Cochin International Airport Annual Reports, Balance Sheet and Financials

Cochin International Airport Limited Balance Sheet (Rs in Lakhs)

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

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

Here is a summary of the Cash Flow Statement for the years 2024 and 2023:

Cash Flow from Operating Activities

The company’s profit before tax increased to ₹59,846.56 lakhs in FY 2024 from ₹39,170.29 lakhs in FY 2023, signaling a robust improvement in profitability. This growth was supported by adjustments including a higher depreciation and amortization expense of ₹14,837.28 lakhs, up from ₹14,167.61 lakhs the previous year.

Other significant adjustments included a net loss on the sale or disposal of property, plant, and equipment amounting to ₹704.07 lakhs and provisions for gratuity and leave encashment totaling ₹808.71 lakhs, up from ₹612.51 lakhs. The company also recognized a provision for doubtful debts of ₹227.23 lakhs, reversing a prior year’s large negative adjustment.

Operating profit before working capital changes surged to ₹74,537.39 lakhs from ₹55,340.67 lakhs. This improvement in operational cash flow was partly offset by working capital adjustments, including a positive change in inventories and a negative shift in trade receivables and other current assets. The increase in trade payables and other liabilities, however, contributed positively.

After accounting for direct tax payments of ₹12,705.10 lakhs (up from ₹4,289.89 lakhs) and other operational cash flows, the net cash flow from operating activities increased to ₹59,243.46 lakhs from ₹55,981.83 lakhs. This strong operational cash flow underscores the company’s ability to generate significant cash from its core operations.

Cash Flow from Investing Activities

Investing activities showed a net cash inflow of ₹22,910.70 lakhs, a notable improvement from the outflow of ₹97,249.36 lakhs in FY 2023. This change was driven by several factors:

Investment and Redemption of Financial Instruments: The company engaged in significant investments and redemptions of mutual funds and bank deposits. The redemption of bank deposits (with maturities over three months) yielded ₹15,262.98 lakhs, and the redemption of mutual funds provided ₹18,549.33 lakhs.

Capital Expenditures: Purchases of property, plant, and equipment, including intangible assets and capital work in progress, amounted to ₹17,262.17 lakhs, up from ₹12,452.63 lakhs. Despite the substantial capital expenditure, the net inflows from financial investments were strong.

Interest Received: Interest received increased to ₹6,306.03 lakhs, compared to ₹926.14 lakhs in the previous year, providing additional cash inflow.

Cash Flow from Financing Activities

The cash flow from financing activities revealed a net outflow of ₹39,449.26 lakhs, compared to a net inflow of ₹43,428.58 lakhs in FY 2023. Key components include:

Repayments and Borrowings: There was a net repayment of term loans amounting to ₹10,654.17 lakhs and a net increase in current borrowings of ₹1,092.15 lakhs. This contrasts with the previous year 's larger inflow from share applications and rights issues.

Dividend Payments: Dividend payments increased to ₹16,514.79 lakhs, significantly higher than ₹55.05 lakhs in the prior year, reflecting a substantial outflow.

Share Capital Movements: The company had a smaller net inflow from share capital and associated transactions, including adjustments for excess share application money.

Financial Ratios of Cochin International Airport Limited

Here is a summary of the financial and operational metrics for Cochin International Airport Limited for the year 2024 & 2023:

Current Ratio: The current ratio increased to 3.48 in 2024 from 2.98 in 2023. This indicates improved short-term liquidity and financial health of the company. A current ratio above 3 suggests that the company has more than enough current assets to cover its current liabilities, signaling strong operational stability and effective management of working capital.

Debt-Equity Ratio: The debt-equity ratio decreased from 0.38 in 2023 to 0.22 in 2024. This decline demonstrates that the company has significantly reduced its reliance on debt financing relative to its equity. A lower debt-equity ratio indicates a stronger equity base and lower financial risk, which is positive for long-term financial stability and solvency.

Debt Service Coverage Ratio: The debt service coverage ratio improved from 3.05 in 2023 to 4.35 in 2024. This ratio measures the company’s ability to meet its debt obligations from its operating income. An increase in this ratio signifies a stronger ability to cover interest and principal repayments, reflecting improved cash flow and financial health.

Return on Equity (ROE) Ratio: The ROE ratio rose to 0.22 in 2024 from 0.19 in 2023. This increase indicates that the company is generating a higher return on shareholders’ equity. A higher ROE reflects effective management and profitability, suggesting that the company is providing good returns to its shareholders.

Trade Receivables Turnover Ratio: The trade receivables turnover ratio increased slightly from 6.96 in 2023 to 7.09 in 2024. This ratio measures how efficiently the company is managing its receivables. An increase indicates improved efficiency in collecting receivables and managing credit sales, which enhances cash flow and reduces the risk of bad debts.

Trade Payables Turnover Ratio: The trade payables turnover ratio slightly decreased from 5.28 in 2023 to 5.21 in 2024. This ratio reflects how quickly the company pays off its trade creditors. A small decrease suggests that the company’s payment speed to suppliers has slowed marginally, but the ratio remains healthy and indicates good supplier relationship management.

Net Capital Turnover Ratio: The net capital turnover ratio increased to 1.18 in 2024 from 1.1 in 2023. This ratio assesses the efficiency with which the company is using its capital to generate sales. A higher ratio indicates more effective use of capital in generating revenue, which implies better operational efficiency and asset utilization.

Net Profit Ratio: The net profit ratio improved from 0.35 in 2023 to 0.43 in 2024. This ratio measures the proportion of revenue that turns into profit. An increase indicates higher profitability and better cost control, showing that the company is successfully converting sales into actual profit.

Return on Capital Employed (ROCE): The ROCE ratio increased from 0.15 in 2023 to 0.21 in 2024. This ratio evaluates how efficiently a company is using its capital to generate profits. A higher ROCE indicates more efficient use of capital and enhanced profitability, reflecting positively on the company’s operational performance and investment efficiency.

Return on Investment (ROI): The ROI ratio decreased from 0.09 in 2023 to 0.07 in 2024. This ratio measures the return earned on investments relative to their cost. The decline suggests that the returns from investments have decreased relative to their cost, which may require further analysis to understand the underlying reasons and address any potential issues affecting investment performance.