Cochin Minerals & Rutile Limited has informed BSE that its Board was unable to complete the appointment of a new Nominee Director from Kerala State Industrial Development Corporation (KSIDC) due to the nominee's inability to provide statutory consent.

Board Meeting Developments

In its meeting held on February 5, 2026, the company's Board considered the nomination of Shri Rajesh Jacob, Deputy General Manager & CCO (DIN: 06443594), as the new Nominee Director of KSIDC. This appointment was intended to replace Shri Hari Krishnan R, IRTS, Executive Director (DIN: 10762540), following the company's earlier communication dated December 2, 2025.

Appointment Challenges

The proposed appointment faced a significant obstacle when Mr. Rajesh Jacob informed the company about certain constraints that prevented him from acting as a Director. More critically, he did not furnish his consent, which constitutes a statutory requirement for directorship appointments.

Communication with KSIDC

Following Mr. Rajesh Jacob's inability to provide consent, Cochin Minerals and Rutile Limited promptly informed KSIDC about this development. However, the company has not received any further information or alternative nomination from the state corporation, leaving the Board unable to proceed with filling the Nominee Director position.

Regulatory Compliance

The company has duly informed BSE about this development through its Company Secretary & Compliance Officer, Sreedhepa S, ensuring transparency and regulatory compliance. This communication follows the company's established practice of keeping stakeholders informed about significant board-related developments.

The inability to complete this directorship appointment highlights the importance of obtaining proper statutory consents and the challenges companies may face in board reconstitution processes involving nominee directors from government entities.

Cochin Minerals & Rutile Limited has announced its unaudited financial results for the third quarter of FY26 ended December 31, 2025, showing a decline in both revenue and profitability compared to the previous year. The Kerala-based minerals and rutile company, operating as a 100% Export Oriented Unit (EOU), reported mixed performance across key financial metrics.

Financial Performance Overview

The company's quarterly performance reflected challenging market conditions with revenue from operations declining year-on-year. Net profit margins also compressed significantly during the reporting period.

Nine-Month Performance Analysis

The nine-month period ending December 31, 2025 showed similar trends with revenue and profitability under pressure compared to the corresponding period in the previous year.

Operational Metrics and Expenses

The company's cost structure showed mixed movements during Q3FY26. Cost of materials consumed increased to ₹4334.63 lakhs from ₹3841.91 lakhs in Q3FY24. However, the company benefited from favorable inventory changes, recording a positive impact of ₹1790.55 lakhs compared to ₹1080.06 lakhs in the previous year quarter.

Employee benefits expense rose significantly to ₹914.53 lakhs from ₹701.05 lakhs year-on-year, while other expenses remained relatively stable at ₹2302.88 lakhs versus ₹2380.45 lakhs in Q3FY24.

Corporate Governance Updates

During the Board meeting held on February 5, 2026, the company addressed several governance matters. The Board considered the nomination of Shri Rajesh Jacob, Deputy General Manager & CCO, as new Nominee Director of KSIDC, replacing Shri Hari Krishnan R. However, the appointment could not proceed as Mr. Rajesh Jacob cited constraints and did not provide statutory consent.

The Board approved reconstitution of the Stakeholder Relationship Committee, reducing membership to three members effective February 5, 2026:

• Mr. Yogindunath S – Chairman
• Mr. Mathew M Cherian – Member
• Mr. Nabiell Mathew Cherian – Member

Tax and Comprehensive Income

Current tax expense for Q3FY26 was ₹179.05 lakhs compared to ₹311.22 lakhs in Q3FY24. The company reported total comprehensive income of ₹306.25 lakhs for the quarter, including other comprehensive income of ₹7.94 lakhs. The paid-up equity share capital remained unchanged at ₹783.00 lakhs with a face value of ₹10 per share.