Shares of Mercury EV Tech Limited witnessed a notable upswing during Wednesday's trading session, climbing nearly 1.14% to reach ₹38.96 per share. This positive movement aligned with a broader recovery in the Indian stock markets, providing relief to investors who have watched the electric vehicle stock face significant pressure in recent months.
Recent Performance and Long-Term Returns
The multibagger EV stock has experienced considerable volatility in the short term. Over the past six months, the stock declined over 40%, while the one-year performance shows a drop of more than 62%. However, these recent corrections pale in comparison to the extraordinary wealth generation the stock has delivered to long-term investors.
Despite recent challenges, Mercury EV Tech has provided staggering returns of 5,884.62% over the past five years, effectively multiplying investor wealth more than fifty-eight times during this period. This remarkable performance highlights the stock's potential despite short-term market fluctuations.
Catalyst for the Rally
The immediate trigger for Wednesday's price surge came from the company's strategic expansion announcement. Mercury EV Tech revealed the inauguration of a new showroom in Porbandar, Gujarat, marking another step in the company's aggressive growth strategy.
In an exchange filing dated November 18, the company stated: "We wish to inform you that Mercury Ev-Tech Limited has inaugurated 1 new showroom in the state of Gujarat. The inauguration of these showrooms is in line with the Company's business expansion strategy and is expected to strengthen our market presence and outreach."
Strong Financial Performance
The company's latest quarterly results demonstrate robust business momentum during the current fiscal year. Net sales surged 51% to ₹34.01 crore in the second quarter of FY26 compared to the previous quarter, while net profit increased 35% to ₹1.72 crore during the same period.
For the first half of FY26, the financial picture appears even more impressive. Net sales jumped 142% to ₹56.58 crore, while net profit grew 43% to ₹2.99 crore, indicating both substantial revenue expansion and improving profitability margins.
Year-over-year comparisons further underscore the company's growth trajectory. Net profit for the September quarter FY26 increased 15.7% to ₹1.84 crore from ₹1.59 crore in the same period last year. Meanwhile, revenue from operations skyrocketed over 75% to ₹34 crore in Q2 FY26, demonstrating strong demand for the company's products and services.
Company Background and Product Portfolio
Established in 1986, Mercury Ev-Tech Ltd has positioned itself as a significant player in India's evolving electric mobility and renewable energy sectors. The company engages in both manufacturing and trading of electric vehicles and renewable energy-related products.
Their diverse product range includes:
- Electric scooters for personal mobility
- Electric cars for various consumer segments
- Electric buses for public transportation
- Specialized offerings including Electric Vintage cars
- Golf carts for recreational and commercial use
Beyond standard products, the company also develops customized EV solutions tailored for specific applications in hospitality and industrial environments, showcasing their technical expertise and adaptability to market needs.
The combination of strategic expansion, strong financial performance, and a diversified product portfolio positions Mercury EV Tech as a company worth monitoring in the rapidly evolving Indian electric vehicle landscape, though investors should always conduct their own due diligence before making investment decisions.
