Result for the financial year ended on March 31, 2025 is attached
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Mercury Laboratories reported FY25 revenue from operations of ₹7,510.12 lakhs, marginally down from ₹7,555.90 lakhs in FY24. Net profit after tax fell sharply to ₹314.49 lakhs from ₹565.42 lakhs, a drop of about 44%, with EPS declining to ₹26.21 from ₹47.12. Profit before tax dropped to ₹466.17 lakhs from ₹692.03 lakhs as expenses grew faster than revenue, particularly employee costs which rose to ₹1,684.13 lakhs from ₹1,450.14 lakhs. The board has recommended a final dividend of 35% (₹3.50 per share) and the statutory auditor (Naresh & Co.) issued an unmodified opinion. Cash flow from operations nearly halved to ₹400.11 lakhs, and capital work-in-progress rose sharply to ₹931.88 lakhs indicating ongoing capex.
Sharp decline in profits despite stable revenue suggests margin pressure from rising costs, which may concern shareholders despite the steady dividend payout. The strong capital work-in-progress signals future capacity expansion but also higher depreciation ahead.