Mercury Ev-Tech Ltd. (MERCURYEV.BO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-932.7%

-₹269.72

vs ₹32.39 price

Levered DCF

-₹370.08

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

5.6

Safe zone

Rating

D+

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	101.64×	147.68×	763.36×	1,388.49×	894.42×	-2,369.32×	-536.65×	-631.35×
P/B	1.61×	4.15×	18.27×	35.83×	154.27×	186.34×	58.34×	55.97×
P/S	4.37×	12.83×	66.93×	111.26×	170.8×	181.75×	0×	90.87×
EV / EBITDA	41.63×	99.39×	447.47×	1,089.28×	658.22×	-6,427.61×	-13,448.71×	15,984,915.09×
Gross margin	27.5%	21.5%	28.1%	22.5%	27.8%	0.5%	0.0%	-4.9%
Operating margin	2.5%	8.3%	11.8%	9.8%	30.2%	-10.5%	0.0%	-6.4%
Net margin	4.3%	8.6%	9.0%	8.0%	18.9%	-7.7%	0.0%	-14.6%
Current ratio	4.49×	7.2×	4.25×	8.52×	8.48×	156.24×	80.54×	50.36×
Debt / equity	0.09×	0.02×	0.69×	0.46×	0×	0×	0×	0×
Interest coverage	2.73×	8.53×	12.59×	72.86×	0×	0×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	1.6%	2.8%	2.5%	2.6%	17.1%	-7.9%	-10.7%	-9.0%
Return on invested capital	0.5%	1.9%	1.3%	1.9%	20.0%	-10.7%	-11.1%	-3.9%
Return on assets	1.2%	2.3%	1.3%	1.7%	15.6%	-7.8%	-10.6%	-8.8%
Free cash flow yield	-12.4%	-5.8%	-2.6%	-3.1%	-0.2%	0.5%	-0.0%	-0.0%
Earnings yield	1.0%	0.7%	0.1%	0.1%	0.1%	-0.0%	-0.2%	-0.2%
Enterprise value	₹4.7B	₹11.5B	₹15.3B	₹18B	₹2.1B	₹2.1B	₹703.7M	₹751.3M
Net debt / EBITDA	1.73×	-0.05×	15.99×	8.36×	-2.38×	33.13×	6.77×	-11,822.15×
Cash conversion cycle (days)	522	480	806	376	122	1	-943,874	-319