Spicejet Ltd

SpiceJet has allotted 13,14,08,514 equity shares to Spice Healthcare, a Promoter Group Company pursuant to exercise of option of converting 13,14,08,514 Warrants into an equivalent number of equity shares of the Company of the face value of Rs.10 each. After completion of aforesaid transactions, the consolidated shareholding of the Promoters Group in the Company has increased from 29.33% to 33.47%. Pursuant to aforesaid conversion, the Subscribed and Paid-up Equity Share Capital of the Company stands increased to Rs. 14,13,39,71,670 consisting of 1,41,33,97,167 fully paid-up equity shares of Rs. 10 each. The new equity shares so allotted shall rank pari-passu with the existing equity shares of the Company. Powered by Capital Market - Live

SpiceJet today announced that its Founder and Promoter, Ajay Singh, through M/s Spice Healthcare (a Promoter Group Company), will infuse Rs 294.09 crore into the company through the conversion of 13,14,08,514 warrants into an equivalent number of equity shares (13.14 crore equity shares). This strategic move will increase the consolidated shareholding of the Promoter Group in SpiceJet from the current 29.11% to 33.47%. Further, Ajay Singh, Promoter of the Company, is disposing upto 3.15 crore equity shares of the Company and utilize the proceeds to enable Spice Healthcare to partially fund the balance of 75% of the amount at the time of allotment of the equity shares pursuant to exercise of option to convert said warrants. The infusion underscores the Promoter Group'fs continued confidence in SpiceJet'fs long']term growth potential and strategic direction. A meeting of the Board/Board Committee of the Company will be held shortly, on or before 18 March 2025, to approve the allotment of equity shares pursuant to the exercise of the warrant conversion option. Ajay Singh, Chairman and Managing Director, SpiceJet, said, 'gThis fresh infusion reaffirms our unwavering commitment to the airline and its bright future. This investment will further strengthen our financial position and drive growth. SpiceJet has always been a resilient airline and with this fresh capital, we are well positioned to enhance our operations and seize new opportunities.'hPowered by Capital Market - Live

The key equity barometers trade with limited gains in the early afternoon trade. The Nifty traded above the 22,450 mark. Financial services shares jumped after declining in the past trading session. At 12:25 IST, the barometer index, the S&P BSE Sensex, advanced 267 points or 0.36% to 74,093.24. The Nifty 50 index added 87.05 points or 0.39% to 22,484.25. In the broader market, the S&P BSE Mid-Cap index advanced 0.61% and the S&P BSE Small-Cap index rose 0.30%. The market breadth was negative. On the BSE, 1,755 shares rose and 2,164 shares fell. A total of 176 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.65% to 13.50. The Nifty 27 March 2025 futures were trading at 22,561.50, at a premium of 77.25 points as compared with the spot at 22,484.25. The Nifty option chain for the 27 March 2025 expiry showed a maximum call OI of 66.4 lakh contracts at the 23,000 strike price. Maximum put OI of 83.5 lakh contracts was seen at 22,000 strike price. Economy: The wholesale price inflation (WPI) in India stood at 2.38% (provisional) for the month of February, 2025 (over February, 2024). Positive rate of inflation in February, 2025 is primarily due to increase in prices of manufacture of food products, food articles, other manufacturing, non-food articles and manufacture of textiles etc. The month over month change in WPI for the month of February, 2025 stood at 0.06% as compared to January, 2025. Buzzing Index: The Nifty Financial Services rose 1.14% to 23,554.75. The index shed 0.16% in the past trading session. Multi Commodity Exchange of India (up 4.58%), Muthoot Finance (up 3.95%), SBI Life Insurance Company (up 3.7%), Bajaj Finserv (up 3.34%) and ICICI Prudential Life Insurance Company (up 2.25%) were the top gainers. Among the other gainers were Axis Bank (up 2.04%), ICICI Lombard General Insurance Company (up 2%), Bajaj Finance (up 1.97%), ICICI Bank (up 1.71%) and LIC Housing Finance (up 1.14%) advanced. Stocks in Spotlight: Spicejet added 2.22% after its founder and promoter, Ajay Singh, through his promoter group company, Spice Healthcare, announced an additional Rs 294.09 crore investment, increasing the group's shareholding in the airline. Maruti Suzuki India rose 0.10%. The company announced that it will increase the prices of its cars by 4%, effective from April 2025, due to rising input cost and operational expenses.Powered by Capital Market - Live

This investment will be made through the conversion of 13,14,08,514 warrants into an equivalent number of equity shares (13.14 crore equity shares). As a result, the consolidated shareholding of the Promoter Group in SpiceJet will increase from 29.11% to 33.47%. The proceeds from the sale of shares will be used to partially fund the remaining 75% of the amount required for the allotment of equity shares after the warrants are converted. This infusion highlights the Promoter Group's continued confidence in SpiceJet's long-term growth potential and strategic direction. Ajay Singh, chairman and MD of SpiceJet, said, 'This fresh infusion reaffirms our unwavering commitment to the airline and its bright future. This investment will further strengthen our financial position and drive growth. SpiceJet has always been a resilient airline, and with this fresh capital, we are well-positioned to enhance our operations and seize new opportunities.' Meanwhile, a meeting of the board committee of SpiceJet is scheduled to take place on or before 18 March 2025, to approve the allotment of equity shares resulting from the warrant conversion. SpiceJet is a low-budget air carrier. The airline operates a fleet of Boeing 737s, Q-400s, & freighters and is the country's largest regional player operating multiple daily flights under UDAN, or the Regional Connectivity Scheme. The majority of the airline's fleet offers SpiceMax, the most spacious economy class seating in India. The company reported a standalone net profit of Rs 24.96 crore in Q3 FY25 as compared with a net loss of Rs 301.45 crore in Q3 FY24. Revenue from operations fell 35.33% to Rs 1231.06 crore in Q3 FY25 as compared with Rs 1,903.57 crore in Q3 FY24. Powered by Capital Market - Live

Net profit of SpiceJet reported to Rs 20.44 crore in the quarter ended December 2024 as against net loss of Rs 298.63 crore during the previous quarter ended December 2023. Sales declined 36.30% to Rs 1178.76 crore in the quarter ended December 2024 as against Rs 1850.48 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales1178.761850.48 -36 OPM %-15.92-12.48 - PBDT168.76-115.23 LP PBT20.27-298.78 LP NP20.44-298.63 LP Powered by Capital Market - Live

The Board of Directors of SpiceJet in their meeting held on 25 February 2025 has allotted 3,02,950 equity shares of the Company of face value of Rs.10 each pursuant to exercise of options under SpiceJet Employee Stock Option Scheme - 2017. Powered by Capital Market - Live

Revenue from operations fell 35.33% to Rs 1231.06 crore in Q3 FY25 as compared with Rs 1,903.57 crore in Q3 FY24. The company reported pre-tax profit of Rs 24.96 crore during the quarter as against pre-tax loss of Rs 301.45 crore posted in corresponding quarter last year. EBITDA stood at Rs 210 crore in Q3 FY25, steeply higher than Rs 3 crore posted in same quarter last year. Total passenger revenue per available seat kilometer (RASK) stands at Rs 4.57. Passenger Load Factor (PLF) stood at an impressive 87%. Total amount spent for ungrounding aircraft stood at Rs 170 crore in Q3 FY25. The company has cleared all GST, TDS, and EPF statutory dues totaling Rs 601 crore and secured the rights to operate Haj flights from four key cities in Q1 FY26. Ajay Singh, chairman and managing director, SpiceJet, said, 'This quarter's performance is a testament to SpiceJet's resilience and our relentless focus on financial and operational recovery. For the first time in a decade, the company has turned net worth positive ' an important milestone that underscores the success of our turnaround strategy. The past is behind us, and we are now firmly focused on building a stronger, more resilient future for SpiceJet. We are in discussions with OEMs for advanced deliveries of aircraft and are actively exploring both organic and inorganic growth opportunities.' Debojo Maharshi, chief business officer, SpiceJet, said, 'Strong demand and effective network optimization are expected to drive a double-digit growth in RASKs during the fourth quarter of FY25 compared to the previous year. This anticipated increase will not only enhance our revenue streams but also significantly improve our cash flows, contributing to the overall financial health of the company and enabling us to invest in key initiatives.' SpiceJet is a low-budget air carrier. The airline operates a fleet of Boeing 737s, Q-400s, & freighters and is the country's largest regional player operating multiple daily flights under UDAN, or the Regional Connectivity Scheme. The majority of the airline's fleet offers SpiceMax, the most spacious economy class seating in India. The counter advanced 1.70% to settle at Rs 47.97 on Tuesday, 25 February 2025. The stock market is closed today on account of Mahashivratri.Powered by Capital Market - Live

SpiceJet will hold a meeting of the Board of Directors of the Company on 25 February 2025.Powered by Capital Market - Live

SpiceJet is set to re-induct its first ungrounded Boeing 737 MAX aircraft into operations starting 29 January, 2025. Grounded for several months, the aircraft's return marks a significant milestone in the airline's fleet restoration and operational enhancement efforts. To facilitate the restoration of its MAX fleet, SpiceJet recently entered into services agreements with StandardAero Inc., a leading US-based engine maintenance, repair, and overhaul (MRO) provider, and CFM International, Inc., the original equipment manufacturer (OEM) for LEAP-1B engines. Under its ongoing fleet restoration plan, the airline aims to bring ten aircraft, including four Boeing 737 MAX planes, back into service by mid-April 2025 and this is the first 737 MAX aircraft to be brought back under the exercise. The addition of the MAX aircraft will enable SpiceJet to operate to high-demand markets such as Jeddah and Riyadh without any operational restrictions. The induction of these fuel-efficient planes will result in significant cost savings due to the MAX's reduced fuel consumption, lower maintenance requirements, and higher aircraft utilization, all of which will contribute to further optimizing the airline's operations.Powered by Capital Market - Live

SpiceJet has announced the addition of special flights to Prayagraj for the Maha Kumbh by introducing new direct flights from Guwahati, Chennai, and Hyderabad. In addition, the airline will enhance its existing daily services to Prayagraj from Delhi, Mumbai, Ahmedabad, Jaipur, and Bengaluru by adding more flights from these key cities. The special flights from Chennai and Hyderabad will operate from 01 February to 27 February  2025, while services from Guwahati will run from 11 February to 28 February 2025Powered by Capital Market - Live