Multibagger EV stock under Rs 65: Company inaugurated an electric vehicle showroom in Bhavnagar, Gujarat
The stock gave multibagger returns of 6,550 per cent in 3 years and a whopping 17,065 per cent in 5 years.
On Tuesday, shares of Mercury EV-Tech Ltd surged 2.2 per cent to Rs 62.75 per share from its previous closing of Rs 61.40 per share. The stock’s 52-week high is Rs 139.20 per share and its 52-week low is Rs 51.24 per share.
Mercury EV Tech, a leading electric vehicle solutions provider in Gujarat, recently inaugurated its new EV showroom in Bhavnagar. The grand ribbon-cutting ceremony was graced by prominent political figures, including former Cabinet Minister and current MLA Shri Jitu Bhai Vaghani, MLA of Bhavnagar East Smt. Sejal Ben Pandya, and Mayor Shri Bharat Bhai Barad. Key members of the Mercury EV Tech team, including Chairman Shri Jayesh Thakkar, Darshan Shah, and Garima Malvankar, were also present, alongside various distinguished guests from local business and political spheres.
Located near Jashonath Circle, opposite Gangajaliya Lake, the new showroom aims to be Bhavnagar's central hub for "Make in India" and affordable electric vehicles. Chairman Shri Jayesh Thakkar emphasised that electric vehicles not only reduce pollution but also offer significant cost savings, aligning with Prime Minister Modi's vision for carbon emission reduction and a self-reliant India. The showroom will feature a wide range of electric vehicles, from two-wheelers and three-wheeler passenger vehicles to loaders and electric tempos, marking a significant step towards making Bhavnagar a pollution-free and EV-powered city.
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About the Company
Mercury EV Tech, a leading electric vehicle solutions provider based in Gujarat, offers end-to-end EV solutions, including in-house manufacturing of crucial components like batteries, chassis, and motor controllers, supported by a CED coating plant for quality and cost control. Committed to "Atmanirbhar Bharat," they are establishing one of India's largest Lithium-Ion battery manufacturing facilities in Vadodara with a 3.2 GW capacity, expected to begin pilot production by mid-June 2025, which will produce various battery chemistries for diverse EV and Battery Energy Storage System (BESS) applications. With dedicated R&D centres and strategic in-house manufacturing, Mercury EV Tech is well-positioned to capitalise on India's rapidly growing EV and BESS markets, driven by supportive government policies and increasing demand for clean energy solutions.
The company has a market cap of over Rs 1,100 crore and reported stellar numbers in its Quarterly Results (Q4FY25) and annual results (FY25). According to quarterly results, the net sales increased by 451 per cent to Rs 30.68 crore and net profit increased by 470 per cent to Rs 1.34 crore in Q4FY25 compared to Q4FY24. In its annual results, the net sales increased by 307 per cent to Rs 89.64 crore and the net profit increased by 286 per cent to Rs 7.70 crore in FY25 compared to FY24.
The stock is up by 22.5 per cent from its 52-week low of Rs 51.24 per share. In FY25, FIIs took a fresh entry and bought 36,43,605 shares or 1.92 per cent compared to FY24. The stock gave multibagger returns of 6,550 per cent in 3 years and a whopping 17,065 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.