Cochin International Airport Limited (CIAL)
vs. prev. close ₹450
52W High
₹468
52W Low
₹438
Market cap
₹21,520 Cr
IPO stage
No DRHP filed
Risk level
Low
CIN
U63033KL1994PLC007803
Price History
52W High
₹468
52W Low
₹438
About Cochin International Airport Limited (CIAL)
Before anyone in India had a template for building a world-class airport without full government funding, a group of NRIs from Kerala pooled their savings, backed a single piece of land in Nedumbassery, and created what is now both India's first public-private partnership airport and the world's first fully solar-powered international aviation hub.
The Short Version :
Cochin International Airport Limited (CIAL), in its 32nd year, is the operator of Kochi's Cochin International Airport, the world's first fully solar-powered airport, along with associated aviation infrastructure and services through its subsidiaries and an associate. FY26 consolidated revenue from operations grew 6.99% to Rs 1,401.49 crore from Rs 1,309.95 crore, with PAT up 2.17% to Rs 526.75 crore from Rs 515.54 crore. Basic EPS was Rs 11.01 versus Rs 10.78 a year earlier, with ROE at 17.83% (down slightly from 19.34% as equity grew faster than profit) and Book Value per Share of Rs 617.81, up from Rs 557.33.
Why It Trades Where It Does :
CIAL is a mature, cash-generative infrastructure business: revenue grew 6.99% but PAT grew only 2.17%, meaning costs rose faster than income, employee benefits expense (+6.9%) and other expenses (+18.5%) both outpaced revenue growth, alongside a Rs 340.85 lakh share of loss from an associate that didn't exist in FY25. ROE eased to 17.83% from 19.34% as the equity base grew nearly 10.9% while profit grew barely 2%, still a healthy return for an airport operator, but a sign that incremental capital isn't yet generating proportionate returns. With Property, Plant & Equipment at Rs 2,254.78 crore and Capital Work in Progress rising to Rs 235.58 crore, the business continues to invest in infrastructure, consistent with an airport operator managing ongoing capacity expansion.
Top Risks :
PAT growth (2.17%) trailed revenue growth (6.99%) by a wide margin, indicating cost pressures or margin compression worth tracking if the trend continues.
The associate company posted a loss (Rs 340.85 lakh) that dragged consolidated profit down, worth understanding since this appeared for the first time at this scale in FY26.
As an airport operator, revenue is exposed to air traffic volumes, aviation policy, and broader travel demand cycles outside the company's direct control.
Top Opportunities :
Revenue growth of 6.99% on an already large base reflects continued passenger and cargo traffic growth at a well-established airport.
Ongoing capex (Capital Work in Progress up 40.2% to Rs 235.58 crore) signals continued capacity investment ahead of future traffic growth.
CIAL's positioning as the world's first fully solar-powered airport gives it a distinctive sustainability profile relative to peer airport operators.
Disclaimer :
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Company Details
Industry
Airport Infrastructure, Aviation Services, Public-Private Partnership
Founded
1994
Headquarters
Ernakulam, Kerala, India
Min Lot Size
200
Face Value
₹10.00
Total Shares
478218436
Regulatory Information
Corporate Identity Number (CIN)
U63033KL1994PLC007803
PAN Number
AAACC9658B
ISIN
INE02KH01019
Depository
NSDL & CDSL
Registrar & Transfer Agent (RTA)
SKDC Consultants
Key Valuation Ratios
Valuation
Market Cap
₹21,519.83 Cr
P/E Ratio
40.85×
P/S Ratio
15.35×
P/B Ratio
7.28×
EV / EBITDA
24.13×
Returns & Per Share
ROE
17.83%
EPS
₹11.02
Book Value / Share
₹61.78
Solvency
Debt / Equity
0.11×
Interest Coverage
21.42×
Company Fundamentals
As of FY2026 Annual · updated 03 Sept 2026Gross Profit
₹1,249.57 Cr
EBITDA
₹903.18 Cr
Revenue Growth
6.99%
Profit Margin
37.59%
Performance Trends
5 annual periods · derived from filed statements
Revenue
₹ Cr
Net Profit
₹ Cr · losses in red
Earnings Per Share
₹ per share
Return on Equity
ROE %
Return on Capital Employed
ROCE %
Debt-to-Equity
0.11×
EBITDA Margin
64.44%
Interest Coverage
21.42×
Financial Statements
| Line item | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|
| Total Income | |||||
| Revenue from operationsDisclosed | 502.3₹ Crore | 939.64₹ Crore | 1,158.43₹ Crore | 1,309.95₹ Crore | 1,401.49₹ Crore |
| Other incomeDisclosed | 21.9₹ Crore | 15.19₹ Crore | 75.08₹ Crore | 92.34₹ Crore | 90.73₹ Crore |
| Total IncomeDerived | 524.2₹ Crore | 954.83₹ Crore | 1,233.51₹ Crore | 1,402.29₹ Crore | 1,492.22₹ Crore |
| Expenses | |||||
| Cost of goods soldDisclosed | 64.99₹ Crore | 111.65₹ Crore | 122.67₹ Crore | 139.81₹ Crore | 151.92₹ Crore |
| Employee benefits expenseDisclosed | 107.05₹ Crore | 128.5₹ Crore | 140.37₹ Crore | 162.03₹ Crore | 173.18₹ Crore |
| Finance costsDisclosed | 54.94₹ Crore | 44.84₹ Crore | 50.83₹ Crore | 42.43₹ Crore | 34.74₹ Crore |
| Depreciation and amortization expenseDisclosed | 145.37₹ Crore | 141.68₹ Crore | 148.37₹ Crore | 145.44₹ Crore | 158.88₹ Crore |
| Other expensesDisclosed | 103.29₹ Crore | 136.48₹ Crore | 172.78₹ Crore | 219.8₹ Crore | 260.53₹ Crore |
| Total ExpensesDerived | 475.64₹ Crore | 563.15₹ Crore | 635.02₹ Crore | 709.51₹ Crore | 779.25₹ Crore |
| Profit | |||||
| Exceptional itemsDisclosed | 0₹ Crore | 1₹ Lakh | -2₹ Lakh | 0₹ Crore | -3.41₹ Crore |
| Profit before taxDerived | 48.56₹ Crore | 391.69₹ Crore | 598.47₹ Crore | 692.78₹ Crore | 709.56₹ Crore |
| Tax expenseDisclosed | 13.57₹ Crore | 98.94₹ Crore | 150.71₹ Crore | 177.25₹ Crore | 182.8₹ Crore |
| Profit After TaxDerived | 34.99₹ Crore | 292.75₹ Crore | 447.76₹ Crore | 515.53₹ Crore | 526.76₹ Crore |
| Total Comprehensive IncomeDerived | 34.99₹ Crore | 292.75₹ Crore | 447.76₹ Crore | 515.53₹ Crore | 526.76₹ Crore |
Documents Library
Access all financial reports and filings
Annual Report
Cochin International Research Report others CIAL Research Report
Cochin International Research Report others CIAL Research Report
Cochin International Research Report others CIAL Research Report
Cochin International Research Report others CIAL Research Report
Dividend dividend CIAL Dividend INR 4.50 per share on 08.10.2024
Dividend dividend CIAL Dividend INR 4.50 per share on 08.10.2024
Dividend dividend CIAL Dividend INR 4.50 per share on 08.10.2024
Dividend dividend CIAL Dividend INR 4.50 per share on 08.10.2024
Dividend dividend Cochin Intl. declared a dividend of Rs.3.5 per share
Dividend dividend Cochin Intl. declared a dividend of Rs.3.5 per share
Dividend dividend Cochin Intl. declared a dividend of Rs.3.5 per share
Dividend dividend Cochin Intl. declared a dividend of Rs.3.5 per share
Right Issue corporate_action Cochin Inter. to issue rights shares at Rs.50 premium
Right Issue corporate_action Cochin Inter. to issue rights shares at Rs.50 premium
Right Issue corporate_action Cochin Inter. to issue rights shares at Rs.50 premium
Right Issue corporate_action Cochin Inter. to issue rights shares at Rs.50 premium
Express buy interest
No commitment — the desk will reach out
Current Price
₹450Secure & Verified Transaction
Unlisted shares are illiquid and carry higher market risks. Please read the Risk Disclosure before investing.
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About Cochin International Airport Limited (CIAL) unlisted shares
Indicative · updated dailyCochin International Airport Limited (CIAL) unlisted share price today
Cochin International Airport Limited (CIAL) unlisted share price today is ₹450 as of 16 October 2026.
Cochin International Airport Limited (CIAL) — frequently asked questions
- What is the grey market price for Cochin International Airport Limited (CIAL)?
No IPO is currently announced for Cochin International Airport Limited (CIAL), so no grey market exists; the price above reflects Priveq's own desk valuation.
- Has Cochin International Airport Limited (CIAL) filed for an IPO, and when might it list?
Cochin International Airport Limited (CIAL) has not filed a draft red herring prospectus, so no IPO is currently announced and no listing date has been set.
- How does Cochin International Airport Limited (CIAL) compare to its listed peers?
There is no closely comparable listed company for Cochin International Airport Limited (CIAL) in India today.
- Is Cochin International Airport Limited (CIAL) on the SME or Mainboard IPO track?
Cochin International Airport Limited (CIAL) has not filed a draft red herring prospectus, so no IPO track is set yet.
- What is Cochin International Airport Limited (CIAL)'s CIN and registered office?
Cochin International Airport Limited (CIAL)'s Corporate Identity Number is U63033KL1994PLC007803, registered at Ernakulam, Kerala, India.
- What is Cochin International Airport Limited (CIAL)'s market capitalisation?
Cochin International Airport Limited (CIAL)'s market capitalisation is approximately ₹21,520 crore, based on its current unlisted share price.
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Buying, selling and holding unlisted shares
Applies to every company on Priveq- How do I buy Cochin International Airport Limited (CIAL) unlisted shares?
Priveq Investech Private Limited is the named counterparty on every transaction. To buy Cochin International Airport Limited (CIAL) unlisted shares: complete KYC once (PAN, Aadhaar, bank details, and demat account information — SEBI-compliant, typically approved within 24 hours), then submit your order through your Priveq dashboard specifying quantity. Our team confirms price and payment details with you directly. Once payment is confirmed, Cochin International Airport Limited (CIAL) shares are transferred off-market straight to your demat account, with no pooling and no middlemen.
- How do I sell Cochin International Airport Limited (CIAL) unlisted shares?
Submit an Express Sell Interest for Cochin International Airport Limited (CIAL) through your Priveq dashboard, specifying quantity, the same way a buy order is placed. Priveq quotes you a bid price, which may differ from the live Buy price shown to buyers, since unlisted-share pricing works on a bid-ask basis rather than a single quote. Once you accept, you'll need to provide your Client Master List (CML), a cancelled cheque or bank details, and PAN. If you hold shares with CDSL, transfer can also be completed digitally via CDSL Easiest. You transfer Cochin International Airport Limited (CIAL) shares to Priveq first, and payment follows once the transfer is confirmed received, typically the same day, T+1, or occasionally T+2, communicated to you directly. For sizeable transactions worth crores of rupees, an escrow arrangement can be used instead, at the sole consent of both parties.
- What is the minimum investment for Cochin International Airport Limited (CIAL) unlisted shares?
Minimum investment varies by company and is shown as the Min Investment figure on this page. Cochin International Airport Limited (CIAL)'s minimum is ₹90,000.
- Is there a maximum investment limit?
There's no fixed maximum investment limit for Cochin International Airport Limited (CIAL) unlisted shares. For sizeable transactions worth crores of rupees, an escrow arrangement can be used at the sole consent of both parties, the same mechanism available on the sell side.
- Is buying Cochin International Airport Limited (CIAL) unlisted shares legal in India?
Yes. Buying and selling unlisted shares in India is legal and is subject to relevant SEBI regulations, including the mandatory lock-in period after listing, stamp duty, and depository participant charges on each transaction. Priveq's own KYC process is built to be SEBI-compliant.
- What is the lock-in period for Cochin International Airport Limited (CIAL) unlisted shares?
Cochin International Airport Limited (CIAL) has not filed a DRHP yet, so no listing date or lock-in period applies at this stage. Once an IPO is filed, this answer updates to reflect the applicable SME or Mainboard lock-in.
- What happens if Cochin International Airport Limited (CIAL)'s IPO is delayed or withdrawn?
If an IPO is delayed, shares remain unlisted and continue to trade on the desk at Priveq's indicative price, with no lock-in in effect until an actual listing happens. If a company formally withdraws its DRHP, the same applies: shares stay unlisted, with no lock-in period until and unless a fresh IPO process begins.
- How are capital gains on Cochin International Airport Limited (CIAL) unlisted shares taxed?
If you sell unlisted shares, including Cochin International Airport Limited (CIAL), within 24 months of purchase, the gain is taxed as short-term capital gain at your applicable income tax slab rate. Beyond 24 months, it is taxed as long-term capital gain at 12.5 percent, without indexation benefit, under the rules effective from 23 July 2024. If Cochin International Airport Limited (CIAL) lists and you sell after listing, the applicable tax treatment shifts to listed-security rates, with the holding period still measured from your original unlisted purchase date. This is general information, not tax advice; investors should confirm their specific position with a tax advisor.
- Can NRIs invest in Cochin International Airport Limited (CIAL) unlisted shares?
Yes, on a non-repatriable basis. NRIs can invest using funds from an NRO account; sale proceeds stay within India unless repatriated separately under RBI's own limits. Priveq does not currently support repatriable investment (NRE/FCNR-funded), which would require the investee company to file additional RBI paperwork as foreign direct investment.
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No. The price quoted to you is all-in; there is no separate platform fee or brokerage added on top.
- How does Priveq determine the desk price for Cochin International Airport Limited (CIAL)?
Priveq's desk price reflects several inputs together, not a single formula: the seller's ask price at the time, current demand and supply on the platform for Cochin International Airport Limited (CIAL) specifically, broader sentiment in the unlisted and pre-IPO market, how Cochin International Airport Limited (CIAL)'s sector and listed peers are trading, the company's own recent financial performance and IPO-stage developments, and recent transaction history where deals have actually closed.
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