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