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| Company type | Public |
|---|---|
| BSE: 526235 NSE: MERCATOR | |
| Industry | Shipping, Coal, Dredging, Offshore Oil and Logistics |
| Founded | 1983, Mumbai |
| Headquarters | , |
Key people | H. K. Mittal, Chairman & Atul J. Agarwal, MD[1] |
| Revenue | ₹683.90 crore (US$82 million)[2] |
| Website | www.mercator.co.in |
Mercator Limited is an Indian company. It was earlier known as Mercator Lines Ltd. The Mercator group of companies has diversified business interests in Coal, Oil & Gas, Commodity Transportation, and Dredging. Mercator Limited (formerly Mercator Lines Ltd.) is the parent company and was the second largest private sector shipping company in India, and it is based in Mumbai. It was amongst the highest wealth creators in the Indian stock exchanges between 2000 -2010.
It suffered greatly after 2008 financial crises which led all commodities crashing along with the greatest and longest downturn in the Shipping Industry with the indexes crashing over 95% from its peak in 2008 to its lows in 2015. It also suffered greatly due it to its receivables stuck in litigation with several Government owned companies namely Dredging Corporation of India and ONGC. As per the companies disclosures the total litigation amount is around USD 300 million, more than its total debt at the time. Long legal battles along with severe downturn and bank's inability to roll over its due debts led it to the company's decline with eventual it being taken to NCLT for liquidation.
Company was truly a pioneer in many ways challenging the way the Shipping business was done in India. It won many awards including Best Company by Business Standard and Economic Times in 2007 and 2008. Its founder and Chairman Mr Harish Kumar Mittal won the prestigious Entrepreneur of the Year Award from EY in 2007.
It was only the second Indian company to list its Singapore subsidiary on the Singapore Stock Exchange in Singapore in 2007. Mercator Lines (Singapore) Pte Ltd went on to win many corporate governance awards, only Indian company to do so.
- ^ "Management / BOD". Mllindia.com. Archived from the original on 27 October 2010. Retrieved 24 January 2011.
- ^ "BSE Plus". Bseindia.com. Retrieved 2 February 2011.