Promoters hold 59.17% stake: EV-stock under Rs 50; Mercury Ev-Tech Limited reports stellar Q2FY26 & H1FY26 results

On Monday, shares of Mercury EV-Tech Ltd surged 0.72 per cent to Rs 42.25 per share from its previous closing of Rs 41.95 per share with heavy volume. The stock’s 52-week high is Rs 105.10 per share and its 52-week low is Rs 39.20 per share. The stock is up by 8 per cent from its 52-week low of Rs 39.20 per share. The company has a market cap of over Rs 780 crore. The stock gave multibagger returns of 600 per cent in 3 years and a whopping 6,900 per cent in 5 years.

Mercury EV-Tech Ltd, incorporated in 1986, is primarily engaged in the manufacturing and trading of Electronic Vehicles (EVs) and related renewable energy products. The company's product profile is diverse, encompassing Electric scooters, cars, buses, and specialised Electric Vintage and Golf cars, and it also develops custom EVs for various applications, including hospitality and industry sectors.

The company is driving aggressive growth through a strategic merger and new product launch. The company secured NCLT approval for its merger with EV Nest and obtained ICAT regulatory clearance to manufacture the "MUSHAK EV," a specialised 'Make in India' four-wheel goods carrier. To achieve a vertically integrated business model and expand market reach, Mercury EV-Tech is building a large lithium-ion battery facility in Vadodara and has opened three new EV showrooms in Gujarat (Bhavnagar, Halol, and Rajkot).

According to Quarterly Results, the net sales increased by 51 per cent to Rs 34.01 crore and net profit increased by 35 per cent to Rs 1.72 crore in Q2FY26 compared to Q1FY26. Looking at half-yearly results, the net sales increased by 142 per cent to Rs 56.58 crore and net profit increased by 43 per cent to Rs 2.99 crore in H1FY26 compared to H1FY26.

Disclaimer: The article is for informational purposes only and not investment advice.