Mercator has reportedly reduced debt by almost Rs 600 crore on standalone basis in FY13. Following this, the company’s debt as on March 31, 2013 stood at Rs 625 crore on standalone basis. Meanwhile, the company’s coal business stood flat in FY13. Though, the company is expecting FY14 volume to be substantially higher than FY13.
Mercator is the second-largest private sector shipping company on a consolidated basis in India, in terms of tonnage capacity. The group has a presence in varied segments namely shipping, offshore services, oil exploration and production, dredging, coal mining/trading and logistics.
