Wardwizard Innovations & Mobility Limited, a prominent player in the electric vehicle sector under the brands ‘Joy e-bike’ and ‘Joy e-rik,’ has announced a notable financial performance for Q1 FY’25 (April-June 2024). The company’s standalone revenue reached ₹489.68 million, marking a robust 29.23% increase compared to the previous year.
Q1 FY’25 Financial Highlights:
- Total Revenues: ₹489.68 million, up 29.23% from ₹378.93 million in Q1 FY’24.
- EBITDA: ₹76.48 million, representing a 60.13% rise from ₹47.76 million in Q1 FY’24.
- EBITDA Margin: 15.62%, an increase of 302 basis points from the previous year.
- PAT: ₹24.15 million, showing a 37.92% growth from ₹17.51 million in Q1 FY’24.
- EPS: ₹0.09, up 28.57% from ₹0.07 in Q1 FY’24.
Consolidated Q1 FY’25 Financial Overview:
- Total Revenues: ₹514.43 million, a 35.79% increase from ₹378.83 million in Q1 FY’24.
- EBITDA: ₹74.89 million, up 65.80% from ₹45.17 million in Q1 FY’24.
- EBITDA Margin: 14.56%, a rise of 264 basis points from the previous year.
- PAT: ₹23.02 million, reflecting a 47.19% increase from ₹15.64 million in Q1 FY’24.
- EPS: ₹0.09, up 50.00% from ₹0.06 in Q1 FY’24.
Mr. Yatin Gupte, Chairman & Managing Director of Wardwizard Innovations & Mobility Limited, commented, “The Q1 FY’25 results demonstrate steady growth driven by the rising demand for electric vehicles. Securing a landmark order from Beulah International Development Corporation in the Philippines highlights our expanding global footprint and the trust in our innovative technologies. As we approach the festive season, we are optimistic about strengthening our market position further. The recent Union Budget 2024-25’s move to exempt customs duty on key materials like lithium will likely boost electric mobility. We remain committed to advancing sustainable mobility solutions and contributing to a greener future.”
A key milestone in Q1 was securing a significant order valued at USD 1.29 billion from Beulah International Development Corporation, a major player in the Philippines’ EV sector. This order encompasses the delivery of electric two-wheelers, three-wheelers, and the development of four-wheelers for commercial applications.
