InterGlobe Aviation Limited (NSE:INDIGO) Just Reported Second-Quarter Earnings: Have Analysts Changed Their Mind On The Stock?

The quarterly results for InterGlobe Aviation Limited (NSE:INDIGO) were released last week, making it a good time to revisit its performance. The statutory results were mixed overall, with revenues of ₹186b in line with analyst forecasts, but losses of ₹66.79 per share, some 4.8% larger than the analysts were predicting. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. We've gathered the most recent statutory forecasts to see whether the analysts have changed their earnings models, following these results.

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Taking into account the latest results, the most recent consensus for InterGlobe Aviation from 14 analysts is for revenues of ₹890.4b in 2026. If met, it would imply a credible 6.9% increase on its revenue over the past 12 months. Statutory earnings per share are predicted to jump 54% to ₹204. Before this earnings report, the analysts had been forecasting revenues of ₹869.2b and earnings per share (EPS) of ₹231 in 2026. While next year's revenue estimates increased, there was also a real cut to EPS expectations, suggesting the consensus has a bit of a mixed view of these results.

View our latest analysis for InterGlobe Aviation

The consensus price target was unchanged at ₹6,461, suggesting the business is performing roughly in line with expectations, despite some adjustments to profit and revenue forecasts. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. The most optimistic InterGlobe Aviation analyst has a price target of ₹7,400 per share, while the most pessimistic values it at ₹4,050. These price targets show that analysts do have some differing views on the business, but the estimates do not vary enough to suggest to us that some are betting on wild success or utter failure.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. We would highlight that InterGlobe Aviation's revenue growth is expected to slow, with the forecast 14% annualised growth rate until the end of 2026 being well below the historical 32% p.a. growth over the last five years. By way of comparison, the other companies in this industry with analyst coverage are forecast to grow their revenue at 7.2% annually. So it's pretty clear that, while InterGlobe Aviation's revenue growth is expected to slow, it's still expected to grow faster than the industry itself.

The Bottom Line

The biggest concern is that the analysts reduced their earnings per share estimates, suggesting business headwinds could lay ahead for InterGlobe Aviation. Pleasantly, they also upgraded their revenue estimates, and their forecasts suggest the business is expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have estimates - from multiple InterGlobe Aviation analysts - going out to 2028, and you can see them free on our platform here.

It is also worth noting that we have found 2 warning signs for InterGlobe Aviation that you need to take into consideration.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.