MarketFriction

Mercury EV-Tech Ltd

NSE MERCURYEV · BSE 531357 · Passenger Cars & Utility Vehicles
₹37.06 -2.91%
NSE close2026-10-01
52 week range30.16 - 44.05
Market cap₹735 Cr.
P/E161
Price band 10% Delivery 44.2%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales5.524.585.573.8719.4835.6030.6822.5734.0125.2920.2133.38
Expenses4.903.615.192.9717.4629.5331.5520.4531.0022.9122.5530.12
Operating Profit0.620.970.380.902.026.07-0.872.123.012.38-2.343.26
OPM %11.23%21.18%6.82%23.26%10.37%17.05%-2.84%9.39%8.85%9.41%-11.58%9.77%
Other Income0.500.000.000.000.400.182.870.500.640.024.710.36
Interest0.140.12-0.050.070.080.310.410.130.080.200.390.73
Depreciation0.080.120.080.170.210.160.220.301.221.001.130.94
Profit before tax0.900.730.350.662.135.781.372.192.351.200.851.95
Tax %34.44%27.40%31.43%25.76%24.88%25.95%2.92%25.57%21.70%37.50%80.00%20.00%
Net Profit0.590.530.230.491.604.281.551.271.720.890.301.65
EPS in Rs0.040.030.010.030.090.230.080.070.090.050.020.09
Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1162289102113
Expenses114198197107
Operating Profit023856
OPM %24%10%13%9%5%6%
Other Income000366
Interest000111
Depreciation000144
Profit before tax0231076
Tax %28%13%31%23%34%
Net Profit012845
EPS in Rs0.010.080.110.390.220.25
Dividend Payout %0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth%%85%4%
Compounded Profit Growth%%45%-48%
Stock Price CAGR%125%-8%-18%
Return on Equity%3%3%2%
Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital0.7017181919
Reserves13363258261
Borrowings0235667
Other Liabilities04145370
Total Liabilities177151336358
Fixed Assets033374492
CWIP09435928
Investments00000
Other Assets13571233238
Total Assets177151336358
Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-0-14-15-44
Cash from Investing Activity0-48-55-90
Cash from Financing Activity07061139
Net Cash Flow-08-85
Free Cash Flow-0-56-38-67
CFO/OP-129%-860%-493%-533%
Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days0112228157
Inventory Days0227154228
Days Payable91177104
Cash Conversion Cycle0249205281
Working Capital Days68460860579
ROCE %4%3%5%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters62.56%62.10%62.10%62.10%62.10%59.17%59.17%59.17%59.17%59.17%59.17%59.17%
FIIs0.00%0.00%0.00%0.00%0.16%1.69%1.92%1.90%1.90%2.68%2.44%1.70%
Government0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.01%0.01%0.01%0.01%
Public37.45%37.90%37.88%37.91%37.73%39.13%38.91%38.92%38.92%38.14%38.37%39.10%
No. of Shareholders25,04840,84444,18545,30947,75758,18762,90067,99175,70775,91476,42575,062

Fundamentals

Market Cap₹ 735 Cr.
Current Price₹ 38.7
Stock P/E161
Book Value₹ 14.8
ROCE2.64 %
ROE1.51 %
Dividend Yield0.00 %
Face Value₹ 1.00
Compounded Sales Growth (TTM)4%
Compounded Profit Growth (TTM)-48%
Consolidated figures.
Ownership
Promoter holding59.17% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
PeriodMERCURYEVNifty 50Difference
1 week-4.7%-2.8% -1.9 pts
1 month-1.5%-6.8% +5.3 pts
3 months+4.9%-7.6% +12.5 pts
3 years-24.2%+14.2% -38.4 pts
5 years+5431.3%+27.9% +5403.5 pts

Red flags

lookAuditor change Auditor change 2026-09-30: Mercury Ev-Tech Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹33 Cr +47.9% vs Jun 2025. Net profit ₹2 Cr +29.9%.
Against our estimate for Jun 2026: sales +116.0%, profit +149.0% beat. Our estimate for Sep 2026: sales Rs 36 Cr, profit Rs 2 Cr (how).

Activity

Compare
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Tata Motors Passenger Vehicles Ltd103,4741042.73 %
Force Motors Ltd22,27420.236.0 %
Olectra Greentech Ltd9,33252.621.0 %
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No bulk or block deals on record.
No corporate actions on record.
DateTypeWhat it says
2026-09-30Change in AuditorsChange in Auditors of the company.
2026-09-30General UpdatesGeneral Updates - Appointment of Secretarial Auditor
2026-09-30Shareholder meetingProceedings of Annual General Meeting held on September 30, 2026
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Mercury EV-Tech Ltd?

Mercury EV-Tech Ltd (MERCURYEV) has a market capitalisation of Rs 735 Cr. at the 2026-10-01 close.

What is the P/E ratio of Mercury EV-Tech Ltd?

Mercury EV-Tech Ltd trades at a P/E of 161 on trailing twelve-month profit, at the 2026-10-01 close.

What were Mercury EV-Tech Ltd's latest quarterly results?

In the Jun 2026 quarter, Mercury EV-Tech Ltd sales was Rs 33 Cr (+47.9% vs Jun 2025) and net profit was Rs 2 Cr.

What is the 52-week high and low of Mercury EV-Tech Ltd?

The 52-week high is Rs 44.05 and the 52-week low is Rs 30.16.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03