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Mercury Ev-Tech Ltd.

Mercury Ev-Tech Ltd.

MERCURYEV.BO
Mercury Ev-Tech Ltd.IN flagBombay Stock Exchange
35.58
INR
-0.29
- -
6.76BMarket Cap
Mercury Ev-Tech Ltd.
MERCURYEV.BO
(Bombay Stock Exchange)

Recent

price

35.58

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
0.13
0.52
- -
0.25
0.4
0.21
0.08
0.35
0.43
- -
0.59
0.43
0.94
1.25
4.59
5.12
5.37
Revenue per Share
-0.03
-0.93
-0.02
-1.09
0.01
-0.06
-0.04
-0.13
-0.06
-0.07
-0.05
0.12
0.08
0.11
0.39
0.22
0.23
Basic EPS, GAAP
0.1
0.35
-0.03
- -
- -
- -
0.01
-0.1
- -
-0.01
0.53
-0.18
-3.36
-2.13
-3.41
-2.78
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
-4.15
-5.08
-5.11
-6.19
-6.18
-6.78
-6.82
-6.95
-7.01
0.29
0.36
-7.01
0.22
0.37
0.97
0.95
1
Book Value per Share
1.5
0.57
0.54
-0.54
1.52
0.95
0.97
0.75
0.69
0.62
0.58
0.7
3
4.56
14.23
13.99
14.69
Tangible Book Value per Share
19
19
19
19
19
19
19
19
19
19
19
19
167
176
195
199
190
Basic Weighted Avg Shares
3
10
- -
5
8
4
1
7
8
- -
11
8
156
220
896
1,021
1,021
Sales/Revenue/Turnover
-20.13
-25.01
- -
-11.03
2.93
-26.78
-48.25
-25.71
-14.58
- -
-10.48
33.34
10.21
11.76
8.21
2.52
2.1
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
1
3
8
36
36
Depreciation Expense
-1
-18
- -
-21
- -
-1
-1
-3
-1
-1
-1
2
14
20
77
44
44
Net Income, GAAP
- -
- -
- -
- -
20.06
- -
- -
- -
- -
- -
- -
26.92
13.17
31.01
22.59
33.33
33.64
Effective Tax Rate (%)
-20.13
-179.89
- -
-438.81
2.68
-26.48
-48.25
-38.56
-14.58
- -
-7.66
27.75
8.93
9.05
8.59
4.3
4.31
Profit Margin (%)
59
48
47
26
26
15
14
15
13
12
11
10
294
528
1,976
1,735
1,735
Working Capital
33
40
40
40
- -
- -
- -
- -
- -
- -
- -
- -
228
535
38
29
29
LT Debt
29
11
11
-11
29
18
19
15
13
12
11
14
501
807
2,782
2,791
2,791
Total Equity
- -
- -
- -
- -
0.61
- -
- -
- -
- -
- -
- -
15.85
3.7
1.69
2.69
0.6
0.49
Return on Invested Capital (%)
- -
- -
- -
- -
-0.21
- -
- -
- -
- -
- -
- -
-3.57
21.65
4.81
19.03
19.52
20.83
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
-13.95
- -
- -
39.14
60.19
23.1
23.17
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
16
- -
21
LT Borrowings
55
- -
29
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
190
- -
190
Market Capitalization
9,358
7,367
3,862

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
2,335
- -
2,257
Cash, Cash Equivalents & STI
88
- -
377
Accounts Receivable, Net
564
- -
473
Inventories
609
- -
719
Total Current Liabilities
693
- -
522
Payables & Accruals
- -
- -
- -
ST Debt
16
- -
21
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
388.49%
786.11%
0.32%
Free Cash Flow
901.75%
3,083.2%
-16.95%
Net Income, GAAP
57.89%
85.58%
-43%
Sales/Revenue/Turnover
- -
422.19%
13.88%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
72
55
46
56
220
2025
39
195
356
307
896
2026
226
340
253
202
1,021

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
0.04
0.03
- -
0.11
2025
0.03
0.09
0.22
0.06
0.39
2026
0.09
0.09
0.05
0.01
0.22

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
Mercury Ev-Tech Limited manufactures and trades electric vehicles, related components, and renewable energy products in India. The company offers a comprehensive range of electric vehicles including electric scooters, electric cars such as Mercury EZ low-speed passenger vehicles, electric buses, electric vintage cars, electric golf cars, electric three-wheelers including e-rickshaws, electric loaders such as Voltus E-Loader and Mushak Mini Truck, and custom electric vehicles for applications in hospitality, industry, golf courses, clubs, resorts, and commercial fleets; it also produces core EV components encompassing batteries and lithium-ion battery systems through subsidiary Powermetz Energy Private Limited, battery management systems, chassis via in-house manufacturing, and motor controllers, alongside operating a state-of-the-art cationic electro deposition (CED) coating plant, Gujarat's first and India's fourth largest, for precision coating and corrosion resistance. Mercury Ev-Tech Limited serves consumer, commercial, and industrial markets with an emphasis on sustainable mobility solutions supporting India's Atmanirbhar Bharat initiative. Incorporated in 1986 and headquartered in Vadodara, Gujarat, the company, formerly known as Mercury Metals Limited, changed its name to Mercury Ev-Tech Limited in March 2023 to reflect its strategic pivot to the electric vehicle sector. Its subsidiaries include EV Nest Private Limited, Powermetz Energy Private Limited, and recently acquired entities such as 70% of Haitek Automotive Private Limited in October 2024 for Rs 3.5 million to expand three-wheeler manufacturing and distribution in West Bengal, and 69.84% of DC2 Mercury Cars Private Limited in early 2025 for Rs 2.5 crore to bolster automotive operations. Recent developments include securing Gujarat Energy Development Agency (GEDA) approval in 2024 for lithium-ion battery-powered e-rickshaws in Gujarat, commissioning a 3.2 GW multi-chemistry battery plant in Vadodara in April 2025 through its subsidiary, signing a memorandum of understanding with Hydrogen Horizons UK and Israel for a 60:40 joint venture to commercialize hydrogen storage technology in Hydra Pak vessels, awaiting National Company Law Tribunal final order on merger with EV Nest Private Limited, and expanding retail footprint with three new showrooms in South India's Tamil Nadu districts of Tiruvannamalai, Cuddalore, and Chengalpattu in November 2025. These initiatives underscore the company's aggressive growth in EV production, clean energy technologies, and regional market penetration.