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MERCURYEV · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Mercury Ev-Tech Ltd reported audited standalone results for FY ended March 2026 with revenue from operations of Rs 4,537.21 Lakhs, up 125% from Rs 2,013.17 Lakhs in the previous year. Standalone profit after tax grew 50% to Rs 223.12 Lakhs from Rs 148.62 Lakhs. The company also announced consolidated results showing total revenue of Rs 11,412.07 Lakhs and PAT of Rs 438.75 Lakhs. A subsidiary merger with BV Nest Private Limited (wholly-owned) was completed as per NCLT order effective April 1, 2023. The auditors issued an unmodified (clean) opinion on standalone results, but issued a qualified opinion on consolidated results due to four subsidiaries with unaudited financial statements representing Rs 9,249.89 Lakhs in assets and Rs 5,763.33 Lakhs in revenue. Declaration confirming unmodified audit opinions was filed under Regulation 33(3)(d).
Strong standalone revenue and profit growth reflects healthy operational performance in the EV and solar segment. However, the qualified opinion on consolidated accounts due to unaudited subsidiaries raises concerns about governance and financial transparency. The negative operating cash flows (standalone: Rs -2,338.71 Lakhs) indicate cash burn that investors should monitor closely.