| Periods | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | All Time |
|---|---|---|---|---|---|---|---|
| Primex-40 | |||||||
| Kannur International Airport Limited |
|
Particular |
31-03-2025 |
31-03-2024 |
|
Non- Current assets |
||
|
Property, Plant and Equipment |
1,68,132.27 |
1,69,427.15 |
|
Capital work-in-progress |
- |
4,861.56 |
|
Intangible assets |
233.68 |
26.09 |
|
intangible assets under development |
354.77 |
637.25 |
|
Investment in joint venture |
63.23 |
4.42 |
|
Other financial assets |
5,983.84 |
2,493.60 |
|
Deferred tax assets (net) |
8,983.84 |
8,248.82 |
|
Non-current tax assets (net) |
1,459.96 |
1,345.29 |
|
Current assets |
||
|
Inventories |
69.38 |
60.39 |
|
Trade receivables |
1,131.71 |
1,572.33 |
|
Cash and cash equivalents |
1,668.83 |
243.03 |
|
Bank balances other than above |
1,059.00 |
44.06 |
|
Other financial assets |
13.75 |
507.15 |
|
Other current assets |
955.78 |
930.21 |
|
Total Assets |
1,90,110,09 |
1,90,401.35 |
|
Equity |
||
|
Equity Share Capital |
1,33,838.90 |
1,33,838.90 |
|
Other Equity |
(83,761.97) |
(74,370.89) |
|
Non-current liabilities |
||
|
Borrowings |
1,21,281.03 |
1,12,490.23 |
|
Other financial liabilities |
2,440.93 |
1,431.91 |
|
Provisions |
314.76 |
259.43 |
|
Other non-current liabilities |
2,137.00 |
2,121.01 |
|
Current liabilities |
||
|
Short term borrowings |
332.19 |
4,071.05 |
|
Dues of micro and small enterprises |
40.01 |
95.99 |
|
Dues of other than micro and small
enterprises |
10,494.62 |
8,009.41 |
|
Other financial liabilities |
2,206.63 |
1,818.66 |
|
Other current liabilities |
744.27 |
605.24 |
|
Provisions |
41.72 |
30.41 |
|
Total equity and liabilities |
1,90,110.09 |
1,90,401.35 |
|
Particulars |
31-03-2025 |
31-03-2024 |
|
Revenue from operations |
19,093.33 |
9,923.62 |
|
Other Income |
428.81 |
238.66 |
|
Total income |
19,522.14 |
10,162.28 |
|
Expenses |
|
|
|
Airport operating expenses |
6,792.01 |
6,350.00 |
|
Employee
benefits expenses |
1,323.99 |
1,295.83 |
|
Finance costs |
12,542.54 |
11,711.93 |
|
Depreciation
and amortization expense |
7,149.59 |
6,950.50 |
|
Other
expenses |
1,882.59 |
1,218.33 |
|
Total expenses |
29,690.72 |
27,526.59 |
|
Share of profit (loss) of joint
venture |
79.11 |
0.15 |
|
Loss before exceptional items and tax |
(10,089.47) |
(17,364.16) |
|
Loss after exceptional item and
before tax |
(10,089.47) |
(17,364.16) |
|
Tax expenses/(benefit) |
|
|
|
Deferred tax |
(730.81) |
(508.29) |
|
Share of joint venture |
20.30 |
(4.27) |
|
Total tax expense/(benefit) |
(710.51) |
(512.56) |
|
Loss for the year |
(9,378.96) |
(16,851.60) |
|
Other Comprehensive Income (OCI) |
|
|
|
Items that
will not be reclassified subsequently to profit or loss |
(16.38) |
(22.67) |
|
Income tax relating to item that will
not be reclassified to profit or loss |
4.26 |
5.90 |
|
Total other comprehensive loss for the year |
(12.12) |
(16.77) |
|
Total comprehensive loss for the year |
(9,391.08) |
(16,868.37) |
|
Earnings per equity share of face
value of Rs 100/- |
|
|
|
Basic and diluted EPS |
(7.01) |
(12.59) |
|
Particular |
31-03-2025 |
31-03-2024 |
|
Cash Flow From Operating Activities |
|
|
|
Loss before tax |
(10,089.47) |
(17,364.16) |
|
Adjustments for: |
|
|
|
Depreciation of property, plant and
equipment |
7,032.99 |
6,933.75 |
|
Amortisation of intangible assets |
114.60 |
16.75 |
|
Unwinding of discount on security
deposits |
110.67 |
99.27 |
|
Share of joint venture |
(79.11) |
(0.15) |
|
Finance cost |
11,771.99 |
10,739.31 |
|
Interest income |
(239.61) |
(58.62) |
|
Income from deferred government
grants |
(43.68) |
- |
|
Loss on sale of property, plant and
equipment |
0.19 |
3.21 |
|
Fair value adjustments |
(113.70) |
(99.15) |
|
Allowance for credit impaired trade
receivables |
109.77 |
195.11 |
|
Reversal of provision for impairment
on debtors |
- |
(47.72) |
|
Operating Profit/(loss) before
Working Capital Changes |
8,576.64 |
417.60 |
|
Working capital Adjustments for: |
|
|
|
(Increase) / Decrease in Trade receivables |
229.87 |
161.60 |
|
Increase / (Decrease) in Trade payables |
2,429.23 |
2,510.72 |
|
(Increase) / Decrease in other financial assets |
(2,996.84) |
529.02 |
|
Increase / (Decrease) in other financial
liabilities |
1,099.46 |
(1,727.40) |
|
(Increase) / Decrease in other current assets |
(25.57) |
(15.04) |
|
(Increase) / Decrease in Bank balances other than
cash and cash equivalents |
(1,014.94) |
236.66 |
|
(Increase) / Decrease in inventories |
(8.99) |
3.21 |
|
Increase / (Decrease) in other current
liabilities |
66.87 |
(9.33) |
|
Increase / (Decrease) in provisions |
50.26 |
46.93 |
|
Cash
generated from operations |
8,405.99 |
2,153.88 |
|
Income tax paid (net) |
(114.67) |
(240.88) |
|
Net cash flow from (used in) /
generated from operating activities |
8,291.32 |
1,913.00 |
|
Cash Flow From Investing Activities |
|
|
|
Payments from property, plant and
equipment |
(264.02) |
(1,669.17) |
|
Payments for intangible assets |
(221.21) |
(25.21) |
|
Interest received |
239.61 |
58.62 |
|
Government grants towards purchase of
equipment |
134.86 |
1000.00 |
|
Net Cash Flow Used In Investing
Activities |
(110.76) |
(635.76) |
|
Cash Flow From Financing Activities |
|
|
|
Loan received from REC limited |
1,10,313.22 |
- |
|
Loan received from government of kerala |
3,313.85 |
7,986.15 |
|
Repayment of borrowings from bank |
(1,08,575.13) |
(1,081.97) |
|
Interest paid |
(11,806.70) |
(10,731.47) |
|
Net Cash Flow Generated From
Financing Activities |
(6,754.76) |
(3,827.29) |
|
Net (Decrease)/ Increase in Cash and
Cash Equivalents |
1,425.80 |
(2,550.05) |
|
Opening balance of cash and cash
equivalents |
243.03 |
2,793.08 |
|
Closing balance of cash and cash equivalents |
1,668.83 |
243.03 |
Summary of the Cash
Flow Statement for the years 2025 and 2024
Operating Activities
In FY25, net cash from operating activities improved sharply to ₹8,291 lakh from ₹1,913 lakh in FY24. This turnaround came despite a loss before tax
of ₹10,089 lakh (vs. ₹17,364 lakh in FY24), supported by
large non-cash adjustments such as depreciation (₹7,033 lakh) and finance costs (₹11,772 lakh). Working capital changes also contributed positively,
with higher trade payables (₹2,429 lakh)
and lower receivables (₹230 lakh),
though increases in other financial assets (₹2,997 lakh) and bank balances (₹1,015 lakh) partially offset the gains. Overall, the company
generated strong operating cash, mainly due to add-backs and working capital
adjustments rather than profitability.
Investing Activities
Cash used in investing activities was minimal at ₹111 lakh in FY25 compared to ₹636
lakh in FY24. The lower outflow was due to reduced capital expenditure on
property, plant and equipment (₹264 lakh
vs. ₹1,669 lakh earlier). Government
grants fell to ₹135 lakh (vs. ₹1,000 lakh in FY24), while interest
income rose to ₹240 lakh. This
indicates a slowdown in expansion-related spending.
Financing Activities
Financing activities resulted in a net cash outflow of ₹6,755 lakh in FY25 against ₹3,827 lakh in FY24. The company raised
significant borrowings, including ₹1,10,313
lakh from REC Limited and ₹3,314
lakh from the Government of Kerala, but these were almost entirely offset
by large debt repayments (₹1,08,575 lakh)
and interest payments (₹11,807 lakh).
This heavy debt servicing continues to pressure cash flows.
Net Movement in Cash and
Cash Equivalents
Overall, the company recorded a net
increase in cash and cash equivalents of ₹1,425.80 lakhs in FY 2025,
reversing the decline of ₹2,550.05 lakhs in FY 2024. The opening cash balance
was ₹243.03 lakhs, which rose to a closing
balance of ₹1,668.83 lakhs as of 31st March 2025.
|
Particular |
31-03-2025 |
31-03-2024 |
|
Current Ratio |
0.35 |
0.23 |
|
Debt Equity Ratio |
2.43 |
1.96 |
|
Return on Equity Ratio |
(0.04) |
(0.06) |
|
Trade receivable turnover ratio |
14.12 |
5.75 |
|
Trade payables turnover ratio |
0.51 |
0.36 |
|
Net Capital Turnover Ratio |
(1.07) |
(0.44) |
|
Net Profit/(loss) Ratio |
(0.49) |
(1.70) |
|
Return on Capital Employed |
0.01 |
(0.03) |
Summary of the
financial ratio for the years 2025 and 2024
Current Ratio
The current ratio improved slightly from 0.23 in FY24 to 0.35 in FY25, but it remains well below the
standard benchmark of 1–2. This shows that the company’s current assets are
still not enough to cover its short-term liabilities, reflecting weak liquidity
and a dependence on external funding to manage day-to-day operations.
Debt-Equity Ratio
The debt-equity ratio increased from 1.96 in FY24 to 2.43 in FY25, highlighting a heavier reliance on
borrowings. A ratio above 2 generally signals higher financial risk, and this
rising trend indicates that the company’s capital structure is becoming more
debt-heavy, which could strain its ability to raise funds in the future.
Return on Equity (ROE)
ROE remained negative but improved marginally from –0.06 in FY24 to –0.04 in FY25. This means the company is still
destroying shareholder value, though the reduction in losses indicates a slow
movement toward recovery.
Trade Receivables
Turnover Ratio
The ratio rose significantly from 5.75
in FY24 to 14.12 in FY25, showing much better efficiency in collecting
receivables from customers. Faster collection helps strengthen cash flows and
reduces credit risk, marking a positive trend.
Trade Payables Turnover
Ratio
This ratio improved from 0.36 in
FY24 to 0.51 in FY25, which indicates that the company is paying its
suppliers more quickly than before. While this strengthens supplier
relationships, it also reduces the available credit period and may put pressure
on cash reserves.
Net Capital Turnover
Ratio
The net capital turnover ratio worsened from –0.44 in FY24 to –1.07 in FY25, reflecting inefficient utilization
of working capital. A negative ratio highlights that the company is unable to
generate sales from the capital employed in operations.
Net Profit/(Loss) Ratio
The net profit ratio, although still negative, improved from –1.70% in FY24 to –0.49% in FY25. This
indicates that losses have reduced significantly, suggesting better cost
control or higher revenue, and points toward gradual improvement in
profitability.
Return on Capital
Employed (ROCE)
ROCE turned slightly positive at 0.01
in FY25 compared to –0.03 in FY24.
This is a small but encouraging sign that the company has started to generate a
return on its overall capital, though efficiency and profitability remain weak.
