Kannur International Airport Limited (KIAL) is a significant infrastructure project in Kerala, India, aimed at enhancing connectivity for both domestic and international travelers. Development and InfrastructurePublic-Private Partnership: KIAL operates under a public-private partnership model, with significant equity participation from the Government of Kerala and various stakeholders, including NRIs and industrialists. The government holds about 32.86% of the shares25.Airport Features:The airport covers an area of approximately 2,300 acres.It has a single runway (07/25) measuring 3,050 meters, which is planned to be extended to 4,000 meters.The passenger terminal spans over 97,000 square meters and includes modern amenities such as medical facilities, prepaid taxi services, and duty-free shopsOperational MilestonesPassenger Traffic: Within nine months of commencing operations, the airport served over 1.5 million passengers. By November 2020, it had reached two million passengers despite challenges posed by the COVID-19 pandemic24.First Flights: The inaugural flight from Kannur International Airport was an Air India Express service to Abu Dhabi on its opening day. The first trial flight occurred earlier on September 20, 2018.
| P&L Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Revenue | 44.7 | 78 | 113 | 99 |
| Cost of Material Consumed | 45 | 46 | 56 | 64 |
| Gross Margins | -0.67 | 41.03 | 50.44 | 35.35 |
| Change in Inventory | 0 | 0 | 0 | 0 |
| Employee Benefit Expenses | 11.5 | 12 | 16 | 13 |
| Other Expenses | 14.4 | 6 | 15 | 12 |
| EBITDA | -26.2 | 14 | 26 | 10 |
| OPM | -58.61 | 17.95 | 23.01 | 10.1 |
| Other Income | 5.5 | 0 | 5 | 2 |
| Finance Cost | 89 | 94 | 105 | 117 |
| D&A | 68.6 | 69 | 69 | 70 |
| EBIT | -94.8 | -55 | -43 | -60 |
| EBIT Margins | -212.08 | -70.51 | -38.05 | -60.61 |
| PBT | -179 | -138 | -145 | -174 |
| PBT Margins | -400.45 | -176.92 | -128.32 | -175.76 |
| Tax (2021) | 5.6 | -13 | -19 | -5 |
| PAT | -184.6 | -125 | -126 | -169 |
| NPM | -412.98 | -160.26 | -111.5 | -170.71 |
| EPS | -13.8 | -9.34 | -9.42 | -12.63 |
| Financial Ratios | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Operating Profit Margin | -58.61 | 17.95 | 23.01 | 10.1 |
| Net Profit Margin | -412.98 | -160.26 | -111.5 | -170.71 |
| Earning Per Share (Diluted) | -13.8 | -9.34 | -9.42 | -12.63 |
| Assets | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Fixed Assets | 1897 | 1832 | 1763 | 1695 |
| CWIP | 11.8 | 24 | 40 | 55 |
| Investments | 0 | 0 | 0 | 0 |
| Trade Receivables | 35.4 | 19 | 19 | 16 |
| Inventory | 0.3 | 1 | 1 | 0.6 |
| Other Assets | 161.5 | 145 | 163 | 137.4 |
| Total Assets | 2106 | 2021 | 1986 | 1904 |
| Liabilities | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Share Capital | 1338 | 1338 | 1338 | 1338.3 |
| FV | 100 | 100 | 100 | 100 |
| Reserves | -324.5 | -449 | -575 | -744 |
| Borrowings | 951.6 | 1036 | 1096 | 1166 |
| Trade Payables | 31.6 | 41 | 56 | 81 |
| Other Liabilities | 109.6 | 55 | 71 | 62.7 |
| Total Liabilities | 2106.3 | 2021 | 1986 | 1904 |
| Cash-Flow Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| PBT | 179 | -138 | -145 | -174 |
| OPBWC | -30.9 | 23 | 17 | 4 |
| Change in Receivables | -4.9 | 13 | 9 | 1.6 |
| Change in Inventories | -0.2 | 0 | 0 | 0 |
| Change in Payables | 12.7 | 9 | 15 | 25.1 |
| Other Changes | 0.5 | 8 | 19 | -9.7 |
| Working Capital Change | 8.1 | 30 | 43 | 17 |
| Cash Generated From Operations | -22.8 | 53 | 60 | 21 |
| Tax | 9 | -2 | -6 | -2 |
| Cash Flow From Operations | -13.8 | 51 | 54 | 19 |
| Purchase of PPE | -25.7 | -68 | -27 | -16.6 |
| Sale of PPE | 0 | 0 | 0 | 0.2 |
| Cash Flow From Investment | -22.7 | -66 | -26 | -6 |
| Borrowing | 0 | 0 | -6 | -11 |
| Divided | 0 | 0 | 0 | 0 |
| Equity | 0 | 0 | 0 | 0 |
| Others From Financing | -38.3 | -7 | -33 | -27 |
| Cash Flow from Financing | -38.3 | -7 | -39 | -38 |
| Net Cash Generated | -74.8 | -22 | -11 | -25 |
| Cash at the Start | 124.7 | 50 | 28 | 28 |
| Cash at the End | 49.9 | 28 | 17 | 3 |
| Shareholding Pattern | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Government of Kerala(Only Promoter) | 39.23% | 39.23% | 39.23% | 39.23% |
| Bharat Petroleum | 16.20% | 16.20% | 16.20% | 16.20% |
| Airports Authority Of India | 7.47% | 7.47% | 7.47% | 7.47% |
| M A Yusufali | 8.59% | 8.59% | 8.59% | 8.59% |
| Others | 28.51% | 28.51% | 28.51% | 28.51% |
