Spicejet Share Price Target 2024, 2025, 2026, 2027, 2028, 2029, 2030 Fundamentals & Quarterly Results – SpiceJet Ltd (SpiceJet) is an Indian low-cost airlines operator. It provides passengers’ transportation by air and sea cargo delivery services. Several locations both in India and abroad are serviced by it daily. Its additional services contain flight bookings, online checking, etc. Besides limited liability insurance for local journeys, the firm offers discounted flight vouchers and rebates on internet shopping and ticket reservation outcomes to its clients.
Latest Update – In the first quarter ended June 2024, SpiceJet Ltd recorded a consolidated net profit decline of 20% at Rs 158 crore as compared to Rs 198 crore in the previous year.
Spicejet Overview
Contents
SpiceJet Ltd is committed air delivery services company carrying passengers and goods as its major business.
| Company Name | SpiceJet Ltd |
| Listed | NSE & BSE |
| Head Office | SpiceJet Ltd. 319, Udyog Vihar Phase IV Gurgaon- 122016. Haryana, India |
| Board Of Director |
|
| Official Website | spicejet.com |
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SpiceJet Business Profile
SpiceJet is a low-cost airline that mainly operates in India and it indeed runs the highest number of UDAN flights of all India airlines or companies. It does this while managing around 250 daily flights from 48 destinations in the country and others abroad. In its fleet there are Boeing 737 maxs, Boeing 700s, and Q400s.
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The business is fifth place in national airlines having about 5.5% of domestic market share for calender year 2023 while having 10.5% in calender year 2021 losing ground on other companies’ hence lost position three rank outcome being 5 rank instead this was as a result of approximately 40 % of the fleet which stood at 54 Aircrafts’ being grounded.
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Business Segment
Air Transport Services– In its primary essence, the segment forms the transportation of passengers and any related cargo that comes with the said operation.
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Freighter & Logistics Services– The air-cargo services it includes are offered under the brand name SpiceXpress, offering cargo connectivity across India as well as on international routes.
Sale of Cargo Business– On 23 March the business demerged its cargo and logistics unit SpiceXpress to SpiceXpress and Logistics at a valuation of Rs. 2,556 Cr. This means that SpiceXpress is currently carrying out cargo business starting from April 23.
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Airplanes Fleet-SpiceJet runs fleets which consist of both Q-400 as well as Boeing planes: 737-700s/ 737-800s along with 737-900ERs while the most recent inclusion being the B737- MAX 8 model planes with a total of 54 planes as at November, 2023. 21 airlines outof the 54 plane counts are other things not run because the lessees have not paid rents.
Fund Raising
The board approved, on 23 December, the issue of up to thirty-two crore equity shares and thirteen crore warrants at fifty rupees each for twenty-two fifty crore rupees respectively. It was already into this line by January twenty four and February twenty four that the company had issued nine crore fifty five lakh equity shares and eleven crore sixty four lakh warrants taking a total of one thousand sixty crore rupees heretofore.
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Latest Developments
Settlement for Q400– SpiceJet announced that a deal had been reached with Export Development Canada (EDC) through which it would take complete control over its fleet of 13 EDC-financed Q400s on March 24th. Furthermore, as part of an agreement made last year, it is soon set to take over a Q400 that Nordic Aviation Capital (NAC) had used as collateral.
Haj Operations– SpiceJet has successfully negotiated for lease agreement of two wide-body A340 airplanes which are meant to help in the upcoming pilgrimage (Hajj) season. These planes will be used at Srinagar as well as Guwahati airports. Additionally, the airline has acquired traffic rights for carrying out Hajj-related flights in seven additional Indian cities.
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New Aircraft Lease – SpiceJet earlier signed lease agreements for 10 planes as it gears up for the upcoming summer schedule following the resolution of a $49.8 million (Rs 413 Cr) disagreement with Echelon Ireland Madison One Ltd.
Spicejet Fundamentals & Quarterly Results
| Metric | Value |
|---|---|
| Market Cap | ₹ 4,378 Cr. |
| Current Price | ₹ 55.2 |
| High / Low | ₹ 77.5 / 26.5 |
| Stock P/E | – |
| Book Value | ₹ -82.8 |
| Dividend Yield | 0.00 % |
| ROCE | -36.6 % |
| ROE | – |
| Face Value | ₹ 10.0 |
| Debt to equity | – |
| Debt Capacity | -1.03 |
| Debt preceding year | ₹ 8,332 Cr. |
| Debt | ₹ 6,740 Cr. |
| Reserves | ₹ -6,350 Cr. |
| EPS | ₹ -1.55 |
| EPS last year | ₹ -25.1 |
| Pledged percentage | 38.8 % |
| FCF Prev Ann | ₹ 972 Cr. |
| EV/EBITDA | 9.25 |
| Industry PE | 26.0 |
| PEG Ratio | – |
| Piotroski score | 4.00 |
| Earnings yield | 2.97 % |
| Sales growth 5Years | 2.72 % |
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Spicejet Quarterly Results
| Metric | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,345 | 2,263 | 1,870 | 2,457 | 1,954 | 2,317 | 2,145 | 2,004 | 1,429 |
| Expenses | 1,647 | 2,146 | 2,188 | 2,847 | 2,510 | 2,363 | 2,160 | 1,738 | 1,872 |
| Operating Profit | -301 | 116 | -318 | -390 | -555 | -46 | -15 | 265 | -443 |
| OPM % | -22% | 5% | -17% | -16% | -28% | -2% | -1% | 13% | -31% |
| Other Income | 187 | 337 | 255 | 17 | 147 | 506 | 354 | 263 | 297 |
| Interest | 114 | 88 | 144 | 130 | 143 | 115 | 120 | 123 | 114 |
| Depreciation | 343 | 323 | 279 | 281 | 282 | 235 | 225 | 208 | 189 |
| Profit before tax | -571 | 42 | -485 | -784 | -833 | 110 | -6 | 198 | -449 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Profit | -571 | 42 | -485 | -784 | -833 | 110 | -6 | 198 | -449 |
| EPS in Rs | -9.49 | 0.71 | -8.06 | -13.02 | -13.85 | 1.84 | -0.10 | 3.28 | -6.56 |
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CAGR Report
| Compounded Sales Growth | |
| 10 Years | % |
| 5 Years | 3% |
| 3 Years | -10% |
| TTM | -8% |
| Compounded Profit Growth | |
| 10 Years | % |
| 5 Years | % |
| 3 Years | -29% |
| TTM | 93% |
| Stock Price CAGR | |
| 10 Years | 11% |
| 5 Years | -15% |
| 3 Years | -11% |
| 1 Year | 98% |
| Return on Equity | |
| 10 Years | % |
| 5 Years | % |
| 3 Years | % |
| Last Year | % |
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| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 60.25% | 60.03% | 60.00% | 59.93% | 59.81% | 59.40% | 58.98% | 48.27% |
| FIIs | 4.42% | 6.51% | 4.27% | 1.71% | 2.12% | 1.19% | 0.43% | 1.73% |
| DIIs | 3.64% | 5.22% | 7.74% | 10.66% | 3.66% | 0.03% | 0.01% | 5.30% |
| Public | 31.69% | 28.24% | 27.99% | 27.71% | 34.41% | 39.38% | 40.58% | 44.71% |
| 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 |
| Year | Initial Target |
|---|---|
| 2024 | ₹99.11 |
| 2025 | ₹200.40 |
| 2026 | ₹256.90 |
| 2027 | ₹309.20 |
| 2028 | ₹357.10 |
| 2029 | ₹411.89 |
| 2030 | ₹507.20 |
| Months | Target Prices |
| January | 147.10 |
| February | 152.40 |
| March | 156.20 |
| April | 160.60 |
| May | 165.35 |
| June | 169.10 |
| July | 173.20 |
| August | 179.90 |
| September | 183.15 |
| October | 189.70 |
| November | 193.10 |
| December | 200.40 |
| Months | Target Prices |
| January | 205.10 |
| February | 209.25 |
| March | 213.70 |
| April | 217.95 |
| May | 221.60 |
| June | 226.80 |
| July | 231.30 |
| August | 236.50 |
| September | 240.15 |
| October | 246.90 |
| November | 250.10 |
| December | 256.90 |
| Months | Target Prices |
| January | 261.60 |
| February | 264.65 |
| March | 268.70 |
| April | 274.95 |
| May | 279.70 |
| June | 284.80 |
| July | 290.00 |
| August | 294.30 |
| September | 297.35 |
| October | 302.40 |
| November | 305.40 |
| December | 309.20 |
| Months | Target Prices |
| January | 312.50 |
| February | 315.50 |
| March | 319.40 |
| April | 322.60 |
| May | 325.65 |
| June | 330.60 |
| July | 334.44 |
| August | 339.50 |
| September | 343.00 |
| October | 347.30 |
| November | 351.55 |
| December | 357.10 |
| Months | Target Prices |
| January | 358.23 |
| February | 358.23 |
| March | 378.56 |
| April | 379.52 |
| May | 382.56 |
| June | 388.65 |
| July | 389.32 |
| August | 390.03 |
| September | 391.56 |
| October | 395.56 |
| November | 405.65 |
| December | 411.89 |
| Months | Target Prices |
| January | 411.10 |
| February | 421.20 |
| March | 435.40 |
| April | 442.60 |
| May | 448.65 |
| June | 456.80 |
| July | 460.00 |
| August | 467.30 |
| September | 474.60 |
| October | 481.70 |
| November | 489.90 |
| December | 507.20 |
Official Website – spicejet.com