Wardwizard Innovations & Mobility Limited Achieves Impressive Rs. 489.68 Million Revenue In Q1 FY’25

VADODARA: Wardwizard Innovations & Mobility Limited, one of the leading manufacturers of electric vehicles under the brands ‘Joy e-bike’ and ‘Joy e-rik’, today announced its financial results for Q1 of FY’25 (April-June 2024).

Standalone Q1 FY25 Key Financials at a Glance

Particulars (₹ Millions)Q1 FY25Q1 FY24YoY ChangeTotal Revenues489.68378.9329.23%EBITDA76.4847.7660.13%EBITDA (%)15.6212.60302 BpsPAT24.1517.5137.92%PAT (%)4.934.6231 BpsEPS (₹)0.090.0728.57%

Consolidated Q1 FY25 Key Financials at a Glance

Particulars (₹ Lakhs)Q1 FY25Q1 FY24YoY ChangeTotal Revenues514.43378.8335.79%EBITDA74.8945.1765.80%EBITDA (%)14.5611.92264 BpsPAT23.0215.6447.19%PAT (%)4.474.1334 BpsEPS (₹)0.090.0650.00%

Commenting on the performance of Q1 FY’25, Yatin Gupte, Chairman & Managing Director, of WardWizard Innovations and Mobility Ltd. said, “The Q1FY’25 results showcase 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 the Philippines, which is reflective of the growing global demand and trust in 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.”

In a significant development in the 1st quarter, Wardwizard Innovations & Mobility Limited secured a substantial order worth USD 1.29 billion from Beulah International Development Corporation. Beulah International, a prominent full-service business integration company and EPC firm in the Philippines is backed by RP Connect. This strategic order will involve the delivery of electric two-wheelers and three-wheelers from Wardwizard’s existing product portfolio. Additionally, the company will develop and supply four-wheelers for commercial vehicle applications in the Philippine market.

About Author