Mercury EV-Tech FY26 net profit falls 55.7% to ₹283.12 lakh
Mercury EV-Tech Limited reported a 55.7% decline in net profit to ₹283.12 lakh for FY26, with revenue falling 32.3% to ₹4,577.21 lakh. The board approved the audited results on May 30, 2026, with an unmodified opinion from statutory auditors.
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Mercury EV-Tech Limited reported a 55.7% decline in net profit to ₹283.12 lakh for the financial year ended March 31, 2026, down from ₹638.58 lakh in the previous year. Revenue from operations fell 32.3% to ₹4,577.21 lakh compared to ₹6,764.27 lakh in FY25. The decline in profitability was attributed to increased operational expenses and a reduction in other income, which dropped to ₹503.13 lakh from ₹142.41 lakh in the prior year.
The board of directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at a meeting held on May 30, 2026. The audit report, issued by statutory auditor M/s. Tejas K. Soni and Company, Chartered Accountants, carried an unmodified opinion. The company noted that figures for previous periods were regrouped or reclassified where necessary for comparability.
For the quarter ended March 31, 2026, the company reported a net profit of ₹55.94 lakh, a significant decrease from ₹111.69 lakh in the same quarter of the previous year. Revenue from operations for the quarter stood at ₹1,366.59 lakh, down from ₹2,016.00 lakh in Q4 FY25. Total expenses for the quarter increased marginally to ₹1,648.13 lakh from ₹1,993.13 lakh in the corresponding prior period.
Financial Performance
The company's earnings per share (EPS) for the full year decreased to ₹0.149 basic and ₹0.149 diluted from ₹0.336 and ₹0.352 respectively in the previous year. The paid-up equity share capital remained constant at ₹1,899.73 lakh. The finance costs for the year reduced to ₹32.43 lakh from ₹62.01 lakh, while depreciation and amortization expenses rose significantly to ₹284.82 lakh from ₹55.13 lakh.
| Particulars | Year Ended March 31, 2026 (₹ in Lakhs) | Year Ended March 31, 2025 (₹ in Lakhs) |
|---|---|---|
| Revenue from operations | 4,577.21 | 6,764.27 |
| Total Revenue | 5,080.34 | 6,906.68 |
| Total Expenses | 4,603.38 | 6,074.61 |
| Profit before tax | 426.96 | 832.06 |
| Net Profit | 283.12 | 638.58 |
Operational and Balance Sheet Highlights
On the balance sheet front, total assets as of March 31, 2026, stood at ₹32,188.21 lakh, an increase from ₹29,550.05 lakh in the previous year. Non-current assets saw a substantial rise to ₹10,527.80 lakh, driven by property, plant, and equipment valued at ₹5,570.99 lakh and capital work in progress of ₹2,448.65 lakh. Current assets decreased to ₹21,660.41 lakh from ₹22,856.36 lakh, primarily due to a reduction in bank balances other than cash and cash equivalents.
The company's equity and liabilities structure showed total equity at ₹28,278.22 lakh, slightly higher than ₹28,007.97 lakh in the prior year. Total liabilities increased to ₹3,910.10 lakh from ₹1,627.07 lakh, with current liabilities rising sharply to ₹3,606.66 lakh. Borrowings under current liabilities stood at ₹1,785.23 lakh, compared to nil in the previous year.
Historical Stock Returns for Mercury EV-Tech
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.98% | -11.35% | -14.84% | -14.84% | -14.84% | -14.84% |
What strategic initiatives will the company implement to reverse the 32.3% decline in revenue?
How will the sharp increase in current liabilities and new short-term borrowings impact the company's liquidity position in the coming year?
What is driving the substantial rise in capital work in progress, and when will these assets become operational?
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