SpiceJet shares sink to 1-yr low, down 49% in 2025; what analysts say

Shares of SpiceJet Ltd slipped 2.91 per cent to hit a fresh one-year low of Rs 28.62 on Tuesday. The stock eventually closed 2.37 per cent lower at Rs 28.78. With this, the counter has plunged 48.99 per cent so far in calendar year 2025.

Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said the budget carrier continues to face significant headwinds despite attractive valuations. "SpiceJet is reeling under pressure at this point in time. Despite the low valuation, the stock is a risky proposition. We need to still wait and see how the airline is going to regain customer confidence and market share in the aviation segment. The counter is suitable for only high-risk-taking investors," he noted.

On an EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) basis, SpiceJet reported a loss of Rs 18 crore in Q1 FY26 compared to a profit of Rs 402 crore in Q1 FY25. Passenger Revenue per Available Seat Kilometre (PAX RASK) was at Rs 4.74, while Passenger Load Factor (PLF) remained strong at 86 per cent, underscoring steady customer demand despite operational challenges.

The airline said its net worth improved to Rs 446 crore from a negative Rs 2,398 crore in Q1 FY25, aided by ongoing financial restructuring measures.

From a technical standpoint, Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, said, "Support for the stock lies at Rs 27, with resistance at Rs 31. A breakout above Rs 31 could extend the upmove towards Rs 33. The stock is likely to trade within the Rs 27–33 range in the near term."

As of June 2025, promoters held a 33.46 per cent stake in the low-cost carrier.