Mercury EV-Tech Shares Rally Amid Amazing Q3 Results; Check Details Here

On Wednesday, shares of Mercury EV-Tech Limited surged around 5%, trading at an intraday high of Rs 78.64 per share from its previous closing of Rs 72.92. The stock has 52 week high of Rs 139.20 and 52 low of Rs 64.32. The company has a market capital of Rs 1,300 crore.

Quarterly (Q3FY25) and nine-month (9MFY25) results have been released and are very positive. In the latest quarter which was the three months ending December 2024 (Q3FY25) the company's net sales increased to Rs 35.60 crore, up 677% and net profit surged to Rs 4.28 crore which is a growth of 708%.
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This activity and some others were some of the main highlights that were reported to take place after the Board Meeting which occurred on December 17, 2024. The meeting directed that Mercury EV-Tech Ltd intends to set up a new company. This new company is going to be called "GLOBAL MERCURY CONTAINER PRIVATE LIMITED." And the company has received a green light from the Ministry Of Corporate Affairs. The capital once fully authorized and paid up shall be Rs 10,00,000 with Mercury holding Rs 6,00,000 after subscribing for 60,000 equity shares which constitutes 60% of the paid-up capital.

GLOBAL MERCURY CONTAINER PRIVATE LIMITED is likely to be engaged in the production and trade of several types of containers which include but are not limited to ISO containers and their variants. The venture fits well with the existing business of Mercury EV-Tech and enhances its scope of operation.

The company's purchase of 70% of the shares of Haitek Automotive Private Limited for Rs 3.5 million might be seen as a concurrent development. The reason behind this acquisition is to strengthen the presence of Mercury EV-Tech in the three-wheeler sector within the West Bengal state. It is anticipated that the use of Haitek's infrastructure and customer base will increase Mercury's share of the market and profitability.

Further, the efforts of Mercury E V Tech were further cemented after obtaining approval from the GEDA for marketing and selling of the lithium li-ion battery-powered e-rickshaws throughout the state during the 2024-25 financial year. This approval is an important step for the company as it moves into the area of e-rickshaws as a new feature in its acquisition of a sustainable transport system.

In September 2021, Foreign Institutional Investors (FIIs), in the company, began to increase their stake and in November 2024 bought 30,00,000 shares of the company. The increase in their stake saw their ownership to 1.72% up from the previous quarter. The stock increases the total return of Mercury EV Tech resources by approximately 695% in two years, 11,000% in three years and 27,000% in five years making it one of the most profitable investments.

Previously, Mercury Metals Limited has Since then focused on the manufacture of electric scooters, electric cars, electric buses, electric vintage cars and golf cars, among other electric vehicles, Mercury EV-Tech Ltd is one of the companies whose market share currently stands at Rs 1660 crores. The company announced good financial results for the Q2FY25 and H1FY25, confirming their growth.

These strategic initiatives emphasize Mercury EV-Tech's target for innovation and expansion into more markets to make it a dominant player in the electric car and container manufacturing industries. Investments are still pouring in as a reflection of the outstanding performance of the company and strategies targeting growth.