Mercury EV-Tech Jumps on Merger Milestone, New Product Launch and Expanding EV Footprint

Mumbai (Maharashtra) [India], November 17: Mercury EV-Tech Ltd, a long-standing player in India’s EV and renewable energy landscape since 1986, reported a notable uptick in trading activity as its shares rose 0.72 percent to Rs 42.25 on Monday amid heavy volume. The stock, which has a 52-week range of Rs 39.20 to Rs 105.10, sits about 8 percent above its 52-week low, and commands a market capitalization of over Rs 780 crore. Investors have rewarded the company with multibagger performance, delivering around 600 percent returns over three years and an impressive 6,900 percent over five years, underscoring the market’s anticipation of its strategic initiatives.

In its quarterly results, Mercury EV-Tech posted a 51 percent rise in net sales to Rs 34.01 crore and a 35 percent increase in net profit to Rs 1.72 crore for Q2FY26 versus Q1FY26, highlighting a robust trajectory in top-line growth and profitability. On a half-year basis, the company's net sales surged 142 percent to Rs 56.58 crore, while net profit climbed 43 percent to Rs 2.99 crore in H1FY26 compared with H1FY26, reflecting the accelerating momentum behind its expansion plans.

The company has outlined a clear path to accelerated growth through a strategic merger and the introduction of a first-of-its-kind product lineup. It secured NCLT approval for its merger with EV Nest and gained ICAT regulatory clearance to manufacture the MUSHAK EV, a specialised Make in India four-wheel goods carrier. This merger aims to create a vertically integrated business model, enhancing efficiencies across manufacturing and distribution channels while expanding market reach.

To further bolster its manufacturing capabilities, Mercury EV-Tech is investing in a large lithium-ion battery facility in Vadodara, signaling a significant step toward vertical integration in its supply chain. In parallel, the company has expanded its retail presence with the opening of three new EV showrooms in Gujarat, located in Bhavnagar, Halol, and Rajkot, broadening direct access to customers and fleet operators.

Mercury EV-Tech Ltd specializes in the manufacturing and trading of Electric Vehicles (EVs) and related renewable energy products. Its diverse product portfolio includes electric scooters, cars, buses, and specialised Electric Vintage and Golf cars, along with the development of custom EV solutions for hospitality and industrial applications. The company's ongoing initiatives—merger, new product development, and strategic capacity expansion—position it to capture broader share in a rapidly evolving EV ecosystem as it pursues a vertically integrated, Make in India growth model.

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