Is Mercury EV-Tech overvalued or undervalued?

As of July 26, 2023, Mercury EV-Tech is considered very expensive and overvalued with a PE ratio of 143.08, significantly higher than its peers, and has underperformed the Sensex with a year-to-date decline of 32.15%.

As of 26 July 2023, the valuation grade for Mercury EV-Tech has moved from does not qualify to very expensive, indicating a significant shift in its market perception. The company is currently considered overvalued, with a PE ratio of 143.08, an EV to EBITDA of 133.54, and an EV to Sales ratio of 12.08. These ratios suggest that the stock is trading at a premium compared to its earnings and sales, raising concerns about its valuation.<BR><BR>In comparison to peers, Mercury EV-Tech's PE ratio is notably higher than MMTC Ltd., which has a PE of 119.39, and Optiemus Infracom Ltd., which is valued at 82.35. Other peers like Elitecon International and Shree Global Tradefin Ltd. also exhibit high valuations, but none approach the extreme levels of Mercury EV-Tech. The company's recent stock performance has underperformed the Sensex, particularly year-to-date, where it has declined by 32.15% compared to the Sensex's gain of 5.56%. This further reinforces the notion that Mercury EV-Tech is currently overvalued in the market.

What does Mercury EV-Tech do?

Mercury EV-Tech Ltd manufactures electric vehicles, including scooters, cars, and buses, and is classified as a small-cap company with a market cap of Rs 1,131 Cr. As of March 2025, it reported net sales of 31 Cr and a net profit of 2 Cr.

Overview:<BR>Mercury EV-Tech Ltd is a pioneer in the manufacturing of electric vehicles, including electric scooters, cars, buses, vintage cars, and golf cars, operating within the automobiles industry and classified as a small-cap company.<BR><BR>History:<BR>The company was incorporated on July 4, 1986, and became a deemed public limited company on February 9, 1994. The latest quarterly results reported net sales and net profit for the period ending March 2025.<BR><BR>Financial Snapshot:<BR>- Net Sales: 31 Cr (Quarterly Results - Mar 2025)<BR>- Net Profit: 2 Cr (Quarterly Results - Mar 2025)<BR>- Market Cap: Rs 1,131 Cr (Small Cap)<BR><BR>Key Metrics:<BR>- P/E: 141.00<BR>- Industry P/E: 30<BR>- Dividend Yield: 0.00%<BR>- Debt Equity: -0.18<BR>- Return on Equity: 2.86%<BR>- Price to Book: 4.03<BR><BR>Contact Details:<BR>Address: 36 Advani Market, O/s Delhi Gate Shahibaug Ahmedabad Gujarat : 380004<BR>Tel: 91-79-65425275<BR>Email: mcsstaahmd@gmail.com<BR>Website: http://www.mercurymetals.in

Who are in the management team of Mercury EV-Tech?

As of March 2022, the management team of Mercury EV-Tech includes Kavit Jayeshbhai Thakkar (CEO), Jayesh Vimal Chellani (Independent Director), Mikil Gohil (Company Secretary), and additional directors Darshan Shah, Harit Gopalbhai Shah, and Dineshkumar Sinha. They oversee the company's operations and strategic direction.

As of March 2022, the management team of Mercury EV-Tech includes the following individuals:<BR><BR>1. Jayesh Vimal Chellani - Independent Director<BR>2. Kavit Jayeshbhai Thakkar - Director & Chief Executive Officer<BR>3. Mikil Gohil - Company Secretary<BR>4. Darshan Shah - Additional Director<BR>5. Harit Gopalbhai Shah - Additional Director<BR>6. Dineshkumar Sinha - Additional Director<BR><BR>This team is responsible for overseeing the company's operations and strategic direction.

Has Mercury EV-Tech declared dividend?

No Dividend History Available

Who are the peers of the Mercury EV-Tech?

Mercury EV-Tech's peers include TIL, Sanghvi Movers, Landmark Cars, Atul Auto, and others. In terms of management risk, growth, and capital structure, they vary from excellent to below average, with TIL showing the highest 1-year return at 39.77% and Sanghvi Movers the lowest at -50.04%.

Peers: The peers of Mercury EV-Tech are TIL, Sanghvi Movers, Landmark Cars, Atul Auto, Eraaya Lifespace, Popular Vehicles, Indo Farm Equip., Hindustan Motors, Brady & Morris, and Wardwizard Inno.<BR><BR>Quality Snapshot: Excellent management risk is observed at Sanghvi Movers and Brady & Morris, while Average management risk is found at TIL, Landmark Cars, Eraaya Lifespace, Popular Vehicles, and Hindustan Motors, and the rest. Below Average management risk is noted at Atul Auto, Indo Farm Equip., and Wardwizard Inno. For Growth, Excellent growth is seen at Mercury EV-Tech and Sanghvi Movers, while Good growth is found at Popular Vehicles and the rest. Below Average growth is noted at TIL, Landmark Cars, Atul Auto, Eraaya Lifespace, Indo Farm Equip., Hindustan Motors, and Wardwizard Inno. In terms of Capital Structure, Good capital structure is observed at Indo Farm Equip., while Below Average capital structure is seen at TIL, Landmark Cars, Atul Auto, Mercury EV-Tech, Popular Vehicles, Hindustan Motors, and the rest.<BR><BR>Return Snapshot: The peer with the highest 1-year return is TIL at 39.77%, while the lowest is Sanghvi Movers at -50.04%. Mercury EV-Tech's 1-year return is -28.21%, which is better than Sanghvi Movers but worse than TIL. Additionally, several peers, including Eraaya Lifespace, Popular Vehicles, and Sanghvi Movers, have negative six-month returns.

Who are the top shareholders of the Mercury EV-Tech?

The top shareholders of Mercury EV-Tech include Shree Saibaba Exim Private Limited with 22.63%, individual investors with 29.02%, and 8 Foreign Institutional Investors holding 1.92%. The highest public shareholder is Sumit P Desai (huf) at 1.79%, with no pledged promoter holdings or mutual fund involvement.

The top shareholders of Mercury EV-Tech include Shree Saibaba Exim Private Limited, which holds the highest promoter stake at 22.63%. The company has a diverse ownership structure, with individual investors collectively holding 29.02%. Additionally, there are 8 Foreign Institutional Investors (FIIs) that hold a combined 1.92%. The highest public shareholder is Sumit P Desai (huf) with a holding of 1.79%. There are no pledged promoter holdings, and no mutual funds are currently involved with the company.

How big is Mercury EV-Tech?

As of 24th July, Mercury EV-Tech Ltd has a market capitalization of 961.00 Cr and reported net sales of 89.63 Cr and net profit of 7.92 Cr over the latest four quarters.

As of 24th July, <BR><BR>Market Cap: Mercury EV-Tech Ltd has a market capitalization of 961.00 Cr, categorized as a Micro Cap.<BR><BR>Recent Quarterly Performance: The sum of Net Sales for the latest 4 quarters is 89.63 Cr, while the sum of Net Profit for the same period is 7.92 Cr.<BR><BR>Balance Sheet Snapshot: The reporting period is March 2024, with Shareholder's Funds amounting to 80.69 Cr and Total Assets totaling 150.60 Cr.

When is the next results date for Mercury EV-Tech?

The next results date for Mercury EV-Tech is 14 August 2025.

The next results date for Mercury EV-Tech is scheduled for 14 August 2025.

Is Mercury EV-Tech technically bullish or bearish?

As of November 13, 2025, Mercury EV-Tech's technical trend has shifted to bearish, supported by negative signals from the MACD, Bollinger Bands, and moving averages, despite a mildly bullish KST signal on the weekly chart.

As of 13 November 2025, the technical trend for Mercury EV-Tech has changed from mildly bearish to bearish. The current stance is bearish, with a strong indication from the weekly and monthly MACD both showing bearish signals. The Bollinger Bands also confirm a bearish outlook on both time frames. Daily moving averages further support this bearish sentiment. Although the KST indicates a mildly bullish signal on the weekly chart, it is overshadowed by the overall bearish indicators. The lack of trend in Dow Theory on both weekly and monthly charts reinforces the bearish position. Overall, the technical stance is bearish with significant weakness indicated across multiple indicators.

Are Mercury EV-Tech latest results good or bad?

Mercury EV-Tech's latest results show strong year-on-year growth, with net sales up 464.09% and profit after tax rising 390.28%. However, quarter-on-quarter sales decreased by 26.43%, leading to a cautious outlook despite long-term potential, prompting MarketsMOJO to issue a 'Sell' call on the stock.

Mercury EV-Tech's latest results for the quarter ending June 2025 indicate a mixed performance. On one hand, the company has shown impressive year-on-year growth, with net sales increasing by 464.09% to Rs 53.25 crore and profit after tax (PAT) rising by 390.28% to Rs 3.53 crore. These figures suggest strong operational success and a positive trend in sales.<BR><BR>However, when looking at the quarter-on-quarter performance, there are some concerns. The net sales decreased by 26.43% compared to the previous quarter, although the consolidated net profit did see an increase of 27.74%. This indicates that while the company has made significant strides year-on-year, it faced challenges in maintaining sales momentum from the previous quarter.<BR><BR>Despite the strong annual growth figures, MarketsMOJO has issued a 'Sell' call on the stock, which may reflect concerns about the recent quarterly performance and market conditions. Overall, while the long-term growth looks promising, the short-term results present a more cautious outlook.

How has been the historical performance of Mercury EV-Tech?

Mercury EV-Tech has shown significant growth in net sales and profitability, with net sales increasing from 1.18 Cr in March 2022 to 89.64 Cr in March 2025, and profit after tax rising from 0.23 Cr to 7.70 Cr during the same period, despite increasing liabilities. The company's financial performance reflects a strong upward trajectory in sales and profitability, supported by external financing.

Answer:<BR>The historical performance of Mercury EV-Tech shows significant growth in net sales and profitability over the past few years.<BR><BR>Breakdown:<BR>Mercury EV-Tech has demonstrated remarkable growth in net sales, increasing from 1.18 Cr in March 2022 to 89.64 Cr in March 2025. This upward trend is reflected in total operating income, which rose from 1.18 Cr in March 2022 to 89.64 Cr in March 2025. The company's total expenditure also increased, but at a slower rate, leading to an operating profit (PBDIT) of 11.56 Cr in March 2025, up from just 0.31 Cr in March 2022. Profit before tax followed a similar trajectory, reaching 9.94 Cr in March 2025 compared to 0.32 Cr in March 2022, while profit after tax also saw a substantial increase to 7.70 Cr in March 2025 from 0.23 Cr in March 2022. The company's earnings per share improved significantly, with an EPS of 0.39 in March 2025, compared to 0.12 in March 2022. On the balance sheet, total liabilities grew from 1.48 Cr in March 2022 to 150.60 Cr in March 2024, indicating increased borrowing to support growth. Despite this, shareholder's funds rose significantly, reflecting a strong equity position. Cash flow from operating activities remained negative, but cash flow from financing activities provided a net inflow, indicating reliance on external financing for growth. Overall, Mercury EV-Tech's financial performance illustrates a strong upward trajectory in sales and profitability, albeit with increasing liabilities.

Should I buy, sell or hold Mercury EV-Tech?

Which are the latest news on Mercury EV-Tech?

Why is Mercury EV-Tech falling/rising?

As of 03-Dec, Mercury EV-Tech Ltd's stock is declining, currently priced at Rs 38.72, down 2.0% and showing a total decline of 6.16% over four days. The stock is trading below its moving averages, close to its 52-week low, and has seen reduced investor interest, indicating a lack of confidence despite the company's long-term growth potential.

As of 03-Dec, Mercury EV-Tech Ltd's stock price is falling, currently at Rs 38.72, reflecting a decrease of Rs 0.79 or 2.0%. The stock has been on a downward trend, having lost value for four consecutive days, resulting in a total decline of 6.16% during this period. Additionally, the stock is trading significantly below its moving averages across various time frames, indicating persistent weakness in its price performance.<BR><BR>The stock's performance over the past week shows a decline of 5.45%, while it has underperformed the sector by 1.21% today. It is also close to its 52-week low, just 4.7% above Rs 36.9. Furthermore, investor participation has decreased, with delivery volume dropping by 50.53% compared to the five-day average, suggesting reduced interest from investors.<BR><BR>Despite the company reporting healthy long-term growth in net sales and operating profit, the stock's valuation appears expensive with a return on equity (ROE) of only 3.1% and a price-to-book value of 2.6. This high valuation, combined with the stock's significant underperformance over the past year—where it has declined by 60.66% compared to a market return of 2.66%—indicates a lack of confidence among investors. The absence of domestic mutual fund investment, which typically reflects a lack of comfort with the stock's price or business fundamentals, further contributes to the negative sentiment surrounding Mercury EV-Tech Ltd.