Mercury Ev-Tech Limited Strengthens Board, Expands Operations, and Reports Robust Financial Growth

Mumbai (Maharashtra) [India], November 22: Mercury Ev-Tech Limited, a prominent player in the electric vehicle and renewable energy sector, today announced a series of significant developments poised to further its growth trajectory. The company has welcomed Mrs. Riya Vinodbhai Sharma to its Board of Directors as a Non-Executive Independent Director, a move that aligns with the company’s commitment to robust corporate governance and strategic oversight. Mrs. Sharma’s appointment, effective October 1, 2025, for a term of five years, has received thorough review and recommendation from the Nomination and Remuneration Committee, and is in full compliance with the Companies Act, 2013.

In a move to facilitate strategic expansion and support its associated entities, the Board will seek shareholder approval to grant loans, guarantees, or provide security up to Rs. 200 Crores per entity. This initiative, undertaken as per Section 185 of the Companies Act, 2013, is designed to empower various entities where company directors have an interest, ensuring that these funds are precisely channeled towards their core business activities, thereby fostering sustainable growth and operational efficiency.

Furthermore, in adherence to the amended SEBI Listing Regulations, M/s. SJV & ASSOCIATES, Practising Company Secretaries, are proposed for appointment as Secretarial Auditors for a period of five years, commencing from the Financial Year 2025-26 through to 2029-30. The proposed auditors have formally confirmed their eligibility and the absence of any conflicts of interest, underscoring the company’s dedication to maintaining the highest standards of compliance and transparency.

These strategic governance enhancements coincide with Mercury Ev-Tech Limited’s ongoing commitment to expanding its market presence. The company recently inaugurated a new showroom in Gujarat, a key step in its strategic business expansion. Located at Mahadev E-vehicle, Opp. Ashtha Bakery, Vadi plot, Porbandar, this new facility is anticipated to significantly bolster the company’s market reach and customer engagement within the region.

The company’s operational expansion is complemented by a strong financial performance. Mercury Ev-Tech Limited reported impressive quarterly results for Q2FY26, with net sales surging by 51 per cent to Rs 34.01 crore and net profit increasing by 35 per cent to Rs 1.72 crore when compared to Q1FY26. The half-yearly results for H1FY26 further underscore this robust growth, showcasing a remarkable 142 per cent increase in net sales to Rs 56.58 crore and a 43 per cent rise in net profit to Rs 2.99 crore, relative to H1FY25.

Established in 1986, Mercury Ev-Tech Limited has built a diverse service profile centered on the manufacturing and trading of Electric Vehicles (EVs) and related renewable energy products. The company’s comprehensive offerings include electric scooters, cars, and buses, alongside specialized Electric Vintage and Golf cars. Mercury Ev-Tech also excels in developing custom EVs tailored for a wide array of applications across hospitality and industrial sectors, reaffirming its position as an innovator and leader in the burgeoning EV market.

Disclaimer: This article is for informational purposes only and does not constitute financial advice.

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