
Over the trailing twelve months, InterGlobe Aviation Limited generated revenue of ₹847B at a net margin of 3.8%. Revenue grew 6.2% year over year. It earns a return on equity of 82.2%. Net debt stands at ₹537B. Fundamentals as of Jul 18, 2026
Our scenario range runs from ₹6,399 (bear case) to ₹8,377 (bull case); at ₹5,319, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 15% below its 52-week high and 37% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 45% fair-value upside, at 39%, INDIGO screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 16 models by family
Widest divergence: DCF Models (₹11,879) versus Asset-Based (₹120.79). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 52 · Market factors (momentum, volatility) 56
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
InterGlobe Aviation Limited, together with its subsidiaries, provides air transportation services under the IndiGo brand in India and internationally. The company offers pre-flight and post-flight ground handling operations; passenger and cargo services; and related allied services, such as in-flight sales, and other allied services at the airports.
Full company description
InterGlobe Aviation Limited, together with its subsidiaries, provides air transportation services under the IndiGo brand in India and internationally. The company offers pre-flight and post-flight ground handling operations; passenger and cargo services; and related allied services, such as in-flight sales, and other allied services at the airports. It also engages in aircraft and aircraft engine leasing, as well as related financial services. In addition, the company provides cargo transport; charter flights; hotel booking services through its website and mobile app; and cadet pilot program for pilot training. As of March 31, 2025, its fleet consisted of 434 aircraft. The company serves businesses, leisure travelers, students, and families. InterGlobe Aviation Limited was incorporated in 2004 and is based in Gurugram, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
InterGlobe Aviation Limited reported revenue of ₹850B in FY2026 versus ₹257B in FY2022, a compound +34.9%/yr. Reported net income was −₹23.9B in FY2026.
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Peer Group
Airlines · 60 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Airlines median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 20/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Airlines stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Delta Air Lines, Inc DAL | $84.17 | $118.24 | +40% |
| United Airlines Holdings UAL | $120.97 | $175.62 | +45% |
| Ryanair Holdings RYA | €25.47 | €41.26 | +62% |
| Southwest Airlines Co LUV | $47.56 | $14.76 | -69% |
| Singapore Airlines Limited C6L | 7.60 SGD | 7.89 SGD | +4% |
| Air China Limited 601111 | ¥5.97 | ¥7.16 | +20% |
| LATAM Airlines Group LTM | $54.87 | $106.79 | +95% |
| Deutsche Lufthansa AG 1LHA | €9.98 | €15.60 | +56% |
| China Southern Airlines Company 600029 | ¥4.99 | ¥1.28 | -74% |
| China Eastern Airlines Corporation 600115 | ¥3.66 | ¥14.20 | +288% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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