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Mercury Ev-Tech Ltd (MERCURYEV) Fair Value & Analysis

Consumer Discretionary · IN · Market cap ₹6.7B

ME Mercury Ev-Tech Ltd MERCURYEV · BSE
Price₹38.86
Fair Value₹3.93
Upside-89.9%
Quality32/100
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Risks

!Trades 889% ABOVE our fair value of ₹3.93
!Expensive Growth (revenue 3y +87.0 %/yr)
!Thin margins · 4.8% net margin
!Low debt · negative free cash flow
Expensive Growth (revenue 3y +87.0 %/yr)
Thin margins · 4.8% net margin
Low debt · negative free cash flow
Trails peers (4/12)
Narrow moat 29/100
Evidence: Medium Range ₹2.94 – ₹4.91 Share as image

Fair value as of: Aug 13, 2026

From 14 valuation models · updated 13 days ago

Below-average quality, and trading another 889% above our fair value.

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What matters now

  • The price sits above even our optimistic bull case (₹4.91). The favourable scenario is already priced in.
  • Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

₹136.96 ₹0.3397 Fair Value ₹3.93 Oct 2015 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹0.3397 – ₹136.96 · fair‑value band ₹2.94 – ₹4.91 · the ₹38.86 price screens above the ₹3.93 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Mercury Ev-Tech Ltd (MERCURYEV) currently trades at ₹38.86, while our model-based Fair Value estimate is ₹3.93, implying the stock looks roughly 89.9% overvalued today. The Quality Score stands at 32/100 (below-average quality), in the Consumer Discretionary sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Mercury Ev-Tech Ltd generated revenue of ₹1.2B at a net margin of 4.8%. Revenue declined 29.3% year over year. It earns a return on equity of 5.1%. Net debt stands at ₹4.9M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹2.94 (bear case) to ₹4.91 (bull case); at ₹38.86, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 35% below its 52-week high and 94% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Discretionary peers we cover trades at -43% fair-value upside, at -90%, MERCURYEV screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (₹1.21 to ₹10.95). Read the values as a conservative anchor, not as a price target.
Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
ROIC Compounder ₹1.06 ₹1.21 ₹1.34 72
Growth-Adj P/E ₹7.29 ₹10.42 ₹13.54 68
P/E Multiple ₹3.46 ₹4.62 ₹5.77 63
All 14 models by family
Earnings-Based
Graham-Dodd ₹1.57 ₹10.95 ₹15.37 54
Lynch FV ₹5.66 ₹8.08 ₹10.51 50
PEG = 1.0 ₹5.66 ₹8.08 ₹10.51 46
EPV ₹1.06 ₹1.21 ₹1.34 59
Multiples
P/E Multiple ₹3.46 ₹4.62 ₹5.77 63
P/S Multiple ₹2.94 ₹3.93 ₹4.91 58
P/B Multiple ₹2.94 ₹3.93 ₹4.91 55
EV/EBIT ₹1.91 ₹2.52 ₹3.13 53
EV/EBITDA ₹3.27 ₹4.33 ₹5.40 54
EV/Revenue ₹1.32 ₹1.84 ₹2.37 43
Asset-Based
NCAV (Graham) ₹7.31 ₹9.79 ₹14.61 50
Economic Profit
Residual Income ₹9.99 ₹9.33 ₹6.97 61
ROIC Compounder ₹1.06 ₹1.21 ₹1.34 72
Growth Earnings
Growth-Adj P/E ₹7.29 ₹10.42 ₹13.54 68

Widest divergence: Growth Earnings (₹10.42) versus Economic Profit (₹1.21). Highest evidence: ROIC Compounder (72).

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Key figures & financial health

P/E ratio 176.6
P/S ratio 5.75 TTM
Net margin 4.8% TTM
Return on equity 5.1% TTM
Return on assets 2.9% TTM
Operating margin 5.6% TTM
More key figures
Profitability
EPS (TTM) ₹0.2200
Growth
Revenue (TTM) ₹1.2B TTM
Revenue growth (YoY) -29.3% 3y avg +87.0%
EPS growth (YoY) -82.5%
Balance sheet & cash flow
Free cash flow −₹554M FY2026
Net debt ₹4.9M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 32/100

Of which business quality 34 · Market factors (momentum, volatility) 30

Profitability 20
Margins and returns on capital today
Quality Growth 65
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 6
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 29
Distance to the 52-week high (market factor)
Net Issuance 59
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Mercury Ev-Tech Ltd reported revenue of ₹1.0B in FY2026 versus ₹8.3M in FY2022, a compound +232.8%/yr. Reported net income was ₹43.9M in FY2026, compounding +108.8%/yr from FY2022.

Growth Quality 52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹1.0B
Latest YoY
+13.9%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+87.0%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
−1.1% (-1.1 + 0.0)
Revenue +232.8%/yr
FY22 ₹8.3M
FY23 ₹156M
FY24 ₹220M
FY25 ₹896M
FY26 ₹1.0B
Net income +108.8%/yr
FY22 ₹2.3M
FY23 ₹13.9M
FY24 ₹19.9M
FY25 ₹77.0M
FY26 ₹43.9M

MERCURYEV screens 90% overvalued. Compare with Alibaba Group →

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Cite: Fair Value Calculator (2026). "Mercury Ev-Tech Ltd Fair Value". https://www.fairvalue-calculator.com/stock/MERCURYEV

Peer Group

Consumer Discretionary · 3833 stocks

How this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Automobiles” was too small, so the broader sector is used.)

Quality Score 32 · Bottom 25%
Fair Value upside −90% · Bottom 25%
Return on equity (TTM) 5% · Below median
Return on assets 3% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 6% · Above median
Revenue growth -29% · Bottom 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Consumer Discretionary median · lower = cheaper

P/E (TTM) 176.6× · Pricier than 75% of peers
P/B 2.41× · Pricier than median
P/S (TTM) 5.75× · Pricier than 75% of peers
EV/EBITDA 74.1× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 22
FUTURE0 · sector 15
PAST20 · sector 21
HEALTH100 · sector 96
DIVIDEND0 · sector 43

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Automobiles stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Alibaba Group 89988 HK$97.45 HK$48.38 -50%
JD.com, Inc 89618 ¥95.45 ¥73.98 -22%
ALWN ALWN €13.50 €11.72 -13%
Zhong Jia Guo Xin Holdings 2997 HK$0.0990 HK$0.1466 +48%
BYLOT BYLOT €1.17 €0.3900 -67%
Fameglow Holdings 8603 HK$21.78 HK$11.13 -49%
BBBY BBBY $4.15 $0.5600 -87%
SAPL SAPL ₹3,998 ₹2,275 -43%
MCCHRLSB MCCHRLSB ₹670.10 ₹142.86 -79%
RAJPALAYAM RAJPALAYAM ₹823.35 ₹1,694 +106%

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Frequently asked questions

Is Mercury Ev-Tech Ltd (MERCURYEV) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹3.93 versus a price of ₹38.86, about −90% (overvalued).
What is the fair value of MERCURYEV?
Our model-based fair value for Mercury Ev-Tech Ltd is ₹3.93 (as of Aug 13, 2026), built from audited fundamentals. The current price: ₹38.86.
What is the quality score of MERCURYEV?
Mercury Ev-Tech Ltd has a Quality Score of 32/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Mercury Ev-Tech Ltd (MERCURYEV)?
Mercury Ev-Tech Ltd reported trailing-twelve-month revenue of about ₹1.2B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of MERCURYEV?
The net profit margin of Mercury Ev-Tech Ltd is about 4.8%, meaning it keeps roughly 4.8% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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