Kannur International Airport Unlisted Shares
Kannur International Airport Limited runs the international airport at Mattannur in Kannur, Kerala. The Government of Kerala is its largest shareholder, and it earned ₹19,093.33 lakh of revenue from operations in FY25.
Read the full company profile
Key facts
Kannur International Airport share details
- Lot size
- 250 shares
- Min. investment
- ₹30,500
- Face value
- ₹100
- Implied market cap
- ₹1,633 Cr
- Shares outstanding
- 133,838,900
- Founded
- 2009
- Headquarters
- Mattannur, Kannur, Kerala
- Website
- kannurairport.aero
- ISIN
- INE02Y401013
- CIN
- U63033KL2009PLC025103
- Lock-in after IPO
- 6 months
Price history
Kannur International Airport share price chart
1Y change
-2.40%
High
₹130
Low
₹118
Indicative off-market dealer quotes, not exchange prices. A flat stretch means the quote did not change on those days.
About
About Kannur International Airport
Kannur International Airport Limited (KIAL) was incorporated on 3 December 2009 to design, finance, build, operate and maintain an international airport at Kannur, Kerala. Its registered office is at Mattannur, Kannur. The airport started commercial operations on 9 December 2018.
The company earns from airlines and passengers. Its operating revenue has two parts: aero revenue (landing, parking and passenger-related charges) and non-aero revenue (rentals, concessions and similar income). In FY25, aero revenue was ₹16,015.36 lakh and non-aero revenue was ₹2,577.28 lakh, as per its annual report.
The numbers here are standalone figures from the FY25 annual report. Revenue from operations grew from ₹9,923.62 lakh in FY24 to ₹19,093.33 lakh in FY25. The company still reported a loss for the year of ₹9,437.77 lakh in FY25, against ₹16,856.02 lakh in FY24. Finance costs of ₹12,542.54 lakh and depreciation of ₹7,149.59 lakh are the big reasons, because the airport was built largely with borrowed money. Total borrowings (long term and short term) stand on the balance sheet at ₹121,281.03 lakh non-current and ₹332.19 lakh current.
Ownership is spread among the state, public sector bodies and individuals. As at 31 March 2025 the Government of Kerala, the only promoter, held 39.23% of the equity. Bharat Petroleum Corporation Limited held 16.20%, M A Yusufali 8.59% and the Airports Authority of India 7.47%. The Chief Minister of Kerala is the Chairman of the Board and Dinesh Kumar C is the Managing Director.
KIAL has not filed a DRHP with SEBI as far as our data shows, and there is no linked IPO on IPO Guru. Unlisted shares of a company like this are dealt off-market between buyers and sellers, so the indicative price shown on this page (₹119 per share, lot of 250) is only a guide and not an exchange price. The shares have a face value of ₹100.
Strengths
- Revenue from operations nearly doubled from ₹9,923.62 lakh in FY24 to ₹19,093.33 lakh in FY25, as per the standalone financials.
- Operating cash flow turned strongly positive: net cash from operating activities was ₹8,291.32 lakh in FY25, against ₹1,913.00 lakh in FY24.
- The loss narrowed in FY25: loss for the year was ₹9,437.77 lakh, down from ₹16,856.02 lakh in FY24, and loss per share improved from ₹12.59 to ₹7.05.
- Shareholders include the Government of Kerala (39.23%), Bharat Petroleum Corporation Limited (16.20%) and the Airports Authority of India (7.47%), which also nominate directors to the Board.
- Revenue is diversified between aero revenue of ₹16,015.36 lakh and non-aero revenue of ₹2,577.28 lakh in FY25.
- The company owns 1192.54 acres of freehold land at the airport, as disclosed in the notes to the FY25 accounts.
Risks
- The company is loss making. It reported a loss for the year of ₹9,437.77 lakh in FY25 and ₹16,856.02 lakh in FY24.
- Borrowings are heavy: non-current borrowings were ₹121,281.03 lakh against total equity of ₹50,247.70 lakh at 31 March 2025.
- Finance costs of ₹12,542.54 lakh in FY25 are far larger than the ₹19,093.33 lakh revenue base can comfortably carry, which keeps pressure on profits.
- Net worth has fallen: total equity went from ₹59,697.59 lakh at 31 March 2024 to ₹50,247.70 lakh a year later because of continued losses.
- The annual report notes that the lease for 353.98 acres of land occupied by the company is yet to be finalised by the Government of Kerala, and its value is not accounted for in the books.
- The company has made a provision of ₹627.60 lakh for receivables from Go Airlines (India) Limited after that airline stopped operations, showing exposure to airline failures.
- The annual report mentions that foreign airlines have not operated from the airport because Point of Call status has not been awarded, which limits international traffic.
- Unlisted shares are not traded on an exchange, so the indicative price can differ from what a deal actually gets done at, and exit is harder than for listed shares.
Financials
Kannur International Airport financial performance
Revenue, profit and balance-sheet figures by fiscal year.
Revenue & PAT (₹ Cr)
Revenue
PAT
| Metric | FY25Latest | FY24 |
|---|---|---|
| Revenue (₹ Cr) | 191 | 99 |
| PAT (₹ Cr) | -94 | -169 |
| PAT Margin (%) | -49.43 | -169.85 |
| RoNW (%) | -18.78 | -28.24 |
| EPS (₹) | -7.05 | -12.59 |
| Total Assets (₹ Cr) | 1,903 | 1,906 |
| Net Worth (₹ Cr) | 502 | 597 |
Swipe the table sideways for earlier years →
Leadership
Management team
Shri. Pinarayi Vijayan
Chairman
Chief Minister of Kerala and Chairman of the Board.
Shri. Dinesh Kumar C
Managing Director
Managing Director of the company.
S. Jayakrishnan
Chief Financial Officer
Key managerial personnel as per the FY25 annual report.
Aby Eapen
Company Secretary
Key managerial personnel as per the FY25 annual report.
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Important disclaimer
Unlisted shares are not traded on stock exchanges. Prices shown are indicative and based on off-market transactions; they may differ from eventual listing or future market prices. Exit liquidity depends on counter-party availability. SEBI mandates a 6-month lock-in on pre-IPO shares post-listing. Gains held beyond 24 months are taxed at 12.5% LTCG (no indexation). IPO Guru is not a SEBI Registered Investment Advisor. Information here is for general awareness, not personalised investment advice. Please consult your tax advisor before investing.
