Mercury Ev-Tech Rallies 14% on AGM & Expansion News

Prime Highlights

Mercury Ev-Tech’s stock surged 14.71% to ₹42.31 after the company announced its 39th AGM scheduled for December 15, 2025, in Vadodara.
Despite recent declines, the company remains a long-term multibagger, delivering over 6,367% returns in five years.

Key Facts

Key AGM agenda items include adopting FY25 audited results, re-appointing director Darshankumar Jitendra Shah, and appointing Riya Vinodbhai Sharma as a non-executive independent director.
The company reported strong financial performance in Q2FY26, with net sales up 51% to ₹34.01 crore and net profit rising 35% to ₹1.72 crore compared to Q1FY26.

Background

Shares of Mercury Ev-Tech surged 14.71% to ₹42.31 apiece on Monday after the company announced the date of its 39th Annual General Meeting (AGM). The electric vehicle manufacturer confirmed that the AGM will take place on December 15, 2025, at its registered office in Vadodara, Gujarat.

The stock has shown mixed performance in recent months. While short-term investors have faced losses, with the share declining more than 33% over the past six months and 58% in the last year, long-term shareholders continue to enjoy large gains. The multibagger has delivered a massive 6,367.69% return over the last five years, turning into a major wealth creator in the EV space.

In its exchange filing, the company stated that key items on the AGM agenda include the adoption of audited financial results for FY25, the re-appointment of director Darshankumar Jitendra Shah, and the appointment of Riya Vinodbhai Sharma as a non-executive independent director. Shareholders will also vote on appointing SJV & Associates as secretarial auditors and authorising the board to issue loans, advances, or securities.

The stock also received a push from recent business expansion news. Last week, the company opened a new showroom in Porbandar, Gujarat, to expand its presence in the state and boost its retail growth.

Mercury Ev-Tech delivered strong financial results this year. In Q2FY26, the company increased net sales by 51% to ₹34.01 crore and raised net profit by 35% to ₹1.72 crore compared to Q1FY26. For the first half of FY26, revenue jumped 142% and profit grew 43%. Year-on-year, Q2 profit climbed 15.7% and revenue increased by over 75%.

Founded in 1986, Mercury Ev-Tech manufactures a wide range of electric vehicles, including scooters, buses, cars, golf carts, and customized EV solutions for industrial and hospitality sectors.