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Corporate Overview |
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History
Mercator Lines Ltd. is the second largest private sector shipping company in India in terms of tonnage. We have acquired a position of trust and reliability as a provider of various services under different business segments.. Mercator Lines Ltd was incorporated on 24th November, 1983 as a private limited company. It was converted into a public limited company on 3rd April, 1984. Since its inception the company has written a history of achievements. It has done pioneering work by operating vessels in some unchartered rivers like the Tapti and has thus opened new navigational routes.It has diversified itself into various business segments. Mr. H. K. Mittal the promoter of the company took it over in the year 1988 and under his vision and leadership the company has today acquired the merit of becoming the second largest private sector shipping company in India in terms of tonnage. Mercator's financial performance has been truly commendable. Since its maiden public issue in 1993, it has grown manifold in terms of financial parameters like turnover, profits, tonnage and market capitalization. Presently the shares of the Company are listed on Mumbai Stock Exchange and National Stock Exchange. During April 2005, the Company successfully completed its first international offering of Foreign Currency Convertible Bonds aggregating USD 60 mn. The issue was well received in the international market and is listed on Singapore Stock Exchange. The tonnage has shown an exponential rise from 4000 DWT in 1994 to about 2924084 in 2010. The Chairman and Managing Director of the Company Mr. H. K. Mittal was awarded "Entrepreneur of the Year-2005-06" by The Economic Times of India and "The Entrepreneur of the Year Award Services-2005" by ERNST & YOUNG in November 2005. The Company was awarded the "Star Company of the Year Award" in Small and Medium Sector (SME) by the leading financial newspaper, Business Standard in February 2005. The Company was rated as "Fastest Growing Small Company of India" across all the sectors by Business Today in March 2005. The Company was also nominated consecutively for two years for the "Emerging Company of the Year 2003-04 and 2004-05" by the Economic Times Awards for Corporate Excellence. The Company also added new business segment namely Offshore Drilling with acquisition of Jack-Up Rig. The rig received ahead of its schedule; was deployed immediately upon delivery in March 2009; for a period of three years on firm bare boat charter. The Company also forayed into dredging and presently owns a fleet of four dredgers. Mercator Group has also acquired economic interest in coal mines in Mozambique and Indonesia with substantial coal resources; as a measure of backward integration to strengthen its shipping activities and to meet the huge energy demand in India. The commercial operations in Indonesia have already commenced. | |
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