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Corporate Overview |
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History
Mercator Lines Ltd. is the second largest private sector shipping company in India. We have acquired a position of trust and reliability as a provider of sea borne transportation services. 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. 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. 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 Bombay Stock Exchange; National Stock Exchange and Ahmedabad Stock Exchange. During April 2005, the Company successfully completed its first internation 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 2561476 in 2008. 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 Entreprenuer 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. Mercator has also carved a niche for itself in the area of coastal trade by opening new avenues of transportation of molasses from Surat and minor ports in Ratnagiri. The Company also handles transportation of coal at various locations. The Company has forayed into the Oil & Gas Offshore business through its subsidiaries and placed an order for construction of new generation Jack-up rig. 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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