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Wardwizard Innovations & Mobility Ltd announces Q3FY22 results

Posted On : 2022-01-17 21:34:56( TIMEZONE : IST )

Wardwizard Innovations & Mobility Ltd announces Q3FY22 results

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 third quarter (October - December 2021) of FY'22.

Clocking the highest ever numbers in this quarter, the company clocked a revenue of more than Rs. 58.3 crore in Q3 FY'22 compared to Rs.11.85 crore in Q3 FY'21, observing a growth of more than 392%.

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 10,005 units in this quarter, registering a growth of more than 656% compared to the Q3 of FY 2020-21, where the sales stood at 1324 units.

The company has reported highest ever EBITDA at Rs. 4.52 crore in Q3FY'22 vs Rs. 86.94 lakh in Q3 FY'21 and highest ever PAT of Rs. 2.86 crore in Q3FY'22 vs 74.02 lakh in Q3 FY'21.

Commenting on the performance of Q3 FY'22, Ms. Sneha Shouche, Chief Financial Officer Wardwizard 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."

Shares of Wardwizard Innovations & Mobility Ltd was last trading in BSE at Rs. 97.40 as compared to the previous close of Rs. 94.35. The total number of shares traded during the day was 5790710 in over 14660 trades.

The stock hit an intraday high of Rs. 101.00 and intraday low of 95.00. The net turnover during the day was Rs. 565082565.00.

Source : Equity Bulls


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