Cochin Minerals and Rutile Limited

Cochin Minerals and Rutile Limited (CMRL)
Company typePublic
BSE: 513353
IndustryChemicals
Founded18 August 1989[1]
HeadquartersEdayar Industrial Development Area, Aluva,
Kochi
,
India
Key people
R.K. Garg, Chairman . Dr.S.N. Sasidharan Kartha, MD [2]
ProductsBeneficiated Ilmenite (Synthetic Rutile), Ferric Chloride, Ferrous Chloride, Cemox
RevenueIncrease₹1,129 million (US$14 million) (2009-2010)
Increase₹15.32 crore (US$1.8 million) (2009-2010)
Increase₹5.89 crore (US$710,000) (2009-2010)
Total assets₹601 million (US$7.2 million) (2009-2010)[3]
Total equity₹78.3 million (US$940,000) (2009-2010)
Websitewww.cmrlindia.com

Cochin Minerals and Rutile Limited (CMRL) (BSE: 513353) is a publicly listed chemicals company based in Kochi, Kerala, India. The company was founded in 1989 by Dr. S.N. Sasidharan Kartha with assistance from the Kerala State Industrial Development Corporation (KSIDC).[1] The company is the only listed Indian entity in the synthetic rutile space.[4]

Plant location

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  • Aluva (Kerala) - The plant is located at Edayar Industrial Development Area, which is about 15 kilometers from the Cochin Port and 100 kilometers from the Ilmenite deposits. The company started production with a capacity of 10000 TPA of Synthetic Rutile and 12500 TPA of Ferric Chloride. Subsequent, the company enhanced its production capacity of Synthetic Rutile to 45000 TPA, Ferric Chloride to 24000 TPA, Ferrous Chloride to 72000 TPA and Cemox to 18000 TPA.

Product range

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Controversies

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  • In a raid conducted by Income Tax Department in 2019, it was revealed that the company inflates its expenses and pay bribes to several politicians in Kerala.[5]
  • In 2018 - 19 there were protest named Save Alappad in Kollam district against alleged illegal mining carried out under the aegis of CMRL.[6]
  • In June 2023, Income Tax Interim Settlement Board, Delhi ruled that the company paid illegal payments to daughter of Pinarayi Vijayan by giving bogus contracts to her company Exalogics.[7]
  • In February 2024, Serious Fraud Investigation Office conducted probe against the company over alleged deal with Veena Vijayan.[8]

See also

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References

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  1. ^ a b "Cochin Minerals and Rutile". www.moneycontrol.com. Archived from the original on 8 August 2010.
  2. ^ "Cochin Minerals and Rutile Registered Address Contact Details, Cochin Minerals and Rutile Management". www.moneycontrol.com. Archived from the original on 8 December 2009.
  3. ^ "Cochin Minerals and Rutile Balance Sheet, Cochin Minerals and Rutile Financial Statement & Accounts". www.moneycontrol.com. Archived from the original on 15 April 2016.
  4. ^ "Tater Picks Cochin Minerals To Buy On Dips". www.moneycontrol.com. 11 August 2011. Archived from the original on 27 June 2018.
  5. ^ "'Monthly quota' for CM's daughter; Veena Vijayan gets Rs 1.72 crore from CMRL in 3 years". Onmanorama. Retrieved 9 February 2024.
  6. ^ "'Save Alappad', protest strengthens across state". English Archives. 10 January 2019. Retrieved 9 February 2024.
  7. ^ "Illegal payments of Rs 1.72 cr made to Kerala CM's daughter, claims report, triggers political firestorm". The Indian Express. 11 August 2023. Retrieved 9 February 2024.
  8. ^ PTI. "Kerala HC declines to stay SFIO probe against CM's daughter's firm, KSIDC & CMRL". Deccan Herald. Retrieved 9 February 2024.
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