Mercator : Financial Result for the Quarter/Year Ended March 31, 2016

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w w w . m e r c a t o r . i n‌

May 27, 2016

To,

BSE Limited

Phiroze Jeeje ebhoy Towers, Dalal Street,

Mumbai - 400 001

To,

National Stock Exchange of India Ltd. Exchange Plaza, Plot no. C/1, G Block, Bandra-Kurla Complex

Bandra (E), Mumbai - 400 051.

Scrip Code: 526235 Scrip Code:MERCATOR

Sub:Audited Financial Resul ts (Standalone and Consol idated) for the quarter/year ended

31 st March. 2016

Dear Sir,

Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose the following

1. Statements showing the Audited Financial Results (Standalone and Consolidated) for the quarter/year ended March 31,2016; and

1. Auditors Report on the Audited Financial Results - Standalone and Consolidated.

   The meeting of the Board of Directors commenced at 2.00 p.m. and concluded at 7.00 p.m. Please acknowledge.

   Thanking you,

   Yours faithfully,

   For Mercator Limited

   Pt-

   Deepe!h Joishar Company Secretary

   Encl:as above

   MERCATOR LIMITED

   (CIN : L63090MH1983PLC031418)

   31 Mittal Tower .B,Nariman Point, Mumbai.400021, India. Tel:+91 22 66373333 Fax:+91 22 66373344 mercator@mercator.in

   MERCATOR LIMITED

   Regd. Office: 3rd Floor, Mittal Tower, B-wing, Nariman Point, Mum ba i-400021. Tel: 022·66373333

   PART I - Statement Of Au dited Financial Results For The Quarter/Year Ended March 31, 2016 {Rs.in Lakhs)

   Consolidated					StandaloJ'W!
   ,g,_ Ifft,.	Partr,ulars	Quarter enlhl.d 3J/0!/21tl.6	Qllilner ended 31/12/2015	Q.u;rtec: ended 1/03/21115	Y'H E:ided lll(l3l.2016	Year •11"-d 11/03"/2015	I Quarter ended 31JQ3/20la,	Quarur ended ::u 112/2015	Qu1rter and11d 31/0lhOlS	Yea, Enped · l1/(20Jti	Year d•d 31/03/20}5
   Audited	Unau dited	Audited	Audited	Audited	Audited	Reviewed	Audited	Audited	Audited
   1	Income from operations	58,582.76	71,464.11	85,204.25	270,641.76	309,163.22	12,774.11	15,776.71	21,117.88	$8,830.73	6$,941.78
   2	Expenses	'
   (a) Operating expenses	12,865.43	16,021.36	20,260.04	70,190.37	70,192.44	3,815.33	5,991.55	6,634.83	20,046.06	21,647.54
   (b) Bunker cost	2,349.11	3,443.94	5,092.34	10,667 70	14,748.47	2,323.44	1,808.77	3,058.56	8,023.83	9,111.10
   (c ) Vessel Hire charges (d} Coal Operating expenses (e) Employee benefits expense	280.72 28,950.68 777.38	1,114 .81 34,843.56 1,464.04	2,793.91 32,753.06 2,101.76	4,955.40 119,547.80 6,177.07	10,774.87 131,216.06 7,098.61	269.47 367.42	1,140.37 - 464 .32	1,706.10 744.88	3,797.37 1,918.86	6,301.57 2,123.27
   (f) Other expenses	10,816.84	1,611.45	13,799.11	17,888.35	19,438.85	667.57	458.61	2,216.58	1,952.72	4,087.51
   (g) Dry-docking expenses	272.51	618.14	830.69	1,935.19	2,948.21	272.51	618.14	830.69	1,935.19	2,948.21
   (h) Loss sale of Fixed Assets	434.55	44,409.78	44,844.33
   Depreciation and amortisation expense	7,306.90	11,539.77	12,175.16	42,240.77	47,455.80	3,221.79	3,234.83	2,416.13	12,219.34	9,238.00
   Impairment	34,882.81	40,900.82	34,882.81	40,900.82
   Total expenses	98,936.93	115,066.85	130,706.89	353,329.79	344,774.13	10,937.54	13,716.58	17,607.77	49,893.38	55,457.20
   3	Profit /(Loss} from operatioM before other
   income .finan ce costs and exceotional Items	(40,354.17)	{43,602.74)	(45,502.64)	(82,688.03)	(35,610.91)	1,836.57	2,060.13	3,510.11	8,937.35	10,484.58
   4	Other Income	(501.15)	(170.11)	(727.18)	(1,793.92)	(516.02)	(66.41)	(323.09)	120.77	(964.20)	(82.25)
   5	Profit/(Loss) from ordinary activities before	(40,855.32)	(43,772.85)	(46,229.82)	(84,481.95)	(36,126.93)	1,770.16	1,737.05	3,630.88	7,973.16	10,402.33
   finance costs and exceptional items (3 + 41
   6	Finance costs (net)	6,826.45	5,150.17	6,021.19	24,471.33	21,308.78	1,738.10	1,493.74	1,187.27	6,186.14	5,247.76
   7	Prolit/( Loss) from ordinary activities after
   fina nee costs but before exception a I items (S -
   8	61 Exceptional Items	(47,681.77)	(48,923.02)	(52,251.01) 11,595.90	(108,953.28) .	(57,435.71) 11,595.90	32.06	243.30	2,443.61	1,787.02	5,154.57
   9	Profit/(Loss) from ordinary activities before
   tax (7 ·8)	(47,681.77)	{48,923.02)	(63,846.91)	(108,953.28)	(69,031.61)	32.06	243.30	2,443 .61	1,787.02	5,154.57
   10	Tax exp ense
   Current	115 27	(56.54)	652.19	248.73	1,058.16	15 00	30 00	143.71	100.00	200.00
   Deferred	771.36	598.41	77 1.36	599.85
   11	Net Profit /(Loss) from ordinary activities after
   tax (9 -10)	(48,568.40)	{48,866.48)	(65,097.51)	(109,973.37)	(70,689.62)	17.06	213.30	2,299.90	1,687.02	4,954.57
   12	Extraordin ary items
   13	Net Profit /(Loss} for the period (11 + 12)	(48,568.40)	(48,866 .48)	{65,097.51)	(109,973.37)	(70,689.62)	17.06	213.30	2,299.90	1,687.02	4,954.57
   14	Minority interest	357.46	(16,873.03)	(21,067.60)	20,960.72)	(25,737.07)
   15	Net Profit /(Loss} after taxes, minority Interest
   and share of prof it / (loss) of associates (13 -
   141	(48,925.86)	(31,993.45)	{44,029.91)	{89,012.65)	(44,952.55)	17.06	213.30	2,299.90	1,687.02	4,954.57
   16	Paid -up equity share capital (Face Value Re. 1/·	2,448.92	2448.92
   eachl	2448.92			2448.92	2448.92	2,448.92	2448.92	2448.92	2,448.92	2,448.92
   17	Reserve excluding Revaluation Reserves as per
   balance sheet of previous accounting year
   82,698.74	195,442.85	69,242 .83	67,650 .13
   18.i	Earnings per share (before extraordinary
   itemsI (of Re.1/·eachl Inot annualised):
   (a} Basic (Rs.}	(19.98)	{13.06)	(17.98)	{36.35)	(18.36)	O.Ql	0.09	0.94	0.69	2.02
   (b) Diluted (Rs.)	(19.98)	(13.06)	(17.98)	(36.35)	(18.36)	0.01	0.09	0.94	0.69	2.02
   18.ii	Earnings per share (after extraordinary items}
   	(of Re.1/- each) (not annualised):
   	(a)Basic (Rs.)	(19.98)	(13.06)	(17.98)	(36.35)	(18.36)	O.Ql	0.09	0.94	0.69	2.02
   	(bl Diluted (Rs.)	(19.98)	113.061	(17.981	{36.35)	(18.36)	0.01	0.09	0.94	0.69	2.02

   R

   MERCATOR LIMITED

   Regd. Office: 3rd Floor, Mittal Tower, 8-wing,Nariman Point, Mumbai-400021. 22M_7E3RCATQ Consolidated/Standal one Statement of Assets and Liabilit e l,,

   (Rs.in Lakhs)

   CONSOLIDATED STANDALONE

   Pi!l'!Uol)las Ye. r Erilled Year Ended Vear En"da:d Y:ein Ended 31/Q/ 0.16 :l,LO Yl015 31/03/20!.fi 31/08/.2()15

   I Audited Audited Audited Audited

2. EQUITY AND LIABILITIES

   1Shareholders' funds

   (a) Share capital	2,448.92 2,448.92 2,448.92	2,448.92
   82,698.74 195,442.85 69,242.83 - - -	67,650.13 -
   Sub-total -Shareholders' funds	85,147.66 197,891.77 71,691.75	70,099.05

3. Reserves and surplus

4. Money received against share warrants

5. 2 Share application money pending allotment - - - -

   	2,951.57	25,368.02	- -
   160,913.36 -	250,667.41 -	73,449.46 70,931.26
   (c) Other long-term liabilities	5,343.21	14,752.71	527.44 864.75
   (d) ong term provisions	398.50	533.96	185 .06 258.15
   Sub-total-Non-Current liabilities	166,655.07	265,954.08	74,161.96 72,054.16
   5 Current liabilities

6. Minority interest

7. Non -current liabilities

1. ong-term borrowings

2. Deferred tax liabilities (net)

(a) Short-term borrowings 49,247.59 69,981.26 5,008.21 3,823.32

(b) Trade Payables 82,187.68 119,400.99 10,137.47 12,798.07

(c) Other Current liabilities 94,935.41 85,367.65 27,380.04 20,896.52

(d) Short term provisions 679.69 1,850.40 329.21634.38

Sub-total-Current liabilities 227,050.37 276,600.30 42,854.93 38,152.29

TOTAL-EQUITY AND LIABILITIES 481,804.67 765,814.17 188,708.64 180,305.50

8. ASSETS

9. 1Non-current assets

   (a) Fixed assets 334,153.95 560,396.96 114,746.24 97,210.74

   (b) Goodwill on consolidation - -

   (c ) Non-current investments	71.08	137.60	3,444.67	1,655.79
   (d) Deferred tax assets (net)	(321.03)	412.79
   (e) ong- term loans and advances	29,097.85	36,855.05	34,282.65	25,731.82
   (f) Other non-current assets	601.02	297.59	601.02	297.59
   Sub-total-Non-current assets	363,602.87	598,099.99	153,074.58	124,895.94

   2 Current assets

10. Current investments - 398.89 -

(b) Inventories	1,921.41	3,413.67	876.58	690.88
(c ) Trade receivables	57,870.11	81,509.68	16,754.13	23,977.80
(d) Cash and cash equivalents	9,544.38	27,440.49	1,331.04	6,162.81
(e) Short-term loans and advances	22,826.39	30,134.89	16,647.40	24,407.76
(f)Other current assets	26,039.51	24,816.55	24.91	170.31
Sub-total-Current assets	118,201.80	167,714.18	35,634.06	55,409.56
TOTAl - ASSETS	481,804.67	765,814.17	188,708.64	180,305.50

n E RCATOR

MERCATOR LIMITED

Regd. Office: 3rd Floor, Mittal Tower, B-wing, Nariman Point, Mumbai-400021. Tel: 022-66373333 AUDITED FINANCIAL RESULTS FOR THE QUARTER/YEAR ENDED MARCH 31,2016

SBGMENTWISE CON:S0'1.lDATEO REVENUE RE:SUlTS AND GAPITAl EMP.O)rD fOR THE QUA.RTER/Ve-AR

-

ENlilEDlN.lRCH 311,20 6

(Rs in Lakhs}

Quarter E1:1ded Year Ended]

artf,ula:r:s a1'Mai'-l16 :u-oec-ilS" 31..MaM.S 31.wtar-16 !U.-lMar-ilt.S Audited Unaudited udlted Auijfted At1dited

1.Segment Revenue

14,525	20,753	32,764	78,719	101,298
10,43 1	9,416	7,784	38,300	32,121
28,177	37,214	38,506	128,441	153,470
5,450	4,093	6,150	25,182	22,274
_s'si,583	71,47i/	8$,20¥l	27Q,64i	3.09. 63

(net sale/income from each segment should be disclosed under this head)

1. Shipping

2. Offshore

3. Coal (Mining,Procurement and Logistics)

4. Other

,Net sares/lncom 1F,rom 0per.iJ!9_n_s· ·-

2. Segment Results (Profit)(+)/ Loss {-}

before tax and interest from Each segment)

(a) Shipping {41,915) (48,204) (61,053) (96,991) (64,375)

(b) Offshore 3,012 3,180 1,719 10,091 9,176

(c) Coal (Mining,Procurement and Logistics) (1,785) 982 1,014 1,463 6,638 (d) Other (166) 269 1,715 955 2,059

Less: (i) Interest 6,826 5,150 7,242 24,471 22,530

3. Capital Employed (Segment assets - Segment Liabilities)
(a) Shipping	185,748	347,645	415,793	185,748	415,793
(b) Offshore	71,547	81,979	78,737	71,547	78,737
(c) Coal (Mining, Procurement and Logistics)	63,406	76,392	90,076	63,406	90,076
(d) Others/Unallocated	(232,308)	(337,581)	(361,346)	(232,308)	(361,346)

:rqtt Pro.fitJ3-efor.e t:a.is - _i(47·,682:) (48}923) (63184$)' - .( 0.8,9'53.) ('.q9,03})

Total

- 22-3·,260

·- ·-· -·- - 88,394 168,43'6 223,260 aa,394: .... .. •..JI.