Multibagger EV stock: Mercury EV Tech share price surged nearly 1.14% to ₹38.96 apiece in Wednesday’s trading session following a rebound in the Indian stock market.
The multibagger EV stock has been under pressure lately as it has fell over 40% in six months and over 62% in last one year. However, the stock has more than doubled its investors wealth by giving returns of whopping 5,884.62% in last five years.
What’s behind the rally?
The EV stock surged after the company announced that it has inaugurated a new showroom in Porbandar, Gujarat, which is in-line with the company’s business expansion strategy.
“We wish to inform you that Mercury Ev-Tech Limited has inaugurated 1 new showroom in the state of Gujarat. The inauguration of these showrooms is in line with the Company’s business expansion strategy and is expected to strengthen our market presence and outreach,” the company said in an exchange filing dated November 18.
Mercury EV Tech Q2 results 2025
The company’s quarterly financial performance reflects strong momentum this fiscal. Net sales jumped 51% to ₹34.01 crore in Q2FY26, while net profit rose 35% to ₹1.72 crore compared with Q1FY26. For the first half of FY26, net sales climbed 142% to ₹56.58 crore and net profit increased 43% to ₹2.99 crore, indicating solid revenue expansion along with improving profitability.
Net profit for the September quarter FY26 rose as much as 15.7% to ₹1.84 crore, as compared to ₹1.59 crore same period a year ago. Meanwhile, revenue from operations surged over 75% to ₹34 crore in Q2 FY26.
Founded in 1986, Mercury Ev-Tech Ltd is engaged in manufacturing and trading electric vehicles and renewable energy–related products. Its wide product range includes electric scooters, cars, buses, and specialized offerings such as Electric Vintage cars and Golf carts. The company also develops customized EV solutions for use in hospitality and industrial environments.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
