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.”