Mercury Ev-Tech share price & results
- Jun 2026
- Sept 2026
Vadodara-based electric vehicle manufacturer of two/three-wheelers with in-house lithium-ion battery, tractor-component and premium-EV subsidiaries
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 20.7 | +321.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 14.9 | +8.6 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 1.4 | +300.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 1.64 | −3.0 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -55.16 | +19.9 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 4.21 | −291.1 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −20.7% 1Y
1Y: ₹42.21 on 24 Oct 2025 → ₹33.49. High ₹43.92 (3 Nov 2025), low ₹20.33 (30 Mar 2026).
- Previous close
- ₹31.19
- Market cap
- ₹634 Cr
- 52-week range
- ₹20.33 – ₹43.92
- One year
- −20.56%
- Price to earnings (TTM to Jun 2026)
- 139.04×
- Return on equity (TTM to Jun 2026)
- 1.64%
Overview
- Symbol
- NSE:MERCURYEV
- Industry
- Consumer Discretionary
- Exchange
- NSE
- Currency
- INR
What Mercury Ev-Tech Limited does
Based on the company's own presentations, annual report and earnings calls.
Mercury EV-Tech designs, manufactures and sells electric two- and three-wheelers from its in-house manufacturing facility at Vadodara, Gujarat, distributing through a network of company showrooms. Through wholly owned subsidiary Powermetz Energy it also manufactures lithium-ion battery cells, Battery Management Systems, chargers, UPS/inverters and other energy-storage products, vertically integrating its EV battery supply. It has additionally acquired stakes in Traclaxx Tractors (tractor and tractor-component manufacturing), Haitek Automotive (multi-fuel vehicle manufacturing and distribution in eastern India) and DC2 Mercury Cars (premium, design-led EVs), extending its product range beyond mass-market two/three-wheelers.
Segments
- Electric two/three-wheelers
- Energy storage systems (Powermetz Energy)
- Tractor components (Traclaxx Tractors)
- Multi-mode vehicle manufacturing (Haitek Automotive)
- Premium/design-led EVs (DC2 Mercury Cars)
- EV manufacturing facility
- In-house facility at Vadodara, Gujarat
- Lithium-ion battery manufacturing capacity
- 3.2 GW (LFP, NMC, Sodium-Ion cells, supercapacitor modules) at Vadodara campus
- Showroom network
- 12 locations across Gujarat, Maharashtra, Punjab, Delhi & West Bengal
- EV models in production
- 11
- Upcoming EV models
- 3 (Mushak, Mushak Green, Tanq)
- Subsidiaries / acquired businesses
- 4 (Powermetz Energy, Traclaxx Tractors, Haitek Automotive, DC2 Mercury Cars)
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 5 fiscal years held (Mar 2022 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +300% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 14 | 31 | 20 | 5 | 15 | 11 | 14 | 21 |
| Expenses | 13 | 25 | 20 | 5 | 14 | 9 | 15 | 18 |
| Operating profit | 1 | 6 | 1 | 0 | 2 | 2 | -2 | 3 |
| Operating margin | 7.9% | 18.3% | 2.8% | 6.3% | 11.9% | 16.9% | −12.1% | 14.9% |
| Other income | 0 | 0 | 1 | 0 | 1 | 0 | 4 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Profit before tax | 1 | 5 | 1 | 0 | 2 | 1 | 1 | 2 |
| Tax rate | 25.6% | 26.0% | 6.7% | 27.1% | 27.2% | 26.2% | 53.0% | 15.3% |
| Net profit | 1 | 4 | 1 | 0 | 1 | 1 | 1 | 1 |
| EPS (₹ per share) | 0.05 | 0.21 | 0.06 | 0.02 | 0.06 | 0.04 | 0.03 | 0.08 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 16 | 19 | 68 | 45 |
| Expenses | 24 | 16 | 60 | 43 |
| Operating profit | -8 | 3 | 8 | 2 |
| Other income | 10 | 1 | 1 | 5 |
| Interest | 0 | 0 | 1 | 0 |
| Depreciation | 0 | 0 | 1 | 3 |
| Profit before tax | 2 | 3 | 8 | 4 |
| Net profit | 2 | 2 | 6 | 3 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 |
|---|---|---|---|---|---|---|
| Equity capital | 1 | 1 | 17 | 18 | 19 | 19 |
| Reserves | 0 | 1 | 33 | 63 | 261 | 263 |
| Borrowings | 0 | 0 | 22 | 25 | 2 | 2 |
| Other liabilities | 0 | 0 | 4 | 11 | 14 | 23 |
| Total liabilities | 1 | 1 | 76 | 116 | 297 | 307 |
| Fixed assets | 0 | 0 | 2 | 5 | 7 | 55 |
| Capital work in progress | 0 | 0 | 9 | 43 | 55 | 10 |
| Investments | 0 | 0 | 0 | 0 | 3 | 3 |
| Other assets | 1 | 1 | 65 | 68 | 231 | 239 |
| Total assets | 1 | 1 | 76 | 116 | 297 | 307 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash from operations | -0 | -15 | -15 | -32 | -23 |
| Cash from investing | 0 | -46 | -25 | -133 | 3 |
| Cash from financing | 0 | 69 | 31 | 170 | 18 |
| Net cash flow | -0 | 8 | -8 | 5 | -2 |
| Free cash flow | -0 | -26 | -37 | -45 | -65 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 0 | 0 | 183 | 255 | 177 | 348 |
| Inventory days | 0 | 0 | 219 | 129 | 85 | 346 |
| Days payable | — | — | 107 | 148 | 73 | 157 |
| Cash conversion cycle | 0 | 0 | 295 | 236 | 190 | 536 |
| Working capital days | 13 | 68 | 1423 | 999 | 865 | 1416 |
| Return on capital employed | −7.7% | 25.8% | 3.0% | 3.7% | 4.6% | 1.6% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Ownership
Who owns it
Promoters hold 55.36% as of Sept 2026; institutions cut 1.13 pts since Jun 2026.
- Promoters 55.36%
- Foreign institutions 0.57%
- Government 0.01%
- Public 44.05%
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- newly disclosed 1.05% held
The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Sep 2026 filing
Every holder of Mercury Ev-Tech Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 21.95% | unchanged | |
| 18.82% | −3.81 pp | |
| 14.59% | unchanged | |
| 2.59% | unchanged | |
| 1.53% | unchanged | |
| 1.05% | newly disclosed | |
| FPI fund | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Your own record
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