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×

Cochin International Airport Annual Reports, Balance Sheet and Financials

Cochin International Airport Limited (CIAL) Return Comparision with Primex 40 Index

Periods 1 Week 1 Month 3 Months 6 Months 1 Year 3 Years All Time
Primex-40
Cochin International Airport Limited

Cochin International Airport Limited Balance Sheet (Rs. In Lakhs)

PARTICULARS

2023

2022

2021

ASSETS

 

 

 

Non-Current Assets

 

 

 

a. Property, plant and equipment

2,07,540.74

2,13,085.31

2,09,299.21

b. Capital work in progress

11,277.39

9,036.14

18,704.78

c. Intangible assets

77.98

98.76

125.55

d. Financial assets

 

 

 

(i) Investments

1,008.62

1,007.21

127.64

(ii) Other Financial Assets

2541.78

342.99

656.39

e. Income tax assets (net)

2,013.36

2,609.52

2,241.32

f. Other non-current assets

2504.63

302.45

249.17

Current Assets

 

 

 

a. Inventories

5,534.57

2,159.81

1,579.56

b. Financial assets

 

 

 

(i)  Investments

18603.36

0

 

(ii) Trade Receivables

10,056.84

9,320.64

5,495.87

(iii) Cash & Cash equivalents

4,606.78

1,381.71

1,258.90

(iv) Bank Balances other than (iii)

72,149.28

8,243.04

8,039.93

(v) Loans

0.09

0

 

(vi) Other financial assets

1428.7

270.3

1,480.18

c. Income Tax Asset (net)

0

68.73

1.17

d. Other current assets

3,733.55

3,327.93

3,286.14

Total Assets

3,43,077.67

2,51,254.56

2,52,545.82

EQUITY & LIABILITIES

 

 

 

Equity

 

 

 

a. Equity Share Capital

38,257.47

38,257.47

38,257.47

b. Other Equity

1,73,296.38

96,434.09

93,200.14

Equity attributable to owners of the company

2,11,553.86

1,34,691.57

1,31,457.62

Non-Controlling Interest

2.44

1.46

1.37

Total Equity

2,11,556.30

1,34,693.03

1,31,458.99

Liabilities

 

 

 

Non-Current Liabilities

 

 

 

a. Financial Liabilities

 

 

 

(i) Borrowings

56,018.96

61,172.21

56,241.80

(ii) Other financial liabilities

5,193.24

5,501.28

5,878.61

b. Provisions

3,277.35

5,164.01

4,462.13

c. Deferred tax liabilities (net)

10,588.64

5,718.35

4,610.09

d. Other non-current liabilities

16,062.60

15,547.59

17,589.48

Current Liabilities

 

 

 

a. Financial Liabilities

 

 

 

(i) Borrowings

11,378.78

6,837.48

10,025.42

(ii) Trade Payables -

 

 

 

a) Total outstanding dues of Micro, Small and Medium Enterprises

823.63

180.16

6.14

b) Total outstanding dues of creditors other than Micro, Small and Medium Enterprises

5,003.98

3,391.36

1,752.52

(iii) Other financial liabilities

16,864.44

8,958.39

16,758.78

b. Other current liabilities (net)

3,883.31

3,173.79

3,168.25

c. Provisions

2426.44

916.92

593.6

Total Equity and Liabilities

3,43,077.67

2,51,254.56

2,52,545.82

 

Cochin International Airport Limited Profit & Loss Statement (Rs. In Lakhs)

PARTICULARS

2023

2022

2021

Income

     

Revenue from Operations

93,963.60

50,230.06

26,758.75

Other Income

1,519.40

2,189.93

2,906.44

Total Revenue

95483

52420

29665.2

Expenses:

     

Purchase of Stock in Trade

14,507.20

7,057.91

847

Change in Inventories of stock in trade

-3342.5

-559.36

1,571.22

Employee Benefits Expenses

12,850.04

10,705.18

9,493.72

Finance Costs

4,483.83

5,493.91

5,612.21

Depreciation and amortisation expenses

14,167.61

14,536.86

14,107.32

Other Expenses

13,647.94

10,329.13

10,336.88

Total Expenses

56314.12

47563.63

41968.34

Profit / (loss) before exceptional items and tax

39168.88

4856.37

-12303.14

Exceptional Items

0

0

0

Profit before tax

39168.88

4856.37

-12303.14

Tax expense:

     

a. Current tax

4965.5

126.77

114.28

b. MAT Credit Entitlement

-280.94

-104.17

-114.3

c. Tax expenses of earlier years

-10.72

-0.01

-22.76

d. Deferred tax

5,220.63

1,334.78

-2,992.91

 

9,894.47

1,357.37

-3,015.70

Profit for the period (V - VII)

29274.41

3499

-9287.45

Other comprehensive income

     

- Items that will not be reclassified to Consolidated Statement of Profit or Loss

-303.5

-462.88

274.21

(Re-measurement of defined employee benefit plans)

     

- Income tax relating to items that will not be reclassified to Consolidated Statement of Profit or Loss

70.38

124.76

-71.39

Total comprehensive income for the period

29,041.29

3,160.87

-9,084.63

(Profit / Loss + Other Comprehensive Income)

     

Profit for the year attributable to:

     

Owners of the Company

29,273.42

3,498.91

-9,286.29

Non-Controlling Interests

0.98

0.09

-1.16

 

29,274.41

3,499.00

-9,287.45

Share of Profit / (Loss) of Associate Company

1.41

-2.43

0

Other Comprehensive Income attributable to:

     

Owners of the Company

-233.12

-338.13

202.82

Non-Controlling Interests

0

0

0

 

-233.12

-338.12

202.82

Total Other Comprehensive Income attributable to:

     

Owners of the Company

29,041.72

3,158.35

-9,083.47

Non-Controlling Interests

0.98

0.09

-1.16

 

29,041.29

3,160.87

-9,084.63

Earnings per equity share

     

Nominal Value of Share Rs.10 (Rs.10/-)

     

a. Basic

7.59

0.83

-2.37

b. Diluted

7.59

0.83

-2.37

 

Cochin International Airport Limited Consolidated Cash Flow Statement (Rs. In Lakhs)

 

PARTICULARS

2023

2022

2021

A. Cash Flow from Operating Activities

 

 

 

Profit before tax

39,168.88

4,856.37

-12,303.14

Adjustments for :

 

 

 

Provision for Tax

-9,894.47

-1,357.37

3,015.70

Depreciation

14,120.97

14,492.02

13,993.07

Amortisation

46.64

44.84

55.65

Fixed assets written off

-

0.04

0.09

Loss / (Profit) on sale of fixed assets (Net)

-9.73

-0.04

-6.82

Fair Value Gain on Financial Instruments recognised through P & L

-227.9

-484.24

-383.55

Unwinding of discount

227.9

484.24

383.55

OCI

-233.12

-338.12

202.82

Deferred Government grant

-141.55

-141.55

-172.67

Tax Expense for early years

4673.84

22.59

-22.79

Deferred Tax

4,870.28

1,108.26

-3,036.59

Re-measurements of defined benefit Plans

612.51

917.2

863.71

Unrealised Foreign Exchange Loss / (Gain)

-

-23.39

92.05

Provision for Doubtful Debts and Advances

-1642.4

560.64

-

Reversal of Provision no longer required

-

-7.42

-

Interest Income

-1068.08

-520.63

-617.9

Dividend Income

-2.5

-

-

Interest and Finance Charges

4,255.94

5,009.67

5,228.66

Sub-total

15,588.34

19,766.72

19,594.97

Operating Profit before working capital changes

54,757.21

24,623.09

7,291.83

Adjustments for :

 

 

 

(Increase) / Decrease in Inventories

-3374.76

-580.25

1596.68

(Increase) / Decrease in Trade Receivables

906.20

-4,275.48

1,878.53

(Increase) / Decrease in Repayments and Other Receivables

-1,591.81

1,202.48

4,033.60

Increase / (Decrease) in Trade Payable / Other Liabilities

17,876.51

-4,631.68

-17,110.01

 

13,816.14

-8,284.93

-9,601.20

Cash Generated from Operations

68,573.36

16,338.16

-2,309.37

Direct Tax (payments) / refunds (net)

-4008.95

-458.35

5232.69

Net Cash Flow from Operating Activities

64,564.41

15,879.81

2,923.32

B. Cash Flow from Investing Activities

 

 

 

Share Application Money pending allotment

47,821.85

-

-

Purchase of Fixed Assets including capital work in progress

-12452.63

-10,197.45

-15,806.77

Sale of Fixed Assets

48.46

5.07

72.6

Investment in Equity Shares

-1.41

-879.57

-26.66

Investment in Mutual Funds / State Government Treasury deposits

-18603.36

-

-

Deposits in Bank

-9754.9

-671.89

-1222.67

Interest Received

926.14

670.95

657.94

Dividend Received

2.50

-

-

Net Cash Flow from Investing Activities

7986.65

-11,072.89

-16,325.56

C. Cash Flow from Financing Activities

 

 

 

Interest Paid

-4,251.43

-5,024.25

-5,230.79

Increase / (Decrease) of Term Loan

-5153.25

4,930.41

3,501.88

Demand loan taken

-

-

-1,200.00

Dividend paid including dividend tax (Unclaimed dividends)

-55.05

-29.8

-10094.28

Net Cash Flow from Financing Activities

-9,459.74

-123.64

-13023.18

Net increase in Cash and Cash Equivalents

63091.32

4,683.28

-26,425.42

Cash and Cash Equivalents at beginning of the year, the components being:

 

 

 

Cash on hand

6.02

5.31

7.56

Balances with Banks on current accounts and fixed deposit accounts

1,822.60

2,464.30

20,260.79

Bank Overdrafts

-4,701.15

-10,025.42

-1,380.38

 

-2872.54

-7,555.81

18,887.97

Cash and Cash Equivalents at end of the year, the components being:

 

 

 

Cash on hand

6.04

6.02

5.31

Balances With banks on current accounts and fixed deposit accounts

61,397.77

1,822.60

2,482.66

Bank Overdrafts

-1185.03

-4,701.15

-10,025.42

Effect of exchange rate fluctuation on Bank Balances denominated in Foreign Currency

-

-

-

 

60,218.78

-2,872.54

-7,537.45

Net Increase / (decrease) as disclosed above

63,091.32

4,683.27

-26,425.42

 

Let 's break down the Cash Flow Statement of Cochin International Airport Limited for the years 2023, 2022, and 2021, activity-wise:

 

A. Cash Flow from Operating Activities:

 

1. Profit before tax:

   - In 2023, the company reported a substantial profit before tax of 39,168.88, marking a significant improvement compared to the previous years (2022: 4,856.37, 2021: -12,303.14).

 

2. Adjustments (Positive/Negative):

   - The operating profit was adjusted for various factors such as provisions, depreciation, fair value gains, tax expenses, and interest income. These adjustments play a crucial role in reflecting the company 's true operational cash flow.

 

3. Operating Profit before working capital changes:

   - The operating profit before considering working capital changes showed a robust performance in 2023, reaching 54,757.21, compared to 24,623.09 in 2022 and 7,291.83 in 2021.

 

4. Cash Generated from Operations:

   - The cash generated from operations exhibited a remarkable improvement in 2023, totalling 68,573.36. This contrasts with 16,338.16 in 2022 and a negative figure of -2,309.37 in 2021, indicating a significant turnaround in operational cash flow.

 

 B. Cash Flow from Investing Activities:

 

1. Net Cash Flow:

   - Investing activities in 2023 resulted in a positive cash flow of 7,986.65, a noteworthy change from the negative cash flows in 2022 (-11,072.89) and 2021 (-16,325.56). This suggests a more favorable investment situation or perhaps asset sales contributing to positive cash flow.

 

 C. Cash Flow from Financing Activities:

 

1. Net Cash Flow:

   - Financing activities showed a net outflow of cash in 2023, amounting to -9,459.74, primarily driven by interest payments, changes in term loans, and dividend distributions. This negative trend in financing activities contrasts with the relatively minor outflows in 2022 (-123.64) and 2021 (-13,023.18).

 

 Net Increase in Cash and Cash Equivalents:

   - The overall net increase in cash and cash equivalents for 2023 was substantial at 63,091.32, indicating a robust financial performance and improved liquidity compared to the previous years (2022: 4,683.28, 2021: -26,425.42).

 

Cash and Cash Equivalents at the end of 2023:

   - Detailed components of cash and cash equivalents at the end of 2023 include 6.04 in cash on hand, 61,397.77 in balances with banks, and a bank overdraft of -1,185.03. The impact of exchange rate fluctuation on foreign currency-denominated bank balances is not specified.

 

Cochin International Airport Limited Financial Ratios for the year 2023:

Particulars

2021

EBITDA

 -89.67 %

Net-worth

 -12.90 %

Debt/Equity Ratio

0.47

Return on Equity

-0.0686

Total Assets

 -12.03 %

Fixed Assets

 -1.32 %

Current Assets

 -62.42 %

Current Liabilities

 -28.54 %

Trade Receivables

 -53.68 %

Trade Payables

 -8.40 %

 

Let’s break down and analyze each of these financial indicators of Cochin International Airport Limited for the year 2023:

 

 1. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization):

 

- EBITDA Margin:

EBITDA is reported at -89.67%. A negative EBITDA margin indicates that the company 's operating expenses and debt obligations are higher than its operating income. This could be a sign of financial distress or operational inefficiencies.

 

 2. Financial Health and Leverage Ratios:

 

- Net-worth:

The Net-worth is reported at -12.90%, indicating that the company 's liabilities exceed its assets. A negative net worth is a concerning sign, suggesting that the company 's liabilities are greater than its total assets.

 

- Debt/Equity Ratio:

The Debt/Equity Ratio is reported at 0.47, which signifies that the company has a moderate level of debt in relation to its equity. This ratio indicates the proportion of debt used to finance the company 's assets relative to shareholders ' equity.

 

- Return on Equity (ROE):

The Return on Equity is reported at -0.0686, implying a negative return. A negative ROE suggests that the company did not generate positive returns for its shareholders during the period.

 

 3. Asset and Liability Metrics:

 

- Total Assets:

Total Assets are reported at -12.03%, indicating a decline in the overall value of the company 's assets. This could be attributed to various factors such as depreciation, write-offs, or impairment of assets.

 

- Fixed Assets:

Fixed Assets are reported at -1.32%, indicating a decrease in the value of the company 's long-term assets. This could be due to factors such as depreciation, sale of assets, or write-downs.

 

- Current Assets:

Current Assets are reported at -62.42%, suggesting a significant reduction in the value of short-term assets. This may be due to a decrease in cash, receivables, or inventory.

 

- Current Liabilities:

Current Liabilities are reported at -28.54%, indicating a decline in the company 's short-term obligations. This could be due to the reduction of short-term debts or payables.

 

 4. Trade Receivables and Trade Payables:

 

- Trade Receivables:

Trade Receivables are reported at -53.68%, indicating a substantial decrease in the value of amounts owed to the company by customers. This could be due to improved credit control or write-offs of bad debts.

 

- Trade Payables:

Trade Payables are reported at -8.40%, suggesting a decrease in the company 's short-term liabilities to suppliers. This may be due to improved payment terms or a reduction in purchases on credit.

 

Dividend History of Cochin International Airport Limited:

Particulars

2023

2022

2021

Dividend (final + interim) (In Rs.)

3.50

-

-

 

Annual Report

Cochin International Airport Ltd Annual Report 2022-23

Download

CIAL Annual Report 2021-22

Download

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