Company Overview
Mercury EV-Tech Limited (BSE: 531357, NSE: MERCURYEV) held its 40th Annual General Meeting on September 30, 2026, seeking shareholder approval for material related party transactions aggregating ₹200 crore annually with five entities including subsidiaries and companies with common directors.
Financial Performance
For FY26, the company reported standalone net profit of ₹283 lakhs on revenue of ₹5,030 lakhs, while consolidated performance showed net profit of ₹439 lakhs on revenue of ₹10,794 lakhs. This represents a decline from FY25's consolidated net profit of ₹770 lakhs despite revenue growth from ₹9,309 lakhs. The company completed a preferential allotment of 1.44 crore shares at ₹75 per share, raising ₹10,675 lakhs in securities premium.
AGM Agenda and Corporate Actions
The AGM agenda included adoption of financial statements, reappointment of directors, and appointment of statutory auditor Tejas K. Soni for 3 years and secretarial auditor Nisarg Sharma & Associates for 5 years. Key approvals sought included material RPTs with Sunbuy Renewables Limited, DC2 Mercury Cars Private Limited, Powermetz Energy Private Limited, Traclaxx Tractors Private Limited, and Go Evexia division of Evexia Lifecare Limited.
Financial Position and Operations
As of March 31, 2026, the company held loans to related parties of ₹3,107 lakhs and trade receivables of ₹3,853 lakhs. The balance sheet showed cash equivalents of ₹491 lakhs, inventories of ₹4,196 lakhs, and borrowings of ₹479 lakhs. Promoter holding stood at 59.18% with public holding at 31.39%.
Regulatory Compliance and Governance
The company confirmed compliance with SEBI Listing Regulations, paid annual listing fees to both BSE and NSE, and disclosed no material contingent liabilities or pending legal proceedings. The AGM was conducted virtually with e-voting available from September 25-27, 2026, with record date set for September 18, 2026.