AAKASHAYA PATRA EXCLUSIVE STOCK FOR INVESTMENT: 29.08.2020

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COCHIN MINERALS & RUTILE LTD.

CMP 134 ENTRY 130 TO 135 STOP LOSS  111 TARGET 270++ TIME: 18 MONTHS


CMRL is manufacturing the best quality Synthetic Rutile across the World. CMRL is India's largest manufacturer of Aqua Ferric Chloride which conforms to all major International Standards. CMRL Plant is ideally located at Edayar Industrial Development Area, hardly 15 Km. from Cochin Port and 100 Km. from the Ilmenite deposits. The Company started production with a modest capacity of 10000 TPA of Synthetic Rutile and 12500 TPA of Ferric Chloride. Subsequent through innovations and debottle-necking, the Company enhanced its production capacity of Synthetic Rutile to 50,000 TPA, Ferric Chloride to 30,000 TPA, Ferrous Chloride to 82,500 TPA and Cemox to 20,000 TPA.

         It has an equity base of just Rs.7.87 crore that is supported by reserves of around Rs.69.46 crore. The Promoters hold 52.31% while the investing public holds 47.69% stake in the company.

     In spite of lockdown Company has reported stable numbers for Q1FY21. For Q1FY21, it reported PAT of Rs.2.50 crore sales of Rs.63.23 crore fetching an EPS of Rs.3.20.

    Currently, the stock trades at a P/E of 20x. Company paid 20% dividend for FY20. Its recent high rate was Rs.243.6 which was formed in January 2019. Stock almost corrected 45% from recent high. 

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