# InterGlobe Aviation (IndiGo) (NSE: INDIGO) share analysis

Canonical: https://vestmind.in/stocks/interglobe-aviation-indigo  
Source: VestCall by Vestmind, price as of 14 October 2026.

> InterGlobe Aviation (IndiGo) (NSE: INDIGO) was trading at ₹4,807.8 on 14 October 2026. VestCall scores its business health 42/100 (weak). On valuation, the price sits in the “Valuation Premium” zone (₹4,608.23 and above) — above the modelled fair-value range. This is a reading of the evidence, not a buy or sell recommendation.

## Valuation zones

| Zone | Price band | Meaning |
| --- | --- | --- |
| Deeply Discounted | ₹4,057.79 – ₹4,390.15 | Furthest below the modelled fair-value range |
| Attractive Valuation | ₹4,390.15 – ₹4,440.16 | Below the modelled fair-value range |
| Fairly Valued | ₹4,440.16 – ₹4,608.23 | Inside the modelled fair-value range |
| Valuation Premium (current) | ₹4,608.23 and above | Above the modelled fair-value range |

## The case for and against

- Supports — Growth 79/100
- Supports — Shareholding Quality 79/100
- Supports — Financial Strength 69/100
- Needs proof — Capital Allocation 0/100
- Needs proof — Business Quality 5/100
- Needs proof — Management Stability 59/100

## Key ratios

| Ratio | InterGlobe Aviation (IndiGo) | Sector median |
| --- | --- | --- |
| P/B | 7.75x | — |
| P/S | 0.56x | — |
| Return on equity (ROE) | -37.1% | — |
| Return on capital employed (ROCE) | -30.4% | — |
| Operating margin | -2.2% | — |
| Net margin | -2.7% | — |
| Current ratio | 1.47x | — |

## Bull, base and bear case (model outputs, not forecasts)

| Scenario | Modelled CAGR | Weight | Assumption |
| --- | --- | --- | --- |
| Bear | +1.3% | 22% | Growth decelerates to 5.3% and the multiple de-rates toward the cohort's trough. |
| Base | +14.6% | 54% | Earnings compound near the measured 14.6% and the multiple drifts toward its quality-adjusted warranted level. |
| Bull | +23.9% | 24% | Growth holds at 20.4% and the market pays the full premium the measured quality supports. |

## Questions

### Is InterGlobe Aviation (IndiGo) overvalued or undervalued?

At ₹4,807.8, InterGlobe Aviation (IndiGo) sits in VestCall’s “Valuation Premium” zone (₹4,608.23 and above): above the modelled fair-value range. Its valuation scores 53/100 (fair) against Unclassified peers. Zones describe where the price sits against modelled value; they are not an instruction to buy or sell.

### Is InterGlobe Aviation (IndiGo) fundamentally strong?

VestCall scores InterGlobe Aviation (IndiGo)’s business health 42/100 (weak). The strongest measured pillars are growth and shareholding quality. The ones that need proof are capital allocation and business quality. Each pillar is computed from reported financials, and a pillar whose inputs were not reported is excluded rather than scored as zero.

### What are the risks of investing in InterGlobe Aviation (IndiGo)?

The review triggers VestCall watches for InterGlobe Aviation (IndiGo) are: return on equity falls below the quality floor (roe below 15%); revenue growth falls below the thesis floor (revenue cagr below 8%); promoter holding drops materially (promoter holding below 38.57%, 3 points under the Mar 2026 filing). On the fundamentals, capital allocation is the weakest measured pillar at 0/100. A trigger is a named condition that would change the reading, published so the case against the stock is as visible as the case for it.

### Is this a recommendation to buy or sell InterGlobe Aviation (IndiGo)?

No. VestCall states where InterGlobe Aviation (IndiGo)’s price sits against modelled value, what supports the case and what would break it, with every figure sourced. It does not issue buy, sell or hold calls or price targets. Vestmind is not a SEBI-registered investment adviser or research analyst, and nothing on this page is personalised investment advice.

---

Vestmind is not a SEBI-registered investment adviser or research analyst. This is research for information, not a recommendation or personalised investment advice.