Balance Sheets: Interglobe Aviation Limited

BALANCE SHEETS
InterGlobe Aviation Limited
I. Assets
Non-current assets
a. Property, plant and equipment
b. Capital work-in-progress
c. Intangible assets
d. Intangible assets under development
e. Financial assets
(i) Investments
(ii) Loans
(iii) Other financial assets
f. Income tax assets (net)
g. Other non-current assets
Total non-current assets (A)
Current assets
a. Inventories
b. Financial assets
(i) Investments
(ii) Trade receivables
(iii) Cash and cash equivalents
(iv) Bank balances other than cash and cash equivalents, above
(v) Loans
(vi) Other financial assets
c. Other current assets
Total current assets (B)
Total Assets (A+B)
II. Equity and Liabilities

Equity
a. Equity share capital
b. Other equity
Total equity (C)
Liabilities
Non-current liabilities
a. Financial liabilities
(i) Borrowings
(ii) Other financial liabilities
b. Provisions
c. Deferred tax liabilities (net)
d. Other non-current liabilities
e. Deferred incentives
Total non-current liabilities
Current liabilities
(i) Trade payables
- total outstanding dues of micro enterprises and small enterprises
-total outstanding dues of creditors other than micro enterprises and small enterprises
Total Trade Payable
b. Provisions
c. Current tax liabilities (net)
d. Other current liabilities
Total current liabilities
Total Liabilities (D)
Total Equity and Liabilities (C+D)
Rs. in Crores
2016 2017 2018 2019
4727 3747 4535 5632

24 23 29 22
20 46 44 30
8 2 3 2
0.03 0.03 0.13 0.13

422 544 683 584
1498 1036 820 199
19 10 39 124
293 355 345 316
7011 5763 6498 6908
76 163 183 211
986 3713 6344 6517

157 159 226 362
805 153 671 713
2913 4479 5910 7894
9 4 191 467
309 410 458 793
351 365 648 1147
5608 9446 14631 18103
12619 15210 21129 25012
360 361 384 384

2363 3418 6693 6560
2723 3779 7077 6945
3007 2396 2241 2194
1786 2269 2996 3388
86 122 197 274
147 162 370 64
11 8 67 35
1178 1690 2058 4114
6215 6646 7929 10069
741 775 - -
- - 2 5
- - 998 1450
741 775 1000 1455
830 1432 1547 2123
57 67 103 164
9 45 13 3
1638 1973 2916 3179
405 494 544 1074
3680 4785 6123 7998
9896 11431 14052 18067
12619 15210 21129 25012
SpiceJet Ltd.
I. Assets
Non-Current Assets
a.Property, Plant and Equipment (‘PPE’)
b.Intangible assets
c.Investments in subsidiaries
d.Financial Assets
(i) Investments
(ii) Loans
(iii) Other Financial Assets
Non-current tax assets
e.Other non-current assets
Current assets
a.Inventories
b.Financial Assets
(i) Investments
(ii) Trade Receivables
(iii) Other Receivables
(iv) Cash and Cash Equivalents
(v) Bank Balances other than (iv) above
(vi)Other Financial Assets
Other current assets
Total Assets (A+B)

Equity
a.Equity Share Capital
b.Other Equity
(i) Retained Earnings
(ii) Securities Premium Account
(iii) Other reserves
Total equity (C)
Liabilities
a.Financial Liabilities
(i) Borrowings
(ii) Trade Payables
-total outstanding dues of creditors other than micro enterprises and small enterpr
Total Trade Payables
b.Long-term Provisions
c.Other non-current liabilities
Current Liabilities
(i) Borrowings
(ii) Trade Payables
(iii) Other current financial liabilities
b.Short-term Provisions
c.Other Current Liabilities
Rs. in Crores
2016 2017 2018 2019
1627 1619 1594 1591

1 1 4 13
- 0 0 0
- 0.023 0.024 0.024

- 19 50 33
334 292 883 1134
29 21 29 34
175 213 549 627
2166 2164 3109 3433
67 87 124 137
20 140 101 0
43 62 85 135
- - 71 579
76 29 119 65
30 172 27 13
164 180 116 103
280 157 279 329
680 826 922 1362
2847 2991 4032 4795
599 599 599 600

-1638 -1209
- - -1636 -1954
- - 986 990
- - 7 13
-1039 -609 -43 -351
921 776 651 557

54 21
- - - -
- - 15 8
54 21 15 8
263 290 250 429
22 46 62 530
1260 1133 978 1523
105 252 357 418

721 585
- - - 19
- - 688 1032
721 585 688 1051
224 154 318 162
368 142 225 279
1207 1335 1508 1712
2625 2467 3097 3623
3886 3600 4075 5146
2847 2991 4032 4795
PROFIT & LOSS STATEMENTS
Income
Revenue from operations
Other income
Total income
Expenses
Aircraft fuel expenses
Aircraft and engine rentals (net) (Refer to Note 27)
Purchase of stock-in-trade
Changes in inventories of stock-in-trade
Employee benefits expense
Finance costs
Depreciation and amortisation expense
Foreign exchange loss (net)
Other expenses
Total expenses
Earnings before interest, tax, depreciation and amortization (EBITDA)

Finance costs
Depreciation, Amortisation
Profit before Tax
Tax expense
Current tax
Deferred tax (credit) / charge
Total tax expense
Profit for the year
Other comprehensive income

Items that will not be reclassified to profit or loss
- Remeasurements of defined benefit plans
- Income tax relating to above mentioned item
Other comprehensive income for the year, net of tax
Total comprehensive income for the year
Earnings per equity share of face value of Rs. 10 each

Basic (Rs.)
Diluted (Rs.)
EBIT
EBIT
Pssengers
Departures
Rs. in Crores
2016 2017 2018 2019
16140 18581 23021 28497

515 789 947 1325
16655 19370 23968 29822
4779 6342 7760 11943

2507 3125 3610 4999
115 124 124 140
-1 0 1 -1
1788 2048 2455 3138
304 331 340 509
505 457 437 760
- - 52 467
3834 4799 6062 8016
13832 17225 20841 29971
2824 2144 3127 -149

135 331 340 509
503 457 437 760
2186 1356 2350 -1418
730 491 669 -

107 -6 215 -305
837 485 884 -305
1348 1659 2242 156

-2 -3 0 0
1 1 0 0
-1 -2 0 0
1347 1657 2243 156
5.806 4.594 6.003 0.406

5.639 4.585 5.99 0.406
2321 1687 2690 -909
2964 2475 3466 360

60,038,171
448,904
SpiceJet Ltd.
Income
Other income
Total Revenue
Expenses
Operating expenses
ATF
Lease charges-aircraft,engines and auxilary power units
Supplemental lease charges - aircraft,engines and auxilary power unit
Aircraft repair and maintenance
Landing, navigation and other airport charges
All other operating expense
Cost of inventary consumed
Sales and marketing expenses
Other expenses
Total Expenses
Depreciation and amortization expense

Finance Income
Finance costs
Profit/ (Loss) for the year before exceptional items
Exceptional items
Profit/ (Loss) Before tax
Income Tax Expense
- Current Tax
- Deferred Tax
Total tax expense
Profit/ (Loss) for the year
Other Comprehensive Income:

Other comprehensive income not to be reclassified to profit or loss in subsequent periods:
Remeasurement gains and (losses) on defined benefit obligations (net)
Income tax impact
Other comprehensive loss for the year
Earnings per Equity Share of INR 10 each

Earnings per share
- Basic earnings per share
- Diluted earnings per share
EBIT
Pssengers
Departures
Rs. in Crores
2016 2017 2018 2019
5088 6191 7756 9113

131 80 80 58
5219 6271 7835 9172
1392 1855 2433 3445

811 961 1032 1297
316 491 469 608
384 295 633 783
420 553 661 752
271 277 317 410
0 0 3 14
492 674 863 1057
164 209 189 207
300 333 402 559
4550 5647 7001 9132
669 624 834 39
-180 -199 -231 -256

21 32 53 86
-124 -65 -92 -131
386 393 564 -262
64 39 - -63
450 431 564 -325
- - - -
- - - -
- - - -
450 431 564 -325
nt periods:
-1 -2 0 -1
- - - -
-1 -2 0 -1
449 429 564 -326
1 1 1 -1
1 1 1 -1
489 425 603 -217
16130815 17655832
156812
Cash Flow Statements
A.
B.
C.
D.
E.
Cash Flow Statements
InterGlobe Aviation Ltd
Cash flows from operating activities

Profit/ (loss) before tax
Adjustments for:
Redelivery and overhaul cost
Liabilities no longer required written back
Provision for obsolescence of inventories
Profit/ Loss on sale of property, plant and equipment (net)
Non cash incentives, claims and credits (net)
Interest accretion on provisions and other financial liabilities measured at amortised cost
Deferred rent amortisation (included in aircraft and engine rentals (net))
Property, plant and equipment written off
Advance write off
Unrealised foreign exchange loss (net)
Interest on borrowings measured at amortised cost
Finance lease charges on finance lease obligations measured at amortised cost
Employee stock option scheme expense (included in salaries, wages and bonus)
Interest income from bank deposits
Interest income from financial assets at amortised cost
Marked to market gain on current investments
Net gain on sale of current investments
Bad debts written off
Impairment loss on trade receivables
Impact of Ind AS 115 - Revenue from contract with customers (Refer to Note 18)
Operating profit before working capital changes
Adjustments for:
Increase in trade receivables
Increase/Decrease in inventories
Increase in loans, other financial assets, and other assets
Increase in trade payables, other financial liabilities, other liabilities and provisions
Increase/(decrease) in deferred incentives
Cash generated from operating activities
Income tax paid
Net cash generated from operating activities
Cash flows from investing activities

Purchase of property, plant and equipment and intangible assets (including capital advances
Proceeds from sale of property, plant and equipment
Deposits made with banks due to mature within 12 months from the reporting date (net)
Refer to Note 12 [deposits under lien Rs. 39,471.53 (31 March 2016 : Rs. 24,961.08)]
Deposits made with banks due to mature after 12 months from the reporting date (net)
Refer to Note 7 [deposits under lien Rs. 9,633.84 (31 March 2016 : Rs. 12,883.85)]
Investment in deposits (Refer to Note 7, 11 and 12)
Proceeds from maturity of deposits (Refer to Note 7, 11 and 12)
Investment in subsidiary
Purchase of mutual funds / shares / fixed rate non-convertible debentures (Refer to Note 5)
Proceeds from sale of mutual funds / shares (Refer to Note 5)
Interest received
Net cash used in investing activities
Cash flows from financing activities
Proceeds from secured loans (Refer to Note 3 below)

Repayment of secured loans (Refer to Note 3 below)
Interest paid
Finance lease charges paid
Proceeds from Institutional Placement Programme (Refer to Note 13.i.)
Proceeds from public issue of shares
Proceeds from issue of shares on exercise of stock options
Securities premium received on account of issue of shares (net of share issue expenses)
Final dividend paid
Corporate dividend tax paid
Net cash generated from/(used in) financing activities
Net (decrease)/increase in cash and cash equivalents during the year (A+B+C)
Effect of exchange rate changes on cash and cash equivalents held in foreign currency
Cash and cash equivalents at the beginning of the year

Cash on hand
Cheques on hand
Balance with banks
-On current accounts
-On deposit accounts (with original maturity of three months or less)
Cash and cash equivalents at the end of the year

Cash on hand
Balance with banks
-On current accounts
-On deposit accounts (with original maturity of three months or less)
Rs. in Crores
2016 2017
2824 2144
505 457
6 29
-7 -41
1 -
0 -2
5 -215
151 167
45 54
0 5
0 1
111 -86
14 18
120 130
68 50
-369 -391
-44 -49
-12 -55
-35 -122
- -
- -
- -
3384 2093
-53 -2
17 -87
-392 -243
916 1734
-181 712
3692 4206
-576 -424
3116 3782
-249 -237
0 613
-1161 -1566
158 357
- -
- -
- 0
-5939 -12673
5519 10123
329 346
-1343 -3038
84 68
-1108 -753
-12 -17
-70 -48
- -
17 -
- 1
1197 -
-1103 -542
-224 -110
-1220 -1401
553 -657
6 5
2 3
- 0
210 266
35 536
247 805
3 4
266 149
536 -
805 153
2018 2019
3127 -149
437 760
66 31
-25 -26
0 0
-81 -259
228 350
65 69
5 7
- 0
10 355
22 32
87 112
27 -13
-401 -434
-59 -76
-171 -223
-206 -162
- 1
- 1
- 2
3131 376
-67 -141
-20 -28
-778 -927
1955 1397
420 2577
4641 3255
-738 -95
3903 3160
-1220 -1712
0 5
- -
- -
-7715 -11013
6498 9471
0 -
-15772 -15008
13519 15220
531 501
-4160 -2536
45 48
-233 -256
-21 -29
-53 -77
22 -
- -
1 -
2485 -
-1230 -231
-250 -47
766 -592
509 32
10 10
4 3
- -
149 551
- 117
153 671
3 49
551 5437
117 1642
671 7128
A.
B.
C.
D.
E.
SpiceJet Ltd.
Cash flow from operating activities

Profit/ (Loss) before tax and exceptional items
Adjustments to reconcile profit before tax and exceptional items to net cash flows:
Depreciation and Amortisation expense
Provision for doubtful claims/ advances
Loss/ (profit) on disposal of PPE (net)/ assets written off
Provision for litigations
Advances/ debts written off
Share-based payment expense
Provision for aircraft maintenance
Provision for aircraft redelivery
Provision for capital advance written back
Liabilities/ provision no longer required written back
Profit on sale of aircraft and engines under sale and lease-back arrangement
Net (Gain)/Loss on financial assets measured at fair value through profit or loss (‘FVTPL')
Finance income
Finance costs
Translation loss/ (gain) on monetary assets and liabilities
Operating profit before working capital changes
Movements in working capital :

(Increase)/ Decrease in trade receivables
(Increase)/ Decrease in inventories
(Increase)/ Decrease in other financial assets
(Increase)/ Decrease in other assets
Increase/ (Decrease) in trade payables
Increase/ (Decrease) in other financial liabilities
Increase/ (Decrease) in other liabilities
Increase/ (Decrease) in provisions
Cash generated from operations
Income taxes received/ (paid) (net of refunds)
Net cash flow generated from operating activities before exceptional items
Cash inflow from exceptional items
Net cash flow from/ (used in) operating activities (A)
Cash flows from investing activities

Purchase of PPE and capital work in progress (including capital advances)
Proceeds from sale of PPE
Investment in subsidiary
Proceeds from issue of shares on exercise of stock options
Proceeds from sale of investments

Purchase of Investments
Investments in bank deposits
Deposit with Delhi High Court
Margin money deposits placed
Margin money deposits withdrawn
Finance income
Net cash from/ (used in) investing activities (B)
Cash flow from financing activities

Adavance money received towards subscription of non-convertible cumulative
redeemable preference shares ('CRPS')
Loans to subsidiary
Proceeds from short-term borrowings
Repayment of short-term borrowings
Proceeds from long-term borrowings
Repayment of long-term borrowings
Finance costs
Net cash (used in)/ from financing activities (C)
Net increase/ (decrease) in cash and cash equivalents (A+B+C)

Effects of exchange difference on cash and cash equivalents held in foreign currency
Cash and cash equivalents at the beginning of the year

Cash and cash equivalents at the end of the year
Notes:
Components of cash and cash equivalents
On current accounts
On deposit accounts
Cash on hand
Total cash and cash equivalents
Rs. in Crores
2016 2017 2018
386 392 567
180 199 231

4 - 10
6 1 5
- 8 -
7 8 4
- - 1
261 180 416
12 12 10
-5 - -
-112 -52 -49
- -2 -5
0 -3 3
-21 -32 -53
124 65 92
18 -50 12
859 725 1245
85 -18 -25
-21 -20 -37
-46 34 -132
-10 -43 -206
-55 -79 -270
-133 -28 162
50 154 193
-184 -403 124
544 322 1054
0 8 -8
544 330 1046
167 166 -
711 496 1046
-158 -249 -258

0 0 2
- 0 0
- - -
- - 36
-20 -116 -
-30 -142 21
- - -245
-107 -122 -632
16 121 237
25 26 33
-275 -482 -805
50 - -
- -19 -31
- 147 105
-15 - -
2 - -
-270 -126 -125
-145 -65 -90
-379 -62 -140
58 -48 100
0 1 0
18 76 19
76 29 119
72 15 111
1 12 6
3 2 2
76 29 119
2019
-253
256
24
2
1
23
9
540
27
-
-37
-24
1
-86
131
53
667
-565
-13
-110
-140
-174
-154
634
203
348
-5
343
-
343
-242
0
-
100
-
14
-11
-575
441
85
-186
-
-4
64
-
-
-136
-134
-209
-53
-1
119
65
59
2
4
65
Accountin
Ratios
Profitablity Ratios
EBITDA Margin
Net Profit Margin
EBIT Margin
Net Profit Ratio
EBITDAR Margin
Return Ratios
Return on Equity
Return on Capital Employed
Return on Assests
Capital Structure Ratios

Debt to Equity Ratios
Interest Coverage Ratios
Turnover Ratios
Fixed Assest Turnover Ratio
Inventory Turnover Ratio
Receivable Turnover Ratio
Payable Turnover Ratio
Assest Turover Ratio
Days
Inventory days
Receivable days
Payable days
Cash Conversion cycle
Liquidty Ratios
Current Ratio
Quick Ratio
Net Working Capital ratio
Business ratio
Revenue per passenger
Cost per departure
Passenger needen for breakeven
Accounting Ratios
Formulas 2016-17 2017-18 2018-19
EBITDA/Sales 17% 12% 14%

Net Profit/Sales 8% 9% 10%
EBIT/Sales 14% 9% 12%
Net Profit/Net Sales * 100
EBITDAR/Sales 17% 12% 14%
Net Profit/Total Equity 49% 44% 32%

EBIT/(Equity+Debt) 85% 45% 38%
EBIT/Total Assests 18% 11% 13%
Debt/Equity 1.10 0.63 0.32

EBIT/Finance cost 17.19 5.10 7.91
Sales/Fixed assest 3.38 4.87 4.99

Sales/Inventory 211.58 113.89 125.64
Sales/Trade Receivables 102.73 117.08 101.72
Sales/Trade Payables 21.77 23.99 23.02
Sales/Total Assests 1.28 1.22 1.09
365/Inventory Turnover ratio 1.73 3.20 2.91

365/Receivable Turover ratio 3.55 3.12 3.59
365/Payable Turover ratio 16.76 15.22 15.86
Inventory days+ Receivable days- payable days -11.48 -8.89 -9.36
Current Assets/Current Liabilities 1.52 1.97 2.39

Liquid Assets/Current liabilities 1.50 1.94 2.36
(Current Assets - Current Liabilities)/Total Assets 0.15 0.31 0.40
Revenue from operation/Total no. of passenger

Total expenses/ Total no. of departures
Cost per departure/Revenue per passenger
2019-20 2016-17 2017-18 2018-19 2019-20
-1% 13% 10% 11% 0%

1% 9% 7% 7% -4%
-3% 10% 7% 8% -2%
-1% 35% 34% 30% 21%
2% -43% -71% -1312% 93%

#VALUE! -414% 255% 99% -105%
-4% 17% 14% 15% -5%
0.32 -0.89 -1.27 -15.15 -1.59

-1.79 -3.95 -6.54 -6.54 1.65
5.01 3.13 3.82 4.85 5.68

134.77 76.46 71.17 62.36 66.36
78.62 117.31 100.23 91.04 67.34
19.58 7.06 10.59 11.27 8.67
1.14 1.79 2.07 1.92 1.90
2.71 4.77 5.13 5.85 5.50

4.64 3.11 3.64 4.01 5.42
18.64 51.72 34.46 32.39 42.11
-11.29 -43.84 -25.69 -22.53 -31.19
2.26 0.26 0.33 0.30 0.38

2.24 0.23 0.30 0.26 0.34
0.40 -0.68 -0.55 -0.54 -0.47
4746 5162
667643 582359
141 113
Ratios
NET PROFIT RATIO
ASSEST TURONVER
EQUITY MULTIPLIER
DU PONT ANALYSIS
Formulas 2016 2017 2018 2019
Net Profit/Net Sales * 100 8% 9% 10% 1%
Net sales/average total assest 128% 122% 109% 114%
Total assest/ Equity 463% 402% 299% 360%
0.49 0.44 0.32 0.02
EQUITY MULTIPLIER 2016 2017 2018 2019

TOTAL ASSEST 12619 15210 21129 25012
EQUITY 14635 17227 23147 27031
Ratio 0.86 0.88 0.91 0.93
ONT ANALYSIS
2016 2017 2018 2019
9% 7% 7% -4%
179% 207% 192% 190%
-274% -491% -9383% -1367%
-0.43 -0.71 -13.12 0.93
2016 2017 2018 2019

2847 2991 4032 4795
4860 5002 5943 6801
0.59 0.60 0.68 0.71
Rs. in Crores
2016 2017
I. Assets
Non-current assets
a. Property, plant and equipment 4727 3747
b. Capital work-in-progress 24 23
c. Intangible assets 20 46
d. Intangible assets under development 8 2
e. Financial assets
(i) Investments 0.03 0.03
(ii) Loans 422 544
(iii) Other financial assets 1498 1036
f. Income tax assets (net) 19 10
g. Other non-current assets 293 355
Total non-current assets (A) 7011 5763
Current assets
a. Inventories 76 163
b. Financial assets
(i) Investments 986 3713
(ii) Trade receivables 157 159
(iii) Cash and cash equivalents 805 153
(iv) Bank balances other than cash and ca 2913 4479
(v) Loans 9 4
(vi) Other financial assets 309 410
c. Other current assets 351 365
Total current assets (B) 5608 9446
Total Assets (A+B) 12619 15210

Equity
a. Equity share capital 360 361
b. Other equity 2363 3418
Total equity (C) 2723 3779
Liabilities
(i) Borrowings 3007 2396
(ii) Other financial liabilities 1786 2269
b. Provisions 86 122
c. Deferred tax liabilities (net) 147 162
d. Other non-current liabilities 11 8
e. Deferred incentives 1178 1690
Total non-current liabilities 6215 6646
Current liabilities
(i) Trade payables 741 775
- total outstanding dues of micro enterprises and small
- -
-total outstanding dues of creditors other than - -
Total Trade Payable 741 775
b. Provisions 57 67
c. Current tax liabilities (net) 9 45
d. Other current liabilities 1638 1973
Total current liabilities 3680 4785
Total Liabilities (D) 9896 11431
Total Equity and Liabilities (C+D) 12619 15210
Rs. in Crores
2016 2017
I. Assets
Non-current assets
a. Property, plant and equipment 100 79
b. Capital work-in-progress 100 98
c. Intangible assets 100 232
d. Intangible assets under development 100 23
e. Financial assets
(ii) Loans 100 129
(iii) Other financial assets 100 69
f. Income tax assets (net) 100 52
g. Other non-current assets 100 121
Total non-current assets (A) 900 740
Current assets
a. Inventories 100 214
b. Financial assets
(ii) Trade receivables 100 101
(iii) Cash and cash equivalents 100 19
(iv) Bank balances other than cash and

cash equivalents, above 100 154
(v) Loans 100 44
(vi) Other financial assets 100 133
c. Other current assets 100 104
Total current assets (B) 800 1348
Total Assets (A+B) 1700 2049

Equity 100
a. Equity share capital 100 100
b. Other equity 100 145
Total equity (C) 300 416
Liabilities
Non-current liabilities 100
(i) Borrowings 100 80
c. Deferred tax liabilities (net) 100 110
d. Other non-current liabilities 100 70
Total non-current liabilities 700 749
Current liabilities
(i) Trade payables
- total outstanding dues of micro
enterprises and small enterprises 100
-total outstanding dues of creditors other than

micro enterprises and small enterprises 100
Total Trade Payable 200 209
c. Current tax liabilities (net) 100 498
d. Other current liabilities 100 120
Total current liabilities 700 910
Total Liabilities (D) 1400 1617
Total Equity and Liabilities (C+D) 1700 2049
s. in Crores
2018 2019
4535 5632
29 22
44 30
3 2
0.13 0.13
683 584
820 199
39 124
345 316
6498 6908
183 211
6344 6517
226 362
671 713
5910 7894
191 467
458 793
648 1147
14631 18103
21129 25012
384 384
6693 6560
7077 6945
2241 2194
2996 3388
197 274
370 64
67 35
2058 4114
7929 10069
- -
2 5
998 1450
1000 1455
1547 2123
103 164
13 3
2916 3179
544 1074
6123 7998
14052 18067
21129 25012
s. in Crores
2018 2019
121 124
126 75
95 69
163 53
454 98
126 85
79 24
396 321
97 92
1015 957
112 115
171 103
143 160
438 106
132 134
4816 244
112 173
178 177
1239 990
2362 2012
106 100
196 98
562 294
94 98
132 113
161 139
228 17
899 51
122 200
835 889
262
145
258 291
108 137
155 158
29 26
148 109
110 197
896 914
1721 1800
2362 2012
Rs. in Crores
SpiceJet Ltd.
2016 2017 2018 2019
I. Assets
Non-Current Assets
a.Property, Plant and Equipment (‘PPE’) 1627 1619 1594 1591
b.Intangible assets 1 1 4 13
c.Investments in subsidiaries - 0.02 0.03 0.03
d.Financial Assets
(i) Investments - 0.023 0.024 0.024
(ii) Loans - 19 50 33
(iii) Other Financial Assets 334 292 883 1134
Non-current tax assets 29 21 29 34
e.Other non-current assets 175 213 549 627
Total non-current assets (A) 2166 2164 3109 3433
Current assets
a.Inventories 67 87 124 137
b.Financial Assets
(i) Investments 20 140 101 0
(ii) Trade Receivables 43 62 85 135
(iii) Other Receivables - - 71 579
(iv) Cash and Cash Equivalents 76 29 119 65
(v) Bank Balances other than (iv) above 30 172 27 13
(vi)Other Financial Assets 164 180 116 103
Other current assets 280 157 279 329
Total current assets (B) 680 826 922 1362
Total Assets (A+B) 2847 2991 4032 4795

Equity
a.Equity Share Capital 599 599 599 600
b.Other Equity 1638 -1209
(i) Retained Earnings - - -1636 -1954
(ii) Securities Premium Account - - 986 990
(iii) Other reserves - - 7 13
Total equity (C) -1039 -609 -43 -351
Liabilities
(i) Borrowings 921 776 651 557
(ii) Trade Payables 54 21
- - - -
-total outstanding dues of creditors other than micro ente - - 15 8
Total Trade Payeable 54 21 15 8
b.Long-term Provisions 263 290 250 429
c.Other non-current liabilities 22 46 62 530
Total non-current liabilities 1260 1133 978 1523
Current Liabilities
(i) Borrowings 105 252 357 418
(ii) Trade Payables 721 585
- - - 19
-total outstanding dues of creditors other than micro ente - - 688 1032
Total Trade Payable 721 585 688 1051
(iii) Other current financial liabilities 224 154 318 162
b.Short-term Provisions 368 142 225 279
c.Other Current Liabilities 1207 1335 1508 1712
Total current liabilities 2625 2467 3097 3623
Total Liabilities (D) 3886 3600 4075 5146
Total Equity and Liabilities (C+D) 2847 2991 4032 4795
Trend Analysis
Rs. in Crores
SpiceJet Ltd.
2016 2017 2018 2019
I. Assets
Non-Current Assets
a.Property, Plant and Equipment (‘PPE’) 100 100 98 100
b.Intangible assets 100 89 448 319
c.Investments in subsidiaries 100 150 100
d.Financial Assets
(i) Investments 100 104 100
(ii) Loans 100 261 67
(iii) Other Financial Assets 100 87 303 128
Non-current tax assets 100 72 137 118
e.Other non-current assets 100 121 258 114
Total non-current assets (A) 800 799 1149 883
Current assets
a.Inventories 100 131 143 110
b.Financial Assets
(i) Investments 100 683 72 0
(ii) Trade Receivables 100 142 138 159
(iii) Other Receivables 100 814
(iv) Cash and Cash Equivalents 100 38 410 55

(v) Bank Balances other than (iv) above 100 574 16 48
(vi)Other Financial Assets 100 109 65 89
Other current assets 100 56 178 118
Total current assets (B) 800 972 893 1181
Total Assets (A+B) 1600 1681 2157 1903

Equity
a.Equity Share Capital 100 100 100 100
b.Other Equity 100 -74 0
(i) Retained Earnings 100 119
(ii) Securities Premium Account 100 100
(iii) Other reserves 100 181
Total equity (C) 500 293 35 4081
Liabilities
(i) Borrowings 100 84 84 86
(ii) Trade Payables 100 39 0
-
-total outstanding dues of creditors other than micro ente -
Total Trade Payeable 100 39 72 52
b.Long-term Provisions 100 110 86 172
c.Other non-current liabilities 100 210 134 859
Total non-current liabilities 400 360 345 623
Current Liabilities
(i) Borrowings 100 240 142 117
(ii) Trade Payables 100 81 0
100
-total outstanding dues of creditors other than micro ente 100 150
Total Trade Payable 300 243 353 458
(iii) Other current financial liabilities 100 69 207 51
b.Short-term Provisions 100 38 159 124
c.Other Current Liabilities 100 111 113 114
Total current liabilities 700 658 879 819
Total Liabilities (D) 1100 1019 1245 1389
Total Equity and Liabilities (C+D) 1600 1681 2157 1903
I. Assets
Non-current assets
e. Financial assets
(i) Investments
(ii) Loans
Current assets
a. Inventories
b. Financial assets
(i) Investments
(v) Loans
Total Assets (A+B)

Equity
b. Other equity
Total equity (C)
Liabilities
(i) Borrowings
b. Provisions
Current liabilities
(i) Trade payables
b. Provisions
Income
Other income
Total income
Expenses
Finance costs
Other expenses
Total expenses

Finance costs
Profit before Tax
Tax expense
Current tax
Total tax expense
Profit for the year


COMPARATIVE STATEMENT ANALYSIS
Rs. in Crores
2018 2019 Absolute ChangePercentage Change
4535 5632 1097 24.19%

29 22 -7 -25.17%
44 30 -14 -30.79%
3 2 -1 -47.43%
0.13 0.13 0 -1.57%

683 584 -99 -14.53%
820 199 -621 -75.74%
39 124 85 221.01%
345 316 -29 -8.47%
6498 6908 411 6.32%
183 211 28 15.40%
6344 6517 173 2.72%

226 362 136 60.16%
671 713 42 6.29%
5910 7894 1984 33.56%
191 467 275 143.85%
458 793 334 73.03%
648 1147 499 77.02%
14631 18103 3472 23.73%
21129 25012 3882 18.37%
384 384 0 0.00%

6693 6560 -133 -1.98%
7077 6945 -133 -1.87%
2241 2194 -48 -2.13%

2996 3388 392 13.08%
197 274 77 38.98%
370 64 -305 -82.57%
67 35 -33 -48.78%
2058 4114 2057 99.94%
7929 10069 2140 26.98%
2 5 3 161.58%
998 1450 452 45.29%
1000 1455 455 45.50%
1547 2123 576 37.21%
103 164 60 58.40%
13 3 -9 -73.72%
2916 3179 264 9.04%
544 1074 530 97.45%
6123 7998 1875 30.63%
14052 18067 4015 28.57%
21129 25012 3882 18.37%
COMPARATIVE STATEMENT ANALYSIS - PRO

Rs. in Crores
23021 28497 5476 23.79%

947 1325 378 39.93%
23968 29822 5854 24.42%
7760 11943 4183 53.90%

3610 4999 1389 38.48%
124 140 16 12.85%
1 -1 -2 -151.78%
2455 3138 683 27.81%
340 509 169 49.78%
437 760 323 73.87%
52 467 416 805.68%
6062 8016 1953 32.22%
20841 29971 9130 43.81%
3127 -149 -3276 -104.77%

340 509 169 49.71%
437 760 323 73.91%
2350 -1418 -3768 -160.35%
669 - 0.00%
215 -305 -521 -241.73%
884 -305 -1189 -134.51%
2242 156 -2086 -93.04%

0 0 0 -46.35%
0 0 0 -45.86%
0 0 0 -46.61%
2243 156 -2086 -93.03%

ENT ANALYSIS - BALANCE SHEETS
NALYSIS - PROFIT & LOSS STATEMENTS
NALYSIS - BALANCE SHEETS
SpiceJet Ltd.
I. Assets
Non-Current Assets
b.Intangible assets
d.Financial Assets
(i) Investments
(ii) Loans
Current assets
a.Inventories
b.Financial Assets
(i) Investments
Total Assets (A+B)

Equity
b.Other Equity
Total equity (C)
Liabilities
(i) Borrowings
(ii) Trade Payables
Current Liabilities
(i) Borrowings
(ii) Trade Payables
S - PROFIT & LOSS STATEMENTS

SpiceJet Ltd.
Income
Other income
Total Revenue
Expenses
Operating expenses
ATF
Other expenses
Total Expenses

Finance Income
Finance costs
Exceptional items
Income Tax Expense
- Current Tax
- Deferred Tax
Total tax expense

Income tax impact
Rs in Crores
1594 1591 -3 -0.17%

4 13 9 218.80%
0 0 0 0.00%
0.024 0.024 0 0.00%

50 33 -17 -33.17%
883 1134 251 28.44%
29 34 5 18.08%
549 627 78 14.14%
3109 3433 324 10.41%
124 137 13 10.42%

0
101 0 -101 -99.64%
85 135 50 58.87%
71 579 508 714.07%
119 65 -54 -45.27%
27 13 -14 -52.21%
116 103 -13 -11.03%
279 329 50 18.06%
922 1362 440 47.68%
4032 4795 763 18.94%
599 600 0 0.04%

-1636 -1954 -318 19.41%
986 990 4 0.37%
7 13 6 80.52%
-43 -351 -308 716.17%
651 557 -94 -14.49%

0
- -
15 8 -7 -48.47%
15 8 -7 -48.47%
250 429 179 71.65%
62 530 468 758.51%
978 1523 546 55.80%
357 418 61 16.93%
- 19
688 1032 344 50.02%
688 1051 363 52.76%
318 162 -156 -49.04%
225 279 53 23.64%
1508 1712 205 13.59%
3097 3623 526 16.97%
4075 5146 1071 26.29%
4032 4795 763 18.94%
Rs. in Crores
7756 9113 1358 17.50%

80 58 -21 -26.70%
7835 9172 1336 17.06%
2433 3445 1012 41.59%

1032 1297 265 25.68%
469 608 139 29.64%
633 783 150 23.70%
661 752 91 13.77%
317 410 93 29.34%
3 14 11 366.67%
863 1057 194 22.54%
189 207 18 9.72%
402 559 157 39.11%
7001 9132 2131 30.44%
834 39 -795 -95.27%
-231 -256 -25 10.82%

53 86 33 63.06%
-92 -131 -39 42.41%
564 -262 -825 -146.41%
0 -63 -63
564 -325 -889 -157.67%
- -
- -
- -
564 -325 -889 -157.67%
nt periods:
0 -1 -2 -717.52%
- -
0 -1 -2 -717.52%
564 -326 -890 -157.90%
COMMON SIZ
I. Assets
Non-current assets
e. Financial assets
(i) Investments
(ii) Loans
Current assets
a. Inventories
b. Financial assets
(i) Investments
(v) Loans
Total Assets (A+B)

Equity
b. Other equity
Total equity (C)
Liabilities
(i) Borrowings
b. Provisions
Current liabilities
(i) Trade payables
Total Trade Payable
b. Provisions
COMMON SIZE STA
PROFIT & LOSS STATEMENTS

Income
Other income
Total income
Expenses
Finance costs
Other expenses
Total expenses

Finance costs
Profit before Tax
Tax expense
Current tax
Total tax expense
Profit for the year


COMMON SIZE STATEMENT ANALYSIS - BALANCE SHEETS
Rs. in Crores
2018 2019 Relative % 2018Relative % 2019
4535 5632 21.46% 22.52%

29 22 0.14% 0.09%
44 30 0.21% 0.12%
3 2 0.01% 0.01%
0.13 0.13 0.00% 0.00%

683 584 3.23% 2.33%
820 199 3.88% 0.79%
39 124 0.18% 0.50%
345 316 1.63% 1.26%
6498 6908 30.75% 27.62%
183 211 0.87% 0.85%
6344 6517 30.02% 26.05%

226 362 1.07% 1.45%
671 713 3.17% 2.85%
5910 7894 27.97% 31.56%
191 467 0.91% 1.87%
458 793 2.17% 3.17%
648 1147 3.07% 4.59%
14631 18103 69.25% 72.38%
21129 25012 100.00% 100.00%
384 384 1.82% 1.54%

6693 6560 31.68% 26.23%
7077 6945 33.50% 27.77%
2241 2194 10.61% 8.77%

2996 3388 14.18% 13.55%
197 274 0.93% 1.09%
370 64 1.75% 0.26%
67 35 0.32% 0.14%
2058 4114 9.74% 16.45%
7929 10069 37.53% 40.26%
- -
2 5 0.01% 0.02%
998 1450 4.72% 5.80%
1000 1455 4.73% 5.82%
1547 2123 7.32% 8.49%
103 164 0.49% 0.65%
13 3 0.06% 0.01%
2916 3179 13.80% 12.71%
544 1074 2.57% 4.29%
6123 7998 28.98% 31.98%
14052 18067 66.50% 72.23%
21129 25012 100.00% 100.00%
MMON SIZE STATEMENT ANALYSIS - PROFIT & LOSS STATEMENTS
Rs. in Crores
23021 28497 100.00% 100.00%

947 1325 4.11% 4.65%
23968 29822 104.11% 104.65%
7760 11943 33.71% 41.91%

3610 4999 15.68% 17.54%
124 140 0.54% 0.49%
1 -1 0.01% 0.00%
2455 3138 10.66% 11.01%
340 509 1.48% 1.79%
437 760 1.90% 2.67%
52 467 0.22% 1.64%
6062 8016 26.33% 28.13%
20841 29971 90.53% 105.17%
3127 -149 13.58% -0.52%

340 509 1.48% 1.79%
437 760 1.90% 2.67%
2350 -1418 10.21% -4.98%
0.00% 0.00%
669 0 2.91% 0.00%
215 -305 0.94% -1.07%
884 -305 3.84% -1.07%
2242 156 9.74% 0.55%

0 0 0.00% 0.00%
0 0 0.00% 0.00%
0 0 0 0
2243 156 9.74% 0.55%

CE SHEETS
SpiceJet Ltd.
I. Assets
Non-Current Assets
b.Intangible assets
d.Financial Assets
(i) Investments
(ii) Loans
Current assets
a.Inventories
b.Financial Assets
(i) Investments
Total Assets (A+B)

Equity
b.Other Equity
Total equity (C)
Liabilities
(i) Borrowings
(ii) Trade Payables
Current Liabilities
(i) Borrowings
(ii) Trade Payables
SS STATEMENTS
SpiceJet Ltd.
Income
Other income
Total Revenue
Expenses
Operating expenses
ATF
Other expenses
Total Expenses

Finance Income
Finance costs
Exceptional items
Income Tax Expense
- Current Tax
- Deferred Tax
Total tax expense

Income tax impact
Rs. in Crores
1594 1591 39.53% 33.18%

4 13 0.10% 0.27%
0 0 0.00% 0.00%
0.024 0.024 0.00% 0.00%

50 33 1.23% 0.69%
883 1134 21.91% 23.66%
29 34 0.72% 0.72%
549 627 13.63% 13.08%
3109 3433 77.12% 71.59%
124 137 3.08% 2.86%

0.00% 0.00%
101 0 2.51% 0.01%
85 135 2.11% 2.82%
71 579 1.76% 12.08%
119 65 2.94% 1.35%
27 13 0.67% 0.27%
116 103 2.88% 2.15%
279 329 6.91% 6.86%
922 1362 22.88% 28.41%
4032 4795 100.00% 100.00%
599 600 14.87% 12.51%

-1636 -1954 -40.59% -40.75%
986 990 24.47% 20.65%
7 13 0.18% 0.28%
-43 -351 -1.07% -7.31%
651 557 16.15% 11.61%
- -
15 8 0.37% 0.16%
15 8 0.37% 0.16%
250 429 6.20% 8.95%
62 530 1.53% 11.05%
978 1523 24.25% 31.77%
357 418 8.87% 8.72%
0 19 0.00% 0.39%
688 1032 17.07% 21.53%
688 1051 17.07% 21.92%
318 162 7.89% 3.38%
225 279 5.59% 5.81%
1508 1712 37.40% 35.71%
3097 3623 76.82% 75.55%
4075 5146 101.07% 107.31%
4032 4795 100.00% 100.00%
Rs. in Crores
7756 9113 100.00% 100.00%

80 58 1.03% 0.64%
7835 9172 101.03% 100.64%
2433 3445 31.37% 37.80%

1032 1297 13.31% 14.23%
469 608 6.05% 6.67%
633 783 8.16% 8.59%
661 752 8.52% 8.25%
317 410 4.09% 4.50%
3 14 0.04% 0.15%
863 1057 11.12% 11.60%
189 207 2.44% 2.28%
402 559 5.18% 6.13%
7001 9132 90.27% 100.21%
834 39 10.75% 0.43%
-231 -256 -2.98% -2.81%

53 86 0.68% 0.95%
-92 -131 -1.19% -1.44%
564 -262 7.27% -2.87%
0 -63 0.00% -0.70%
564 -325 7.27% -3.57%
- -
- -
- -
564 -325 7.27% -3.57%
sequent periods:
0 -1 0.00% -0.02%
- -
0 -1 0.00% -0.02%
564 -326 7.27% -3.58%

Balance Sheets: Interglobe Aviation Limited

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Balance Sheets: Interglobe Aviation Limited

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BALANCE SHEETS

InterGlobe Aviation Limited

II. Equity and Liabilities

2016 2017 2018 2019

4727 3747 4535 5632

0.03 0.03 0.13 0.13

76 163 183 211

986 3713 6344 6517

360 361 384 384

II. Equity and Liabilities

2016 2017 2018 2019

1627 1619 1594 1591

- 0.023 0.024 0.024

599 599 599 600

921 776 651 557

105 252 357 418

Earnings before interest, tax, depreciation and amortization (EBITDA)

Profit for the year

Other comprehensive income

Total comprehensive income for the year

Earnings per equity share of face value of Rs. 10 each

2016 2017 2018 2019

16140 18581 23021 28497

4779 6342 7760 11943

2824 2144 3127 -149

730 491 669 -

1348 1659 2242 156

1347 1657 2243 156

5.806 4.594 6.003 0.406

2321 1687 2690 -909

2964 2475 3466 360

Earnings before interest, tax, depreciation and amortization (EBITDA)

Depreciation and amortization expense

Other Comprehensive Income:

Earnings per Equity Share of INR 10 each

2016 2017 2018 2019

5088 6191 7756 9113

1392 1855 2433 3445

669 624 834 39

-180 -199 -231 -256

489 425 603 -217

InterGlobe Aviation Ltd

Cash flows from operating activities

Cash flows from investing activities

Cash flows from financing activities

Proceeds from secured loans (Refer to Note 3 below)

Cash and cash equivalents at the beginning of the year

Cash and cash equivalents at the end of the year

Cash flow from operating activities

Movements in working capital :

Cash flows from investing activities

Proceeds from issue of shares on exercise of stock options

Proceeds from sale of investments

Cash flow from financing activities

Net increase/ (decrease) in cash and cash equivalents (A+B+C)

Cash and cash equivalents at the beginning of the year

2016 2017 2018

386 392 567

180 199 231

-158 -249 -258

Capital Structure Ratios

EBITDA/Sales 17% 12% 14%