Arthneeti

Mercury EV-Tech Q2 FY27 Share Price & Earnings Call Analysis

₹33.08+3.25% today
Market cap
₹628 Cr
P/E
142.82
ROE
1.58%
PEG
3.04
Price to sales
5.76
Debt to equity
0.09
52W high / low
₹43.9 / ₹20.3
EBITDA margin
8.88%
Net profit margin
4.33%
Promoter holding
55.36%
Sales (last year)
₹109 Cr

Incorporated in 1986, Mercury Ev-Tech Ltd is in the business of Manufacturing and Trading of Electronic vehicles and other related renewable energy products[1]

Potential multibaggers · Q2 FY27

Potential multibaggers in Automobiles
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. M & MGood growth
    3
See all potential multibaggersWhere does Mercury EV-Tech rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Automobiles companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Flat₹69,694 Cr—
240%+Flat₹2,199 Cr78.8
3M & M20–40%Flat₹3.53L Cr18.4
420–40%Flat₹1.99L Cr51.7
520–40%Flat₹1.98L Cr34.1
620–40%Flat₹16,586 Cr—

Sign up free to see every company in the sector ranking and track Mercury EV-Tech.

Pro shows every company guiding 40%+ revenue growth →Full Automobiles ranking

Mercury EV-Tech announcements

All announcements →

Financials of Mercury EV-Tech

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Mercury EV-Tech

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +62.10%62.10%62.10%62.10%59.17%59.17%59.17%59.17%59.17%59.17%59.17%55.36%
FIIs +0.00%0.00%0.00%0.16%1.69%1.92%1.90%1.90%2.68%2.44%1.70%0.57%
Government +0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.01%0.01%0.01%0.01%0.01%
Public +37.90%37.88%37.91%37.73%39.13%38.91%38.92%38.92%38.14%38.37%39.10%44.05%
No. of Shareholders40,84444,18545,30947,75758,18762,90067,99175,70775,91476,42575,06274,700

Pros & Cons

Mercury EV-Tech

Key positives and risks surfaced from the company insights section.

Pros
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding has decreased over last quarter: -3.81%
  • Company has a low return on equity of 2.70% over last 3 years.
  • Earnings include an other income of Rs.5.27 Cr.
  • Company has high debtors of 187 days.
Raw Insights
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding has decreased over last quarter: -3.81%
  • Company has a low return on equity of 2.70% over last 3 years.
  • Earnings include an other income of Rs.5.27 Cr.
  • Company has high debtors of 187 days.

Financials of Mercury EV-Tech

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +5.524.585.573.8719.4835.6030.6822.5734.0125.2920.2133.3830.09
Expenses +4.903.615.192.9717.4629.5331.5520.4531.0022.9122.5530.1223.71
Operating Profit0.620.970.380.902.026.07-0.872.123.012.38-2.343.266.38
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%21.20%
Other Income +0.500.000.000.000.400.182.870.500.640.024.710.360.18
Interest0.140.12-0.050.070.080.310.410.130.080.200.390.730.94
Depreciation0.080.120.080.170.210.160.220.301.221.001.130.943.33
Profit before tax0.900.730.350.662.135.781.372.192.351.200.851.952.29
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%46.72%
Net Profit +0.590.530.230.491.604.281.551.271.720.890.301.651.56
EPS in Rs0.040.030.010.030.090.230.080.070.090.050.020.090.08

Financials of Mercury EV-Tech

Profit & Loss

Annual income statement trend

Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +1162289101109
Expenses +11419819699
Operating Profit0238510
OPM %24%10%13%9%5%9%
Other Income +000365
Interest000112
Depreciation000146
Profit before tax0231076
Tax %28%13%31%23%34%
Net Profit +012844
EPS in Rs0.120.080.110.410.230.24
Dividend Payout %0%0%0%0%0%

Financials of Mercury EV-Tech

Balance Sheet

Capital structure and asset base

Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital0.701718191919
Reserves13363258259262
Borrowings +0235662444
Other Liabilities +0414535549
Total Liabilities177151336357373
Fixed Assets +03337449595
CWIP0943593236
Investments000000
Other Assets +13571233230242
Total Assets177151336357373

Financials of Mercury EV-Tech

Cash Flows

Operating, investing and financing cash movement

Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-0-14-15-44-32
Cash from Investing Activity +0-48-55-9019
Cash from Financing Activity +0706113911
Net Cash Flow-08-85-1
Free Cash Flow-0-56-38-67-55
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit-129%-860%-493%-533%-611%

Financials of Mercury EV-Tech

Ratios

Working capital efficiency and return ratios

Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days0112228157187
Inventory Days0227154228352
Days Payable91177104105
Cash Conversion Cycle0249205281434
Working Capital Days68460860579610
ROCE %4%3%5%3%
21out of 100

Momentum score · price trend

21 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−26.6%27%
Last 6 months+1.4%57%
Last 3 months−9.6%46%

The price is 75.3% below its all-time high of ₹129.8 (15 Dec 2023). Stocks more than 20% below their peak have their score halved, so 43 became 21.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Mercury EV-Tech: 0.4 × 27 + 0.4 × 57 + 0.2 × 46 = 43, halved to 21 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Mercury EV-Tech's management said in earlier quarters

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