Mercury Laboratories Ltd (MERCURYLAB)

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Mercury Laboratories Ltd (MERCURYLAB) · mywealthgrid

About

Mercury Laboratories Ltd operates in Pharmaceuticals within the Healthcare sector.

Face value: ₹10

Market cap

₹90 Cr

P/E

16.8×

P/B

1.5×

Dividend yield

0.5%

ROE

8.7%

ROCE

12%

Debt / equity

0.13

OPM

11.9%

EPS (TTM)

₹44.5

Book value

₹484.0

52-week high

—

52-week low

—

1,999 historical price candles were omitted because the exchange source has not been verified.

₹748.0-1.6%1Y

Quick read

rule-based

Pros

+Comfortable interest coverage of 14×
+High promoter holding of 73.7% with no pledge

Cons

−Low return on equity of 8.8% (3-yr avg)
−Profit declined 2% a year over the last 5 years
−Modest revenue growth of 2.1% a year over the last 5 years
−Low dividend payout of 7.9% of profit

Research score

Structured signal from quality, growth, valuation and momentum.

54/100

Business quality: 50
Growth: 34
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Torrent Pharmaceuticals LimitedTORNTPHARMTORNTPHARM	₹1,61,325 Cr	₹1,76,123 Cr	₹15,723 Cr	₹5,191 Cr	32.6%	₹2,181 Cr	15.3%	14.5%	27.1%	163
Zydus Lifesciences LimitedZYDUSLIFEZYDUSLIFE	₹1,14,284 Cr	₹1,26,053 Cr	₹28,592 Cr	₹8,316 Cr	31.2%	₹4,513 Cr	18.9%	23.4%	19.7%	212
Laurus Labs LimitedLAURUSLABSLAURUSLABS	₹1,07,176 Cr	₹1,09,573 Cr	₹7,270 Cr	₹2,034 Cr	26.1%	₹1,093 Cr	13.1%	21.3%	18.2%	263
Mankind Pharma LimitedMANKINDMANKIND	₹1,04,696 Cr	₹1,11,007 Cr	₹14,738 Cr	₹3,827 Cr	25.3%	₹2,068 Cr	13.6%	14.2%	12.5%	117
Aurobindo Pharma LimitedAUROPHARMAAUROPHARMA	₹97,389 Cr	₹1,05,065 Cr	₹34,935 Cr	₹7,085 Cr	20.3%	₹3,713 Cr	10.4%	14.7%	9.9%	252
Lupin LimitedLUPINLUPIN	₹92,866 Cr	₹98,777 Cr	₹29,967 Cr	₹9,538 Cr	31.5%	₹5,529 Cr	19.2%	34.2%	26.9%	181
Glenmark Pharmaceuticals LimitedGLENMARKGLENMARK	₹65,781 Cr	₹65,781 Cr	₹17,737 Cr	₹4,797 Cr	26.9%	₹1,496 Cr	8%	37.8%	0%	83
Alkem Laboratories LimitedALKEMALKEM	₹62,431 Cr	₹64,055 Cr	₹15,081 Cr	₹3,032 Cr	20.4%	₹2,158 Cr	16%	21.5%	17.8%	152
Biocon LimitedBIOCONBIOCON	₹60,413 Cr	₹75,238 Cr	₹17,321 Cr	₹3,536 Cr	20.4%	₹495 Cr	2.2%	3.9%	1.4%	85
Abbott India LimitedABBOTINDIAABBOTINDIA	₹56,901 Cr	—	₹4,310 Cr	₹921 Cr	27.3%	₹691 Cr	22.4%	44.1%	34.5%	110
Ipca Laboratories LimitedIPCALABIPCALAB	₹49,299 Cr	₹50,003 Cr	₹10,126 Cr	₹2,232 Cr	20.5%	₹1,310 Cr	12.3%	17.8%	15.2%	308
Gland Pharma LimitedGLANDGLAND	₹47,428 Cr	₹47,671 Cr	₹6,725 Cr	₹1,751 Cr	25.3%	₹1,129 Cr	16%	14.8%	10.5%	255

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	48	48	52	56	57	69	58	75	76	75	76
COGS	-20	-20	-24	-26	-26	31	24	30	30	29	30
Gross profit	—	—	—	—	—	37	34	45	45	46	46
	63	63	71	76	77	28	27	36	36	39	37
	5	6	4	6	6	10	7	9	9	7	9
OPM %	11.2%	12%	8.4%	10.3%	10.7%	14%	12.1%	11.4%	12%	9.4%	11.9%
Depreciation	—	—	1	2	2	2	2	2	3	3	3
Interest	1	—	1	1	1	1	0	0	0	1	1
	1	0	0	1	1	1	1	2	1	1	2
Profit before tax	5	5	2	4	4	8	5	7	7	5	7
Tax	1	2	0	1	1	3	1	2	1	2	2
Tax %	20.7%	44.8%	17.9%	30.1%	25.4%	32.5%	29.2%	25.5%	18.4%	32.6%	27.1%
	4	3	2	3	3	5	4	6	6	3	5
PAT margin %	8.3%	5.6%	3.9%	5.1%	5.6%	7.8%	6.2%	7.4%	7.5%	4.2%	6.4%
EPS (₹)	32.7	22.5	16.8	23.6	26.9	44.5	29.7	46.5	—	—	40.3
EPS adjusted (₹)	—	—	—	—	26.9	44.5	29.7	46.5	47.1	26.2	40.3
	0%	6.7%	8.9%	6.3%	7.4%	7.9%	11.8%	7.5%	—	—	8.7%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	1	1	1	1	1	1	1
Reserves	—	36	39	44	50	52	57
	—	6	6	6	5	4	7
	—	22	16	16	12	17	14
Total equity & liabilities	—	65	62	68	68	74	79
	24	26	26	24	24	25	24
CWIP	—	0	0	0	4	9	10
Investments	—	0	0	0	0	0	0
	—	39	37	43	40	40	45
Total assets	—	65	62	68	68	74	79

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	54.6%	59.2%	59.6%	59.9%	61.5%	61.1%
EBITDA margin %	10.3%	10.7%	14%	12.1%	11.4%	12%	9.4%	11.9%
EBIT margin %	7.4%	7.5%	11.2%	7.8%	8.1%	8.2%	5.5%	7.4%
PAT margin %	5.1%	5.6%	7.8%	6.2%	7.4%	7.5%	4.2%	6.4%
Working capital
Receivable days	—	—	120	105	104	106	125	124
Inventory days	—	—	60	105	83	75	91	88
Payable days	—	—	138	106	77	62	124	77
NWC days	—	—	42	104	110	118	92	135
Leverage
Current ratio	—	—	2.01	2.24	2.54	3.08	2.66	3.85
Debt to EBITDA	—	—	0.65	0.86	0.68	0.61	0.58	0.82
Debt to equity	—	—	0.17	0.15	0.13	0.11	0.08	0.13
Interest coverage	4.7	6.3	13.4	11.9	21.7	19.2	9.5	14
Asset turnover	—	—	1.05	0.93	1.11	1.11	1.01	0.96
Return ratios
Return on assets %	—	—	8.2%	5.7%	8.3%	8.3%	4.2%	6.1%
Return on capital employed %	—	—	18.4%	11.5%	15.9%	13.8%	9.1%	12%
Return on equity %	—	—	14.5%	8.8%	12.2%	11.1%	5.9%	8.3%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.66%	73.66%	73.66%	73.66%	73.66%	73.66%	73.66%	73.66%	73.66%	73.66%	73.66%	73.66%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	26.34%	26.34%	26.34%	26.34%	26.34%	26.34%	26.34%	26.34%	26.34%	26.34%	26.34%	26.34%
No. of shareholders	—	—	—	—	—	—	—	—	1,365	1,321	1,316	1,328

Promoter holding up 0 percentage points since Sep 2023.

2 deals · 29 May 2023 – 29 May 2023

Date	Client	Type	Venue	Side	Quantity	Price	Value
29 May 2023	KETAN BABULAL SHAH	Bulk	BSE	Sell	9,630	₹953.65	₹0.92 Cr
29 May 2023	SHAH SHARAD KANAYALAL	Bulk	BSE	Buy	8,100	₹953.60	₹0.77 Cr

1–2 of 2

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Sanjay Shantilal PatelNon-Executive - Independent Director-Chairperson
Mr. Rajendra Ramanlal ShahExecutive Director-MD
Mr. Dilip Ramanlal ShahNon-Executive - Non Independent Director
Mr. Ashish VasavadaChief Financial Officer
Mr. Paresh Jagdishbhai MistryNon-Executive - Non Independent Director
Mr. Jayantilal RavalNon-Executive - Independent Director
Mrs. Janki Rajendra ShahNon-Executive - Non Independent Director
Ms. Krishna ShahCompany Secretary cum Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Mercury Laboratories Ltd. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

16 announcementsExport CSV

30 Sept 2026, 7:34 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Directorate

Change in Directorate PDF

30 Sept 2026, 6:19 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

28 Sept 2026, 12:37 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

3 Sept 2026, 6:19 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

2 Sept 2026, 10:27 amCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

1 Sept 2026, 5:44 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

1 Sept 2026, 5:36 pmAGM/EGM

Submission Of Notice Of The 45Th Annual General Meeting Of The Company

AGM PDF

27 Aug 2026, 12:29 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

Date	Category	Subject	Filing
30 Sept 2026, 7:34 pm	Company Update Change in Directorate	Announcement under Regulation 30 (LODR)-Change in Directorate	PDF
30 Sept 2026, 6:19 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	54.6%	59.2%	59.6%	59.9%	61.5%	61.1%
EBITDA margin %	10.3%	10.7%	14%	12.1%	11.4%	12%	9.4%	11.9%
EBIT margin %	7.4%	7.5%	11.2%	7.8%	8.1%	8.2%	5.5%	7.4%
PAT margin %	5.1%	5.6%	7.8%	6.2%	7.4%	7.5%	4.2%	6.4%
Working capital
Receivable days	—	—	120	105	104	106	125	124
Inventory days	—	—	60	105	83	75	91	88
Payable days	—	—	138	106	77	62	124	77
NWC days	—	—	42	104	110	118	92	135
Leverage
Current ratio	—	—	2.01	2.24	2.54	3.08	2.66	3.85
Debt to EBITDA	—	—	0.65	0.86	0.68	0.61	0.58	0.82
Debt to equity	—	—	0.17	0.15	0.13	0.11	0.08	0.13
Interest coverage	4.7	6.3	13.4	11.9	21.7	19.2	9.5	14
Asset turnover	—	—	1.05	0.93	1.11	1.11	1.01	0.96
Return ratios
Return on assets %	—	—	8.2%	5.7%	8.3%	8.3%	4.2%	6.1%
Return on capital employed %	—	—	18.4%	11.5%	15.9%	13.8%	9.1%	12%
Return on equity %	—	—	14.5%	8.8%	12.2%	11.1%	5.9%	8.3%

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	8	5	2	8	4	4
	-5	-2	-1	-6	-9	-3
	-1	-1	-1	-1	-1	3
Net cash flow	2	2	0	1	-6	4
Free cash flow	4	3	1	2	-5	1
CFO / Operating profit %	85.6%	74.3%	28.6%	91.1%	57%	46.9%

Mercury Laboratories Ltd

About

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

12

1

Compounded sales growth

Compounded profit growth

Return on equity

Mercury Laboratories Ltd

About

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

Dividends12

Board meetings1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

12

1