Mercury EV-Tech Limited has announced the record dates for its 40th Annual General Meeting (AGM). The company will hold the meeting on September 28, 2026, via Video Conferencing or Other Audio Visual Means (OVAM).

The Board of Directors approved the Board’s Report and financial statements for FY26 during its meeting on August 31, 2026. The session also fixed the schedule for shareholder voting and appointed M/s. Nisarg Sharma & Associates as the Scrutinizer.

Record Dates and Voting

The company has specified two distinct record dates for shareholders. The first date determines eligibility to receive the AGM notice, while the second determines eligibility for e-voting.

Shareholders must hold their equity shares on these respective dates to participate in the process.

Corporate Actions

The Board’s meeting took place from 4:00 pm to 5:00 pm on Monday, August 31, 2026. Directors approved several items in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015.

Key decisions included:

• Approval of the Board’s Report along with annexures for FY26.
• Fixing the date, time, and place for the 40th AGM.
• Appointment of M/s. Nisarg Sharma & Associates, Practising Company Secretaries, as the Scrutinizer for both remote e-voting and e-voting during the AGM.

Shareholder Eligibility

The book closure period for voting eligibility runs from Saturday, September 19, 2026, to Saturday, September 26, 2026, inclusive of both days. Shareholders must hold their shares within this window to vote at the meeting.

Mercury EV-Tech reported a sharp acceleration in revenue for the first quarter, logging ₹334 million against ₹226 million in the same period last year. This represents a year-on-year growth of approximately 48%, highlighting strong demand or pricing momentum in its core operations. However, the profitability metrics did not mirror this top-line expansion. The company’s consolidated net profit stood at ₹16 million, identical to the ₹16 million reported in the corresponding quarter of the previous fiscal year.

Financial Performance

The quarter’s results reveal a distinct split between revenue generation and profit retention. While the company successfully expanded its sales base by nearly half, the absolute profit figure remained static. This suggests that operating expenses, cost of goods sold, or other income items may have absorbed the incremental revenue during the period.

What the Numbers Show

The most notable pattern in the filing is the complete decoupling of revenue growth from net profit. A 48% rise in revenue typically drives proportional gains in earnings unless margin compression occurs. With net profit remaining flat at ₹16 million despite the substantial top-line jump, it indicates that the additional ₹108 million in revenue did not contribute to the bottom line. This could imply higher operational costs or lower margins on new business, though specific expense breakdowns were not disclosed in the brief data provided.