By Chaitanya | BBA Finance Graduate & 6+ Years of Experience in Stock Market & Finance
Mercury EV-Tech Ltd, a promising Gujarat-based electric vehicle manufacturer, has been capturing attention in the Indian market. On August 18, 2025, the company’s shares experienced a notable uptick, closing at Rs 47.99 per share, a 4.14% increase from its previous close of Rs 46.08. This positive movement aligns with the company’s impressive financial performance and strategic initiatives in the rapidly expanding EV sector, underscoring Mercury EV-Tech’s commitment to the “Make in India” vision.
Strong Financial Performance Fuels Optimism
The recent surge in Mercury EV-Tech’s share price is largely backed by its robust financial results for Q1 FY26. The company reported a phenomenal 482% increase in revenue for the quarter, alongside a significant 235% jump in Profit After Tax (PAT). These figures, as per the company’s latest financial disclosures, highlight a period of accelerated growth and operational efficiency.
Looking at the consolidated financial summary over recent years, a clear upward trajectory is evident. Net Sales have grown substantially, from Rs 1 crore in March 2022 to Rs 90 crore by March 2025, reaching Rs 108 crore over the Trailing 12 Months (TTM). Operating Profit and Earnings Per Share (EPS) have also shown consistent improvement, reflecting the company’s expanding scale.
Key Financial Metrics at a Glance (Consolidated, Rs Crore)
| Financial Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM (Trailing 12 Months) |
|---|---|---|---|---|---|
| Net Sales | 1 | 16 | 22 | 90 | 108 |
| Operating Profit | 0 | 2 | 3 | 8 | 9 |
| Operating Profit Margin (OPM %) | 24% | 10% | 13% | 9% | 9% |
| Interest | 0 | 0 | 0 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 1 | 1 |
| Profit Before Tax | 0 | 2 | 3 | 10 | 11 |
| Tax % | 28% | 13% | 31% | 23% | |
| EPS (Rs) | 0.01 | 0.08 | 0.11 | 0.42 | 0.50 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
A Journey of Multibagger Returns
For long-term investors, Mercury EV-Tech Ltd has delivered impressive returns. The stock has posted an astonishing 880% gain over the past three years and a phenomenal 7,800% gain over the last five years. Despite this remarkable historical performance, the share price on August 18, 2025, was Rs 47.99, trading near its 52-week low of Rs 45.70. This is a significant drop from its 52-week high of Rs 139.20. In fact, the stock has decreased by 34.34% in the last six months and 37.87% in the last year, according to data from financial news outlets.
Decoding Growth and Returns
| Metric | 3 Years | TTM |
|---|---|---|
| Compounded Sales Growth (%) | 324% | 454% |
| Compounded Profit Growth (%) | 225% | 411% |
| Stock Price CAGR (%) | 109% | |
| Return on Equity (%) | 4% |
Expanding Footprint and “Make in India” Vision
Mercury EV-Tech’s strategy goes beyond financial numbers; it’s deeply rooted in building a robust electric vehicle ecosystem within India. The company recently inaugurated a new EV showroom in Bhavnagar, Gujarat, situated near Jashonath Circle. This strategic expansion is a significant step in promoting “Make in India” electric vehicles and catering to a diverse customer base. The showroom aims to offer a wide range of electric vehicles, from two-wheelers to tempos, meeting various transportation needs.
Shri Jayesh Thakkar, the Chairman of Mercury EV-Tech, consistently emphasises the environmental and economic advantages of electric mobility, a vision strongly supported by political dignitaries at the showroom launch. The company’s business operations are truly end-to-end, encompassing in-house manufacturing of crucial EV components such as batteries, chassis, and motor controllers. Furthermore, they possess a advanced CED coating plant, showcasing their integrated approach and commitment to self-reliance in the Indian EV landscape.
Understanding Key Valuation Ratios
For investors considering Mercury EV-Tech, it’s essential to examine its valuation ratios, which provide insights beyond just growth figures. As of FY 2025, some key ratios include:
Additional Financial Ratios (FY 2025)
| Return on Equity (ROE) | 2.70% |
| Return on Capital Employed (ROCE) | 3.56% |
| Return on Assets (ROA) | 2.22% |
| Price to Earnings (P/E) Ratio | 151.52 (FY 2025), 109.71 (TTM as of Aug 18, 2025) |
| Price to Book (P/B) Ratio | 4.07 (FY 2025) |
| EV/EBITDA | 93.13 (FY 2025) |
| EBITDA Margin | 12.90% (FY 2025) |
The Price to Earnings (P/E) ratio, standing at 151.52 for FY 2025 and 109.71 for TTM (as of August 18, 2025), suggests that the market has high expectations for the company’s future earnings growth. Similarly, the Price to Book (P/B) ratio of 4.07 also indicates a premium valuation.
Recent Market & Trading Insights
The current market capitalisation of Mercury EV-Tech Ltd stands at Rs 875.40 crore as of August 18, 2025. While the stock has seen a significant long-term growth trajectory, recent price movements show a degree of volatility. Data indicates that its 52-week price range has been between Rs 45.05 (low) and Rs 139.20 (high). Significant traded volumes, particularly at prices around Rs 96.97, as observed in recent trading insights, might indicate interest from larger market participants or institutional trading activity.
Current Market & Trading Insights
| Qty | Price (Rs) | % Traded |
|---|---|---|
| 3,500,000 | 96.97 | 1.84% |
| 925,293 | 96.97 | 0.49% |
| 925,293 | 96.95 | 0.49% |
Latest News and Updates about Mercury EV-Tech Ltd
- August 18, 2025: Shares surged 4.14% after reporting Q1 FY26 revenue growth of 482% and PAT jump of 235%.
- May 23, 2025: Consolidated net sales for March 2025 stood at Rs 30.68 crore, up 450.61% year-over-year. Standalone net sales were Rs 20.17 crore, up 339.11% Y-o-Y.
- March 3, 2025: Consolidated net sales for December 2024 were Rs 35.60 crore, an increase of 678.11% year-over-year.
- August 18, 2025: Market capitalisation reported at Rs 875.40 crore and stock price at Rs 45.67, with 52-week low Rs 45.05 and high Rs 139.20.
- Latest Bulk Deals: Significant traded volumes at prices near Rs 97, indicating institutional trading interest.
The Road Ahead for Mercury EV-Tech
Mercury EV-Tech Ltd clearly presents a compelling growth narrative within India’s burgeoning electric vehicle sector. Its historical multibagger returns and impressive Q1 FY26 financial performance underscore its potential. While the stock has seen some recent corrections from its highs, its strategic focus on end-to-end “Make in India” manufacturing and expanding showroom footprint positions it strongly for future growth in the domestic market. Mercury EV-Tech’s Growth trajectory makes it a company to watch closely in the coming years.
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