Mercury EV-Tech Limited: A Rising Star in the EV Sector


Mercury EV-Tech Limited is a company that is making waves in the electric vehicle (EV) sector in India. The company has been delivering stellar performance in terms of revenue, profit, and share price growth. In this blog post, we will take a closer look at the company’s business, products, financials, and future prospects.

What does Mercury EV-Tech Limited do?

Mercury EV-Tech Limited is engaged in the manufacturing of electronic vehicles. The company introduced a range of EVs with the view to save the environment and conserve natural resources. The company’s flagship brand Thunderbolt has a huge product range with different models. It is the listed entity with a core segment of EV manufacturing. Catering to the age group of 18 to 60 years.

The company offers various types of EVs, such as scooters, bikes, cars, buses, and trucks. The company claims that its EVs are eco-friendly, cost-effective, and high-performance. The company also provides after-sales service, spare parts, and charging infrastructure for its customers.

How is Mercury EV-Tech Limited performing financially?

Mercury EV-Tech Limited has been posting strong quarterly results for the past few quarters. The company’s revenue for Q2FY24 stood at Rs 5.52 crore, which grew by 77.62 per cent year-on-year (YoY). The operating profit of the company stood at Rs 1.12 crore, while the profit after tax (PAT) of the company stood at Rs 0.59 crore, representing an impressive growth of 701.35 per cent YoY.

The company’s earnings per share (EPS) for Q2FY24 was Rs 0.59, compared to Rs 0.07 for Q2FY23. The company’s return on equity (ROE) for Q2FY24 was 14.75 per cent, compared to 2.21 per cent for Q2FY23. The company’s debt-to-equity ratio for Q2FY24 was 0.18, compared to 0.32 for Q2FY23.

How is Mercury EV-Tech Limited performing in the stock market?

Mercury EV-Tech Limited has been rewarding its shareholders with multibagger returns in the last one year. During this period, the company’s share price jumped from Rs 6.43 on November 10, 2022, to Rs 58.84 on November 10, 2023, an increase of about 700 per cent in a one-year holding period.

The company’s market capitalization as of November 10, 2023, was Rs 294.2 crore. The company’s price-to-earnings (PE) ratio as of November 10, 2023, was 25.06, compared to the industry average of 34.56. The company’s price-to-book (PB) ratio as of November 10, 2023, was 3.69, compared to the industry average of 4.82.

The company’s shares were locked in the upper circuit on Friday, gaining 5.00 per cent. The stock also made a fresh 52-week high of Rs 58.84. The stock has witnessed heavy buying activity from investors in the last few days.

What are the future prospects of Mercury EV-Tech Limited?

Mercury EV-Tech Limited is well-positioned to capitalize on the growing demand for EVs in India. The company has a strong product portfolio, a loyal customer base, a robust distribution network, and a competitive edge in terms of technology and innovation. The company is also investing in research and development, capacity expansion, and marketing to enhance its brand value and market share.

The company is also expected to benefit from the favourable government policies and initiatives to promote the adoption of EVs in India. The government has announced various incentives and subsidies for EV manufacturers and buyers under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme. The government has also reduced the goods and services tax (GST) rate on EVs from 12 per cent to 5 per cent. The government has also set a target of achieving 30 per cent electric mobility by 2030.

The EV sector in India is expected to grow at a compound annual growth rate (CAGR) of 36 per cent during 2019-2026, reaching a market size of $47.5 billion by 2026. The factors driving the growth of the EV sector in India include rising environmental awareness, increasing fuel prices, declining battery costs, improving charging infrastructure, and changing consumer preferences.

Conclusion

Mercury EV-Tech Limited is a rising star in the EV sector in India. The company has been delivering outstanding financial performance and generating phenomenal returns for its shareholders. The company has a bright future ahead, as it is poised to leverage the huge potential of the EV market in India. The company’s shares are currently trading at an attractive valuation, and offer a great opportunity for long-term investors who are looking for a high-growth and high-return investment.

Disclaimer: This blog post is for informational purposes only and does not constitute any investment advice. Readers are advised to do their own research and analysis before making any investment decisions.

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