Wardwizard Innovations & Mobility Ltd records Highest Ever Revenue growth of 332% in the Half Year FY’22

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Wardwizard Innovations & Mobility Limited

Half Yearly Financial Results Wardwizard Innovations

  • 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 motorcycles sold in Half Year FY’22 vs 1677 units in Half Year FY’21

Quarterly Financial Results

  • 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 motorcycles sold in Q2FY’22 vs 664 units in Q2 FY’21

Vadodara, October 27, 2021: Wardwizard Innovations and Mobility Ltd (BSE Code: 538970), one of the leading manufacturers of electric two-wheeler ‘Joy E-bike’, announced its financial results for the second quarter (July- September 2021) of FY’22.

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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 the previous year. 

Observing an uptick 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 Officer- Wardwizard Innovations & Mobility Ltd said “In comparison to annual figures of FY21, Wardwizard has already achieved the previous year’s figures in half the time in FY22. As people’s inclination towards electric two-wheelers as a preferred mode of mobility is increasing, we are observing high traction across all our touchpoints. With multiple factors like high fuel prices and more push from the various authorities, electric vehicles are becoming the first choice of users in many states. We are further observing high booking and inquiries during the festival season and we are confident of achieving further 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.”

Key Highlights of Q2 FY’22
New Automatic Assembly LineAnnounced expansion of annual production capacity from one lakh units to two lakh units in a single shift with the new automatic assembly line at Vadodara manufacturing plant from October 2021. 
Network ExpansionAnnounced to expand its touchpoints from 400 at present to 750 by the end of this financial year. Entered Assam market with two exclusive dealerships in GuwahatiInaugurated 20 new dealerships in Gujarat
Sales MilestoneRecords highest ever sales of 2,500 units in September 2021
Connected MobilityLaunched ‘JOY E-CONNECT’, a cloud-based mobile application for the customers with the new era of technology to enhance their overall riding experience.

About Wardwizard Innovations & Mobility Limited:

Wardwizard Innovations & Mobility Ltd is one of the leading auto manufacturing companies in the Electric Vehicle (EV) segment under the brand name Joy e-bike. It also addressed the home appliance market via its brand Vyom Innovation. Being the 1st listed entity on BSE in Electric Vehicle manufacturing it’s mainly focused on the growth potential in India’s EV segment to provide clean and greener alternatives to the existing usage of mobility which is aligned with its philosophy of driving a positive change. Through Joy E-Bikes, the company has been providing a greener alternative to traditional fuel-driven bikes. are also aimed towards a greener ecosystem. Its footprints are spread across in excess of 25 major cities across India and aspire to grow this number by length and breadth. 

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Frequently Asked Questions

Contact Details 

For Investor Query Ms. Sneha ShoucheED & CFOWardWizard Innovations & Mobility LtdEmail: Cfo@wardwizard.inFor Investor Query Sherwin FernandesAnalystKFin Technologies Private LtdEmail: Sherwin.fernandes@kfintech.comPhone: +91-9833456546For Further Information 
Mr. Amit Jha: (+91) 85888 02820; Email Id – wardwizard@adfactorspr.com

Note: Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other risk factors, viewers are cautioned not to place undue reliance on these forward-looking statements. WardWizard Innovations & Mobility Ltd. will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

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