Mercator Ltd

About

Mercator Limited is engaged in sea and coastal freight water transport; renting and operational leasing of water-transport equipment without operator, and cargo handling Services.

  • Market Cap 47.2 Cr.
  • Current Price 1.60
  • High / Low 3.66 / 0.75
  • Stock P/E
  • Book Value -46.2
  • Dividend Yield 0.00 %
  • ROCE %
  • ROE %
  • Face Value 1.00

Pros

  • Company has reduced debt.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -32.70% over past five years.
  • Promoter holding is low: 7.11%
  • Contingent liabilities of Rs.276.67 Cr.
  • Promoters have pledged 55.13% of their holding.
  • Earnings include an other income of Rs.11.79 Cr.
  • Debtor days have increased from 79.13 to 133.50 days.
  • Company's cost of borrowing seems high
  • Promoter holding has decreased over last 3 years: -24.06%

Peer comparison

Sector: Shipping Industry: Shipping

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
266.94 176.10 145.18 154.46 172.82 165.62 114.63 110.30 144.88 3.97 -0.00 -0.00
795.85 286.84 233.66 373.90 144.25 -95.24 107.17 118.19 125.17 33.65 6.36 -3.80
Operating Profit -528.91 -110.74 -88.48 -219.44 28.57 260.86 7.46 -7.89 19.71 -29.68 -6.36 3.80
OPM % -198.14% -62.88% -60.95% -142.07% 16.53% 157.51% 6.51% -7.15% 13.60% -747.61%
Other Income 160.72 -135.98 -140.12 0.80 0.07 -372.93 10.00 14.89 6.75 4.91 0.05 0.08
Interest 32.47 42.17 23.72 89.75 67.74 72.21 68.61 66.46 74.99 80.73 12.66 0.51
Depreciation 40.56 54.95 22.39 25.12 22.13 70.83 12.23 12.38 14.22 0.62 0.02 0.02
Profit before tax -441.22 -343.84 -274.71 -333.51 -61.23 -255.11 -63.38 -71.84 -62.75 -106.12 -18.99 3.35
Tax % -1.94% -1.88% -1.82% -0.70% -4.88% -0.29% -3.36% -1.99% -4.11% -8.90% 5.95% -0.00%
Net Profit -427.35 -380.92 -279.70 -337.72 -65.91 -259.29 -68.56 -75.74 -72.43 -115.44 -17.86 3.35
EPS in Rs -14.13 -12.59 -9.25 -11.17 -2.18 -8.57 -2.27 -2.50 -2.39 -3.82 -0.59 0.11

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
1,809 2,829 3,700 3,733 3,458 3,092 2,707 2,115 932 867 639 374 149
1,216 2,190 3,117 3,315 2,827 2,981 2,658 1,529 818 1,368 765 384 161
Operating Profit 592 639 583 418 631 110 49 586 114 -500 -127 -10 -13
OPM % 33% 23% 16% 11% 18% 4% 2% 28% 12% -58% -20% -3% -8%
Other Income 86 5 65 -205 25 -101 -430 15 -33 -16 -373 37 12
Interest 229 238 213 245 205 225 273 232 144 154 261 291 169
Depreciation 341 307 382 447 441 475 427 319 154 177 141 39 15
Profit before tax 109 99 52 -479 10 -690 -1,082 50 -217 -847 -901 -304 -185
Tax % 5% -34% 42% -3% 248% -2% -1% 42% -28% -4% -1% -5%
Net Profit 53 94 21 -372 32 -450 -1,092 24 -295 -909 -926 -332 -202
EPS in Rs 2.26 3.84 0.84 -15.19 1.31 -18.36 -44.59 0.91 -9.76 -30.04 -30.62 -10.98 -6.69
Dividend Payout % 9% -0% -0% -0% 8% -1% -0% 6% -0% -0% -0% -0%
Compounded Sales Growth
10 Years: -18%
5 Years: -33%
3 Years: -26%
TTM: -74%
Compounded Profit Growth
10 Years: %
5 Years: 8%
3 Years: -4%
TTM: 57%
Stock Price CAGR
10 Years: -23%
5 Years: -48%
3 Years: -51%
1 Year: 88%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: %

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
24 24 24 24 24 24 24 27 30 30 30 30 30
Reserves 2,119 2,246 2,471 2,172 2,319 1,954 862 965 922 -87 -1,088 -1,399 -1,429
Borrowings 3,116 3,273 3,578 3,465 3,715 3,886 2,632 1,839 1,728 1,680 1,615 675 681
1,424 1,371 1,009 1,202 1,221 1,793 1,302 1,111 535 569 737 1,913 1,820
Total Liabilities 6,683 6,915 7,083 6,864 7,279 7,658 4,820 3,942 3,216 2,192 1,294 1,219 1,103
5,118 4,558 5,715 5,032 5,440 4,984 2,659 1,864 1,642 841 332 284 192
CWIP 87 805 31 36 3 620 688 694 292 281 3 3 3
Investments 75 28 41 35 36 5 2 186 206 180 86 61 62
1,402 1,523 1,296 1,761 1,801 2,049 1,471 1,198 1,076 889 873 871 845
Total Assets 6,683 6,915 7,083 6,864 7,279 7,658 4,820 3,942 3,216 2,192 1,294 1,219 1,103

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-73 269 453 198 424 1,014 570 520 325 110 -35 35
256 -449 14 386 -409 -746 1,070 369 -207 103 270 1
-153 5 -595 -491 -172 -173 -1,808 -880 -189 -222 -217 -40
Net Cash Flow 30 -176 -129 94 -156 95 -168 9 -71 -9 18 -5

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 41 49 50 64 67 96 78 67 126 46 57 134
Inventory Days
Days Payable
Cash Conversion Cycle 41 49 50 64 67 96 78 67 126 46 57 134
Working Capital Days -122 -30 36 40 57 1 -18 -29 116 13 -46 -2,032
ROCE % 6% 7% 5% -0% 4% -6% -8% 9% -0% -24% -23%

Shareholding Pattern

Numbers in percentages

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
29.76 29.68 19.57 19.57 19.57 19.57 19.57 11.11 10.99 10.83 7.11 7.11
14.47 13.65 13.04 12.96 4.70 4.12 4.11 3.84 3.84 3.74 3.21 3.21
0.49 0.05 0.03 0.03 0.08 0.03 0.03 0.03 0.03 0.03 0.02 0.02
55.28 56.62 67.36 67.44 75.65 76.29 76.30 85.03 85.14 85.40 89.66 89.66

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