About Cochin International Airport Limited Unlisted Shares
Cochin Airport was incorporated on 30 March 1994, an international airport serving the city of Kochi, in the state of Kerala, India. CIAL ownership is distinguished by a public-private partnership in which the Kerala Government holds more than a 32% stake.
It is the country's first airport in the world that is powered by solar energy. Various services and facilities are offered by CIAL to the customers, which include shopping malls, transportation, security services, accommodation, a centre for handling perishable cargo, maintenance and repair of aircraft, overhaul services, and more. It also works as a flight preparation organization to set&...
Latest available unlisted share price: ₹435.00
Overview
Cochin Airport was incorporated on 30 March 1994, an international airport serving the city of Kochi, in the state of Kerala, India. CIAL ownership is distinguished by a public-private partnership in which the Kerala Government holds more than a 32% stake.
It is the country's first airport in the world that is powered by solar energy. Various services and facilities are offered by CIAL to the customers, which include shopping malls, transportation, security services, accommodation, a centre for handling perishable cargo, maintenance and repair of aircraft, overhaul services, and more. It also works as a flight preparation organization to set forward preparing for cabin teams, pilots, engineers, and specialists for in-flight and ground back.
Cochin Airport is the busiest airport in Kerala, which is located 28 km north-east of downtown Kochi, the commercial capital of Kerala, and as of November 2023. It served almost more than 63% of Kerala’s air passengers in 2024.
Cochin International Airport Ltd. (CIAL) is not listed on the stock exchange, although it has a solid base of 19,000 investors from 28 nations. The state government owns approximately 34% of the shareholding in Cochin International Airport Ltd., and the company has returned a dividend of approximately 317% since 2003-04. The Cochin International Airport share price is a point of interest for many investors, although the private status of the company means that it has no share that is publicly traded.
Services Offered
Shopping arcade
Transportation
Security services
Accommodation
A centre for handling perishable cargo
Maintenance and repair of aircraft
Overhaul services
Parking & housing
Golf course & facilities
Terminal Details
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Terminal 1 (Domestic): All domestic flights are serviced through this complex. The Domestic Terminal Complex has a floor area of around 6 lakh square feet, with a peak-hour passenger handling capacity of 2,000 incoming and 2,000 domestic outgoing passengers. It is fully equipped with modern passenger amenities to cater to domestic travelers to and from Cochin.
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Terminal 2 (Business Jet Terminal): CIAL is the fourth airport in India equipped with a terminal dedicated to business jets. This terminal is tailored to offer customized services to charter and private jets, marking it as India’s premier Charter Gateway. Distinctively, this terminal seamlessly integrates tourism, international summits, business conferences, and the movement of high-net-worth individuals while also emphasizing cost-effectiveness in the development of an exquisite airport terminal.
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Terminal 3 (International): The new international Terminal 3 welcomed travellers in March 2017. This terminal has 5 entry gates, 84 check-in counters, and 80 immigration counters. It is equipped with 10 escalators, 21 elevators, and 3 moving walkways. Additionally, the terminal features a solar carport facility capable of generating 2.7 MW of power and accommodating parking for 1,400 cars. Together with the solar carport at the domestic Terminal 1, it constitutes the largest solar carport in the world, with a combined capacity of 5.1 MW of power and parking for 2,800 cars.
Key Highlights
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It handles most of the International Passengers, which makes it India’s 3rd largest airport.
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CIAL has a portfolio of 163 ongoing projects, of which 9 are of utmost importance and are considered highly prestigious, aligning with its ambitious expansion plans.
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The company was able to launch three mega projects: Kannur, the 4.5 MW run of the river project at Aripara, Kozhikode, the 12 MW Solar plant in Payyanur, and the exquisite Business Jet Terminal
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Cochin International Airport Limited (CIAL) has surpassed one crore passengers in a calendar year for the first time, which is a significant milestone for it. Cochin is the only airport in Kerala and the fourth in South India to handle over one crore passengers annually, catering to 63.50% of the state’s air travellers.
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Around 105.2 lakh passengers were handled by CIAL, with 55.99 lakhs on domestic routes and 49.30 lakhs on international routes.
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The company also owns an 18-hole golf course (CIAL Golf Club), a trade centre (CIAL Trade and Convention Centre), and two hangars.
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As the middle-class population increases and they spend more on travelling which it is expected that the Indian domestic aviation market size is going to double by 2030, presenting business growth investment opportunities for investors.
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The domestic air freight market is expected to touch 1.1 million tonnes from 0.8 million tonnes by 2025 at a CAGR of 7-9% per annum on the back of growing e-commerce & manufacturing sectors, increasing freight-carrying capacity of planes, and better aviation connectivity to smaller cities.
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The company has consistently been paying dividends since 2003-04.
Right Issue
The Board of Directors of CIAL, in its meeting held on 14 February 2023, decided to offer 9,56,43,687 equity shares of INR 10 each for a premium of INR 40 per share (i.e., issue price INR 50 per share), totalling INR 478.22 crore to the existing shareholders of CIAL in the ratio of 1:4. The Record date fixed for the Right Issue was 22 February 2023. The Right Issue opened on 1 March 2023 and closed on 30 March 2023.
Revenue Model
The major earnings drivers of CIAL are from two sources:
Aero Revenue: It generates revenue from various sources like Landing fees, Income from cargo operations, Parking & housing fees, User Development fees, Aerobridge Charges, Passenger service fee, Income from cargo operations X-Ray screening charges, royalty income from subsidiaries, rent and services, and sale of duty-free products.
Non-Aero Revenue: Non-Aero Revenue generates revenue from CDRSL, Rent & Services, Other Royalty, Security Training Fees, Public Admission Fees, Income from trade fair centre, Income from golf course & facilities.
Cochin International Airport Limited (CIAL) subsidiary companies
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Cochin International Aviation Services Limited (CIASL)
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Air Kerala International Services Limited (AKISL)
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CIAL Infrastructures Limited (CIL)
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CIAL Duty Free and Retail Services Limited (CDRSL)
Dividend Details
The CIAL recommends a dividend of 45% on the paid-up value of equity shares for FY24.
IPO Details
According to the management, Cochin International Airport Ltd. (CIAL) was expected to launch an IPO soon, but the exact release date had not yet been announced.
News
As part of this visionary pursuit, CIAL signed an agreement with Air works for operating MRO and commissioned its state-of-the-art Business Jet Terminal and has entered into an agreement with Air works for operating the MRO. CIAL is also expanding the international terminal, T3, with the addition of 8 more aerobridges. After the Installation of full-body scanners and DigiYatra facial recognition systems, it will reduce the time taken by security guards while checking. Cochin International Airport Limited (CIAL) is on its journey to elevate its aeronautical and non-aeronautical facilities to new heights.
From the non-aero side, CIAL has entered into a strategic agreement with the renowned Taj group to oversee the operation of its luxurious 112 key five-star hotel situated within the airport premises. This is expected to be commissioned in March 2024. Development of many new projects has been started by CIAL such as a Commercial Zone in front of the international terminal, Transit Accommodation, Golf Villas and sporting facilities, a City Hotel Project, etc.
Board of Directors
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Shri.Pinarayi Vijayan, Chief Minister of Kerala, Chairman
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Shri. P. Rajeev, Director
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Shri. K. Rajan, Director
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Dr. V. Venu, Director
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Shri. E. K. Bharat Bhushan, Director
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Smt. Aruna Sundararajan, Director
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Shri. M.A. Yusuff Ali, Director
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Shri. N. V. George, Director
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Shri. E. M. Babu, Director
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Dr. P. Mohamad Ali, Director
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Shri. S. Suhas IAS, Managing Director
Subsidiaries
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Cochin International Aviation Services Ltd.
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Air Kerala International Services Ltd.
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CIAL Infrastrutures Ltd.
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CIAL Dutyfree and Retail Services Ltd.
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Kerala Waterways and Infrastructures Ltd.
Registered Address
The registered office of CIAL is located at Room No. 35, 4th Floor, GCDA Commercial Complex, Marine Drive, Cochin.
Fundamentals
Financials
| P&L Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Revenue | 267.59 | 502.30 | 939.63 | 1158.43 |
| Other Income | 29.06 | 21.90 | 15.19 | 75.08 |
| COGS | - | - | - | - |
| Gross Profit | 296.65 | 524.20 | 954.83 | 1233.51 |
| Total Expense | 222.49 | 275.33 | 376.63 | 435.82 |
| EBIDTA | 74.16 | 248.87 | 578.20 | 797.69 |
| D&A | 141.07 | 145.37 | 141.68 | 148.37 |
| EBIT | -66.91 | 103.50 | 436.52 | 649.31 |
| Interest Expense | 56.12 | 54.94 | 44.84 | 50.83 |
| PBT | -123.03 | 48.56 | 391.69 | 598.51 |
| TAX | -30.16 | 13.57 | 98.94 | 150.71 |
| PAT | -92.87 | 34.99 | 292.74 | 447.80 |
| Diluted EPS | -2.37 | 0.83 | 7.59 | 9.52 |
| Basic EPS | -2.37 | 0.83 | 7.59 | 9.52 |
| Total income | 296.65 | 524.20 | 954.82 | 1,233.51 |
ASSETS
| CURRENT ASSETS | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Cash and Cash Equivalents | 13.00 | 14.00 | 46.00 | 462.00 |
| Trade Payables | 55.00 | 93.00 | 101.00 | 116.00 |
| Inventory | 16.00 | 22.00 | 55.00 | 47.00 |
| Other Current Assets | 127.40 | 118.70 | 959.20 | 668.10 |
| Total Current Assets | 211.40 | 247.70 | 1,161.20 | 1,293.10 |
| NON CURRENT ASSETS | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Plant Property and Equipment | 2280.00 | 2221.00 | 2188.00 | 2254.00 |
| Long Term Investment | 1.00 | 10.00 | 10.00 | 10.00 |
| Other Non Current Assets | 33.00 | 34.00 | 72.00 | 16.00 |
| TOTOAL NON CURRENT ASSSETS | 2,314.00 | 2,265.00 | 2,270.00 | 2,280.00 |
| Total Assets | 2,525.40 | 2,512.70 | 3,431.20 | 3,573.10 |
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| CURRENT LIABILITES | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| TRADW Payable | - | - | - | - |
| Other Current Liab | 323.00 | 234.60 | 403.80 | 358.30 |
| Total Current Liab | 323.00 | 234.60 | 403.80 | 358.30 |
| NON CURRENTLIABILITIES | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Long Term Debt | 562.00 | 612.00 | 560.00 | 454.00 |
| Deffered Tax Liab | 46.00 | 57.00 | 106.00 | 104.00 |
| Other Non Current Liab | 279.80 | 262.00 | 245.40 | 289.90 |
LIABILITIES
| EQUITY | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Share Capital | 383.00 | 383.00 | 383.00 | 478.00 |
| Reserves And Surplus | - | - | - | - |
| Other Equity | 932.00 | 964.00 | 1733.00 | 1889.00 |
| Retained Earnings | - | - | - | - |
| share Equity | 1,315.00 | 1,347.00 | 2,116.00 | 2,367.00 |
| Total Liabilities | 2,202.80 | 2,278.00 | 3,027.40 | 3,214.90 |
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| CASH FLOW STAT | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Cash Flow from operating | 29.23 | 158.80 | 559.82 | 592.43 |
| Cash Flow from financing | -130.23 | -1.24 | 434.29 | -394.49 |
| Cash Flow from investing | -163.26 | -110.73 | -972.49 | 229.11 |
| Net cash flow | -264.26 | 46.83 | 21.62 | 427.05 |
Revenue Growth
PAT Growth %
EPS Growth %
TOTAL ASSETS Growth %
QUICK RATIO Growth %
LONG TERM DEBT TO EQUITY RATIO Growth %
The lockin period is of 6 months for pre-ipo investors i.e. they cannot sell their shares for 6 months after they get listed. However, they can definitely sell the shares in pre-ipo market before they get listed.
With BharatInvest, you can now invest in unlisted/pre-ipo shares with as low as 25-50k depending upon the share.
- 1. You can download the NSDL or CDSL application and login into the account and check whether the shares have been credited or not.
- 2. Credit of Unlisted Shares/Pre-IPO shares can be checked in brokers application as well but it takes T+2 days to show the shares.
- The value of share in unlisted space is determined in the same way as it is done in listed market. Demand and supply decide the price of any share. If the demand more than the supply, then the prices of the share increases and vice versa.
- When a new shares is introduces in the unlisted space, the value of the company is decided upon the last funding raised by company. If the company hasn’t raised any funding in the past, then the valuation is decided upon the fundamentals of the company.
A Public Unlisted Shares Is Not Listed on Stock Exchange, Where as a Listed Public Company Is Listed On Stock Exchange Such As BSE Or NSE For Trading Of Shares.
If you sell your shares within 2 years, then you will have to pay Short-term Capital gain on unlisted shares. Short-Term Capital Gain is added in your Income. So, as per individual tax slab you need to pay capital gain tax.
If you sell your shares after 2 years, then you will have to pay Long-term Capital gain on unlisted shares LTCG is 12.5% without indexation benefits.
After listing of shares, the unlisted shares which you have bought through unlisted market, will be taxed at listed rates, if sold through exchange. So, taxes of listed market will be applicable. And, to calculate holding time, for determining LTCG or STCG, the purchase date of unlisted shares will be applicable.
Absoluetly NOT! Grey market is all about speculation relation to open price, subscription rate etc. And does not include physical delivery of shares. Whereas in pre ipo market you get to invest in shares much before the ipo too and it involves physical delivery of shares. It is compeletly legal and does not include any such speculation.
Existing stakeholders, promoters or employees who have equity shares of an unlisted company and early investors who wish to get value of their investment.
1. Yes, investing in unlisted shares is undoubtedly legal in India. The trading takes place in the over-the-counter market.
Related News
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