Mercury EV-Tech
BSE: MERCURYEV · Passenger Cars & Utility Vehicles
Snapshot
Unlock Mercury EV-Tech's vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
Mercury EV-Tech Limited is an Indian manufacturer focused on the electric vehicle sector, specifically producing electric scooters, rickshaws, and cycles. The company also invests in the research and development of lithium-ion battery packs and powertrain solutions to support sustainable urban mobility.
Business Model
The company generates revenue through the assembly and distribution of electric vehicles and the sale of associated clean energy components. It leverages a network of subsidiaries and strategic investments to scale production and expand its market presence in the domestic EV ecosystem.
Management Commentary
Management focuses on positioning the company as an emerging player in the Indian electric vehicle market by scaling production capabilities and distribution networks.
Growth Outlook
Growth is driven by the increasing demand for sustainable urban mobility solutions in India and the expansion of R&D capabilities in battery technology. The company aims to capture market share by scaling its manufacturing output and enhancing its distribution footprint.
Key Risks
- Regulatory Uncertainty. Changes in government subsidies or policies regarding electric vehicle adoption could significantly impact the company's financial performance.
- Supply Chain Volatility. Dependence on external suppliers for critical components like lithium-ion cells poses a risk to production stability and cost management.
- Intense Competition. The Indian EV market is highly competitive, with both established automotive giants and numerous startups vying for market share.
- Technological Obsolescence. Rapid advancements in battery and powertrain technology may render existing product lines less competitive if the company fails to innovate continuously.
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Key Metrics
P/E
194.8x
Q4 FY26 · consolidated
EV/EBITDA
68.8x
Q4 FY26 · consolidated
NET PROFIT MARGIN
0.8%
Q4 FY26 · consolidated
DEBT TO EQUITY
0.1x
Q4 FY26 · consolidated
Peers · Passenger Cars & Utility Vehicles
| Company | Mkt Cap | P/E | EV/EBITDA | Rev Gr YoY | EBITDA Mgn | ROE | ROCE | 1Y Return |
|---|---|---|---|---|---|---|---|---|
Mercury EV-TechMERCURYEV | ₹735 Cr | 193.35 | 68.29 | — | 10.8% | 1.6% | 2.4% | -25.6% |
Mahindra & Mahindra Ltd.M&M | ₹4.15L Cr | 20.17 | 12.60 | 26.2% | 20.3% | 23.8% | 18.0% | +4.2% |
Hyundai Motor India Ltd.HYUNDAI | ₹1.84L Cr | 37.21 | 19.76 | 3.6% | 12.6% | 27.3% | 32.4% | -7.9% |
Tata Motors Passenger Vehicles Ltd.TMPV | ₹1.18L Cr | -34.87 | 7.29 | -21.7% | 6.6% | 69.7% | -0.6% | — |
Force Motors Ltd.FORCEMOT | ₹22,638 Cr | 18.28 | 13.61 | 8.4% | 17.4% | 34.6% | 38.5% | -10.8% |
Olectra Greentech Ltd.OLECTRA | ₹10,771 Cr | 60.73 | 30.83 | 38.4% | 14.2% | 15.8% | 23.4% | -14.9% |
As of Q4 FY26
Financials
Mercury EV-Tech
BSE: MERCURYEV · Passenger Cars & Utility Vehicles
Snapshot
Unlock Mercury EV-Tech's vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
Mercury EV-Tech Limited is an Indian manufacturer focused on the electric vehicle sector, specifically producing electric scooters, rickshaws, and cycles. The company also invests in the research and development of lithium-ion battery packs and powertrain solutions to support sustainable urban mobility.
Business Model
The company generates revenue through the assembly and distribution of electric vehicles and the sale of associated clean energy components. It leverages a network of subsidiaries and strategic investments to scale production and expand its market presence in the domestic EV ecosystem.
Management Commentary
Management focuses on positioning the company as an emerging player in the Indian electric vehicle market by scaling production capabilities and distribution networks.
Growth Outlook
Growth is driven by the increasing demand for sustainable urban mobility solutions in India and the expansion of R&D capabilities in battery technology. The company aims to capture market share by scaling its manufacturing output and enhancing its distribution footprint.
Key Risks
- Regulatory Uncertainty. Changes in government subsidies or policies regarding electric vehicle adoption could significantly impact the company's financial performance.
- Supply Chain Volatility. Dependence on external suppliers for critical components like lithium-ion cells poses a risk to production stability and cost management.
- Intense Competition. The Indian EV market is highly competitive, with both established automotive giants and numerous startups vying for market share.
- Technological Obsolescence. Rapid advancements in battery and powertrain technology may render existing product lines less competitive if the company fails to innovate continuously.
Start your research today
Unlock AI insights, financials, peers and live data on Mercury EV-Tech and 5,000+ companies — free.
Key Metrics
P/E
194.8x
Q4 FY26 · consolidated
EV/EBITDA
68.8x
Q4 FY26 · consolidated
NET PROFIT MARGIN
0.8%
Q4 FY26 · consolidated
DEBT TO EQUITY
0.1x
Q4 FY26 · consolidated
Peers · Passenger Cars & Utility Vehicles
As of Q4 FY26