Attached herewith the outcome of Board meeting held on 22.05.2025 in which Chairman of the Company is appointed.
MERCURYEV · price
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The board of Mercury Ev-Tech Ltd, at its May 22, 2025 meeting, appointed Mr. Jayesh Raichandbhai Thakkar as Chairman of the company; he continues as Managing Director. The board also approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025. On a standalone basis, revenue from operations jumped to Rs. 6,764.27 lakhs in FY25 from Rs. 1,516.05 lakhs in FY24, while net profit rose to Rs. 638.58 lakhs from Rs. 219.27 lakhs. Consolidated revenue stood at Rs. 8,963.64 lakhs with a net profit of Rs. 769.70 lakhs. The statutory auditor issued an unmodified opinion. During the year, the company raised funds via equity share allotment (Rs. 108+ crore at Rs. 75/share) and allotted 4.53 crore convertible warrants. It also acquired a 69.84% stake in DC2 Mercury Cars Pvt Ltd, making it a subsidiary. Related party transaction limits with Sunbuy Renewables were ratified, and a postal ballot was approved for borrowing and investment limit revisions.
Strong topline growth (~4.5x on standalone) and a near-tripling of net profit suggest a sharp business expansion, supported by fresh equity raises and a new subsidiary addition. For shareholders, the consolidation of Chairman and Managing Director roles in one person centralizes decision-making, which could speed up execution but also raises governance concentration concerns.