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×

cochin international airport Limited

180.00
-1.64 %
Scrip Name
CIAL
ISIN No.
INE02KH01019
PAN No.
AAACC9658B
Face Value
10
No. of Outstanding Shares
382,574,749
Market Capitalization
6,886.35 Crore

About COCHIN INTERNATIONAL AIRPORT LIMITED Unlisted Shares

 

COCHIN INTERNATIONAL AIRPORT LIMITED is the first greenfield airport in India to be built in partnership with the public and private sectors. It is also the world's first solar-powered airport. The project was the brainchild of Mr. V.J. Kurian IAS and he is the founder and Managing Director of the company. Cochin International Airport Limited is the 4th largest airport in India in terms of international passenger traffic. As of now, there are mainly 24 airline companies that operate from Cochin International Airport Limited which facilitates direct connectivity to Sri Lanka, Singapore, Thailand, GCC countries, and Malaysia.

The details of aircraft, passenger, and cargo traffic at Cochin International Airport for FY 2021 and FY 2020. 

 

Aircraft Movement (in numbers)

 

 

 

 

Year

Aircraft Movement

Total

International Sector

Domestic Sector

2020 - 21

8,129

18,857

26,986

2019 - 20

29,309

38,441

67,750

Increase / (Decrease) in Nos

-21,180

-19,584

-40,764

Increase / (Decrease) in %

-72.26%

-50.94%

-60.16%

 

 

Passenger Movement (in numbers)

       

Year

Passenger t Movement

Total

International Sector

Domestic Sector

2020 - 21

9,19,346

15,50,750

24,70,096

2019 - 20

47,00,293

50,10,380

97,10,673

Increase / (Decrease) in Nos

-37,80,947

-34,59,630

-72,40,577

Increase / (Decrease) in %

-80.44%

-69.05%

-74.56%

 

    

 

 

 

 

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      

 

   

Cargo Movement (in MTs)

 

     

 

Year

International Sector

Domestic Sector

 

2020 - 21

35,636

10,202

2019 - 20

58,582

15,007

Increase (Decrease) in MTs

-22,946

-4,805

Increase (Decrease) in %

-39.20%

-32.00%

 

The company is now planning to make its presence in the hotel & hospitality industry by setting up a hotel project adjacent to the Airport in the land belonging to Cochin International Airport Limited.

 

INCORPORATION DETAILS

CIN

U63033KL1994PLC007803

Registration Date

30 March 1994

Category / Sub-Category of the Company

Company limited by shares

Address of the Registered office and contact details

Room No:35, 4th Floor, GCDA Commercial Complex, Marine Drive, Ernakulam - 682 031

Telephone & Fax : 0484-2374154

Name, Address and Contact details of Registrar and Transfer Agent, if any

M/s. S.K.D.C. Consultants Limited

Kanapathy Towers, 3rd Floor, 1391/A1, Sathy Road, Ganapathy, Coimbatore,

Tamil Nadu - 641 006 Telephone: 0422-2539835 / 36.

 

PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

Name and Description of main products/services

NIC Code of the product/service

% to the total turnover of the Company

Airport Operator

5223

100%

 

BOARD OF DIRECTORS

Sri. Pinarayi Vijayan (Chairman)

Adv. P. Rajeeve

Adv. K. Rajan

Dr. V. P. Joy IAS

Sri. K. Roy Paul

Smt. A.K. Ramani

 Sri. Yusuffali M.A.

Sri. N.V. George

Sri. E.M. Babu

 Sri. S. Suhas IAS (Managing Director)

 

PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES

Name of the Company

Subsidiary/Associate

% of shares held

Cochin International Aviation Services Limited

Subsidiary

99.99

CIAL Infrastructures Limited

Subsidiary

99.99

Air Kerala International Services Limited

Subsidiary

99.99

CIAL Duty-free and Retail Services Limited

Subsidiary

99.90

Kerala Waterways and Infrastructures Limited

Subsidiary

99.99

 

SHAREHOLDING PATTERN

   

(As of 31-03-2021)

   

S. No.

Shareholders’ Name

No. of Shares

% of total Shares of the company

1

Government of Kerala (Promoter)

12,40,29,206

32.42

2

Other Promoters

2,47,993

0.06

3

Public Shareholding

25,82,97,550

67.52

 

Total

38,25,74,749

100

 

Change in Promoters’ Shareholding

 

Shareholding at the beginning of the year

Shareholding at the end of the year

Change %

Name of the Shareholder(s)

 

 

 

Government of Kerala

12,40,29,206

12,40,29,206

 

Kochi International Airport Society

175

175

 

Cochin Chamber of Commerce and Industry

25

25

 

Kerala Chamber of Commerce and Industry

37,512

510

0.009672

Indian Chamber of Commerce and Industry

10

10

 

C.V. Jacob

2,10,271

2,10,271

 

 

 

INDUSTRY OUTLOOK

The civil aviation industry in India has been one of the fastest-growing industries in the country for the past three years. India has become the third-largest domestic aviation in the world.

India’s passenger traffic was 3,410.5 Lakhs in FY 2020. It grew at a CAGR of 11.3% from FY 2016 to FY 2020. Freight traffic at Indian airports grew at a CAGR of 5.32% from FY2016 to FY2020. from 2.70 million tonnes (MT) to 3.33 Million Tonnes. Freight Traffic is expected to grow at a CAGR of 7.27% to reach 4.14 Million Tonnes in FY 2023. Aircraft movement grew at a CAGR of 9.56% from 1.60 million in FY 2016 to 2.59 million in FY 2020.

However, the beginning of 2020 witnessed an unprecedented global pandemic of Covid -19 and the consequent nationwide lockdown imposed by the Government of India to contain the spread of Covid -19 in India. The covid-19 crisis has severely impacted almost all industries but disruptions in the aviation sector were very intense. The Government of India suspended the aircraft operations of domestic flights and international commercial passenger services. This led major airlines to face huge losses. The government had to extend the deadline for submitting bids for ‘Air India 5 times during FY 2020.

The government of India started domestic flights on May 25, 2020. But international flight operations are not resumed yet. However, some categories of foreigners are allowed to enter India including Overseas Citizens of India, foreign nationals intending to visit India for any purpose except those on Tourist visas, and all existing Visas.

In August 2020, the government approved 78 new routes under UDAN 4.0 to enhance connectivity to remote and regional areas of the country. Under Union Budget 2020-21, the Government introduced the Krishi Udan scheme on both domestic and international routes to help farmers in transporting agricultural products and improve the product value.

The government is privatizing the state-owned airports of India. In the first round of privatization, the Government of India sold 6 airports - Lucknow, Ahmedabad, Jaipur, Mangalore, Thiruvananthapuram, and Guwahati.

India’s aviation industry is a dark horse. It is an untapped industry but has huge growth opportunities.

 

KEY FINANCIALS OF COCHIN INTERNATIONAL AIRPORT LIMITED (In Rs. Lakhs)

 

STANDALONE STATEMENT OF PROFIT & LOSS

Particulars

2021

2020

2019

2018

Revenue from Operations

22,716.88

63,268.02

59,856.36

54,059.88

Other Income

2,554.44

2,236.79

5,178.04

1,281.85

Total Revenue

25,271.32

65,504.81

65,034.40

55,341.73

 change %

-61.42%

0.72%

17.51%

 

EBITDA

6,699.97

42,384.72

52,462.72

44,592.80

Change %

-84.19%

-19.21%

17.65%

 

EBITDA Margin

26.51%

64.70%

80.67%

80.58%

DEP

13,073.43

12,508.35

10,624.58

10,359.78

FINANCE COST

5,140.67

5,093.65

17,155.39

10,790.67

PBT

-11,514.13

24,782.72

24,682.75

23,442.35

Tax Expense I Current Taxes

0.00

5,056.97

6,468.13

5,786.46

MAT Credit Entitlement

 

 

-1,129.95

-881.85

Deferred taxes

-2,793.13

-1,786.58

2,279.35

-70.96

Total  Tax Expense

-2,793.13

3,270.39

7,617.53

7,600.10

PAT

-8,721.00

21,512.33

17,065.21

15,599.56

Change %

-141%

26%

9%

 

Profit Margin

-34.51%

32.84%

26.24%

28.19%

 

BALANCE SHEET OF COCHIN INTERNATIONAL AIRPORT LIMITED(In Rs. Lakhs)

                                                                                      

 STANDALONE BALANCE SHEET AS AT  31st March 2021                (Rupees in lakhs) 

Particulars

2021

2020

ASSETS

 

 

NON CURRENT ASSETS

 

 

 Property, plant, and equipment

1,87,069.22

1,79,595.11

Capital work in progress

9,931.37

20,003.14

Intangible assets

125.40

158.82

Financial assets

24,081.44

24,156.53

Income tax assets (net)

2,109.00

5,690.70

Other non-current assets

240.83

2,794.60

TOTAL NON-CURRENT ASSETS

2,23,557.26

2,32,398.90

CURRENT ASSETS

 

 

Inventories

507.98

529.96

Investments

 

 

Trade receivables

5,176.88

11,177.49

Cash and cash equivalent

135.25

2,831.71

Bank Balance

4,850.72

20,594.70

Other Financial  assets

1,348.51

240.37

 Other current assets

2,244.30

2,577.18

TOTAL CURRENT ASSETS

14,263.64

37,951.41

TOTAL ASSETS

 

 

EQUITY AND LIABILITIES

 

 

EQUITY

 

 

Equity Share Capital

38,257.47

38,257.47

Reserves and Surplus

88,950.31

1,07,790.07

TOTAL EQUITY

1,27,207.78

1,46,047.54

LIABILITIES

 

 

NON CURRENT LIABILITIES

 

 

 Financial Liabilities

 

 

 Borrowings

49,925.13

48,907.92

Other financial liabilities

4,770.29

4,297.41

Provisions

4,357.61

3,999.08

Deferred Tax Liabilities

4,470.29

7,192.54

Other noncurrent liabilities

16,743.21

17,439.73

TOTAL NON-CURRENT LIABILITIES

80,266.53

81,836.68

CURRENT LIABILITIES

 

 

Borrowings

9,701.63

2,463.61

Trade payables

1,540.40

1,681.74

Other Financial liabilities

15,894.24

18,929.52

Other current liabilities

2,623.84

18,805.82

Short term provisions

586.53

585.41

TOTAL CURRENT LIABILITIES

30,346.64

42,466.10

TOTAL LIABILITIES

1,10,613.17

1,24,302.78

TOTAL EQUITY AND LIABILITIES

2,37,820.95

2,70,350.32

 

KEY FINANCIALS OF COCHIN INTERNATIONAL AIRPORT LIMITED (In Rs. Lakhs)

 

CONSOLIDATED STATEMENT OF PROFIT AND LOSS (Rupees in lakhs)

 

 

2021

2020

2019

2018

Revenue from Operations

26,758.75

78,129.31

74,824.09

68,610.59

 

-66%

4%

9%

 

Other Income

2,906.44

2,878.84

5,912.52

1,502.68

Total Revenue

29,665.20

81,008.15

80,736.61

70,113.27

 change %

-63.38%

0.34%

15.15%

 

EBITDA

7416.39

46453.22

56137.63

40823.83

Change %

-84.03%

-17.25%

37.51%

 

EBITDA Margin

25.00%

57.34%

69.53%

58.23%

DEP

14,107.32

13,560.83

11,682.69

11,210.69

FINANCE COST

5,612.21

5,425.55

17,352.72

4,262.08

PBT

-12,303.14

27,466.84

27,102.22

25,351.06

Tax Expense I Current Taxes

114.28

5,474.41

6,980.17

6,222.53

Other taxes

-3,129.97

-1,774.01

1,271.04

1,895.47

Total  Tax Expense

-3,015.70

3,700.41

8,251.21

8,118.01

PAT

-9,287.45

23,766.44

18,851.01

17,233.05

Change %

-139%

26%

9%

 

Profit Margin

-31.31%

29.34%

23.35%

24.58%

No of Shares

38,25,74,749

38,25,74,749

38,25,74,749

38,25,74,749

EPS( in Rs.)

-2.37

5.91

4.83

4.5

 

 

BALANCE SHEET OF COCHIN INTERNATIONAL AIRPORT LIMITED (In Rs. Lakhs)

CONSOLIDATED BALANCE SHEET AS AT 31st March 2021                (Rupees in lakhs) 

Particulars

2021

2020

ASSETS

 

 

NON CURRENT ASSETS

 

 

 Property, plant, and equipment

2,09,299.21

1,99,507.06

Capital work in progress

18,704.78

27,695.11

Intangible assets

125.55

159.23

Financial assets

784.03

755.12

Income tax assets (net)

2,241.32

5,909.98

Other non-current assets

249.17

2,821.09

TOTAL NON-CURRENT ASSETS

2,31,404.06

2,36,847.59

CURRENT ASSETS

 

 

Inventories

1,579.56

3,176.24

Investments

 

 

Trade receivables

5,495.87

7,370.85

Cash and cash equivalent

1,258.90

3,443.55

Bank Balance

8,039.93

22,415.23

Other current assets

3,287.31

10,026.85

TOTAL CURRENT ASSETS

19,661.57

46,432.72

TOTAL ASSETS

2,52,545.81

2,83,617.73

EQUITY AND LIABILITIES

 

 

EQUITY

 

 

Equity Share Capital

38,257.47

38,257.47

Reserves and Surplus

93,200.14

1,12,613.13

Equity attributable to owners of the company

1,31,457.62

1,50,870.60

Non-Controlling Interest

1.37

2.53

TOTAL EQUITY

1,31,458.99

1,50,873.13

LIABILITIES

 

 

NON CURRENT LIABILITIES

 

 

 Financial Liabilities

 

 

 Borrowings

56,241.80

52,739.92

Other financial liabilities

5,878.61

5,282.96

Provisions

4,462.13

4,071.59

Deferred Tax Liabilities

4,610.09

7,646.68

Other noncurrent liabilities

17,589.48

18,368.77

TOTAL NON-CURRENT LIABILITIES

88,782.11

88,109.92

CURRENT LIABILITIES

 

 

Borrowings

10,025.42

2,580.38

Trade payables

1,758.66

2,342.20

Other financial liabilities

16,758.78

19,813.68

Other current liabilities (net)

3,168.25

19,217.41

Short term provisions

593.60

681.02

TOTAL CURRENT LIABILITIES

32,304.71

44,634.69

TOTAL LIABILITIES

1,21,086.82

1,32,744.61

TOTAL EQUITY AND LIABILITIES

2,52,545.81

2,83,617.74

 

DIVIDEND AND RETAINED EARNINGS

 

   

Particulars

2021

2020

2019

2018

2017

Dividend (In Rs.) (final + interim)

 ₹ 2.70

 ₹ 2.70

 ₹   2.70

 ₹   2.50

 ₹ 2.50

Retained Earnings (Consolidated) (In Rs. Lakhs)

 ₹   56,209.56

 ₹ 75,622.54

 ₹   65,453.30

 ₹ 58,506.84

 ₹ 52,856.18

 

PERFORMANCE OF THE COMPANY

Revenue from Operations of the company decreased by 66% in FY 2021 to Rs. 26,58.75 Lakhs from Rs. 78129.31 Lakhs in FY 2020. Overall revenue has decreased by 63.38% to Rs. 29665.20 in FY 2021.

EBITDA decreased by 84from Rs 46453.22 Lakhs in FY 2020 to Rs. 7416.39 Lakhs in FY 2021. EBITDA margins reduced from 57.34% in FY 2020 to 25% in FY 2021.

The profit After Tax (PAT) of the company has fallen drastically by 139% from Rs. 23766.44 Lakhs in FY 2020 to Rs. -9287.45 lakhs in FY 2021. This is due to the Impact of COVID-19. Though the profitability has reduced same was the case overall airline industry and as the economy recovers the company will be set for recovery

The debt-to-equity ratio of the company for FY 2021 is 0.503, last year it was 0.36. This decrease is mainly because of dividend payments even when the loss was incurred

The Current Ratio of the company for FY 2020 is 1.04 and the same has declined to 0.60 This will affect companies' liquidity to pay off its current liabilities.

Cochin International Airport Limited has consistently given dividends from FY 2017 to FY 2021. The company gave a dividend of Rs. 2.7 for FY 2021.

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