EV Stock Knocks Upper Circuit On Launching Multi-Chemistry Battery Hub In Gujarat

Mercury's EV-Tech plant for lithium-ion batteries will have multidisciplinary capabilities, allowing it to manufacture and formulate intricate cell chemistries like LFP, NMC, sodium-ion, and supercapacitor modules. Mercury previously purchased a production line, considering it fully robotic and high-throughput. A Chinese vendor is expected to provide the line within the coming weeks. An Indian technical representative is set to travel to China for system inspection on April 15 and is optimistic about receiving the appliances. The company aims to achieve pilot production by mid-May 2025.

This begins at the same time India is gaining traction in the battery storage sector after auctioning more than 30 GW of Battery Energy Storage Systems (BESS) in the past six months. To further build upon this momentum, Mercury EV-Tech aims to set up an additional 3.2 GW battery plant in the south. As part of the expansion plans, the initial land scope has been completed for four to five possible sites.

Mercury EV-Tech continues to enhance its R&D innovation with an 18-acre research and development center located in Vadodara, as well as another in Hyderabad. These centers are tasked with the development of energy storage systems and electric mobility systems, engineering the branded vehicle solutions.

Mercury EV-Tech Ltd is a comprehensive firm focusing on electric cars and renewable energy since 1986. This company has a vast array of electric vehicles in its product portfolio, including electric scooters, cars, buses, vintage cars, golf cars, etc. In addition, the company builds electric vehicles (EV) for bespoke requirements for hospices, industrials, golf courses, resorts, and clubs.

The firm's performance remains excellent on the financial side. For Q3FY25, Mercury EV-Tech recorded a 677% increase in net sales to Rs 35.60 crores, along with an astonishing 708% increase in net profit to Rs 4.28 crores. For nine months of FY24, the company's net sales grew by 240% to Rs 58.95 crores, while net profit for the period also jumped by 241% to Rs 6.37 crores compared to the previous FY period.

Mercury EV-Tech's stock is also responding positively to these developments. Currently, Mercury EV-Tech's shares are priced at Rs 58.90, an increase of 3.35% from the last closing price. Moreover, in the last five years, the company's stocks made shareholders 16,342% richer, earning it the position of a leading multibagger stock in the renewable energy and EV sector.

The latest data from December 2024 illustrates promoters possess 59.17%, foreign institutional investors (FIIs) 1.69%, and the public 39.13%. Also, it is remarkable that promoter holding dropped to 62.10% from the preceding quarter, while FII involvement rose sharply from 0.16% to 1.69%, which suggests increasing interest from institutions. With the new facility now operational and further expansion plans, the company is set to Mercury EV-Tech, positioned strategically to aid India's shift towards sustainable energy and e-mobility solutions.

Mercury EV-Tech Reports 677% Net Sales Growth in Q3FY25

-Goodreturns

Mercury EV-Tech recorded a 677% increase in net sales to Rs 35.60 crores, along with an astonishing 708% increase in net profit to Rs 4.28 crores. For nine months of FY24, the company's net sales grew by 240% to Rs 58.95 crores, while net profit for the period also jumped by 241% to Rs 6.37 crores compared to the previous FY period.