BSE: 531357 | NSE: | Automobiles - Passenger Cars | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Mercury Ev-Tech Ltd is a below average quality company.
The key valuation ratios of Mercury Ev-Tech Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Mercury Ev-Tech Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 0.9% | -3.7% | -3.1% | -15.7% | -8.6% | -10.6% | -7.6% | 25.6% | 3% | 3.7% | - |
| Value Creation Index ⓘ | -0.9 | -1.3 | -1.2 | -2.1 | -1.6 | -1.8 | -1.5 | 0.8 | -0.8 | -0.7 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 0.8 | 0.4 | 0.2 | 0.7 | 0.8 | 0 | 1.2 | 1.2 | 12.9 | 19.2 | 25 |
| Sales YoY Gr. | - | -46.8% | -63.4% | 353.3% | 22.1% | -100% | NA | 2.6% | 995.8% | 48.3% | - |
| Adj EPS ⓘ | 0 | -0.1 | -0 | -0.1 | -0.1 | -0.1 | -0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
| YoY Gr. | - | -700% | NA | NA | NA | NA | NA | NA | -58.3% | 140% | - |
| BVPS (₹) ⓘ | 1.3 | 1.5 | 1 | 0.8 | 0.7 | 0.6 | 0.6 | 0.7 | 3 | 4.6 | 10 |
| Adj Net Profit ⓘ | 0 | -0.1 | -0.1 | -0.2 | -0.1 | -0.1 | -0.1 | 0.2 | 0.9 | 2.2 | 2 |
| Cash Flow from Ops. ⓘ | 0 | 0 | 0 | -0.2 | 0 | 0 | 1 | -0.4 | -14.8 | -14.5 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.5 | -1.7 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 42.9% | 87.4% | 155.5% | 48.3% | ||||
| Adj EPS ⓘ | 31.8% | NA | NA | 140% | ||||
| BVPSⓘ | 15.5% | 46% | 99.1% | 54.2% | ||||
| Share Price | 37.5% | 202.1% | 369.8% | -26.7% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 2.2 | -3.7 | -3.1 | -12 | -8.6 | -10.1 | -7.6 | 18.7 | 3.4 | 3.4 | 1.5 |
| Op. Profit Mgn % ⓘ | 2 | -26.8 | -48.3 | -25.7 | -14.6 | 0 | -10.5 | 23.3 | 4.9 | 15.8 | 13.2 |
| Net Profit Mgn % ⓘ | 2.7 | -26.5 | -48.3 | -29.5 | -14.6 | 0 | -7.7 | 19.5 | 6.7 | 11.4 | 8.3 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.5 | 0.3 | 0.5 |
| Working Cap Days ⓘ | 1,265 | 2,316 | 4,951 | 875 | 673 | 0 | 197 | 121 | 799 | 1,307 | 464 |
| Cash Conv. Cycle ⓘ | 940 | 1,159 | 1,807 | 138 | 141 | 0 | 21 | 0 | 137 | 172 | 362 |
Sales growth is growing at healthy rate in last 3 years 155.50%
Sales growth is good in last 4 quarters at 61.70%
Return on Equity has declined versus last 3 years average to 1.50%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 0.1 | 0.2 |
| TTM Sales (₹ Cr.) | 25.2 | 33.5 |
| BVPS (₹.) ⓘ | 10 | 9.9 |
| Reserves (₹ Cr.) ⓘ | 171 | 169 |
| P/BV ⓘ | 8.83 | 8.91 |
| PE ⓘ | 781.44 | 587.32 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 64.32 / 139.20 |
| All Time Low / High (₹) | 0.33 / 143.80 |
| Market Cap (₹ Cr.) | 1,674 |
| Equity (₹ Cr.) | 19 |
| Face Value (₹) | 1 |
| Industry PE ⓘ | 27.7 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1 | 0 | 0 | 1 | 1 | 0 | 1 | 1 | 13 | 19 |
| Operating Expenses ⓘ | 1 | 1 | 0 | 1 | 1 | 0 | 1 | 1 | 12 | 16 |
| Manufacturing Costs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Material Costs | 1 | 0 | 0 | 1 | 1 | 0 | 1 | 1 | 10 | 14 |
| Employee Cost | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Other Costs ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 1 |
| Operating Profit ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 3 |
| Operating Profit Margin (%) | 2.0% | -26.8% | -48.2% | -38.6% | -14.6% | - | -10.5% | 23.3% | 4.9% | 15.8% |
| Other Income ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Interest ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 3 |
| Tax ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Profit After Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 |
| PAT Margin (%) | 2.7% | -26.5% | -48.2% | -38.6% | -14.6% | - | -7.7% | 19.5% | 6.8% | 11.4% |
| Adjusted EPS (₹) | 0.0 | -0.1 | 0.0 | -0.1 | -0.1 | -0.1 | -0.1 | 0.1 | 0.1 | 0.1 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 3 | 3 | 2 | 1 | 1 | 1 | 1 | 1 | 50 | 80 |
| Share Capital ⓘ | 7 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 17 | 18 |
| Reserves ⓘ | -5 | 2 | 1 | 1 | 1 | 1 | 0 | 1 | 33 | 63 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 22 | 25 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 22 | 23 |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Trade Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 6 |
| Others Liabilities ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 5 |
| Total Liabilities ⓘ | 3 | 3 | 2 | 2 | 1 | 1 | 1 | 1 | 76 | 116 |
Fixed Assets | ||||||||||
| Gross Block | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 6 |
| Accumulated Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Fixed Assetsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 5 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9 | 28 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 5 |
| Trade Receivables | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 6 | 13 |
| Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 9 | 1 |
| Others Assetsⓘ | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 43 | 63 |
| Total Assets ⓘ | 3 | 3 | 2 | 2 | 1 | 1 | 1 | 1 | 76 | 116 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | -15 | -15 |
| PBT ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 3 |
| Adjustment ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Changes in Working Capital ⓘ | -0 | 0 | 0 | -0 | 0 | 0 | 1 | -1 | -16 | -18 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -46 | -23 |
| Capex | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -11 | -23 |
| Net Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -36 | 0 |
| Cash Flow From Financing Activityⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 69 | 29 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 47 | 29 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 22 | 3 |
| Interest Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2 |
| Net Cash Flow ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 8 | -8 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 4.81 | -4.1 | -3.06 | -15.72 | -8.61 | -10.14 | -7.56 | 18.68 | 3.45 | 3.37 |
| ROCE (%) | 0.88 | -3.74 | -3.06 | -15.72 | -8.61 | -10.55 | -7.56 | 25.55 | 3.03 | 3.71 |
| Asset Turnover Ratio | 0.26 | 0.14 | 0.06 | 0.36 | 0.52 | 0 | 0.98 | 0.91 | 0.33 | 0.2 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -15 | -7.5 | Working Capital Days |
| Receivable Days | 381 | 0 | 268 | 212 | 206 | 0 | 0 | 0 | 183 | 189 |
| Inventory Days | 580 | 1,094 | 1,771 | 0 | 0 | 0 | 0 | 0 | 170 | 103 |
| Payable Days | 0 | 0 | 430 | 103 | 70 | 0 | 0 | 0 | 107 | 113 |
The company was originally incorporated as a “Mercury Metals Private Limited” on July 4, 1986 under the provisions of Companies Act, 1956 with Registrar of Companies, Gujarat, Dadra and Nagar Havelli. Subsequently on February 17, 1995 the name of the Company was changed from “Mercury Metals Private Limited” to “Mercury Capital Limited”. Further, on January 10, 1997, the name of the Company was changed from “Mercury Capital Limited” to “Mercury Metals Limited” and a fresh Certificate of Incorporation issued by the Registrar of Companies, Gujarat, Dadra and Nagar Havelli
The company was engaged in the trading of Metal till the Financial Year 2021-22. During the FY 2021-22, the existing management of the Company took over the promoter, promoter group holding along with management control of the Company after due compliance of applicable regulations of the SEBI Takeover Code. The new management decided to commence the business of Electronic Vehicle and ancillary business and necessary enabling main object was carried out with alteration in Main Object Clause in Memorandum of Association of the Company with the approval of shareholders.
The company is now engaged in manufacturing of electronic vehicles. The company introduce range of EV (electric vehicles) with the view to save the environment and conserve natural resources. The company’s flagship brand Thunderbolt has a huge product range with different models. It is the listed entity with a core segment of EV manufacturing. Catering to the age group of 18 to 60 years.
The company started its Research and Development (R&D) Division for 3W, 4W and also for the 2W at Gujarat Industrial area at Vadodara, Gujarat. At this facility, the company started development of key component like Chassis of the 2 Wheeler and 3 Wheeler. The Company has received certificate from International Centre for Automotive Technology (ICAT) for 2W segment and also applied for World Manufacturer Identifier (WMI) which is likely to be confirmed by mid of July 2022 for all its upcoming vehicles.
Moreover, the Company has started manufacturing of Chassis for captive consumption as well as the Company has received inquiries for manufacturing of chassis for established companies like Hero, Lords Automotive Private Limited, Blix Electric Scooters, Joy Bikes etc. The company has planned to manufacture 5000 chassis per month. The company at advance stage to acquired 80% stake in one of the company which is having ICAT approval for manufacturing of Motor Controller. The Company will start the documentation and production very shortly.
Business area of the company
The company is pioneer in the manufacturing of Electric Scooter, Electric Car, Electric Bus, Electric Vintage car, Electric Golf Car and Electric Vehicles in India. The company develops custom electric vehicles for a wide range of applications for the hospitality, industry, golf courses, Club and Resorts etc.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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