Appointment of Chairman of the Company.
MERCURYEV · price
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Mercury Ev-Tech Ltd held a board meeting on May 22, 2025 and approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025. The company also appointed Mr. Jayesh Raichandbhai Thakkar as Chairman of the Company; he continues to serve as Managing Director. Standalone FY25 revenue from operations surged to Rs. 6,764.27 lakhs from Rs. 1,516.05 lakhs in FY24, while net profit rose to Rs. 638.58 lakhs from Rs. 219.27 lakhs. Consolidated FY25 revenue was Rs. 8,963.64 lakhs and net profit Rs. 769.70 lakhs. The board also approved revised limits for related party transactions and borrowings, ratification of exceeded Section 188 limits with Sunbuy Renewables Limited, and a postal ballot notice for shareholder approvals. The statutory auditor issued an unmodified opinion. During the year, the company raised Rs. 108.19 crore via allotment of 1.44 crore equity shares at a premium of Rs. 74 and allotted 4.53 crore convertible warrants at Rs. 75 each. It also acquired a 69.84% stake in DC2 Mercury Cars Private Limited, making it a subsidiary.
Strong revenue and profit growth for FY25, backed by a significant equity and warrant raise and a new subsidiary acquisition, may support positive investor sentiment. Consolidation of leadership with one person holding both Chairman and Managing Director roles signals concentrated decision-making but also continuity in strategy.