Enclosed herewith Outcome of the Board Meeting held on August 14, 2025
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Mercury Ev-Tech Ltd's board approved its Q1 FY26 unaudited financial results on August 14, 2025. On a standalone basis, revenue from operations nearly doubled to Rs. 490.84 lakhs (vs Rs. 258.16 lakhs in Q1 FY25), but net profit dipped slightly to Rs. 35.73 lakhs from Rs. 39.09 lakhs. On a consolidated basis, which includes five subsidiaries, revenue surged to Rs. 2,256.65 lakhs from Rs. 387.49 lakhs (over 5x YoY), and net profit jumped to Rs. 162.58 lakhs from Rs. 48.50 lakhs (~3.3x YoY). Consolidated EPS improved to Rs. 0.067 from Rs. 0.028. The company also acquired a 70% stake in Haitek Automotive Private Limited during the quarter, making it a new subsidiary. The auditor issued a clean review opinion, but flagged an emphasis of matter noting that subsidiary results were consolidated based on unaudited financial statements.
Strong top-line and profit growth at the consolidated level signals rapid scaling, supported by a new subsidiary acquisition. However, standalone profitability slightly weakened and margins compressed, suggesting rising costs from subsidiary consolidation. Investors should watch for updates on the unaudited subsidiary contributions and whether margin pressure persists.