Cochin Minerals and Rutile (CMRL), Edayar: A Company History

Ashraf Gents Hostel

Key facts

Cochin Minerals and Rutile Ltd was founded on 18 August 1989 by Dr S. N. Sasidharan Kartha with assistance from the Kerala State Industrial Development Corporation (KSIDC), according to Wikipedia.
CMRL’s plant in the Edayar Industrial Development Area makes synthetic rutile (beneficiated ilmenite), ferric chloride, ferrous chloride and a product called Cemox.
Onmanorama reported in April 2025 that KSIDC held a 13.4% stake in CMRL.
On 3 April 2025 the Serious Fraud Investigation Office filed a prosecution complaint before the Economic Offences Court in Kochi naming 27 accused, including CMRL officials and Exalogic Solutions; the accused have denied wrongdoing.
In its management discussion dated 22 August 2026, CMRL said export shipments were suspended in March 2026 because of shipping disruption in West Asia.

The Aluva Manappuram Siva temple with its tiled roof on the sandy riverbank. Photo: Vis M / Wikimedia Commons, CC0

What CMRL makes and why it is at Edayar

Kerala’s southern beaches, especially around Chavara and Neendakara in Kollam district, hold ilmenite, a titanium-iron mineral. CMRL’s business is to upgrade it. Its main product is synthetic rutile – ilmenite with most of the iron removed – sold to makers of titanium dioxide pigment and welding electrodes. The iron that is stripped out becomes ferric chloride and ferrous chloride, used in water treatment, and the company also sells a product called Cemox.

The plant sits in the Edayar Industrial Development Area beside the Periyar, about 15 km from the Cochin Port and roughly 100 km from the ilmenite deposits, according to Wikipedia and the company. The river supplies process water; the port handles exports. The neighbourhood’s own past is told in our Muppathadam and Edayar history. Wikipedia gives the initial capacity as 10,000 tonnes a year of synthetic rutile and 12,500 tonnes of ferric chloride, later raised to 45,000 tonnes of synthetic rutile, 24,000 tonnes of ferric chloride and 72,000 tonnes of ferrous chloride. The company itself gives a licensed and installed synthetic-rutile capacity of 50,000 tonnes a year. Sources do not date each expansion.

CMRL was founded on 18 August 1989 by Dr S. N. Sasidharan Kartha, with assistance from the Kerala State Industrial Development Corporation. Wikipedia describes it as the only listed Indian company in the synthetic rutile business. It trades on the BSE (scrip code 513353).

Timeline

Date	What happened	Source
18 August 1989	CMRL founded with KSIDC assistance	Wikipedia
Since about 2010	Domestic ilmenite supply declines; the company relies more on imports	CMRL management discussion, 2026
2019	Income Tax Department searches CMRL’s premises	Wikipedia, citing news reports
June 2023 (reported 9–11 August 2023)	Income Tax Interim Settlement Board order reported to record payments of ₹1.72 crore from CMRL to Exalogic Solutions	Onmanorama; The Indian Express
31 January 2024	Ministry of Corporate Affairs assigns the probe to the Serious Fraud Investigation Office (SFIO)	Onmanorama
February 2024	Karnataka High Court single judge declines Exalogic’s plea to stop the SFIO probe	Onmanorama
3 April 2025	SFIO files prosecution complaint before the Economic Offences Court, Kochi, naming 27 accused	Onmanorama
March 2026	Export shipments suspended because of shipping disruption in West Asia	CMRL management discussion, 22 August 2026

The Exalogic case, stated neutrally

In August 2023 Onmanorama and The Indian Express reported an order of the Income Tax Interim Settlement Board, made in June 2023 after a 2019 search of CMRL. According to those reports, the board recorded payments of ₹1.72 crore from CMRL to Exalogic Solutions, an IT firm owned by Veena Vijayan, daughter of Chief Minister Pinarayi Vijayan, and said no services had been shown to have been delivered. Onmanorama reported the board’s figures as ₹5 lakh a month to Veena Vijayan and ₹3 lakh a month to Exalogic for three years from 2017.

On 31 January 2024 the Union Ministry of Corporate Affairs handed the matter to the Serious Fraud Investigation Office. Exalogic challenged the probe in the Karnataka High Court; a single judge declined to stop it in February 2024. On 3 April 2025 the SFIO filed a prosecution complaint before the Economic Offences Court in Kochi under Section 447 of the Companies Act (fraud), naming 27 accused – Veena Vijayan, Exalogic, CMRL’s managing director and other company officials. Onmanorama reported that the SFIO put the payments to Exalogic at ₹2.70 crore, a different figure from the board’s ₹1.72 crore.

Veena Vijayan has denied the allegations, and the Chief Minister has also denied them, according to the same reports. Further petitions were filed in the High Courts of Kerala and Karnataka during 2025. As of October 2026 we found no final judgment on the charges; the allegations remain allegations until a court rules on them.

This page records what agencies and courts did and what was reported. It does not take a view on the merits of the case.

Operations in 2025–26

Away from the courtrooms, CMRL’s own filings describe a business under pressure. Its management discussion for the year ended 31 March 2026, dated 22 August 2026 at Aluva, says domestic ilmenite has been scarce since 2010, so the company imports more and adapts its process to different grades. It says turnover fell 9% because of lower synthetic-rutile sales, and that export shipments were suspended in March 2026 because of shipping disruption in West Asia, when sales dropped to 980 tonnes against a previous average of about 2,900 tonnes a month.

The filing does not say the plant has shut. It warns that a prolonged disruption could hurt sales and manufacturing. That is the most recent official statement we found.

Why it matters to people living near the NAD signal

CMRL is one of the larger employers in the Edayar industrial area, next to the old Binani Zinc site and a short way from the plants of Eloor and Udyogamandal. For anyone taking a job in the belt, the company’s history is a reminder that work here depends on global mineral prices and shipping as much as on local factors. See also workplaces near Kalamassery.

Ashraf Gents Hostel at the NAD Road signal is a men-only hostel and PG for students, staff and working men; Edayar is outside its listed 3 km radius, so check the shift-time commute. Its indicative rate, about ₹2,000–3,000 a month, is confirmed on +91 90746 23855. Browse other company histories in the Kalamassery history archive.

Frequently asked questions

What does CMRL produce?

Synthetic rutile (upgraded ilmenite), ferric chloride, ferrous chloride and a product called Cemox, at its plant in the Edayar Industrial Development Area near Aluva.

When was CMRL founded?

On 18 August 1989, by Dr S. N. Sasidharan Kartha with assistance from KSIDC, according to Wikipedia.

What is the CMRL–Exalogic case?

It concerns payments by CMRL to Exalogic Solutions, owned by Veena Vijayan. The SFIO filed a prosecution complaint on 3 April 2025 naming 27 accused; the accused deny wrongdoing and, as of October 2026, we found no final judgment.

Is the CMRL plant still running?

Its management discussion dated 22 August 2026 describes ongoing production but reports suspended exports since March 2026 and lower sales. It does not say the plant has shut.

Does the government own part of CMRL?

Onmanorama reported in April 2025 that KSIDC, a Kerala government corporation, held a 13.4% stake.

Sources

Facts about Ashraf Gents Hostel come from the hostel’s own profile and photos; rates are indicative and confirmed on the call. Last reviewed 8 October 2026. How we write these guides: editorial notes. Map embeds © Google.

Cite this guide: Ashraf Gents Hostel. “Cochin Minerals and Rutile (CMRL), Edayar: A Company History.” Published 8 October 2026. https://ashrafgentspghostel.adserr.com/cmrl-edayar-history/ Plain-text (Markdown) version · quoting with a link back is welcome.