Kannur International Airport Ltd Unlisted Shares
₹ 128
About Kannur International Airport Ltd Unlisted Shares
Are you looking to invest in high-growth infrastructure? Kannur International Airport Ltd (KIAL) is one of India’s most promising unlisted public companies. Promoted by the Government of Kerala, KIAL was built to serve the massive NRI population, business community, and tourists in the region.
Why Kannur Airport is a Game-Changer:
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Strategic Location: Situated in a tourist hotspot, the airport caters to a high volume of international travelers.
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Rare Achievement: Kerala is the only state in India with 4 international airports, and Kannur is the latest greenfield addition.
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Public-Private Partnership: Built on 2,300 acres and commissioned in December 2018, it operates on a modern PPP model.
Impressive Growth Story:
In just 9 months of operation, KIAL crossed 1 million passengers. According to the SBI CAPS Information Memorandum, the airport was projected to handle approximately 1.65 million international and 0.16 million domestic passengers annually. However, the actual growth has been even more remarkable, with passenger numbers increasing month-on-month since day one.
Ready to Own a Piece of Kerala’s Aviation Success?
Unlisted shares offer a unique opportunity to invest in companies before they hit the public market.
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Fundamentals
| Unlisted Shares Price | ₹ 124 Per Equity Share | Lot Size | 250 Shares |
| 52 Week High | ₹ 142 | 52 Week Low | ₹ 122 |
| Depository | NSDL & CDSL | PAN Number | AADCK8494N |
| ISIN Number | INE02Y401013 | CIN | U63033KL2009PLC025103 |
| RTA | SKDC Consultants | Market Cap (in cr.) | ₹ 1660 |
| P/E Ratio | N/A | P/B Ratio | 2.76 |
| Debt to Equity | 2.43 | ROE (%) | -18.79 |
| Book Value | 44.86 | Face Value | 100 |
| Total Shares | 133,838,900 |
Financial
| P&L Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | 78 | 113 | 99 | 191 |
| Cost of Material Consumed | 46 | 56 | 64 | 68 |
| Change in Inventory | 0 | 0 | 0 | 0 |
| Gross Margins | 41.03 | 50.44 | 35.35 | 64.4 |
| Employee Benefit Expenses | 12 | 16 | 13 | 13 |
| Other Expenses | 6 | 15 | 12 | 19 |
| EBITDA | 14 | 26 | 10 | 91 |
| OPM | 17.95 | 23.01 | 10.1 | 47.64 |
| Other Income | 0 | 5 | 2 | 5 |
| Finance Cost | 94 | 105 | 117 | 125 |
| D&A | 69 | 69 | 70 | 71 |
| EBIT | -55 | -43 | -60 | 20 |
| EBIT Margins | -70.51 | -38.05 | -60.61 | 10.47 |
| PBT | -138 | -145 | -174 | -101 |
| PBT Margins | -176.92 | -128.32 | -175.76 | -52.88 |
| Tax | -13 | -19 | -5 | -7 |
| PAT | -125 | -126 | -169 | -94 |
| NPM | -160.26 | -111.5 | -170.71 | -49.21 |
| EPS | -9.34 | -9.42 | -12.63 | -7.02 |
Financial Ratios |
2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating Profit Margin | 17.95 | 23.01 | 10.1 | 47.64 |
| Net Profit Margin | -160.26 | -111.5 | -170.71 | -49.21 |
| Earning Per Share (Diluted) | -9.34 | -9.42 | -12.63 | -7.02 |
| Assets | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Fixed Assets | 1832 | 1763 | 1695 | 1684 |
| CWIP | 24 | 40 | 55 | 3.5 |
| Investments | 0 | 0 | 0 | 0.63 |
| Trade Receivables | 19 | 19 | 16 | 11.3 |
| Inventory | 1 | 1 | 0.6 | 0.69 |
| Other Assets | 145 | 163 | 137.4 | 200.88 |
| Total Assets | 2021 | 1986 | 1904 | 1901 |
| Liabilities | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Share Capital | 1338 | 1338 | 1338.3 | 1338.38 |
| FV | 100 | 100 | 100 | 100 |
| Reserves | -449 | -575 | -744 | -838 |
| Borrowings | 1036 | 1096 | 1166 | 1216 |
| Trade Payables | 41 | 56 | 81 | 105 |
| Other Liabilities | 55 | 71 | 62.7 | 79.62 |
| Total Liabilities | 2021 | 1986 | 1904 | 1901 |
| Cash-Flow Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| PBT | -138 | -145 | -174 | -101 |
| OPBWC | 23 | 17 | 4 | 86 |
| Change in Receivables | 13 | 9 | 1.6 | 2.29 |
| Change in Inventories | 0 | 0 | 0 | -0.08 |
| Change in Payables | 9 | 15 | 25.1 | 24.29 |
| Other Changes | 8 | 19 | -9.7 | -28.5 |
| Working Capital Change | 30 | 43 | 17 | -2 |
| Cash Generated From Operations | 53 | 60 | 21 | 84 |
| Tax | -2 | -6 | -2 | -1 |
| Cash Flow From Operations | 51 | 54 | 19 | 83 |
| Purchase of PPE | -68 | -27 | -16.6 | -5 |
| Sale of PPE | 0 | 0 | 0.2 | 0 |
| Cash Flow From Investment | -66 | -26 | -6 | -1 |
| Borrowing | 0 | -6 | -11 | -1086 |
| Dividend | 0 | 0 | 0 | 0 |
| Equity | 0 | 0 | 0 | 0 |
| Others From Financing | -7 | -33 | -27 | 1018 |
| Cash Flow from Financing | -7 | -39 | -38 | -68 |
| Net Cash Generated | -22 | -11 | -25 | 14 |
| Cash at the Start | 50 | 28 | 28 | 2.4 |
| Cash at the End | 28 | 17 | 3 | 16.4 |
Promoters or Management
| Name | Designation | Experience | Linkedin Profile |
|---|---|---|---|
| Sri. Pinarayi Vijayan (CM of Kerala) | Chairman | 30+ |  |
| Sri. Dinesh Kumar C | MD | 25+ | |