Mercury Trade Links Ltd (512415)

Mercury Trade Links announced that Mr. Dinesh Kumar Koli and Ms. Nidhi Jayantibhai Thakar have resigned from their roles as Non-Executive Independent Directors effective August 28, 2026. Both directors cited inability to assume office due to pre-occupations, confirming no other material reasons existed. The company is currently under an Interim Resolution Professional (IRP), Manish Kumar Bhagat, signaling ongoing insolvency proceedings. The micro-cap firm has a market capitalization of Rs 8 Cr and zero promoter holding.

• Resignation of 2 Non-Executive Independent Directors effective August 28, 2026
• Filing signed and submitted by Interim Resolution Professional (IRP) Manish Kumar Bhagat
• Both directors cited pre-occupations after being appointed on August 28, 2026
• Company trades at a market cap of Rs 8 Cr with 0.0% promoter holding

Mercury Trade Links Ltd has received a notice from Fettech Commercial Enterprises Private Limited proposing the initiation of Corporate Insolvency Resolution Process (CIRP) under Section 9 of the IBC. The notice, dated January 13, 2026, concerns an alleged operational debt, though the specific amount was not disclosed in the filing. As of the disclosure date (August 03, 2026), no application has been admitted by the NCLT. The company, which has a small market cap of Rs 10 Cr and 0% promoter holding, is currently seeking legal advice to defend the matter.

• Notice received from Fettech Commercial Enterprises Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016.
• Significant delay in disclosure: Notice is dated January 13, 2026, but was reported to the exchange on August 03, 2026.
• Company currently has a market capitalization of only Rs 10 Cr against a total debt of Rs 7 Cr.
• Promoter holding is 0.0%, indicating a lack of skin-in-the-game during legal distress.
• No application has been admitted by the NCLT as of August 03, 2026.

Mercury Trade Links reported a massive net loss of Rs 63.64 Cr for Q1 FY27, which is over six times its total market capitalization of Rs 10 Cr. While revenue stood at Rs 96.64 Cr, the company's bottom line was severely impacted by unexplained expenses or adjustments in a poorly formatted filing. Critically, the statutory auditor has flagged a default on Inter-Corporate Deposits (ICD) amounting to Rs 11.16 Cr, for which the company has received a formal recovery notice. With 0% promoter holding and a default amount exceeding its market value, the company faces extreme solvency risks.

• Reported a massive net loss of Rs 63.64 Cr for the quarter ended June 30, 2026
• Statutory auditor confirmed a default on Inter-Corporate Deposits (ICD) of Rs 11.16 Cr
• Company has received a formal loan recovery notice for the defaulted Rs 11.16 Cr plus interest
• Revenue from operations for the quarter was Rs 96.64 Cr, representing ~74% of FY26 TTM revenue
• Promoter holding remains at 0.0%, leaving the company entirely in public hands during this crisis

Mercury Trade Links reported a standalone net profit of Rs 3.52 Cr for Q1 FY27, a significant recovery from a loss of Rs 0.13 Cr in Q1 FY26. Revenue for the quarter stood at Rs 96.64 Cr, matching the previous quarter's high performance. However, the statutory auditor has issued a qualified opinion, highlighting a default on Inter-Corporate Deposits (ICD) and a recovery notice for Rs 11.16 Cr plus interest. This default amount is highly material, representing approximately 111% of the company's current market capitalization of Rs 10 Cr.

• Revenue from operations reported at Rs 96.64 Cr for the quarter ended June 30, 2026.
• Net profit reached Rs 3.52 Cr, compared to a net loss of Rs 0.13 Cr in the same period last year.
• Statutory auditors flagged a default in repayment of Inter-Corporate Deposits totaling Rs 11.16 Cr.
• Total expenses for the quarter were Rs 93.11 Cr, with purchase of stock-in-trade accounting for Rs 83.11 Cr.
• Earnings Per Share (EPS) for the quarter stood at Rs 2.59 (not annualized).