Mercury EV-Tech Limited has rescheduled its 40th Annual General Meeting (AGM) to September 30, 2026. The Board of Directors also revised the book closure and record dates during a meeting held on September 6, 2026.

The company previously announced the AGM would be held on September 28, 2026. Due to unavoidable circumstances, the Board decided to update the schedule via Video Conferencing or Other Audio Visual Means (OAVM).

Revised Schedule

The Board meeting commenced at 3:00 pm and concluded at 4:00 pm on Sunday, September 6, 2026. The revised timeline for shareholder participation is as follows:

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

Corporate Actions

In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, the Board approved the updated dates. The company had earlier appointed M/s. Nisarg Sharma & Associates as the Scrutinizer for remote e-voting and e-voting during the AGM.

The Board’s Report and financial statements for FY26 were previously approved during the August 31, 2026 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.