Mercury EV-Tech share price today

Mercury EV-Tech Ltd's share price was ₹31.81 at the close on 4 November 2026. It has been falling for 1 week. That is 15.1% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹24 and ₹42, and at that close it sat 43% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Mercury EV-Tech Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 3 weeks running.

Over the last 10 years the share price moved +9,256% while the NIFTY 500 moved +221%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 16 October 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

8 points in one quarter, best operating margin in 9 quarters and foreign funds (FIIs) cut their stake for 3 quarters in a row.

1. Promoters cut their stake by 3.8 points in one quarter

   From 59.2% to 55.4% in the September 2026 quarter.

2. Best operating margin in 9 quarters

   Operating margin was 21.2% in the September 2026 quarter, against 8.9% a year earlier.

3. Foreign funds (FIIs) cut their stake for 3 quarters in a row

   From 2.7% to 0.6% of the company by the September 2026 quarter.

For July to September 2026 (the quarter ended 30 September 2026), Mercury EV-Tech reported revenue of ₹30.1 crore, down 11.5% from ₹34.0 crore a year earlier, and a profit of ₹1.56 crore, down 9.3% from ₹1.72 crore.

Mercury EV-Tech results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Mercury EV-Tech closed at ₹31.81 on 4 November 2026, down 24.2% from ₹41.98 a year earlier (7 November 2025) and up 3,827.2% over five years. Its highest weekly close since May 2016 was ₹129.80 on 15 December 2023.

Mercury EV-Tech share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

283 weekly closes from 27 May 2016 to 4 November 2026.

4 Nov 2026: Mercury EV-Tech closed at ₹31.81, down 0.7% on the week and down 14.4% on the month. Results for July to September 2026: Revenue down 11.5% and profit down 9.3% on a year earlier.

Mercury EV-Tech has paid no dividend on the NSE since 1 April 2021, the start of the period we checked.

No. Mercury EV-Tech Ltd paid out 0% of its profit as dividends in each of its last 5 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate.

From the NSE corporate-actions record, read 5 November 2026.

Mercury EV-Tech is on one of our India lists: Penny stocks.

Mercury EV-Tech Ltd earned ₹1.6 Cr of net profit in the Sep 2026 quarter, −9.3% on the same quarter a year earlier. Full-year FY26 profit was ₹4.0 Cr. That is 5.2% of the quarter's revenue. The same quarter a year earlier earned ₹1.7 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹4.0 Cr (−50.0% on the year before).

Why profit moved: revenue changed −11.5% on a year earlier and the margin moved +12.3 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed −34.8% and revenue −6.7%. Profit is growing slower than sales: rising costs are taking part of the growth.

Mercury EV-Tech Ltd reported ₹30.1 Cr of revenue in the Sep 2026 quarter, −11.5% on the same quarter a year earlier. Over 4 years it has grown 217.0% a year on average. The last full year, FY26, came in at ₹101 Cr. The last four reported quarters add to ₹109 Cr.

Revenue is everything the company billed its customers in the period.

FY26 revenue was ₹101 Cr, +13.5% on the year before.

Recent pace: the last four quarters grew −6.7% on average, against 217.0% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew −11.3%, against +80.4% a year over the last 8 quarters (rolling over); profit over the last 12 months grew −50.1%, against +24.3% a year (rolling over).

Mercury EV-Tech Ltd's operating margin was 21.2% in the Sep 2026 quarter, 12.3 percentage points higher than the same quarter a year ago. Across 5 years it has been between 5.0% and 24.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +12.3 percentage points on the year while gross margin changed +9.1 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years Mercury EV-Tech Ltd's operations used more cash than they brought in, so cash conversion was −650%, a gap worth watching. In FY26 its operations used ₹32.0 Cr of cash, against ₹4.0 Cr of profit. After ₹28.0 Cr of spending on assets, free cash was −₹60.0 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why −650% of profit came in as cash: the cash cycle got 434 days longer between FY22 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: less of the profit turns into cash than it should, and the cash cycle is 434 days longer. The next section looks at where the cash is stuck.

Mercury EV-Tech Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 434 days in FY26, up from 0 days in FY22. It spent ₹90.0 Cr on assets over the last 3 years. Customers take 187 days to pay, and stock sits for 352 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹101 Cr, each day of that cycle ties up about ₹0.3 Cr, so roughly ₹120 Cr is tied up in the business at any time.

FY26: customers took 187 days to pay and stock sat for 352 days, about 11.6 months of sales sitting as stock, for a full cycle of 434 days, longer than FY22's 0.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 352 days. Customers pay about 187 days after that. Suppliers are paid at 105 days. Together that makes the 434-day cycle.

Spending on assets: ₹90.0 Cr over the last 3 years, against ₹5.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹32.0 Cr (FY26): assets paid for that are not earning yet.

In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit.

Mercury EV-Tech Ltd's P/E is 137.5×, near the low end of its own history: it has been lower only 26% of the time. Its usual P/E (the middle reading) is 268.4×, over 3.7 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹0.24.

Why the multiple is where it is: over the past year earnings per share moved −43.9% while the price moved −24.2%. The price did better than earnings, which pushed the multiple up within its own range.

Where the price move came from: over 3 years the price moved −12.0% a year; about +22.7% a year came from earnings growth and about −34.7 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple.

Mercury EV-Tech Ltd's business is getting worse. Profit and EPS growth are shrinking: profit growth is −50.1% in the latest quarter, against +372.8% at its best in 12 quarters, with ROCE falling at 2.5%. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Mercury EV-Tech Ltd earned a ROCE of 3% in FY26. Its return on capital used (ROIC) is 10.4 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 4.0% net margin and 0.28× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 4.0% net margin × 0.28× asset turnover × 1.28× leverage (assets divided by equity) ≈ 1.4% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed.

The key test, return on capital used minus the cost of capital: 1.6% − 12.0% = −10.4 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.

Mercury EV-Tech Ltd has total debt of ₹24.0 Cr against shareholder equity of ₹279 Cr as of Mar 2026, so its debt is 0.09× its equity, which is very little. Year by year, that ratio went from 0.46 in FY23 to 0.09 in FY26. So the returns on this page come from the business, not from borrowed money.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Promoters cut their stake in Mercury EV-Tech Ltd by 6.7 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 55.4% of the company. Foreign institutions moved +0.4 points over the same period, to 0.6%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Why the owners changed: promoters drove it (−6.7 points). They reduced their stake.

For Mercury EV-Tech Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

31.1 out of 100, rank 20 of 21 in Auto Ancillaries - Diversified, with 68% of the evidence available.

Mercury EV-Tech Ltd scores 31.1 out of 100 against the 21 companies it is compared with in Auto Ancillaries - Diversified, ranking 20. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 8.4 + 5.6 + 8.5 + 8.6 = 31.1. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Mercury EV-Tech ranks 20 of 21 Auto Ancillaries - Diversified companies on the 4-Factor Sector Score, with 31.1 out of 100.