Mercury Ev-Tech Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2022 • Metal: 100.0%
AI Sector View
AI GENERATEDAutomobile and Auto Components
Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.
PROS
- Company is almost debt free
- Company comfortably covers its interest (14.2x coverage)
CONS
- Operating cash flow has been negative in recent years
- Recent results are weak - TTM profit is down 61.9% versus prior year
- Company has a low return on capital employed of 3.8%
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -6.45x)
- Company has a low return on equity of 3.8% over last 3 years
- Promoter holding has decreased over last 2 years: -2.9pp
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| MARUTI | 12410.00 | 27.22 | 390173.59 | 1.13 | 3446.90 | -9.11 | 52469.80 | 43.27 | 19.03 | 8.41 |
| M&M | 3120.00 | 21.01 | 387981.00 | 1.06 | 5997.56 | 37.04 | 58187.57 | 27.80 | 16.29 | 18.79 |
| HYUNDAI | 2175.00 | 35.70 | 176727.69 | 0.97 | 888.62 | -35.10 | 16334.63 | 0.96 | 38.55 | 9.25 |
| TMPV | 302.00 | 1.40 | 111223.32 | 0.99 | 859.00 | -78.54 | 95799.00 | -7.70 | 0.67 | 6.46 |
| MERCURYEV | 41.75 | 158.53 | 793.14 | 0.00 | 1.56 | -4.18 | 33.38 | 47.91 | 5.17 | 9.77 |
| HINDMOTORS | 13.82 | 0.00 | 288.37 | 0.00 | 0.22 | -94.71 | 0.00 | — | 53.69 | — |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 7 | 6 | 4 | 4 | 5 | 3 | 14 | 31 | 20 | 5 | 15 | 11 | 21 | |
| 6 | 5 | 4 | 3 | 4 | 2 | 13 | 25 | 20 | 5 | 14 | 9 | 19 | |
| Operating Profit | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 6 | 1 | 0 | 2 | 2 | 2 |
| OPM % | 8.53% | 14.96% | 14.46% | 19.32% | 14.81% | 28.68% | 7.91% | 18.33% | 2.83% | 6.52% | 11.94% | 16.95% | 8.17% |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 0 | |
| Interest | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 |
| Profit before Tax | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 5 | 1 | 0 | 2 | 1 | 2 |
| Tax % | 14.04% | 17.58% | 17.58% | 50.85% | 16.18% | 26.42% | 26.45% | 26.02% | 6.67% | 27.08% | 27.22% | 26.21% | 15.33% |
| Net Profit | 0 | 1 | 1 | 0 | 1 | 0 | 1 | 4 | 1 | 0 | 1 | 1 | 1 |
| 0.03 | 0.04 | 0.04 | 0.16 | 0.03 | 0.02 | 0.05 | 0.21 | 0.06 | 0.02 | 0.06 | 0.04 | 0.08 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 1 | 1 | 0 | 1 | 1 | 13 | 19 | 68 | 52 | |
| 1 | 0 | 1 | 1 | 0 | 1 | 1 | 12 | 16 | 60 | 47 | |
| Operating Profit | -0 | -0 | -0 | -0 | -0 | -0 | 0 | 1 | 3 | 8 | 6 |
| OPM % | -26.78% | -48.25% | -38.61% | -14.58% | — | -10.49% | 23.34% | 4.88% | 15.79% | 11.95% | 11.02% |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 3 |
| Profit before Tax | -0 | -0 | -0 | -0 | -0 | -0 | 0 | 1 | 3 | 8 | 5 |
| Tax % | -0.00% | -0.00% | -0.00% | -0.00% | 3.86% | -0.00% | 26.91% | 19.36% | 28.99% | 23.25% | 22.77% |
| Net Profit | -0 | -0 | -0 | -0 | -0 | -0 | 0 | 1 | 2 | 6 | 4 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | -0.19 | -0.13 | 0.33 | 0.05 | 0.12 | 0.34 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 56%
- 5 Years:
- —
- 3 Years:
- 285%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 77%
- 5 Years:
- —
- 3 Years:
- 202%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- -2%
- 5 Years:
- 5%
- 3 Years:
- 4%
- Last Year:
- 5%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 17 | 18 | 19 |
| 2 | 1 | 1 | 1 | 1 | 0 | 1 | 33 | 63 | 176 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 22 | 25 | 3 | |
| Trade Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 6 | 11 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 5 | 88 | |
| Total Liabilities | 3 | 2 | 2 | 1 | 1 | 1 | 1 | 76 | 116 | 297 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 5 | 7 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9 | 43 | 55 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | |
| 1 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 5 | 12 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13 | 33 | |
| Cash & Bank | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 9 | 1 | 56 |
| 1 | 1 | 2 | 1 | 1 | 0 | 1 | 50 | 48 | 131 | |
| Total Assets | 3 | 2 | 2 | 1 | 1 | 1 | 1 | 76 | 116 | 297 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0 | 0 | -0 | -0 | -0 | 1 | -0 | -15 | -15 | -32 | |
| Cash from Investing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -46 | -25 | -133 |
| Cash from Financing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 69 | 31 | 170 |
| -0 | 0 | 0 | -0 | -0 | 1 | -0 | 8 | -8 | 5 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-12 - Mercury Ev-Tech Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-11 - Mercury Ev-Tech Limited has informed the Exchange about General Updates
2026-09-10 - Mercury Ev-Tech Limited has informed the Exchange regarding 'Disclosure Under Regulation 7(2)(A) Of SEBI (Prohibition Of Insider Trading) Regulations, 2015 And Regulation 29(2) Of SEBI (Substantial Acquisition Of Shares And Takeovers) Regulations, 2011'.
2026-09-08 - Mercury Ev-Tech Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026
2026-09-08 - Mercury Ev-Tech Limited has informed the Exchange regarding ''. Disclosure Under Regulation 7(2)(A) Of SEBI (Prohibition Of Insider Trading) Regulations, 2015 And Regulation 29(2) Of SEBI (Substantial Acquisition Of Shares And Takeovers) Regulations, 2011
2026-09-06 - Mercury Ev-Tech Limited has informed the Exchange that Record date for the purpose of is 25-Sep-2026.
2026-09-06 - Mercury Ev-Tech Limited has informed the Exchange regarding Outcome of Board Meeting held on September 06, 2026.
2026-08-31 - Mercury Ev-Tech Limited has informed the Exchange that Record date for the purpose of e-voting for the AGM is 18-Sep-2026.
2026-08-31 - Outcome of Board Meeting held on August 31, 2026
News
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