SpiceJet Management

Management criteria checks 2/4

We currently do not have sufficient information about the CEO.

Key information

Ajay Singh

Chief executive officer

₹78.0m

Total compensation

CEO salary percentage	n/a
CEO tenure	9yrs
CEO ownership	43.9%
Management average tenure	8.5yrs
Board average tenure	7.7yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Ajay Singh's remuneration changed compared to SpiceJet's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2023	n/a	n/a	-₹1b
Jun 30 2023	n/a	n/a	-₹9b
Mar 31 2023	₹78m	n/a	-₹15b
Dec 31 2022	n/a	n/a	-₹20b
Sep 30 2022	n/a	n/a	-₹21b
Jun 30 2022	n/a	n/a	-₹18b
Mar 31 2022	₹42m	n/a	-₹17b
Dec 31 2021	n/a	n/a	-₹15b
Sep 30 2021	n/a	n/a	-₹16b
Jun 30 2021	n/a	n/a	-₹12b
Mar 31 2021	₹72m	n/a	-₹10b
Dec 31 2020	n/a	n/a	-₹16b
Sep 30 2020	n/a	n/a	-₹14b
Jun 30 2020	n/a	n/a	-₹18b
Mar 31 2020	₹72m	n/a	-₹9b
Dec 31 2019	n/a	n/a	-₹659m
Sep 30 2019	n/a	n/a	-₹794m
Jun 30 2019	n/a	n/a	-₹39m
Mar 31 2019	n/a	n/a	-₹3b
Dec 31 2018	n/a	n/a	-₹3b
Sep 30 2018	n/a	n/a	-₹1b
Jun 30 2018	n/a	n/a	₹3b
Mar 31 2018	₹147m	₹147m	₹6b

Compensation vs Market: Ajay's total compensation ($USD935.77K) is above average for companies of similar size in the Indian market ($USD266.34K).

Compensation vs Earnings: Ajay's compensation has increased whilst the company is unprofitable.

CEO

Ajay Singh (58 yo)

9yrs

Tenure

₹78,000,000

Compensation

Mr. Ajay Singh has been Chairman since May 31, 2015 and Managing Director of SpiceJet Limited since May 21, 2015. Mr. Singh Co-Founded Argentum Motors Private Limited and serves as its Chairman. He has ext...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Ajay Singh	Chairman & MD	9yrs	₹78.00m	43.89% ₹ 21.6b
Ashish Kumar	Chief Financial Officer	1.7yrs	no data	no data
Arun Kashyap	Chief Operating Officer	less than a year	no data	no data
Ashish Vikram	Chief Technology & Innovation Officer	no data	no data	no data
Chandan Sand	Senior VP of Legal	12.2yrs	₹4.72m	no data
Anand Deora	Senior Manager of Corporate Communications	no data	no data	no data
Kamal Hingorani	Chief Customer Service Officer	14.2yrs	no data	no data
Shilpa Bhatia	Chief Commercial Officer	4.3yrs	no data	no data
G. Gupta	Chief Strategy Officer & Accountable Manager	no data	no data	no data
Vinay Nambiar	Country Head for UAE	8.5yrs	no data	no data
Tushar Srivastava	Head of Corporate Affairs & CSR	no data	no data	no data

8.5yrs

Average Tenure

Experienced Management: 500285's management team is seasoned and experienced (8.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Ajay Singh	Chairman & MD	9yrs	₹78.00m	43.89% ₹ 21.6b
Shiwani Singh	Non-Executive & Non-Independent Director	9yrs	₹100.00k	0.00077% ₹ 378.2k
Anurag Bhargava	Independent & Non-Executive Director	7.7yrs	₹300.00k	no data
Ajay Aggarwal	Independent Director	5.3yrs	₹300.00k	0.0026% ₹ 1.3m
Manoj Kumar	Independent Director	5yrs	₹300.00k	0.0010% ₹ 501.0k

7.7yrs

Average Tenure

58yo

Average Age

Experienced Board: 500285's board of directors are considered experienced (7.7 years average tenure).

SpiceJet Management

Management criteria checks 2/4

Key information

Recent management updates

SpiceJet Limited, Annual General Meeting, Jan 10, 2024

SpiceJet Limited, Annual General Meeting, Dec 26, 2022

Insufficient new directors

SpiceJet Limited Announces Appointment of Ashish Kumar as Chief Financial Officer

SpiceJet Limited Approves the Resignation of Sanjeev Taneja as Chief Financial Officer

Insufficient new directors

Recent updates

Lenders to Invite Bids for Bankrupt Go First on February 23, 2024

SpiceJet's Promoter Ajay Singh and Busy Bee Airways Jointly Bid for Go First

Carlyle Aviation Partners Reportedly Expresses Interest in SpiceJet

New major risk - Negative shareholders equity

Mumbai-Based Business Couple to Invest INR 11,000 Million in SpiceJet

SpiceJet Limited, Annual General Meeting, Jan 10, 2024

SpiceJet Proposes to Acquire Go First

Second quarter 2024 earnings released: ₹7.18 loss per share (vs ₹13.84 loss in 2Q 2023)

SpiceJet Limited announced that it expects to receive INR 17.6652986 billion in funding from a group of investors

SpiceJet Limited to Report Q2, 2024 Results on Dec 08, 2023

Indigo Co-Founder Rakesh Gangwal Has No Intention of Investing in SpiceJet

IndiGo Co-Founder Gangwal Reportedly in Talks to Buy 'Sizable' Stake in SpiceJet

New major risk - Share price stability

Spicejet Ltd. to Complete the Payment Kal Airways Private Limited

SpiceJet Limited announced that it expects to receive INR 1.999999994 billion in funding from Spice Healthcare Private Limited

New minor risk - Shareholder dilution

Full year 2023 earnings released: ₹25.14 loss per share (vs ₹29.00 loss in FY 2022)

SpiceJet Limited to Report Q1, 2024 Results on Aug 11, 2023

Price target decreased by 17% to ₹35.80

Carlyle to Acquire 5.9% Stake in SpiceJet

SpiceJet Limited announced that it expects to receive INR 5 billion in funding

Third quarter 2023 earnings released: EPS: ₹1.83 (vs ₹0.71 in 3Q 2022)

SpiceJet Limited to Report Q3, 2023 Results on Feb 14, 2023

Price target increased to ₹50.67

SpiceJet Limited, Annual General Meeting, Dec 26, 2022

First quarter 2023 earnings released: ₹13.02 loss per share (vs ₹12.16 loss in 1Q 2022)

Price target decreased to ₹42.33

Insufficient new directors

SpiceJet Limited to Report Q2, 2023 Results on Nov 14, 2022

Price target decreased to ₹46.75

SpiceJet Limited Announces Appointment of Ashish Kumar as Chief Financial Officer

SpiceJet Limited Approves the Resignation of Sanjeev Taneja as Chief Financial Officer

SpiceJet Limited Reportedly Receives Interest

SpiceJet Limited to Report Q1, 2023 Results on Aug 31, 2022

SpiceJet in Talks with a Middle Eastern Carrier for the Sale

Price target decreased to ₹62.50

Forecast breakeven date pushed back to 2024

Insufficient new directors

Spicejet and Credit Suisse File Final Settlement in Supreme Court

SpiceJet Limited to Report Fiscal Year 2022 Results on May 30, 2022

Spicejet Strengthens Its International and Domestic Network with New Flights

Consensus forecasts updated

Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

SpiceJet Limited to Report Q3, 2022 Results on Feb 14, 2022

Price target decreased to ₹66.00

Insider recently sold ₹2.2m worth of stock

Price target decreased to ₹70.38

Spicexpress and Logistics Private Limited agreed to acquire Cargo and logistics business of SpiceJet from SpiceJet Limited (BSE:500285) for INR 25.6 billion.

First quarter 2022 earnings released: ₹12.16 loss per share (vs ₹10.01 loss in 1Q 2021)

Price target decreased to ₹79.75

Full year 2021 earnings released: ₹17.14 loss per share (vs ₹15.62 loss in FY 2020)

Consensus forecasts updated

Price target decreased to ₹87.88

Insider recently sold ₹1.7m worth of stock

New 90-day low: ₹80.80

Analysts increase EPS estimates to -₹21.25

Third quarter 2021 earnings released: ₹1.11 loss per share (vs ₹1.30 profit in 3Q 2020)

Revenue beats expectations, earnings disappoint

SpiceJet Limited to Report Q3, 2021 Results on Feb 10, 2021

Price target raised to ₹92.00

Price target raised to ₹87.71

Spicejet Limited Announces Management Changes

New 90-day high: ₹99.65

SpiceJet Limited, Annual General Meeting, Dec 24, 2020

Price target raised to ₹65.00

Second quarter 2021 earnings released: ₹1.76 loss per share

Spicejet Announced Executive Changes

Analysts increase revenue estimates to ₹46.9b

New 90-day high: ₹55.00