
About Cochin International Airport Limited (CIAL)
Company profile and FY2025-26 performance data. All figures sourced from CIAL's 32nd Annual Report for the year ended 31 March 2026.
Cochin International Airport Limited (CIAL) owns and operates Cochin International Airport at Nedumbassery, Kochi — Kerala's busiest airport and one of India's leading gateways for international traffic.
Incorporated in 1994, CIAL was the first greenfield airport in India developed under a public-private partnership model, built without central government funding. Its equity was raised from the public — including a large base of non-resident Keralites in the Gulf, local businesses and individual investors. The Government of Kerala is the promoter with a 33.38% shareholding; the balance is held by more than 18,000 private and NRI shareholders. The company is a public limited company but is not listed on any stock exchange.
The airport commenced commercial operations in 1999. In 2015 it became the world's first fully solar-powered airport, a distinction recognised with the United Nations' Champion of the Earth award.
CIAL operates three passenger terminals, a dedicated cargo terminal and a business jet terminal, and is served by over 25 airlines connecting Kochi to more than 30 international and 25 domestic destinations.
Legal name | Cochin International Airport Limited |
CIN | U63033KL1994PLC007803 |
Incorporated | 1994 |
Registered office | Room No. 35, 4th Floor, GCDA Commercial Complex, Marine Drive, Cochin – 682 031, Kerala |
Website | |
Airport codes | COK (IATA) / VOCI (ICAO) |
Chairperson | Shri. V. D. Satheesan |
Managing Director | Shri. S. Suhas, IAS |
Executive Director & CFO | Shri. Saji Daniel |
Company Secretary | Shri. Rajiv K. |
Statutory Auditors | M/s. Varma & Varma, Chartered Accountants |
Equity shares outstanding | 47,82,18,400 shares of ₹10 each |
Paid-up share capital | ₹478.22 crore |
Promoter | Government of Kerala – 33.38% |
Employees (as at 31.03.2026) | 544 (423 male, 121 female) |
Particulars | FY2025-26 | FY2024-25 | Change |
|---|---|---|---|
Total Income | ₹1,219.96 cr | ₹1,142.17 cr | +6.81% |
Operating Expenditure | ₹374.62 cr | ₹320.10 cr | — |
Operating Profit (EBITDA) | ₹845.34 cr | ₹822.07 cr | +2.83% |
Cash Profit | ₹816.73 cr | ₹786.42 cr | +3.85% |
Profit Before Tax | ₹674.66 cr | ₹657.56 cr | +2.60% |
Profit After Tax | ₹502.21 cr | ₹489.85 cr | +2.52% |
FY2025-26 marked CIAL's highest-ever gross income and its first-ever annual profit above ₹500 crore.
Particulars | FY2025-26 | FY2024-25 | Change |
|---|---|---|---|
Revenue from Operations | ₹1,401.49 cr | ₹1,309.95 cr | +6.99% |
Total Income | ₹1,492.22 cr | ₹1,402.30 cr | +6.41% |
EBITDA | ₹906.58 cr | ₹880.66 cr | +2.94% |
Profit Before Tax | ₹709.55 cr | ₹692.80 cr | +2.42% |
Profit After Tax | ₹526.75 cr | ₹515.54 cr | +2.17% |
Earnings Per Share | ₹11.01 | ₹10.78 | +2.13% |
Particulars | As at 31.03.2026 |
|---|---|
Net Worth | ₹2,791.74 cr |
Total Assets | ₹3,670.82 cr |
Cash and Bank Balances | ₹935.64 cr |
Total Borrowings | ₹276.98 cr |
Net Cash Position | ₹658.66 cr |
Return on Equity | 18.0% |
Book Value per Share | ₹58.38 |
The Board has recommended a dividend of 55% on the paid-up value of equity shares (₹5.50 per share) for FY2025-26, subject to shareholder approval at the Annual General Meeting. The total dividend outgo is ₹263.02 crore, representing a payout ratio of approximately 52% of standalone profit after tax.
Sector | FY2025-26 | FY2024-25 | Change |
|---|---|---|---|
International | 54,01,939 | 52,69,721 | +2.51% |
Domestic | 60,40,644 | 59,26,244 | +1.93% |
Total | 1,14,42,583 | 1,11,95,965 | +2.20% |
CIAL handled over one crore passengers for the fourth consecutive year.
Sector | FY2025-26 | FY2024-25 | Change |
|---|---|---|---|
International | 31,505 | 31,820 | −0.99% |
Domestic | 41,629 | 44,248 | −5.92% |
Total | 73,134 | 76,068 | −3.86% |
Aeronautical revenue: ₹742.30 crore (65%)
Source | ₹ crore |
|---|---|
User Development Fee | 235.99 |
Landing Fee | 190.93 |
Royalty | 129.79 |
Inline X-Ray Screening Charges | 61.81 |
Cargo Operations | 52.84 |
CUTE Charges | 52.02 |
Aerobridge Charges | 16.14 |
Parking & Housing Fee | 2.77 |
Non-aeronautical revenue: ₹399.11 crore (35%)
Source | ₹ crore |
|---|---|
Rent & Services | 273.81 |
Concessionaire income from CDRSL | 116.68 |
Trade Fair Centre | 3.62 |
Golf Course and related facilities | 3.17 |
Security Training Fees | 1.47 |
Royalty and other income | 0.36 |
CIAL operates through four subsidiaries and one associate company.
Entity | Holding | Business | FY26 Turnover | FY26 PAT |
|---|---|---|---|---|
CIAL Dutyfree and Retail Services Ltd (CDRSL) | 99.90% | Duty-free and travel retail | ₹333.20 cr | ₹2.55 cr |
CIAL Infrastructures Ltd (CIL) | 99.99% | Infrastructure, tourism and power projects | ₹42.74 cr | ₹11.05 cr |
Cochin International Aviation Services Ltd (CIASL) | 99.99% | MRO and aviation training | ₹39.86 cr | ₹14.34 cr |
Air Kerala International Services Ltd (AKISL) | 99.99% | Proposed low-cost carrier | — | (₹0.01 cr) |
Kerala Waterways and Infrastructures Ltd (KWIL) | 49.99% | Associate — inland waterways | — | — |
CIASL holds maintenance approvals from DGCA India, EASA, GCAA UAE and several other civil aviation regulators, and operates two narrow-body hangars certified for C-check maintenance on Airbus A320-family and Boeing 737 aircraft in partnership with Airworks India. It is an accredited Airports Council International (ACI) training partner.
CDRSL was formed in 2016 to expand duty-free and travel retail operations beyond Cochin Airport to multiple international travel locations.
CIL undertakes infrastructure and tourism projects, and operates the group's renewable energy assets.
CIAL became the world's first fully solar-powered airport in 2015 and remains one of Kerala's significant renewable energy producers.
Solar capacity: 50 MWp total — 38.5 MWp at CIAL premises and 11.5 MWp at Payyannur
Hydro capacity: 4.5 MW Arippara Small Hydro Electric Plant, Kozhikode district
FY26 solar generation billed: 475.49 lakh units
FY26 hydro generation: 13.542 million units
CO₂ emissions avoided in FY26: 35,021 metric tonnes
Energy efficiency measures undertaken during the year included the upgrade of high-mast fixtures to LED lighting, installation of BLDC-motor air handling units in the terminal, EV charging infrastructure on the airside, and the ongoing installation of Ground Power Units and Pre-Conditioned Air systems for aircraft.
IGBC Net Zero Energy (Operations) Pre-Certified Rating
ACI Green Airports Recognition (GAR) Silver Award 2025 — for the Payyannur solar power plant
Kerala Management Association Award for Exemplary CSR Project (Environment Category) 2026
Second Prize, Kerala State Pollution Control Board Award 2025 (Airport Category)
CIAL spent ₹16.76 crore on CSR activities during FY2025-26 against a statutory allocation requirement of ₹15.75 crore, covering both ongoing and one-time projects. The company complied fully with Section 135 of the Companies Act, 2013.
CIAL 2.0 — a digital transformation programme covering AI-enabled operations, automation, full-body scanners, tray retrieval systems and cybersecurity.
International terminal expansion — an ongoing programme to expand built-up area and add aerobridges at Terminal 3. Capital work in progress stood at ₹224.09 crore as at 31 March 2026, with capital commitments of ₹815.94 crore.
Airport consultancy — in August 2026 the Board approved CIAL's entry into airport consultancy services, offering master planning, runway development, cargo infrastructure, ground handling, duty-free operations, commercial development and real estate management to airports across India.
Aviation business park — inaugurated during the year at CIASL, comprising co-working spaces, training classrooms and supporting facilities.
Financial and operational data as reported in CIAL's audited standalone and consolidated financial statements for the year ended 31 March 2026. The statutory auditors issued an unmodified opinion with no qualification, reservation or adverse remark
| Particulars | FY23 | FY24 | FY25 | FY26Latest |
|---|---|---|---|---|
| Revenue | 940 | 1,158 | 1,310 | 1,401.5▲7% |
| EBITDA | 563 | 722 | 789 | 816▲3% |
| OPM (%) | 59.89 | 62.35 | 60.23 | 58.19▼3% |
| PBT | 391 | 599 | 693 | 710▲2% |
| PAT | 292 | 448 | 516 | 527▲2% |
| EPS (₹) | 7.63 | 9.37 | 10.79 | 11.02▲2% |
Official annual reports and financial statements filed by Cochin International Airport Limited, year by year. PDFs open in a new tab.
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Please find below the procedure for selling Cochin International Airport Limited Unlisted Shares at UnlistedZone.
The lock-in period for Cochin International Airport Limited Unlisted Shares varies depending on the category of investors:
This regulation was introduced by SEBI in August 2021. The rule change, which reduced the lock-in period from one year to six months, was aimed at encouraging more investments in startups that are preparing for public offerings or IPOs. This reduction in the lock-in period is seen as a significant step forward, and since its introduction, many Portfolio Management Services (PMS) have been advising their clients to invest in Pre-IPO shares to capitalize on the benefits of early-stage investments.
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f. Annexure.
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Long-term Capital Gains (LTCG) on unlisted shares in India refer to the profits earned from the sale of unlisted shares that have been held for more than two years. The key aspects of LTCG on unlisted shares include:
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Transition to Listed Market Tax Rates:
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2. Checking in Broker's Application:
The credit of Cochin International Airport Limited Unlisted Shares can also be checked in your broker's application. However, it's important to note that it may take T+2 days for the shares to show up in the application after the transaction.
The Cochin International Airport Limited Unlisted Shares are credited in the demat account on the same day as the transfer of funds into our company's bank account.
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