Result for the Qtr and year ended on 31st March 2026
MERCURYEV · price
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Awaiting price reaction for this filing.
Mercury Ev-Tech Ltd reported standalone revenue of Rs 4,537.21 Lakhs for FY2026, down ~29% from Rs 6,401.58 Lakhs in FY2025. Standalone net profit fell to Rs 223.12 Lakhs from Rs 438.75 Lakhs (approx 49% decline). Standalone EBITDA margin expanded from ~13% to ~21% year-on-year, indicating cost efficiency despite revenue contraction. The auditors issued an unmodified (clean) opinion on standalone results. However, on consolidated results, the auditors issued a qualified opinion because four subsidiaries (including one step-down subsidiary) with combined assets of Rs 9,249.89 Lakhs and revenue of Rs 5,763.33 Lakhs had unaudited financial statements. Additionally, the company had significant negative operating cash flows: Rs -2,351.71 Lakhs (standalone) and Rs -3,185.15 Lakhs (consolidated) for FY2026. A subsidiary merger (BV Nest Private Limited, wholly-owned) was also effective from April 1, 2023.
The company faces serious concerns: a near 50% drop in net profit, deeply negative operating cash flows indicating liquidity stress, and a qualified audit opinion on consolidated accounts due to unaudited subsidiaries. Shareholders should monitor the company's cash position and resolution of the subsidiary audit issue.