Unlisted Shares
Kannur International Airport Limited
Verified Unlisted CompanyOff-market Transfer · NSDL / CDSL
About Kannur International Airport Limited
Kannur International Airport Limited (KIAL) is an unlisted public company promoted by the Government of Kerala to develop and operate the Kannur International Airport. The airport serves as a key infrastructure asset in North Kerala, supporting tourism, international travel, and regional economic growth. Strategically located, it enhances connectivity for the Malabar region and caters to both domestic and international passengers, particularly Gulf traffic. The company operates in the infrastructure and aviation sector with long-term growth linked to passenger traffic expansion and regional development.
Share Details
| company Name | Kannur International Airport Limited |
| indicative Unlisted Share Price | ₹163 |
| market Capitalization | ₹1740 Cr |
| lot Size | 100 |
| 52 Week High | ₹132 |
| 52 Week Low | ₹122 |
| face Value | ₹100 |
| book Value | ₹44.88 |
| pe Ratio | N/A |
| pb Ratio | 2.9 |
| debt To Equity | 2.43 |
| return On Equity | -18.75% |
| total Outstanding Shares | 1,38,38,900 |
| isin | INE02YV01013 |
| depository | NSDL & CDSL |
| pan | AABCK8484N |
| cin | U63033KL2009PLC025103 |
| rta | SKDC Consultants |
Income Statement (Profit & Loss) (₹ in Crore)
| Particulars | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | 78 | 113 | 99 | 191 |
| EBITDA | 14 | 26 | 10 | 91 |
| Operating Profit | 14 | 26 | 10 | 91 |
| EBIT | -55 | -43 | -80 | 20 |
| Profit Before Tax | -58 | -145 | -94 | -101 |
| Net Profit / Loss | -125 | -126 | -169 | -94 |
| EPS | -9.34 | -9.42 | -12.63 | -7.02 |
Key Financial Ratios (Last 3–5 Years)
| Ratio | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Operating Profit Margin (%) | 17.95 | 23.01 | 10.1 | 47.64 |
| Net Profit Margin (%) | -160.26 | -111.5 | -170.71 | -49.21 |
| EPS | -9.34 | -9.42 | -12.63 | -7.02 |
Financial Annual Report Summary
Kannur International Airport has shown gradual revenue growth but continues to operate under losses due to high infrastructure costs and interest burden. EBITDA has improved over time, but profitability remains negative due to significant finance costs. The business is capital intensive and long-term in nature, with profitability expected to improve as passenger traffic increases.
Why Invest in Kannur International Airport
- Revenue is improving gradually, indicating recovery in passenger traffic.
- High debt and finance costs are major reasons for sustained losses.
- EBIT turning positive in FY25 is an important milestone.
- Long gestation infrastructure business requires patience from investors.
Balance Sheet - Assets (₹ in Crore)
| Item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Fixed Assets | 1,684 | 1,763 | 1,695 | 1,684 |
| CWIP | 24 | 40 | 55 | 3.5 |
| Trade Receivables | 19 | 19 | 16 | 11.3 |
| Inventory | 1 | 1 | 0.6 | 0.69 |
| Other Assets | 145 | 163 | 137.4 | 200.88 |
| Total Assets | 2,021 | 1,986 | 1,904 | 1,901 |
Balance Sheet - Liabilities & Equity (₹ in Crore)
| Item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Share Capital | 1,338 | 1,338 | 1,338.3 | 1,338.3 |
| Reserves | -449 | -575 | -744 | -838 |
| Borrowings | 1,036 | 1,096 | 1,166 | 1,216 |
| Trade Payables | 41 | 56 | 81 | 105 |
| Other Liabilities | 55 | 71 | 62.7 | 79.62 |
| Total Liabilities | 2,021 | 1,986 | 1,904 | 1,901 |
Liabilities Breakdown & Balance Sheet Insights
Balance Sheet Insights
The company has a highly capital-intensive balance sheet dominated by fixed assets. Negative reserves indicate accumulated losses, while borrowings continue to rise, reflecting funding needs for infrastructure and operations.
Liabilities Breakdown
Liabilities are heavily skewed towards long-term borrowings used for airport development. Negative reserves highlight accumulated losses over time.
Additional Insights
Kannur Airport is a classic infrastructure play with high leverage and long payback cycles. Financial stability depends on increasing passenger traffic and operational efficiency.
Cash Flow Insights
- Operating cash flow remains positive despite accounting losses.
- Investments have reduced, indicating completion of major capex.
- Financing outflows reflect debt servicing pressure.
- Cash flow stability is improving gradually.
Shareholding Pattern
Shareholding pattern data not available
Promoters & Management
The company is promoted by the Government of Kerala along with public and institutional investors, focusing on infrastructure development and regional connectivity.
Registrar & Transfer Agent (RTA)
Registrar: SKDC Consultants
Website: https://www.skdc-consultants.com/
Management Analysis
Management is focused on improving operational efficiency, increasing passenger traffic, and optimizing revenue streams. Long-term success depends on achieving scale and reducing debt burden.
Frequently Asked Questions About Kannur International Airport Limited
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