What is the story about?
SpiceJet Share Price: SpiceJet shares fell 4.67 per cent to hit an intra-day low of Rs 32.84 on Monday, September 8, 2025, after the airline reported a loss
of Rs 236.6 crore in Q1FY26, impacted by grounded aircraft awaiting maintenance. According to the exchange filing, for the quarter ended June 30, 2023, SpiceJet had an EBITDA of Rs 18 crore, down from Rs 402 crore in Q1FY25. Passenger Revenue per Available Seat Kilometre (PAX RASK) of Rs 4.74, and Passenger Load Factor (PLF) at 86 per.
SpiceJet Share Target Price
Nuvama Institutional Equities has reduced its target price for SpiceJet to Rs 40 from the previous range Rs 48 and kept a ‘Hold’ call on the stock. The updated outlook is due to a below-par Q1 performance, slow operational recovery and the ongoing operational challenges of expanding fleet.In its report, Nuvama stated that SpiceJet's Q1 FY26 EBITDAR fell year-on-year, mainly due to ASKM (Available Seat Kilometres) and PLF (Passenger Load Factor) mix. Also, CASK (Cost per Available Seat Kilometres) increased, exacerbating pressure on operating margins.
Nuvama's Q2FY26 Expectation from SpiceJet
From Q2FY26, Nuvama expects SpiceJet to show continued harbor in the outlook, but warns that the operational fleet expansion remains slow and delayed, hindering growth opportunity in the near term.Therefore, Nuvama reduced FY26E and FY27E EBITDAR estimates by 14 per cent each, owing to the lag in the turnaround timelines and the ongoing operational hurdles.
SpiceJet's Rs 3000 cr QIP Impact
SpiceJet’s recent Qualified Institutional Placement (QIP) announcement of Rs 3,000 crore will likely be an important facilitator for the airline’s financial and operational restructuring.Based on Nuvama, the proceeds will be used to pay outstanding liabilities and to assist with outstanding Aircraft on Ground (AoG) induction that is in the works.
While Nuvama is encouraged by the QIP, it acknowledges the recovery is likely to be slow, and full recovery remains a primary monitorable for investors and stakeholders. The report states that while we see structural measures are being addressed, any significant changes in operational performance will take time to be realized.
SpiceJet Share Performance
On September 08, 2025, SpiceJet share price traded 3.89 per cent lower at Rs 33.11 at 10:15 AM (IST). SpiceJet’s share price reached a 52-week high of Rs 79.90 and a 52-week low of Rs 31.25. The stock as already corrected 34.58 percent in last 3 months and extended the falls of trade 46.21 points in last one year.According to exchange data, SpiceJet shares are trading at a price-to-earnings (P/E) ratio of 80.60x, based on its trailing 12-month earnings per share (EPS) of Rs 0.41, and a price-to-book (P/B) ratio of 109.97.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
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