Wardwizard Innovations & Mobility Limited, a prominent manufacturer of electric vehicles under the brands ‘Joy e-bike’ and ‘Joy e-rik,’ announced robust financial results for FY’2024 and Q4 of FY’24.
Key Financial Highlights for FY’24:
- Standalone Basis:
- Total Revenues: Rs 31757.19 Lakhs (YoY growth of 32.71%)
- EBITDA: Rs 3252.09 Lakhs
- EBITDA Margin: 10.24%
- PAT: Rs 1415.16 Lakhs
- Consolidated Basis:
- Total Revenues: Rs 32162.98 Lakhs (YoY growth of 34.38%)
- EBITDA: Rs 3180.44 Lakhs
- EBITDA Margin: 9.89%
- PAT: Rs 1343.51 Lakhs
Key Financial Highlights for Q4 FY’24:
- Standalone Basis:
- Total Revenues: Rs 12822.26 Lakhs
- EBITDA: Rs 1038.73 Lakhs
- PAT: Rs 427.89 Lakhs
- Consolidated Basis:
- Total Revenues: Rs 12825.96 Lakhs
- EBITDA: Rs 1008.23 Lakhs
- PAT: Rs 397.40 Lakhs
Commenting on the performance, Mr. Yatin Sanjay Gupte, Chairman & Managing Director, Wardwizard Innovations & Mobility Limited, expressed satisfaction with the achievements in FY’24. He highlighted the company’s sales milestone, the unveiling of a hydrogen-powered e-scooter prototype, and strategic partnerships for technology advancements. Looking ahead to FY’25, Mr. Gupte emphasized plans to enhance the company’s portfolio, expand its presence, and strengthen R&D capabilities, aiming for greater innovation and growth.
Key Highlights of FY’24:
- Sales Milestone: ‘Joy e-bike’ rolled out its 100,000th unit of electric two-wheelers.
- New Assembly Line Facility: Inaugurated a new assembly line facility for electric two-wheelers in Deoghar, Jharkhand.
- Commencement of Deliveries: Started deliveries of electric two-wheeler MIHOS and electric three-wheeler Joy e-rik.
- Unveiling of Hydrogen-powered Electric Scooter: Unveiled the concept of its first hydrogen-powered electric two-wheeler at Bharat Mobility Global Expo 2024.
- Distribution Network Expansion: Established 150 ‘Distributor Showrooms’ at the district level to strengthen the distribution network.
- MoU with Gujarat Govt: Signed a MoU with the Government of Gujarat to invest Rs 2,000 crores in the development of an Electric Vehicle Ancillary Cluster by 2024.
- Global Partnerships: Signed MoUs with US-based Triton EV and BEEAH Group – Sharjah, UAE, for electric vehicle manufacturing and promoting sustainable environmental practices.
