Cochin International Airport Ltd (CIAL) - Unlisted Shares
Fundamentals
- Current Price
- ₹455
- Market Cap
- ₹21,758.95 Cr
- ISIN
- INE02KH01019
- Face Value
- ₹10
- P/E Ratio
- 47.79
- EPS
- ₹9.52
- P/B Ratio
- 7.35
- Book Value
- 61.88
- Debt / Equity Ratio
- 0.25
Key Financials
Profit & Loss
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Net Revenue | 1309.95 | 1158.42 | 939.6 | 502.3 | 267.6 | 781.3 | 748.2 |
| Growth % | 13.08% | 23.28% | 87.07% | 87.71% | -65.75% | 4.42% | 0 |
| Total Operating Expenses | 521.63 | 435.82 | 376.6 | 275.4 | 222.5 | 345.7 | 372.8 |
| Operating Profit (EBITDA) | 788.32 | 722.6 | 563.0 | 227.0 | 45.1 | 435.6 | 375.4 |
| Operating Profit Margin % | 60.18% | 62.38% | 59.92% | 45.18% | 16.85% | 55.75% | 50.17% |
| Other Income | 92.34 | 75.07 | 15.2 | 21.9 | 29.1 | 28.8 | 59.1 |
| Finance Costs | 42.43 | 50.82 | 44.8 | 54.9 | 56.1 | 54.3 | 46.7 |
| Depreciation and Amortization Expense | 145.44 | 148.37 | 141.7 | 145.4 | 141.1 | 135.6 | 116.8 |
| Profit before Tax | 692.80 | 598.5 | 391.7 | 48.6 | -123.0 | 274.5 | 271.0 |
| Income Tax | 177.25 | 150.71 | 98.9 | 13.6 | -30.2 | 37.0 | 82.5 |
| Tax % | 25.58% | 25.18% | 25.26% | 27.95% | 24.51% | 13.48% | 30.44% |
| Profit After Tax | 515.54 | 447.8 | 292.8 | 35.0 | -92.9 | 237.5 | 188.5 |
| Growth % | 15.14% | 52.95% | 736.91% | 62.33% | -139.10% | 25.99% | 0 |
| PAT % | 39.36% | 38.65% | 31.16% | 6.96% | -34.71% | 30.40% | 25.19% |
| EPS | 10.78 | 9.52 | 6.3 | 0.7 | -2.0 | 4.9 | 4.0 |
Company Financials
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Share Capital | 478.22 | 478.22 | 382.59 | 382.58 | 382.58 | 382.60 | 382.59 |
| Reserves and Surplus | 2187.04 | 1,889.02 | 1,732.96 | 964.35 | 932.00 | 1,126.13 | 1,024.44 |
| Total Equity | 2665.26 | 2,367.24 | 2,115.55 | 1,346.93 | 1,314.58 | 1,508.73 | 1,407.03 |
| Long Term Borrowings | 331.19 | 453.64 | 560.2 | 611.7 | 562.4 | 527.4 | 553.8 |
| Other Long Term Liabilities | 415.15 | 394.3 | 351.2 | 319.3 | 325.4 | 353.7 | 381.8 |
| Total Non-Current Liabilities | 746.34 | 847.94 | 911.4 | 931.0 | 887.8 | 881.1 | 935.5 |
| Short Term Borrowings | 133.92 | 131.79 | 113.8 | 68.4 | 100.3 | 25.8 | 2.4 |
| Other Current Liabilities | 296.47 | 226.5 | 290.0 | 166.2 | 222.8 | 420.6 | 425.1 |
| Total Current Liabilities | 430.39 | 358.25 | 403.8 | 234.6 | 323.1 | 446.4 | 427.4 |
| Equity + Liabilities | 3841.99 | 3,573.43 | 3,430.77 | 2,512.51 | 2,525.45 | 2,836.18 | 2,769.97 |
| Fixed Assets (incl. WIP) | 2395.36 | 2,273.74 | 2,188.96 | 2,222.20 | 2,281.30 q | 2,273.61 | 2,184.60 |
| Other Non Current Assets | 25.60 | 6.6 | 80.68 | 42.61 | 32.75 | 94.86 | 80.20 |
| Total NC Assets | 2420.97 | 2,280.34 | 2,269.64 | 2,264.81 | 2,314.05 | 2,368.47 | 2,264.80 |
| Trade Receivables | 108.03 | 115.97 | 100.6 | 93.2 | 55.0 | 73.7 | 77.5 |
| Cash and Bank Balances | 1142.88 | 1067.29 | 767.6 | 96.2 | 93.0 | 258.6 | 304.6 |
| Other Current Assets | 170.11 | 109.8 | 293.0 | 58.3 | 63.5 | 135.4 | 123.1 |
| Total Current Assets | 1421.02 | 1293.1 | 1161.1 | 247.7 | 211.4 | 467.7 | 505.2 |
| Total Assets | 3841.99 | 3,573.43 | 3,430.78 | 2,512.51 | 2,525.47 | 2,836.17 | 2,769.97 |
Shareholding Pattern
- His Excellency, The Governor of Kerala
- 33.38%
- Mr. Yusuffali M. A.
- 12.11%
- Mr. N. V. George
- 6%
- Others
- 48.57%%
Strengths & Weaknesses
Strengths
- First PPP in India: The airport is one of its kind being the first Public-Private Partnership (PPP). It is also the country’s first airport that is entirely run on solar power.
- Long Track Record: The company has started commercial operations from June 1999 and has a strong operational track record of over two decades
- Premium Pricing Strategy: Cochin International Airport boasts a strong presence of leading domestic brands within its terminal. This premium pricing strategy, compared to competitors, has provided them with a significant financial advantage. This allows Cochin Airport to not only effectively counter competition but also invest in cutting-edge research and development.
- Post-Covid Recovery: CIAL has seen passenger traffic recover to 92% and 100% of the pre-Covid levels in FY2023 and H1 FY2024, respectively, and is likely to surpass the pre-Covid level in FY2024.
Weaknesses
- Competition from International Airports: – CIAL has four international airports situated within 300 km radius from CIAL, viz. Trivandrum International Airport, Calicut International Airport, Coimbatore International Airport and Kannur International Airport
About Cochin International Airport Ltd (CIAL)
Cochin International Airport (COK), owned by Cochin International Airport Limited (CIAL), was the first Public-Private Partnership (PPP) airport in the country, started on 25th May’99.
Board of Directors
- Sri. Pinarayi Vijayan - Chairman
- Sri. S. Suhas IAS - Managing Director
- Adv. P. Rajeeve - Director
- Adv. K. Rajan - Director
- Dr. V. P. Joy IAS - Director
- Sri. E. K. Bharat Bhushan - Director
- Smt. Aruna Sundararajan - Director
- Sri. Yusuffali M.A. - Director
- Sri. N.V. George - Director
- Sri. E.M. Babu - Director
- Dr. P. Mohamad Ali - Director
Senior Management
- S. Suhas IAS - MD
- Shri. Saji. K. George - ED & CS
- Shri. Saji Daniel - CFO
Frequently Asked Questions
- Is there any lock in period for Cochin International Airport Ltd unlisted shares?
- The lock-in period for Cochin International Airport Ltd Unlisted Shares differs based on the investor category, as per SEBI regulations:
● Venture Capital Funds and Foreign Venture Capital Investors (FVCIs):
A lock-in period of 6 months from the date of acquisition of the shares.
● Alternative Investment Funds – Category II (AIF-II): No lock-in period is applicable.
● Other investors (including retail investors, high net-worth individuals (HNIs), and body corporates):
A lock-in period of 6 months from the date of IPO listing of Cochin International Airport Ltd.
These norms were introduced by SEBI in August 2021, reducing the earlier lock-in requirement from one year to six months. The change was aimed at improving liquidity and encouraging investor participation in companies preparing for public listings. Since then, interest in pre-IPO investments has increased, with investors exploring opportunities to participate in companies ahead of their potential listing. - How much long term capital gains tax do I have to pay on Cochin International Airport Ltd unlisted shares?
- Long-Term Capital Gains (LTCG) on Unlisted Shares in India arise when such shares are sold after being held for a period of more than two years. The key aspects of LTCG taxation on Cochin International Airport Ltd unlisted shares are outlined below:
1. Tax Rate
Earlier, LTCG on unlisted shares was taxed at 20% with indexation benefits. However, as per Union Budget 2024, the tax structure has been revised. For transfers made on or after 23rd July 2024, LTCG on unlisted shares is taxed at a flat rate of 12.5%.
2. Indexation Benefit
Previously, investors could avail indexation benefits to adjust the purchase price for inflation, thereby reducing taxable gains.
This indexation benefit has been removed under Budget 2024 for unlisted shares transferred on or after 23rd July 2024.
3. Importance for Investors
Understanding LTCG taxation is important for both retail investors and High Net-Worth Individuals (HNIs), as it directly impacts investment returns, exit planning, and overall tax strategy.
4. Calculation Method
For eligible transactions after 23rd July 2024, LTCG will be calculated at a flat tax rate of 12.5% on the capital gains, without indexation.
5. Applicability
LTCG tax is applicable when unlisted shares are held for more than 24 months before being sold.
6. Relevance
These tax provisions are particularly relevant for investors in the unlisted share market who are considering exiting their investments after a long-term holding period. - How do I start investing in Cochin International Airport Ltd unlisted shares through InCred Money?
- Buying Cochin International Airport Ltd Unlisted Shares on InCred Money is quick, seamless, and fully digital.
Step 1: Create Your Account
Sign up using your mobile number and email ID.
Complete your KYC by submitting your PAN, Aadhaar, bank account, and demat account details. Once submitted, your KYC is reviewed and approved.
Step 2: Select & Buy Shares
Browse and select Cochin International Airport Ltd from our Unlisted Shares list and place your order.
Step 3: Share Transfer
Based on the settlement period for the shares noted on the platform, the purchased shares are transferred and reflected in both your InCred Money portfolio and your demat account. - What documents are needed to invest in Cochin International Airport Ltd unlisted shares?
- To invest in Cochin International Airport Ltd Unlisted Shares on InCred Money, you need to complete your KYC verification by submitting the following documents:
● PAN Card
● Aadhaar Card
● Bank account details
● Demat account details
Once your KYC is successfully completed and approved, you can start investing in unlisted shares on the platform.
