Outcome of Board Meeting held on Thursday, 12th February, 2026
MERCURYEV · price
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The Board of Mercury Ev-Tech Ltd approved the un-audited financial results for Q3 and nine months ended December 31, 2025. On a standalone basis, revenue from operations dropped sharply to Rs 1,120.77 lakhs in Q3 FY26 from Rs 3,098.19 lakhs in Q3 FY25 (a fall of roughly 64%), while nine-month revenue declined to Rs 3,160.62 lakhs from Rs 4,747.36 lakhs (about 33% lower). Standalone profit after tax for Q3 fell to Rs 76.34 lakhs from Rs 398.21 lakhs, and for nine months it came in at Rs 227.19 lakhs versus Rs 526.90 lakhs. On a consolidated basis, Q3 revenue eased to Rs 2,528.91 lakhs, but nine-month consolidated revenue rose to Rs 8,186.23 lakhs from Rs 5,895.49 lakhs on the back of subsidiaries. The auditor issued a clean limited review on standalone numbers but flagged an Emphasis of Matter on the consolidated results, noting that subsidiary financials used for consolidation were not audited or reviewed by their auditors.
The sharp year-on-year drop in standalone revenue and profit in Q3 is a red flag for the core EV-business performance and may weigh on the stock in the short term, though the strong nine-month consolidated topline growth suggests subsidiaries are scaling up and offsetting standalone weakness. The Emphasis of Matter on unaudited subsidiary numbers means investors should treat the consolidated figures with some caution.