InterGlobe Aviation Limited — Annual Report 2025

May 21, 2025

IGAL/SECT/5-25/4

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May 21, 2025

To

National Stock Exchange of India Limited Exchange Plaza, C - 1, Block G Bandra Kurla Complex Bandra - (E), Mumbai - 400 051 Symbol: INDIGO

To BSE Limited Phiroze Jeejeebhoy Tower Dalal Street Mumbai - 400 001 Scrip Code: 539448

Subject: Compliances under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Regulations”)

Dear Sir/ Madam

The Board of Directors of the Company, in its meeting held on Wednesday, May 21, 2025, inter alia , considered and approved the following:

1. Audited standalone and consolidated Financial Results (“Financial Results”) for the quarter and financial year ended March 31, 2025.

In this regard, please find enclosed:

• i. Financial Results along with the Auditors’ Reports on the Financial Results.

• ii. Copies of Investor presentation and press release.

• iii. Declaration signed by Chief Financial Officer in respect of Audit Reports issued by Statutory Auditors with unmodified opinion.

• Recommendation of a dividend of INR 10/- (100%) per Equity share of the face value of INR 10/-, subject to approval of the shareholders of the Company at the ensuing Annual General Meeting (AGM). The payment of dividend will be completed within 30 days of declaration at the ensuing AGM.

• Convening of 22[nd] AGM of the Company on Wednesday, August 20, 2025.

• Pursuant to Regulation 42 of the Regulations, the Company has fixed the record date as August 13, 2025, for the purpose determining entitlement of the members for the final dividend (if declared at the ensuing AGM).

InterGlobe Aviation Limited

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Registered Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi – 110 001, India. M +91 9650098905, F + 91 11 43513200 Email: corporate@goindigo.in Corporate Office: Emaar Capital Tower-II, Sector-26, Sikanderpur Ghosi, MG Road, Gurugram-122022, Haryana, India. T +91 124 435 2500. CIN no.: L62100DL2004PLC129768

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1. Appointment of M/s. RMG & Associates, Company Secretaries (Firm Registration Number: FRN P2001DE016100) as the Secretarial Auditors of the Company for a term of five consecutive years commencing from FY26 till FY30, subject to the approval of the shareholders at the ensuing AGM of the Company.

The details as required in this regard are enclosed.

The Board Meeting commenced at 12:30 P.M. (IST) and concluded at 03:47 P.M. (IST)

The above is for your information and record.

Thanking you,

For InterGlobe Aviation Limited

Digitally signed NEERJA by NEERJA SHARMA SHARMA Date: 2025.05.21 16:06:09 +05'30'

Neerja Sharma Company Secretary and Chief Compliance Officer

Encl: a/a

InterGlobe Aviation Limited

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Registered Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi – 110 001, India. M +91 9650098905, F + 91 11 43513200 Email: corporate@goindigo.in Corporate Office: Emaar Capital Tower-II, Sector-26, Sikanderpur Ghosi, MG Road, Gurugram-122022, Haryana, India. T +91 124 435 2500. CIN no.: L62100DL2004PLC129768

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Annexure

Disclosures under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 read with SEBI Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024:

S. No.		Particulars		Details
1.		Reason for change viz. appointment, ~~re-appointment,~~ ~~resignation, removal, death or~~ ~~otherwise~~		Appointment
2.		Date of appointmen~~t/re-~~ ~~appointment/cessation~~ ~~(as~~ ~~applicable)~~ ~~&~~ ~~term~~ ~~of~~ ~~appointment/re-appointment~~		Appointment is for a period of five consecutive years commencing from FY26 till FY30, subject to the approval of the shareholders at the ensuing AGM.
3.		Brief profile (in case of appointment)		M/s RMG & Associates is a firm of Company Secretaries, established in the year 2001, based at New Delhi and having branch office at Gurgaon, Haryana and various affiliates across other metropolitan cities of India, with an experience of over two decades. M/s RMG & Associates, Company Secretaries has been quality reviewed by the Institute of Company Secretaries of India (ICSI), peer reviewed by the ICSI and is also an ISO 9001:2015 certified firm.
4.		Disclosure of relationships between directors (in case of appointment of a director)		Not applicable

InterGlobe Aviation Limited

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Registered Office: Upper Ground Floor, Thapar House, Gate No. 2, Western Wing, 124 Janpath, New Delhi – 110 001, India. M +91 9650098905, F + 91 11 43513200 Email: corporate@goindigo.in Corporate Office: Emaar Capital Tower-II, Sector-26, Sikanderpur Ghosi, MG Road, Gurugram-122022, Haryana, India. T +91 124 435 2500. CIN no.: L62100DL2004PLC129768

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InterGlobe Aviation Ltd Earnings Presentation Q4 FY25 & FY25

May 21, 2025

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1

Safe Harbor

This document may contain some statements on the Company’s business or financials which may be construed as forward looking. The actual results may be materially different from these forwardlooking statements. This document forms part of the quarterly earnings release and should be viewed together with the Earnings Press Release.

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Disclaimer: Effective this financial year, the company's financial results are reported rounded to the nearest whole number, without decimals. Prior-year figures have been adjusted to maintain consistency.

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FY’25 (change vs FY’24)
ASKs 157.5 bn +13.1%
IndiGo – Network presence
RPKs 135.4 bn +13.1%
Almaty
Closing Aircraft 434^ +67
Tashkent Domestic Destinations 91 +3
Tbilisi Baku
Istanbul
International Destinations 40 +7
Chengdu
Delhi Kathmandu
Bikaner
Guangzhou
Kuwait Kishangarh Hong Kong
Dammam
Bahrain
Ras Al Khaimah Dhaka
Riyadh Doha Sharjah
Madinah Abu Dhabi Dubai Muscat Kolkata
Jeddah
Hanoi
Mumbai
Hyderabad
Yangon
New destinations added during the year Bangkok
Bengaluru
Chennai
Existing domestic stations Puducherry
Metros Jaffna Phuket Krabi Ho Chi Minh City
Langkawi
International destinations Penang
Colombo
Kuala Lumpur
Other International destinations (Pre-covid) Maldives
Seychelles Singapore
Nairobi
^Includes 3 A321 freighters and 27 Damp leases (3 B777s, 14 A320s, 9 B737 & 1 B787)
Includes 3 International destinations (pre-covid) Jakarta
During FY25, provided services to 54 additional international
Denpasar
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^Includes 3 A321 freighters and 27 Damp leases (3 B777s, 14 A320s, 9 B737 & 1 B787) Includes 3 International destinations (pre-covid) *During FY25, provided services to 54 additional international destinations through strategic partnerships Mauritius

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Mauritius
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Note: The image is for reference purpose only

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Fleet Breakup

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31 [st] Mar, 2025 31 [st] Dec, 2024 31 [st] Mar, 2024
434 437 367
 62 Owned/Finance Lease  53 Owned/Finance Lease  31 Owned/Finance Lease
 345 Operating Lease  351 Operating Lease  323 Operating Lease
 27 Damp lease  33 Damp lease  13 Damp lease
Owned / Leased Owned / Leased Owned / Leased
 195 A320neo  199 A320neo  192 A320neo
 26 A320ceo  26 A320ceo  20 A320ceo
 135 A321neo  128 A321neo  94 A321neo
 48 ATR  48 ATR  45 ATR
 3 A321 freighter  3 A321 freighter  3 A321 freighter
Damp Leases Damp Leases Damp Leases
 3 B777 (1 standby)  2 B777  2 B777
 14 A320ceo (1 standby)  19 A320ceo (4 standby)  11 A320ceo (1 standby)
 9 B737  12 B737
 1 B787
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QUARTERLY HIGHLIGHTS : Q4FY25 vs Q4FY24

&

YEARLY HIGHLIGHTS : FY25 vs FY24

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Financial Summary

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Quarter Ended Year Ended
Particulars (in INR million) Favorable/ Favorable/
Mar’25 Mar’24 Mar’25 Mar’24
(Adverse) (Adverse)
ASK (billion) 42.1 34.8 21.0% 157.5 139.3 13.1%
Total income 230,975 185,051 24.8% 840,982 712,312 18.1%
RASK (INR) 5.26 5.13 2.5% 5.14 4.96 3.7%
Total expenses 199,281 167,341 (19.1%) 765,048 631,819 (21.1%)
CASK (INR) 4.51 4.62 2.5% 4.66 4.38 (6.4%)
CASK ex fuel (INR) 2.90 2.90 0.0% 3.00 2.66 (12.5%)
EBITDAR 69,482 44,123 57.5% 212,520 175,447 21.1%
EBITDAR Margin (%) 31.4% 24.8% 6.6 pts 26.3% 25.5% 0.8 pts
EBITDAR (ex-forex) [#] 68,618 45,775 49.9% 228,612 182,619 25.2%
EBITDAR Margin (ex-forex) [#] 31.0% 25.7% 5.3 pts 28.3% 26.5% 1.8 pts
PBT 31,694 17,710 79.0% 75,934 80,493 (5.7%)
PBT Margin (%) 14.3% 9.9% 4.4 pts 9.4% 11.7% (2.3 pts)
PAT 30,675 18,948 61.9% 72,584 81,725 (11.2%)
PAT Margin (%) 13.8% 10.6% 3.2 pts 9.0% 11.9% (2.9 pts)
PAT (ex-forex) [#] 29,811 20,600 44.7% 88,676 88,897 (0.2%)
PAT Margin (ex-forex) [#] 13.5% 11.6% 1.9 pts 11.0% 12.9% (1.9 pts)
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• 1) Net of finance income of INR 9,509 million and INR 6,470 million for quarter ended Mar’25 and Mar’24 respectively

• 2) Net of finance income of INR 31,119 million and INR 21,749 million for full year ended Mar’25 and Mar’24 respectively

• 1) Net of Forex loss, loss on forex hedging of INR 502 million and gain of INR 2 million for quarter ended Mar’25 and Mar’24 respectively

• 2) Net of Forex loss, gain on forex hedging of INR 87 million and INR 2 million for full year ended Mar’25 and Mar’24 respectively

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Revenue breakup

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Quarter Ended Year Ended
Particulars (in INR million) Favorable/ Favorable/
Mar’25 Mar’24 Mar’25 Mar’24
(Adverse) (Adverse)
Revenue from operations 221,519 178,253 24.3% 808,029 689,043 17.3%
Other income 9,456 6,798 39.1% 32,953 23,269 41.6%
Total income 230,975 185,051 24.8% 840,982 712,312 18.1%
ASK (billion) 42.1 34.8 21.0% 157.5 139.3 13.1%
RPK (billion) 36.8 30.0 22.5% 135.4 119.7 13.1%
Load factor (%) 87.4% 86.3% 1.1 pts 86.0% 85.9% 0.0 pts
Yield (INR) 5.32 5.19 2.4% 5.15 5.08 1.3%
RASK (INR) 5.26 5.13 2.5% 5.14 4.96 3.7%
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• 1) Net of finance income of INR 9,509 million and INR 6,470 million for quarter ended Mar’25 and Mar’24 respectively

• 2) Net of finance income of INR 31,119 million and INR 21,749 million for full year ended Mar’25 and Mar’24 respectively Note: The above operational metrics includes non-scheduled operations.

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Non-IndAS measures- RASK

	Particulars (in INR million) Total revenue Less: finance income Total revenue less finance income (A)		Quarter Ended Mar’25 Mar’24 230,975 185,051 9,509 6,470 221,466 178,581		Year Ended Mar’25 Mar’24 840,982 712,312 31,119 21,749 809,863 690,563
	ASK (millions) (B) RASK (INR) (C=A/B)		42,101 34,805 5.26 5.13		157,474 139,281 5.14 4.96

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Cost breakup

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Quarter Ended Year Ended
Particulars (in INR million) Favorable/ Favorable/
Mar’25 Mar’24 Mar’25 Mar’24
(Adverse) (Adverse)
Aircraft fuel expenses 67,530 59,791 (12.9%) 261,973 239,046 (9.6%)
Aircraft and engine rentals 8,641 3,860 (123.9%) 30,103 10,752 (180.0%)
Supplementary rentals and aircraft repair
30,126 27,587 (9.2%) 112,185 99,316 (13.0%)
and maintenance (net)
Airport fees and charges 15,635 11,863 (31.8%) 57,531 46,239 (24.4%)
Purchase of stock in trade 1,078 868 (24.2%) 3,834 3,369 (13.8%)
Changes in inventories of stock in trade (4) 2 300.0% (2) 54 103.7%
Employee costs 19,472 17,987 (8.3%) 74,725 64,618 (15.6%)
Finance costs 13,742 10,991 (25.0%) 50,800 41,694 (21.8%)
Depreciation and amortization expenses 24,914 18,033 (38.2%) 86,802 64,257 (35.1%)
Foreign exchange (gain)/ loss (net) (1,366) 1,654 182.6% 16,179 7,174 (125.5%)
Other expenses 19,513 14,705 (32.7%) 70,918 55,300 (28.2%)
Total expenses 199,281 167,341 (19.1%) 765,048 631,819 (21.1%)
CASK (INR) 4.51 4.62 2.5% 4.66 4.38 (6.4%)
CASK ex fuel (INR) 2.90 2.90 0.0% 3.00 2.66 (12.5%)
CASK ex fuel ex forex (INR) 2.94 2.86 (2.8%) 2.89 2.61 (10.8%)
Exchange Rate (US$/INR) 85.50 83.37 (2.6%) 85.50 83.37 (2.6%)
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• 1) Net of finance income of INR 9,509 million and INR 6,470 million for quarter ended Mar’25 and Mar’24 respectively

2) Net of finance income of INR 31,119 million and INR 21,749 million for full year ended Mar’25 and Mar’24 respectively

**Closing Exchange Rate for the quarter

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Non-IndAS measures- CASK

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Quarter Ended Year Ended
Particulars (in INR million)
Mar’25 Mar’24 Mar’25 Mar’24
Total expenses 199,281 167,341 765,048 631,819
Less: finance income 9,509 6,470 31,119 21,749
Total expense less finance income (A) 189,772 160,871 733,929 610,070
ASK (millions) (B) 42,101 34,805 157,474 139,281
CASK (INR) (C=A/B) 4.51 4.62 4.66 4.38
Fuel cost/ ASK (INR) (D) 1.60 1.72 1.66 1.72
CASK ex fuel (INR) (E=C-D) 2.90 2.90 3.00 2.66
Forex cost/ ASK (INR) (F) (0.03) 0.05 0.10 0.05
CASK ex fuel ex forex (INR) (G=E-F) 2.94 2.86 2.89 2.61
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Non-IndAS measures- EBITDAR

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Quarter Ended Year Ended
Particulars (in INR million)
Mar’25 Mar’24 Mar’25 Mar’24
PBT 31,694 17,710 75,934 80,493
Finance cost 13,742 10,991 50,800 41,694
Less: Finance income 9,509 6,470 31,119 21,749
Depreciation & amortization 24,914 18,033 86,802 64,257
Aircraft and engine rental 8,641 3,860 30,103 10,752
EBITDAR (A) 69,482 44,123 212,520 175,447
Forex (864) 1,652 16,092 7,172
EBITDAR ex-forex (B) 68,618 45,775 228,612 182,619
Revenue from Operations (C) 221,519 178,253 808,029 689,043
EBITDAR Margin (D=A/C) 31.4% 24.8% 26.3% 25.5%
EBITDAR Margin ex-Forex (E=B/C) 31.0% 25.7% 28.3% 26.5%
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• 1) including loss on forex hedging of INR 502 million and gain of INR 2 million for quarter ended Mar’25 and Mar’24 respectively

2) including gain on forex hedging of INR 87 million and INR 2 million for full year ended Mar’25 and Mar’24 respectively

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Cash and Debt

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Cash Debt
668,098
481,705
+30.3%
+38.7%
512,801 188,297
150,174 +141.7%
347,376
+7.9%
77,914
139,145
479,801
331,531 434,887
+10.3%
+59.2%
208,231
Mar-24 Mar-25 Mar-24 Mar-25
Free Cash Restricted Cash Total Cash Capitalized operating Debt excluding capitalized Total Debt
lease liability operating lease liability
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Financial performance indicators – Q4 FY25

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Total revenue (INR mn)
230,975
185,051
146,001
82,075
Q4FY22 Q4FY23 Q4FY24 Q4FY25
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Total expenses (INR mn)
199,281
167,341
136,803
98,850
Q4FY22 Q4FY23 Q4FY24 Q4FY25
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EBITDAR (INR mn) PAT (INR mn)
69,482
30,675
18,948
44,123
9,192
29,665
(16,818)
1,718
Q4FY22 Q4FY23 Q4FY24 Q4FY25
Q4FY22 Q4FY23 Q4FY24 Q4FY25
2.1% 20.9% 24.8% 31.4% (21.0%) 6.5% 10.6% 13.8%
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% Margin

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Financial performance indicators – FY25

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Total revenue (INR mn)
840,982
712,312
558,814
266,565
FY22 FY23 FY24 FY25
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Total expenses (INR mn)
765,048
631,819
561,858
328,102
FY22 FY23 FY24 FY25
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EBITDAR (INR mn) PAT (INR mn)
212,520 81,725
72,584
175,447
73,116
(3,058)
11,480
(61,618)
FY22 FY23 FY24 FY25
FY22 FY23 FY24 FY25
4.4% 13.4% 25.5% 26.3% (23.8%) (0.6%) 11.9% 9.0%
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% Margin

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Definitions and Abbreviations

Term	Description
ASK	Available Seat Kilometer
CASK	Total Cost net of finance income per Available Seat Kilometer
CASK ex fuel	Total Cost excluding fuel cost net of finance income per Available Seat Kilometer
CASK ex fuel ex forex	Total Cost excluding forex and fuel cost net of finance income per Available Seat Kilometer
EBITDAR	Earnings before finance income and cost, tax, depreciation, amortization and aircraft, engine rental
EBITDAR margin	EBITDAR / Revenue from Operations
Load Factor	Revenue Passenger Kilometer / Available Seat Kilometer
PAT margin	PAT / Revenue from Operations
RASK	Total Revenue net of finance income per Available Seat Kilometer
RPK	Revenue Passenger Kilometer
Yield	Passenger Ticket Revenue / Revenue Passenger Kilometer

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