One of the small-cap EV stocks engaged in the business of Manufacturing and Trading Electronic vehicles and other related renewable energy products. The stock has jumped to an intraday high of 2.97% after reporting September quarter results in 2024. The company’s revenue increased by 403.36 percent QOQ to Rs. 19.48 crore, and net profit increased by 226.53 percent QOQ to Rs. 1.6 crore.
Stock movement:
After the announcement of its quarterly results, Mercury Ev-Tech Limited‘s stock surged intraday high of 2.97 percent, reaching an upper circuit of Rs. 104 per share on Monday, up from its previous closing price of Rs. 101 per share. As of November 18, 2024, the company’s market capitalization is approximately Rs. 1,806.38 crore.
Q2 FY25 Result Walkthrough:
Ahead of its quarterly results, Mercury Ev-Tech Limited reported a significant year-on-year (YoY) increase in consolidated revenue from operations, rising by 252.9 percent from Rs. 5.52 crore in Q2 FY24 to Rs. 19.48 crore in Q2 FY25. On a quarter-on-quarter (QoQ) basis, revenue grew by 403.36 percent compared to Rs. 3.87 crore in Q1 FY25.
The company’s EBIT margin also showed remarkable YoY growth, increasing by 226 percent from Rs. 2.02 crore in Q2 FY24 to Rs. 0.62 crore in Q2 FY25. Consolidated net profit for Q2 FY25 rose by 171.19 percent YoY to Rs. 1.6 crore, up from Rs. 0.59 crore in the same quarter of the previous year. Compared to Q1 FY25, net profit saw a 226.53 percent increase from Rs. 0.49 crore.
Basic earnings per share (EPS) improved by 125 percent, reaching Rs. 0.09 in Q2 FY25, compared to Rs. 0.04 in the corresponding quarter of the previous year.
Regarding return ratios, the company’s return on equity (ROE) stands at 2.96 percent, while the return on capital employed (ROCE) is at 3.05 percent. Additionally, Mercury Ev-Tech Limited maintains a debt-to-equity ratio of 0.94x and price to earning ratio is to be
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Products and services:
Mercury EV-Tech offers a comprehensive ecosystem of electric mobility solutions. The company product lineup includes diverse electric vehicles for personal and commercial use, supported by cutting-edge battery systems featuring enhanced energy density and fast charging capabilities. The company also develops and maintains charging infrastructure to ensure seamless EV adoption.
Shareholding pattern:
Mercury Ev-Tech Limited had a majority stake of 62.10 percent held by promoters, 0.16 percent by foreign institutional investors, and 37.73 percent by the general public as of September 2024.
Company Overview:
Mercury Ev-Tech Limited was established in 1986 and leads India’s electric vehicle sector, manufacturing a diverse range of vehicles from scooters to vintage cars. The company produces essential components in-house, including batteries and motor controllers.
The company’s brands include Thunderbolt for two-wheelers and Thunderbolt DODO and LIMOSA for three-wheelers. The company’s advanced manufacturing facilities include assembly lines and CED paint systems. They create custom electric vehicles for hospitality, golf courses, and resorts.
Written By – Nikhil Naik
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