COCHIN MINERALS

This Cochin based company makes Synthetic Rutile, Ferric Chloride, Ferrous Chloride and Cemox, which are used for welding electrodes, abrasives,paints, Effluent treatment,inks,pigments and other industrial use. It is of big use for desalination plants. Its main raw material is ilmenite, which is got from beach sand and that explains why located in Kerala.  The company is unique in the sense that there are very companies in India which make this product ad that puts it in an advantageous position. Yet, the company has a loss-making track record.

It ended Q3Fy15 with a 23% (YoY) drop in net sales at Rs.30 crore. Operating costs led by fuel, raw material and employee expenses rose 8%. Interest cost doubled. And this pushed the company into the red, ending the quarter with a net loss at Rs.13 crore, much more than loss of Rs.5 crore in Q2 and loss of Rs.44 lakh in previous Q3. Its loss for 9MFY15 stood at Rs.22 crore and this is 5 times more than the loss of Rs.4 crore it posted for FY14.