Kurumbakavu Bhagavathi Temple, popularly known as Kodungallur Bhagavathy Temple is located about 1.5 km southeast of the Kodungallur bus stand. It is assumed that the placement of the idol of Kannaki was done about 1800 years ago by Cheran Chenkuttuvan of the Chera dynasty. The presiding deity of the temple is Bhadrakali (Goddess Kali). The shrine is crowded on Tuesdays, Fridays and Saturdays and is busy during the Sabarimala season as well.
The most famous festival of Kurumbakavu temple is the Bharani festival or Kavutheendal, which starts on the Bharani asterism, as per the Malayalam month of Meenam (March-April). The animal sacrifices that once were part of the festival in this temple are now banned, but the pilgrims still drink liquor and sing lewd songs, all the way from their villages to the shrine, as part of the ceremony. At the end of the festival, the temple closes and opens on the seventh day, after the Aswathi asterism. Another important festival at this temple is the Navarathri.