This company, which has its presence in electric vehicles and renewable energy, announced its foray into the battery manufacturing facility in Gujarat. In this article, we will look at the announcement.
Price Movement
With a market capitalization of Rs 1,123 crore, the shares of Mercury EV-Tech Ltd made a 52-week high of Rs 139 per share, down by 57 percent from its current market price of Rs 59 per share. The stock has given a negative return of 50.54 percent over the last six months.
About the announcement
Mercury EV-Tech Ltd on Tuesday said it has ordered a 3.2 GW lithium-ion battery manufacturing facility at its Vadodara campus through its subsidiary PowerMetz Energy Pvt. Ltd.
The firm has established a cutting-edge battery-making factory capable of producing an array of chemistries ranging from LFP, NMC to Sodium-Ion Cells and Supercapacitor Modules. These batteries will be used for a variety of applications ranging from EV charging station infrastructure to grid-scale renewable energy storage. The firm has acquired a fully robotic production facility from a Chinese vendor, with machinery to be delivered by end-April and pilot production planned for mid-May 2025.
Adding to this, Darshal Shah of Mercury EV-Tech Limited remarked, It is one of the most sophisticated lithium-ion battery lines in India. The plant has top-of-the-line automation and a built-in laboratory to ensure compliance with global safety and performance norms. This project is in response to India’s changing energy policy, such as more than 30 GW of BESS auctions in the last six months and new requirements for two-hour BESS integration in government renewable projects.
Supported by robust momentum, Mercury EV-Tech is launching another 3.2 GW battery factory in South India, with Vadodara serving as the cornerstone facility. The firm, providing end-to-end EV solutions, has also got prime R&D campuses in Vadodara and Hyderabad, specializing in scalable innovation and high-range EV technologies.
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Financial Highlights
The company reported a revenue of Rs 35.60 crore in Q3 FY25, up by 677 percent, from its Q3 FY24 revenue of Rs 4.58 crore. It posted a net profit of Rs 4.28 crore in Q3 FY25, up by 707 percent, from its Q3 FY24 net profit of Rs 0.53 crores, and up by 167 percent from its Q2 FY25 net profit of Rs 1.60 crores.
About the Company
Mercury EV-Tech Limited is engaged in producing and dealing with electric vehicles and renewable energy systems. Its business portfolio consists of electric scooters, cars, buses, antique models, as well as specially designed EVs for hospitality, industrial, and recreational Purposes.
Previously Mercury Metals Limited, the company changed its name to Mercury EV-Tech Limited in March 2023 to align with its transition to clean mobility. Founded in 1986, the company continues to grow its footprint in India’s changing EV and energy ecosystem.
Written by Satyajeet Mukherjee
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