Mercator Ltd

₹ 0.85 0.00%

10 Mar 2023

About

Mercator Ltd along with its subsidiaries is a diversified group engaged in shipping, gas, coal mining and E&P activities. It commenced business as a shipping company in 1984 and has over the years, through its subsidiaries, diversified into various other sectors like coal mining and logistics, E&P and dredging. ^[1]

Key Points

Segment Revenue in FY21
Coal Mining, Trading and Logistics - 98% vs (78% in FY 20)
Shipping & Dredging - 2% vs (21% in FY 20)
Revenue in FY21 decreased drastically mainly due to decrease in revenue of Shipping business from 132 Cr in FY20 to 7 Cr in FY21 ^[1]

Website BSE

Market Cap ₹ 25.7 Cr.
Current Price ₹ 0.85
High / Low ₹ /
Stock P/E 16.7
Book Value ₹ -32.3
Dividend Yield 0.00 %
ROCE %
ROE %
Face Value ₹ 1.00

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Pros

Company has reduced debt.

Cons

Promoter holding is low: 3.01%
Contingent liabilities of Rs.763 Cr.
Promoters have pledged 98.9% of their holding.
Earnings include an other income of Rs.12.3 Cr.
Promoter holding has decreased over last 3 years: -7.98%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Shipping Industry: Shipping

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	4.95	-1.45	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	12.76	0.62	3.20	-1.58	3.37	3.37	2.98	3.08	2.92	2.78	2.64	2.59	2.66
Operating Profit	-7.81	-2.07	-3.20	1.58	-3.37	-3.37	-2.98	-3.08	-2.92	-2.78	-2.64	-2.59	-2.66
OPM %	-157.78%
	5.18	1.95	3.12	3.16	3.12	3.29	3.04	3.15	3.12	3.06	3.04	3.11	3.12
Interest	55.74	58.42	0.00	0.08	0.08	0.00	0.02	0.03	0.04	0.04	0.01	0.00	0.00
Depreciation	0.03	0.03	0.02	0.02	0.03	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02
Profit before tax	-58.40	-58.57	-0.10	4.64	-0.36	-0.10	0.02	0.02	0.14	0.22	0.37	0.50	0.44
Tax %	0.00%	-15.96%	1,120.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	-58.40	-67.92	1.02	4.64	-0.36	-0.10	0.02	0.02	0.14	0.22	0.38	0.50	0.44
EPS in Rs	-1.93	-2.25	0.03	0.15	-0.01	-0.00	0.00	0.00	0.00	0.01	0.01	0.02	0.01
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	547.98	551.49	497.04	659.42	588.64	538.33	405.67	311.96	132.16	6.86	0.00	0.00	0.00
	463.87	539.98	372.30	465.26	365.41	344.11	311.32	393.17	196.41	31.77	8.27	11.76	10.67
Operating Profit	84.11	11.51	124.74	194.16	223.23	194.22	94.35	-81.21	-64.25	-24.91	-8.27	-11.76	-10.67
OPM %	15.35%	2.09%	25.10%	29.44%	37.92%	36.08%	23.26%	-26.03%	-48.62%	-363.12%
	72.69	14.39	26.57	20.66	22.62	20.40	4.82	-178.27	-699.89	31.39	12.60	12.38	12.33
Interest	152.97	132.69	73.08	70.89	92.83	96.90	104.23	116.92	220.13	210.12	0.15	0.13	0.05
Depreciation	119.00	109.16	67.52	92.38	127.24	147.27	137.76	123.72	41.05	0.13	0.10	0.08	0.08
Profit before tax	-115.17	-215.95	10.71	51.55	25.78	-29.55	-142.82	-500.12	-1,025.32	-203.77	4.08	0.41	1.53
Tax %	-3.04%	-0.69%	14.01%	3.88%	3.88%	-3.38%	-29.53%	-2.27%	-0.04%	-4.59%	-27.45%	0.00%
	-118.67	-217.44	9.21	49.55	24.78	-30.55	-184.99	-511.45	-1,025.77	-213.11	5.21	0.41	1.54
EPS in Rs	-4.85	-8.88	0.38	2.02	1.01	-1.13	-6.12	-16.91	-33.91	-7.05	0.17	0.01	0.05
Dividend Payout %	0.00%	0.00%	26.59%	9.88%	9.88%	-4.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	%

Compounded Profit Growth
10 Years:	7%
5 Years:	15%
3 Years:	26%
TTM:	1825%

Stock Price CAGR
10 Years:	-30%
5 Years:	-29%
3 Years:	0%
1 Year:	0%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	24.49	24.49	24.49	24.49	24.49	26.99	30.25	30.25	30.25	30.25	30.25	30.25	30.25
Reserves	849.11	645.43	639.59	676.50	727.47	794.62	741.16	222.65	-801.51	-1,014.62	-1,009.40	-1,008.99	-1,008.12
	1,209.50	781.14	881.14	932.03	993.14	1,014.06	952.76	1,196.30	962.25	964.05	942.92	942.92	225.37
	197.51	611.04	147.17	170.04	140.65	219.27	217.86	139.20	243.21	420.73	419.25	418.03	1,135.80
Total Liabilities	2,280.61	2,062.10	1,692.39	1,803.06	1,885.75	2,054.94	1,942.03	1,588.40	434.20	400.41	383.02	382.21	383.30
	1,634.83	1,233.49	923.43	972.11	1,152.28	1,055.03	847.17	452.80	16.85	7.90	0.77	0.69	0.65
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	6.42	0.00	0.00	0.00	0.00	0.00	0.00
Investments	4.75	4.05	3.14	16.56	35.88	46.46	74.97	474.48	63.65	63.65	63.65	63.65	63.65
	641.03	824.56	765.82	814.39	697.59	953.45	1,013.47	661.12	353.70	328.86	318.60	317.87	319.00
Total Assets	2,280.61	2,062.10	1,692.39	1,803.06	1,885.75	2,054.94	1,942.03	1,588.40	434.20	400.41	383.02	382.21	383.30

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	2.76	71.00	131.91	155.44	292.35	187.72	132.33	-24.44	8.26	7.85	-4.06	-2.21
	796.69	670.06	-270.94	-71.54	-299.68	-174.76	-91.53	56.96	103.63	-5.84	26.54	1.57
	-843.41	-626.85	7.96	-49.26	-42.43	17.91	-58.81	-43.55	-118.42	-1.37	-21.69	-1.45
Net Cash Flow	-43.96	114.21	-131.07	34.65	-49.76	30.87	-18.01	-11.03	-6.53	0.64	0.78	-2.09

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021
Debtor Days	132.52	138.10	136.88	132.72	103.89	116.08	146.05	79.22	126.90	2,222.99
Inventory Days
Days Payable
Cash Conversion Cycle	132.52	138.10	136.88	132.72	103.89	116.08	146.05	79.22	126.90	2,222.99
Working Capital Days	-36.86	-195.12	-17.04	82.57	-21.71	19.91	-5.88	27.58	-1,961.41	-47,548.97
ROCE %	1.70%	-4.12%	5.63%	7.72%	7.02%	4.33%	-0.06%	-8.09%	-10.53%	10.09%

Shareholding Pattern

Numbers in percentages

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	10.83%	7.11%	7.11%	6.84%	6.84%	6.84%	4.45%	4.45%	4.45%	4.45%	3.01%	3.01%
	3.74%	3.21%	3.21%	0.00%	0.00%	0.00%	0.01%	0.02%	0.00%	0.00%	0.00%	0.00%
	0.03%	0.02%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	85.40%	89.66%	89.66%	93.16%	93.16%	93.16%	95.53%	95.51%	95.55%	95.54%	96.99%	96.99%
No. of Shareholders	83,947	87,701	90,148	95,040	1,09,348	1,08,983	1,07,644	1,06,642	1,05,725	1,05,710	46,591	46,525

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Dec 2023
	34.33%	30.73%	29.68%	19.57%	10.83%	6.84%	4.45%	3.01%
	14.14%	17.16%	13.65%	4.12%	3.74%	0.00%	0.00%	0.00%
	0.93%	0.03%	0.05%	0.03%	0.03%	0.00%	0.00%	0.00%
	50.61%	52.08%	56.62%	76.29%	85.40%	93.16%	95.55%	96.99%
No. of Shareholders	81,356	83,128	80,876	84,187	83,947	1,09,348	1,05,725	46,525

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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Jul 2020

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Feb 2020

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Nov 2019

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Aug 2019

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May 2019

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Feb 2019

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Nov 2018

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Aug 2018

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Jun 2018

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May 2018

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Feb 2018

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Feb 2018

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Dec 2017

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Nov 2017

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Aug 2017

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May 2017

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Feb 2017

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Dec 2016

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Oct 2016

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Oct 2016

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