Mercator Ltd

About [ edit ]

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 31.1 Cr.
  • Current Price 1.05
  • High / Low 1.69 / 0.65
  • Stock P/E
  • Book Value -39.8
  • Dividend Yield 0.00 %
  • ROCE -23.2 %
  • ROE %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Debtor days have improved from 76.63 to 57.47 days.

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -27.05% over past five years.
  • Promoter holding is low: 10.83%
  • Contingent liabilities of Rs.276.67 Cr.
  • Promoters have pledged 36.19% of their holding.
  • Company's cost of borrowing seems high
  • Promoter holding has decreased over last 3 years: -19.90%

Peer comparison

Sector: Shipping Industry: Shipping

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
183 183 214 267 176 145 154 173 166 115 110 145
188 188 160 796 287 234 374 144 -95 107 118 125
Operating Profit -5 -5 54 -529 -111 -88 -219 29 261 7 -8 20
OPM % -3% -3% 25% -198% -63% -61% -142% 17% 158% 7% -7% 14%
Other Income 24 24 2 161 -136 -140 1 0 -373 10 15 7
Interest 41 41 40 32 42 24 90 68 72 69 66 75
Depreciation 21 21 41 41 55 22 25 22 71 12 12 14
Profit before tax -43 -43 -25 -441 -344 -275 -334 -61 -255 -63 -72 -63
Tax % -97% -97% -30% -2% -2% -2% -1% -5% -0% -3% -2% -4%
Net Profit -85 -85 -32 -427 -381 -280 -338 -66 -259 -69 -76 -72
EPS in Rs -2.81 -2.81 -1.07 -14.13 -12.59 -9.25 -11.17 -2.18 -8.57 -2.27 -2.50 -2.39

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
2,211 1,809 2,829 3,700 3,733 3,458 3,092 2,707 2,115 932 867 639 535
1,342 1,182 2,191 3,117 3,316 2,827 2,982 2,658 1,661 818 1,368 765 255
Operating Profit 869 627 638 583 417 630 110 49 454 114 -500 -127 280
OPM % 39% 35% 23% 16% 11% 18% 4% 2% 21% 12% -58% -20% 52%
Other Income 89 52 6 65 -204 26 -100 -430 147 -33 -16 -373 -341
Interest 214 229 238 213 245 205 225 273 232 144 154 261 282
Depreciation 269 341 307 382 447 441 475 427 319 154 177 141 110
Profit before tax 475 109 99 52 -479 10 -690 -1,082 50 -217 -847 -901 -453
Tax % 2% 5% -34% 42% -3% 248% -2% -1% 42% -28% -4% -1%
Net Profit 376 53 94 21 -372 32 -450 -1,092 24 -295 -909 -926 -476
EPS in Rs 15.95 2.26 3.84 0.84 -15.19 1.31 -18.36 -44.59 0.91 -9.76 -30.04 -30.62 -15.73
Dividend Payout % 3% 9% 0% 0% 0% 8% -1% -0% 6% 0% 0% 0%
Compounded Sales Growth
10 Years:-10%
5 Years:-27%
3 Years:-33%
TTM:-17%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:49%
Stock Price CAGR
10 Years:-31%
5 Years:-48%
3 Years:-65%
1 Year:50%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
24 24 24 24 24 24 24 24 27 30 30 30 30
Reserves 2,246 2,119 2,246 2,471 2,172 2,319 1,954 862 965 922 -87 -1,088 -1,234
Borrowings 2,836 3,116 3,273 3,578 3,465 3,715 3,886 2,632 1,839 1,728 1,680 1,615 661
2,263 1,424 1,371 1,009 1,202 1,221 1,793 1,302 1,111 535 569 737 1,765
Total Liabilities 7,368 6,683 6,915 7,083 6,864 7,279 7,658 4,820 3,942 3,216 2,192 1,294 1,222
5,746 5,118 4,558 5,715 5,032 5,440 4,984 2,659 1,864 1,642 841 332 307
CWIP 52 87 805 31 36 3 620 688 694 292 281 3 3
Investments 42 75 28 41 35 36 5 2 186 206 180 86 86
1,528 1,402 1,523 1,296 1,761 1,801 2,049 1,471 1,198 1,076 889 873 826
Total Assets 7,368 6,683 6,915 7,083 6,864 7,279 7,658 4,820 3,942 3,216 2,192 1,294 1,222

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
1,888 -73 269 453 198 424 1,014 570 520 325 110 -35
-2,866 256 -449 14 386 -409 -746 1,070 369 -207 103 270
988 -153 5 -595 -491 -172 -173 -1,808 -880 -189 -222 -217
Net Cash Flow 10 30 -176 -129 94 -156 95 -168 9 -71 -9 18

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 16% 6% 7% 5% -0% 4% -6% -8% 9% -0% -24% -23%
Debtor Days 49 41 49 50 64 67 96 78 67 126 46 57
Inventory Turnover 0.00 0.00 0.00 26.46 20.14 22.18 20.96 44.76 52.81 21.01 23.64 29.97

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
30.84 31.17 29.76 29.68 19.57 19.57 19.57 19.57 19.57 11.11 10.99 10.83
15.28 14.92 14.47 13.65 13.04 12.96 4.70 4.12 4.11 3.84 3.84 3.74
0.20 0.29 0.49 0.05 0.03 0.03 0.08 0.03 0.03 0.03 0.03 0.03
53.67 53.61 55.28 56.62 67.36 67.44 75.65 76.29 76.30 85.03 85.14 85.40

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