loader2
Login Open ICICI 3-in-1 Account
Text Size
Text to Speech
Color Contrast
Pause Animations
Open ICICI 3-in-1 Account

Wardwizard Innovations & Mobility Results: Latest Quarterly Results & Analysis

Open Free Trading Account Online with ICICIDIRECT
+91
Wardwizard Innovations & Mobility Ltd. 07 Nov 2024 11:15 AM
Result PDF

Q2FY25 Quarterly Result Announced for Wardwizard Innovations & Mobility Ltd.

2/3 Wheelers company Wardwizard Innovations & Mobility announced Q2FY25 results

Standalone Financial Highlights:

  • Total Revenues: Rs 58.32 crore compared to Rs 45.13 crore during Q2FY24, change 29.23%.
  • EBITDA: Rs -1.43 crore compared to Rs 5.86 crore during Q2FY24, change -124.40%.
  • EBITDA Margin: -2.45% for Q2FY25.
  • PAT: Rs -5.96 crore compared to Rs 2.42 crore during Q2FY24, change -346.28%.
  • PAT margin: -10.22% for Q2FY25.
  • EPS: -0.23 for Q2FY25.

Consolidated Financial Highlights:

  • Total Revenues: Rs 58.32 crore compared to Rs 49.16 crore during Q2FY24, change 18.63 %.
  • EBITDA: Rs -1.64 crore compared to Rs 5.99 crore during Q2FY24, change -127.38%.
  • EBITDA Margin: -2.81% for Q2FY25.
  • PAT: Rs -6.22 crore compared to Rs 2.55 crore during Q2FY24, change -343.92%.
  • PAT margin: -10.67% for Q2FY25.
  • EPS: -0.24 for Q2FY25.

Yatin Gupte - Chairman & Managing Director, Wardwizard Innovations & Mobility, said: “In Q2, Wardwizard Innovations delivered notable progress in its growth journey, achieving an impressive 18.6% year-over-year revenue growth. This accomplishment underscores the rising demand for our offerings despite market pressures and heightened competition within the EV sector. Our profits were impacted due to increased marketing initiatives aimed at strengthening brand presence and customer engagement, positioning Wardwizard for long-term growth.

As part of our strategic growth initiatives, we also took a significant step forward by initiating discussions with Royal Highness Prince Abdulaziz Bin Turki Bin Talal Bin Abdulaziz Al Saud for potential international collaboration in the Kingdom of Saudi Arabia. This preliminary step aligns with our vision for global expansion, bringing us closer to our goal of making sustainable mobility accessible across regions.

In October 2024, Wardwizard also commenced dispatches of L-3 three-wheeler rickshaws, marking an exciting expansion of our product lineup. We anticipate scaling up these dispatches in the coming months to meet the growing demand for affordable and sustainable urban mobility.

Looking ahead, our team is focused on launching a new line-up of two-wheeler EVs by the fiscal yearend, designed to meet the evolving needs of eco-conscious consumers. Additionally, we’re advancing strategic alliances to enhance production capacity and support international expansion. These steps reinforce our commitment to innovation and growth, positioning Wardwizard to navigate the dynamic EV landscape and deliver lasting value to our stakeholders.”

Result PDF

Result PDF

2&3 Wheelers company Wardwizard Innovations & Mobility announced Q1FY25 results:

  • Total Revenues: Rs 489.68 million, reflecting a YoY increase of 29.23% compared to Q1FY24 (Rs 378.93 million).
  • EBITDA: Rs 76.48 million, demonstrating a substantial YoY growth of 60.13% from Q1FY24 (Rs 47.76 million).
  • EBITDA Margin: 15.62%, an improvement of 302 basis points from Q1FY24 (12.60%).
  • Profit After Tax (PAT): Rs 24.15 million, up by 37.92% compared to Q1FY24 (Rs 17.51 million).
  • PAT Margin: 4.93%, an increase of 31 basis points from Q1FY24 (4.62%).
  • Earnings Per Share (EPS): Rs 0.09, representing a growth of 28.57% from Q1FY24 (Rs 0.07).

Commenting on the performance of Q1 FY25, Yatin Gupte, Chairman & Managing Director, WardWizard Innovations and Mobility. said, “The Q1FY25 results showcases steady growth for the WardWizard Innovations driven by the increasing demand for electric vehicles in the industry. This quarter was significant for us as we successfully secured a landmark order from Beulah International Development Corporation in Philippines, which is reflective of the growing global demand and trust on our indigenous technologies and products. We are actively expanding our reach into new markets within India and are connecting with a broader customer base. As the festive season approaches, we are confident in further solidifying our position in the EV industry. The government's progressive and forward-thinking Union Budget 2024-25, with the announcement to fully exempt customs duty on critical materials such as rare earth metals including lithium, can further incentivize electric mobility. Wardwizard Innovations remains dedicated to driving sustainable mobility solutions, fostering innovation, and contributing to a greener, more connected world.”

Result PDF

Automobiles company Wardwizard Innovations & Mobility announced standalone Q4FY24 & FY24 results:

FY24 Financial Highlights:

  • Total Revenue: Wardwizard Innovations & Mobility Limited reported total revenues of Rs 31,757.19 lakhs, with a substantial YoY growth of 32.71% from the previous financial year's revenue of Rs 23,928.87 lakhs.
  • EBITDA: The company's EBITDA stood at Rs 3,252.09 lakhs, demonstrating a significant increase from FY23’s EBITDA of Rs 1,956.77 lakhs. This represents an improved EBITDA margin of 10.24%, compared to 8.18% in the previous year.
  • Profit After Tax (PAT): PAT for the fiscal year was Rs 1,415.16 lakhs, increasing by 49.83% compared to FY23's PAT of Rs 944.21 lakhs. There was also a rise in the PAT percentage, from 3.94% to 4.46%.
  • Earnings Per Share (EPS): EPS increased from Rs 0.36 to Rs 0.54.

Q4FY24 Financial Highlights:

  • Total Revenue: The fourth quarter showed total revenues of Rs 12,822.26 lakhs, marking an impressive YoY increase.
  • EBITDA: Q4 EBITDA was reported as Rs 1,038.73 lakhs with an EBITDA margin of 8.10%, experiencing a YoY shift.
  • Profit After Tax (PAT): PAT for the quarter reached Rs 427.89 lakhs, and the PAT percentage showed a positive change.
  • Earnings Per Share (EPS): EPS for Q4 was recorded at Rs 0.16.

Commenting on the performance of FY’24, Yatin Sanjay Gupte, Chairman & Managing Director, Wardwizard Innovations & Mobility said, “FY24 has been a year of strengthening our position in the market while driving innovations and celebrating new accomplishments. In the last financial year, we achieved the sales milestone of 1 lakh electric two-wheelers (since inception) which shows the trust of the customers on the brand. We are dedicated to lead the way towards a sustainable future with new innovations and developments. Our recent unveiling of a ground-breaking hydrogen-powered e-scooter prototype followed by our strategic partnership with global players for technology advancements. In FY25, we shall be working effectively in enhancing our portfolio, expanding our presence as well as strengthen our R&D capabilities. We are further expected to launch more models of electric vehicles and poised for even greater innovation and growth. Our efforts will continue to pave the way for next-generation technologies, ensuring our position at the forefront of the industry."

 

Result PDF

Auto components firm Wardwizard Innovations & Mobility announced Q3FY23 results:

  • Consolidated Q3FY23 & 9MFY23:
    • EBITDA for 9MFY23 at Rs 14.44 crore; a 71.82% YoY growth.
    • PAT for 9MFY23 at Rs 7.92 crore; a 52.31% YoY growth.
    • Total revenue at Rs 69.82 crore in Q3FY23 vs Rs 58.30 crore in Q3FY22.
    • PAT at Rs 3.36 crore in Q3FY23 vs Rs 2.87 crore in Q3FY22.
    • EBITDA at Rs 6.20 crore in Q3FY23 vs Rs 4.52 crore in Q3FY22.
    • Sold 13,778 units of electric two-wheelers in Q3FY23 vs 10,005 units in Q3FY22.

Commenting on the performance of Q3FY23, Mr. Yatin Gupte, Chairman & Managing Director, of Wardwizard Innovations & Mobility Ltd. Said, “We are quite delighted by the increasing demand of showcasing the steady shift towards electric mobility. Our robust product portfolio and consistent result-oriented efforts to increase our market share in the EV Space have supported to achieve another sales milestone in this quarter. We are leading this change from the forefront and the strong performance bears testimony to the trust of our buyers. We have received a great response for our new electric two-wheelers MIHOS at the Auto Expo 2023, further transitioning into bookings. Seeing the current market momentum and our new product launches, particularly electric two-wheelers, we are confident of achieving new milestones.”

Result PDF

Auto components company Wardwizard Innovations & Mobility announced Q2FY23 results:

  • H1FY23:
    • Highest ever revenue at Rs.118.69 crore in H1FY23 vs Rs. 45.05 crore in H1FY22.
    • Sold 16,715 units of electric two-wheelers in H1FY23 VS 7,335 in H1FY22
    • PAT at Rs. 4.56 crore in H1FY23 vs Rs. 2.33 crore in H1FY22
    • EBITDA at Rs. 8.24 crores in H1FY23 vs Rs. 3.89 crores in H1FY22
  • Q2FY23:
    • Highest ever revenue at Rs. 63.97 crore in Q2FY23 vs Rs 33.51 crores in Q2FY22
    • Sold 8,448 units of electric two-wheelers in Q2FY23 vs 5,446 units in Q2FY22
    • PAT at Rs.2.5 crores in Q2FY23 vs Rs. 1.61 crores in Q2FY22
    • EBITDA at Rs. 4.59 crore VS Rs. 2.80 crore in Q2FY22

Commenting on the performance of Q2 FY’22, Mr Yatin Gupte – Chairman & Managing Director said “The landscape of the automobile industry in India is changing steadily and shifting towards the adoption of electric mobility. This shift is being noticed not only in the urban areas, but in semi-urban cities as well. A significant factor driving this shift towards e-mobility are high fuel prices. With our robust product portfolio and strong presence, we are leading this change from the forefront and the strong performance bears testimony to the trust of our buyers. At the onset of this festival season with healthy demand in the market, we have achieved the highest-ever revenue in this quarter as well as in the half year of FY’23. Solidifying our presence, we have expanded our footprints in the national as well as global markets. Seeing the current market momentum and the growing demand for electric vehicles, particularly electric two-wheelers, we are confident of achieving new milestones.

 

Result PDF

Auto components manufacturer Wardwizard Innovations & Mobility announced Q1FY23 results:

  • Revenue stands at Rs 547.2 million in Q1 of FY23, as against Rs 115.2 million in Q1FY22
  • Sells more than 8k (8,267) units of electric two-wheelers in Q1FY23 v/s 1,889 in Q1FY22
  • Profit After Tax (PAT) stands at Rs 20.59 million in Q1FY23 v/s. Rs 7.07 million in Q1FY22. The growth in PAT crossed more than 191.4 %
  • Earnings Before Interest, Tax, Depreciation, & Amortization (EBITDA) stands at Rs 36.46 million in Q1FY23, as against Rs 10.89 million in Q1FY22. Witnessing a growth of 234.7% in the quarter.

Ms. Sneha Shouche, Chief Financial Officer- Wardwizard Innovations & Mobility Ltd said “With the demand for green mobility increasing, we are observing a positive sales momentum in our entire range of products across markets. As electric vehicles, especially two-wheelers are becoming a part of every household, we are expecting fast pace growth of the industry in the coming quarters. We are committed to revolutionizing mobility across India, and we haven't stopped irrespective of the supply chain constraints. With our multi-vendor strategy, we were able to meet the market demand and begin with the production and deliveries of our newly introduced high-speed electric scooters. As the company is working on the holistic development of the industry, we are focussing on strengthening our EV ancillary with the right partners to bring a prominent solution for the availability of essential raw material and start developing the Li-ion cells in India from next financial year. We are further investing-in R&D— to foster newer segments and diversify our product category and solidify our presence with new touchpoints. With the festive season around the corner, we are expecting a steady sales performance and drive profitable growth.”

 

Result PDF

Wardwizard Innovations & Mobility announced Q4FY22 results:

  • Q4FY22:
    • Revenue Stands at Rs 815 million, up 347% YoY
    • EBIDTA Stands at Rs 61 million, up 279% YoY
    • PAT stands at Rs 33 mn, up 374% YoY
    • EPS Stands at Rs 0.14 
  • FY22:
    • Revenue Stands at Rs. 1,851 million, up 369% YoY
    • EBIDTA Stands at Rs. 145 million, up 365% YoY
    • PAT stands at Rs. 85 million, up 353% YoY
    • EPS Stands at Rs. 0.35

Commenting on the results for FY’22, Mr. Yatin Gupte, Managing Director, said, “We are quite excited as the company has managed to cross a milestone of Rs 1851 mn in the top line. This has been achieved through relentless working of our entire team with a strong focus on R&D to ensure that our product provides better cost saving alternative. The company will continue to invest in R&D, diversify its product line, and increase its market presence in FY23. With fuel prices at an all-time high, we're seeing yet another rapid shift toward electric two-wheelers, and we are certain that we will set a new sales record. We shall strive to improve these going forward as well. We aim to further adopt new technologies and provide integrated e-mobility solutions to our consumers and the connected generation. As communicated earlier, we continue to take steps to improve our business model and help mitigate potential risks that our business could face. The continuous improvement in demand from our customers for our products enable us to improve our margin profile. We are happy to inform you all that the pilot project for our new products was successful and we have informally received orders from them. Our attempt now shall be to generate increased revenues from our new product launches, without incrementally straining our balance sheet. We shall continue to pursue all such efforts to increase the company’s operational efficiency and revenues.”

 

Result PDF

EV Manufacturing company Wardwizard Innovations & Mobility Ltd declares Q3FY22 result :

  • Wardwizard Innovations & Mobility Ltd registers Preeminent Revenue growth of 392% YoY in Q3 FY’22
  • Revenue Growth of 73.7% QoQ in Q3 FY’22
  • Sales Crossed more than 10k unit in Q3 FY’22
  • Highest ever revenue at Rs. 58.3 crore in Q3FY’22 vs Rs.11.85 crore in Q3 FY’21.
  • Highest ever EBITDA at Rs. 4.52 crore in Q3FY’22 vs Rs. 86.94 lakh in Q3 FY’21.
  • Highest ever PAT at Rs. 2.86 crore in Q3FY’22 vs 74.02 lakh in Q3 FY’21.
  • More than 10k units of electric scooters and motorcyles sold in Q3FY’22 vs 1324 units in Q3 FY’21.

Commenting on the performance of Q3 FY’22, Ms. Sneha Shouche, Chief Financial OfficerWardwizard Innovations & Mobility Ltd said “Encouraged by the green mobility revolution in the country, EVs are becoming the preferred mobility solution for many new riders. As people are showing an inclination towards electric two-wheelers to meet their mobility needs, we are observing an uptick in demand across all our touchpoints.

The supply chain is under immense pressure with the growing demand for electric vehicles, especially two-wheelers. To meet this demand, we are further investing in instituting first its kind EV Ancillary in India which will be based in Vadodara, Gujarat. The investment would help in accelerating growth in the segment and boost the ‘Make-in-India’ vision while promoting local vendors during this electric mobility revolution. ”

 

 

 

Result PDF

Financial Result

  • Highest ever revenue at Rs. 45.05 crore in Half Year FY’22 vs Rs.10.42 crore in Half Year FY’21.
  • Highest ever EBITDA at Rs. 3.89 crore in Half Year FY’22 vs Rs. 64.12 lakh in Half Year FY’21.
  • Highest ever PAT at Rs. 2.33 crore in Half Year FY’22 vs 43.93 lakh in Half Year FY’21.
  • More than 7k units of electric scooters and motorcyles sold in Half Year FY’22 vs 1677 units in Half Year FY’21
  • Highest ever revenue at Rs. 33.51 crore in Q2FY’22 vs Rs.6.90 crore in Q2 FY’21.
  • Highest ever EBITDA at Rs. 2.80 crore in Q2FY’22 vs Rs. 40.37 lakh in Q2 FY’21.
  • Highest ever PAT at Rs. 1.61 crore in Q2FY’22 vs 27.98 lakh in Q2 FY’21.
  • More than 5k units of electric scooters and motorcyles sold in Q2FY’22 vs 664 units in Q2 FY’21
  • Clocking the Highest ever numbers in this quarter, the company clocked a revenue of more than Rs. 33.51 crore in Q2 FY’22 compared to Rs.6.90 crore in Q2 FY’21, observing a growth of more than 386%. The half yearly revenue of this financial year stands at Rs. 45.04 crore (vs Rs.10.41 crore in FY’21), achieving a growth of 332%.
  • Riding on the sales of more than 5k electric two-wheelers, the company reported Profit Before Tax (PBT)of Rs.2.35 crore & Profit After Tax (PAT) 1.61 crore in Q2 FY’22 (vs Rs. 28 lakh Profit Before Tax (PBT) & Profit After Tax (PAT) in Q2 FY’21), a growth of 739% & 475% over the same period previous year.
  • Observing an uprick in demand for electric two wheelers across the country majorly driven by low speed models, the company has achieved a sales mark of 5,482 units in this quarter, registering a growth of more than 726% compared to the Q2 of FY 2020-21, where the sales stood at 664 units.

Commenting on the performance of Q2 FY’22, Ms. Sneha Shouche, Chief Financial OfficerWardwizard Innovations & Mobility Ltd said “In comparision to annual figures of FY21, Wardwizard has already achieved the previous year’s figures in half year of FY22. As people are inclining towards electric two-wheelers to meet their mobility needs, we are observing high traction across all our touch points. With multiple factors like high fuel process and more push from the various authorities, electric vehicles are becoming the first choice of the users in many states. We are further observing high booking and inquiries in this festival season and confident of achieving another substantial growth in the remaining quarters of this financial year. Also, with the opening of our new experience centers and the expansion of our annual production capacity, the company is looking to serve more customers in both urban and semi-urban locations.”

 

Result PDF

Trending News

Nestle India adds 20,500 tonnes of Maggi capacity at Sanand facility

Nestle India has announced addition of 20,500 tonnes/annum of Maggi capacity at Sanand facility. 

Published on 02-Apr-2026 09:19

Power Grid wins transmission project for 2.7 GW of renewable energy capacity at Tumkur-II, Karnataka

Power Grid Corporation of India Limited (POWERGRID) has been declared the successful bidder under Tariff-Based Competitive Bidding (TBCB) for a transmission project aimed at integrating 2.7 GW of additional renewable energy capacity at Tumkur-II, Karnataka. 

Published on 02-Apr-2026 09:18

Tata Power resumes operations at 4,150 MW Mundra thermal power plant

Tata Power Company Limited has resumed operations at its 4,150 MW Mundra thermal power plant in Gujarat from April 1, 2026, after a nine-month shutdown. 

Published on 02-Apr-2026 09:17

Indian Bank's gross advances grow 13.6% YoY to ₹6,680 lakh crore

Indian Bank reported steady business growth in Q4FY26 (provisional), with gross advances rising to ₹6.68 lakh crore, up 13.6% YoY (4.5% QoQ). 

Published on 02-Apr-2026 09:16

South Indian Bank's gross advances grow 15.7% YoY to ₹101,295 crore

South Indian Bank reported steady business growth in Q4FY26 (provisional), with gross advances rising to ₹1,01,295 crore, up 15.7% YoY (4.7% QoQ). 

Published on 02-Apr-2026 09:15

Karnataka Bank's gross advances grow 6.9% YoY to ₹83,336.9 crore

Karnataka Bank reported healthy sequential business growth in Q4FY26 (provisional), with gross advances rising to ₹83,336.9 crore, up 6.9% YoY (7.8% QoQ). 

Published on 02-Apr-2026 09:14

Disclaimer – I ICICI Securities Ltd. ( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is acting as a distributor to solicit bond related products. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Investments in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein mentioned are solely for informational and educational purpose.
Download App

Download Our App

Get it on google Play Store Download on the App Store
market app