EV stock engaged in the manufacturing of Electric Vehicles for a range of applications for the hospitality, industry, golf courses, and many more in focus upon receiving a grant license to sell its electric vehicles in the state of Delhi.
With a market capitalization of Rs. 1,474 Crores, the shares of Mercury Ev-Tech Limited were trading at Rs. 84, up 0.45 percent from its previous day’s close price of Rs. 83.62. It has delivered multibagger returns of 24,600 percent in 5 years by jumping from Rs. 0.34 to Rs. 84.
Mercury Ev-Tech Limited has received state approval from the Government of NCT of Delhi for selling its following vehicles E-Passenger Rickshaw with a seating capacity of 6+1 which is Battery operated 3W & L5M and E-Cart-Loader Battery operated 3W & L5N in the territory.
Following this approval Mercury EV-Tech Limited becomes the first Company to get state approval from the Government of NCT of Delhi for E-Rickshaw- Passengers, this enables the company to sell the vehicles to customers thereby bolstering the company’s revenue stream.
Mercury Ev-Tech Limited is engaged in the manufacturing of Electric Vehicles for a range of applications for the hospitality, industry, golf courses, clubs, Resorts, and many more. It operates its vehicles under the brand names Thunderbolt, Thunderbolt DODO and Thunderbolt LIMOSA.
Mercury Ev-Tech Limited has an in-house facility for manufacturing key components like battery, chassis, motor controller, brake shoe, CED paint and an already operational assembly line
Its revenue from operations grew by 6.51 percent from Rs. 4.30 Crores in Q3FY23 to Rs. 4.58 Crores in Q3FY24, accompanied by profits of Rs. 1.02 Crore to Rs. 53 Lakhs.
It has reported a return on equity (ROE) of 4.99 percent and a return on capital employed (ROCE) of 4.35 percent, it is making decent returns on its equity and capital employed.
Written by: Bharath K.S
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