Buy InterGlobe Aviation; target of Rs 2347: Prabhudas Lilladher

Prabhudas Lilladher is bullish on InterGlobe Aviation has recommended buy rating on the stock with a target price of Rs 2347 in its research report dated March 27, 2023.

Broker Research

March 28, 2023 / 17:28 IST

Buy

26 Aug, 2025 12:21

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Prabhudas Lilladher's research report on InterGlobe Aviation

We attended the InterGlobe Aviation (IndiGo) analyst meet held in Gurgaon wherein management highlighted 1) plans to increase fleet size to 350 2) increase capacity/ASK by mid-teens 3) expand network to ~115 destinations 4) ferry 100mn passengers and 5) add 5,000+ employees in FY24E. Moreover, the company plans to increase international ASK share to 30% (23% as of 9MFY23) over next 2 years by adding more destinations. We believe IndiGo is well placed to strongly benefit from higher capacity deployment, network expansion in domestic as well as international markets, lower crude-prices and superior industry cost structure in the current environment.

Outlook

We marginally cut our EBITDAR estimates by 4%3% for FY24E/FY25E and retain ‘BUY’ on the stock with a TP of Rs2,347 (7x Dec-24E EV/EBITDAR; no change in target multiple).

For all recommendations report, click here