Mercury Ev-Tech Limited (MERCURYEV)
₹36.58 +1.22% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Mercury Ev-Tech's revenue was ₹33.4 Cr (+47.9% year on year, +65.2% on the previous quarter), and net profit ₹1.6 Cr (+22.7% year on year); the operating margin was 9.8%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹33.4 | +47.9% | +65.2% |
| Operating profit | ₹3.3 | +53.8% | from loss |
| Net profit | ₹1.6 | +22.7% | +419.4% |
| EPS (₹) | 0.09 | +24.3% | +335.0% |
| Operating margin | 9.8% | — | — |
MERCURYEV delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 61.02% of the MERCURYEV shares traded on NSE were taken to delivery, against the stock's own 20-session average of 57.51%. That is close to its usual level. Turnover was only ₹24 lakh, so a handful of trades can move this figure. Volume was under a tenth of its average.
Delivery in the last 5 sessions: 55.6% · 50.8% · 52.0% · 57.4% · 61.0%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Mercury Ev-Tech Limited has submitted its compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2026. The certificate issued by Registrar and Share Transfer Agent, Accurate Securities & Registry Private Limited, confirms that securities received for dematerialisation during the period July 1, 2026, to September 30, 2026, were processed within prescribed timeframes. The shares comprised in the demat requests have been listed on stock exchanges, and physical certificates were duly mutilated and cancelled. This is a recurring regulatory disclosure with no impact on the company's financial operations.
- Compliance certificate submitted under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
- Covers the operational period from July 1, 2026, to September 30, 2026
- Issued by RTA Accurate Securities & Registry Private Limited on October 1, 2026
- Confirms timely processing, mutilation of physical share certificates, and listing on exchanges
Mercury Ev-Tech Limited announced the resignation of Mr. Lalit Vitthal Waankhede from his position as Non-Executive Director. The Board of Directors accepted his resignation at its meeting held on October 05, 2026, with the cessation effective immediately. As disclosed, the outgoing director holds nil shares in the company, and no operational disruptions were reported.
- Resignation of Non-Executive Director Mr. Lalit Vitthal Waankhede accepted on October 05, 2026
- Cessation is effective immediately from October 05, 2026
- Shareholding of the outgoing director in the company is NIL
Mercury Ev-Tech Limited announced the resignation of Mr. Lalit Vitthal Waankhede from his position as Non-Executive Director. The Board of Directors accepted his resignation at its meeting held on October 05, 2026, with the cessation effective immediately. As disclosed, the outgoing director holds nil shares in the company, and no operational disruptions were reported.
- Resignation of Non-Executive Director Mr. Lalit Vitthal Waankhede accepted on October 05, 2026
- Cessation is effective immediately from October 05, 2026
- Shareholding of the outgoing director in the company is NIL
Mercury Ev-Tech Limited has appointed Mr. Shreyan Jigneshkumar Patel as an Additional Director (Non-Executive, Non-Independent) effective October 05, 2026. Mr. Patel has 3+ years of experience in fields including EV charger development, manufacturing, and AI/ML, and holds Nil shares in the company. The appointment is subject to shareholder approval and is liable to retire by rotation.
- Appointed Mr. Shreyan Jigneshkumar Patel as Additional Director effective October 05, 2026
- Appointee holds Nil shareholding in the company
- Profile cites 3+ years of experience in EV charger development, manufacturing, and AI/ML
- Appointment is subject to approval by the company's shareholders
Mercury EV-Tech Limited announced changes to its Board of Directors following its board meeting on October 05, 2026. The board approved the appointment of Mr. Shreyan Jigneshkumar Patel as an Additional Director (Non-Executive Non-Independent), subject to shareholder approval. Concurrently, Mr. Lalit Vitthal Waankhede resigned from his position as Non-Executive Director effective October 05, 2026. Neither incoming nor outgoing directors hold any equity shares in the company.
- Appointment of Mr. Shreyan Jigneshkumar Patel (DIN: 10493276) as Additional Director effective October 05, 2026
- Resignation of Mr. Lalit Vitthal Waankhede (DIN: 00556938) as Non-Executive Director effective October 05, 2026
- Shareholding of incoming director Mr. Shreyan Patel is Nil
- Shareholding of outgoing director Mr. Lalit Waankhede is Nil
- Board meeting commenced at 4.00 p.m. and concluded at 05.00 p.m. on October 05, 2026
Mercury Ev-Tech Limited announced the voting results and Scrutinizer's report for its 40th Annual General Meeting held on September 30, 2026. All ordinary resolutions were passed with requisite majority, with ~99.98% votes cast in favor across items. Key resolutions approved include the adoption of FY financial statements, auditor appointments, and material related party transactions with entities such as Sunbuy Renewables, DC2 Mercury Cars, Powermetz Energy, Traclaxx Tractors, and Evexia Lifecare. Overall voter turnout was low, with only 7,31,540 shares voted out of 18,99,73,058 total outstanding shares (0.3851%).
- All resolutions passed with 99.95% to 99.98% of polled votes in favor
- Only 7,31,540 votes polled out of 18,99,73,058 total shares, representing a 0.3851% voter turnout
- Promoter group holding 11,24,22,758 shares did not cast votes in the reported resolutions
- Approved material related party transactions with entities including Powermetz Energy and Evexia Lifecare
- Approved appointment of M/s Tejas K. Soni as Statutory Auditor and M/s Nisarg Sharma & Associates as Secretarial Auditor
Mercury EV-Tech Limited announced that shareholders approved the appointment of M/S Tejas K. Soni, Chartered Accountants, as the Statutory Auditor at the 40th AGM held on September 30, 2026. The appointment spans a 3-year term covering fiscal years 2026-27 to 2028-29. The auditor is a Vadodara-based firm holding ICAI peer review certificate No. 018005. This change comes following regular AGM approvals and maintains standard corporate audit compliance.
- Shareholders approved statutory auditor appointment at the 40th AGM on September 30, 2026
- Appointed M/S Tejas K. Soni, Chartered Accountants (FRN 135093W) for a 3-year term
- Tenure covers fiscal years 2026-27 to 2028-29
- Auditor holds ICAI Peer Review Board certificate No. 018005 dated August 30, 2024
Mercury EV-Tech Limited held its 40th Annual General Meeting on September 30, 2026, attended by 56 members via video conferencing. Key resolutions placed for shareholder approval include the adoption of FY2025-26 financial statements and the approval of five material related-party transactions with Sunbuy Renewables, DC2 Mercury Cars, Powermetz Energy, Traclaxx Tractors, and Go Evexia. Auditor Tejas K. Soni reported no qualifications or adverse remarks on the FY26 financials. Consolidated voting results will be declared within two working days.
- 40th AGM held on September 30, 2026, from 12:30 p.m. to 01:10 p.m. with 56 members present
- Shareholder voting sought on 5 distinct material related party transactions (Items 5 through 9)
- Auditor's report for FY ended March 31, 2026 contained no qualifications, adverse remarks, or disclaimers
- Consolidated e-voting results to be declared within 2 working days
Mercury EV-Tech has expanded its pan-India presence by appointing 100 new dealers over the last four months, with plans to add 200 more by March 2027. Additionally, the company secured clearance under the Gujarat Energy Development Agency (GEDA) subsidy scheme for its electric two-wheelers (2W) and three-wheelers (3W). Under the scheme, retail buyers will be eligible for subsidies of ₹12,000 per 2W and ₹48,000 per 3W. These updates aim to support retail sales growth following the company's Q1 revenue of ₹33.38 crore.
- Appointed 100 new dealers across India during the last four months
- Targeting appointment of an additional 200 dealers by March 2027
- GEDA subsidy approval grants ₹12,000 per electric 2-wheeler
- GEDA subsidy approval grants ₹48,000 per electric 3-wheeler in Gujarat
Promoter group entity Shree Saibaba Exim Private Limited sold 20,00,000 equity shares of Mercury Ev-Tech Limited on September 10, 2026, through open market transactions. This disposal represents 1.0527% of the company's total voting capital of 18,99,73,058 shares. Following the transaction, the promoter entity's stake decreased from 19.869% (3,77,47,485 shares) to 18.817% (3,57,47,485 shares). Disclosures were made under SEBI PIT Regulation 7(2)(a) and SAST Regulation 29(2).
- Promoter entity Shree Saibaba Exim Private Limited offloaded 20,00,000 shares (1.0527% of equity)
- Transaction executed on September 10, 2026, via open market
- Promoter entity holding reduced from 3,77,47,485 shares (19.869%) to 3,57,47,485 shares (18.817%)
- Total paid-up and diluted equity capital stands at 18,99,73,058 shares
Mercury EV-Tech Limited has issued notice for its 40th Annual General Meeting scheduled for September 30, 2026. The agenda includes the adoption of FY26 audited financial statements and the appointment of M/S Tejas K. Soni as statutory auditors for a 3-year term (FY 2026-27 to FY 2028-29). The accompanying annual report disclosures show cash and cash equivalents stood at ₹605.05 Lakhs at year-end, while contractual borrowings due within 1 year were ₹2,101.44 Lakhs.
- 40th AGM scheduled for September 30, 2026, via Video Conferencing
- Appointment of statutory auditor M/S Tejas K. Soni proposed for a 3-year term (FY27 to FY29)
- Cash and cash equivalents reported at ₹605.05 Lakhs at year-end vs ₹91.56 Lakhs in the prior period
- Short-term borrowings due within 1 year stood at ₹2,101.44 Lakhs against trade payables of ₹2,137.06 Lakhs
Promoter group entity Shree Saibaba Exim Private Limited sold 52,45,000 equity shares (representing 2.760% of total voting capital) of Mercury EV-Tech Limited via the open market. The sales were executed across two trading days on September 07, 2026, and September 08, 2026. Following this disposal, Shree Saibaba Exim's shareholding decreased from 22.630% (4,29,92,485 shares) to 19.869% (3,77,47,485 shares). Total equity share capital of the company remains unchanged at 18,99,73,058 shares of face value Re 1 each.
- 52,45,000 equity shares sold by promoter entity Shree Saibaba Exim Private Limited
- Stake reduction of 2.760% of the total voting share capital
- Promoter entity holding decreased from 22.630% (4,29,92,485 shares) to 19.869% (3,77,47,485 shares)
- Transactions executed via open market on September 07, 2026, and September 08, 2026
- Total share capital stands at 18,99,73,058 shares of face value Re. 1/- each
Mercury Ev-Tech Limited has announced the revised record dates and cut-off dates for its 40th Annual General Meeting (AGM). The AGM is scheduled to take place virtually via Video Conferencing on September 30, 2026, at 12:30 PM. The record date for determining shareholders entitled to receive the AGM notice was set to September 4, 2026, while the cut-off date for e-voting eligibility is September 25, 2026.
- 40th AGM scheduled for September 30, 2026 at 12:30 PM via VC/OAVM
- Record date for e-voting eligibility set to September 25, 2026
- Record date for receiving AGM notice fixed as September 4, 2026
Mercury Ev-Tech Limited has rescheduled its 40th Annual General Meeting (AGM) to Wednesday, September 30, 2026, at 12:30 p.m. via video conferencing. The company revised its book closure period to run from September 24, 2026, to September 30, 2026. The record date for e-voting eligibility has been set for September 25, 2026, while the notice cut-off date was September 04, 2026.
- 40th AGM rescheduled to Wednesday, September 30, 2026 at 12:30 p.m. via VC/OAVM
- Book closure revised to Thursday, September 24, 2026 through Wednesday, September 30, 2026
- Record date for e-voting determined as September 25, 2026
- Record date for dispatch of AGM notice established as September 04, 2026
Mercury Ev-Tech Limited has announced cut-off dates relating to its upcoming 40th Annual General Meeting (AGM) scheduled for September 28, 2026, at 02:00 PM via video conferencing. The company fixed September 4, 2026, as the record date for determining eligibility to receive the AGM notice. Additionally, September 18, 2026, has been designated as the cut-off record date for shareholder e-voting eligibility. This is a standard annual compliance disclosure.
- 40th AGM scheduled for September 28, 2026, at 02:00 P.M. via VC/OAVM
- Record date of September 4, 2026, fixed for receiving the AGM Notice
- Cut-off date of September 18, 2026, established for e-voting eligibility
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