BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
InterGlobe Aviation Ltd. remains one of the biggest potential beneficiaries of the eventual recovery of air traffic from the Covid-19 induced depression.
However, the impact of Covid 2.0 has been profound with average cash burn of Rs 334 million per day in Q1 FY22.
The total gross free cash balance has shrunk from Rs 71 billion in Q4 FY21 to Rs 56 billion in Q1 FY22, debt excluding capital lease obligation increased from Rs 41 billion in March 2021 to Rs 58 billion in June 2021, and the available untapped liquidity declined from Rs 45 billion in March-21 to Rs 39 billion in June-21.
IndiGo's proposed qualified institutional placements (Rs 30 billion) will be an incremental available fund.
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