● HIGHEST ever revenue at Rs. 58.3 crore in Q3FY’22 vs Rs.11.85 crore in Q3 FY’21.
● HIGHEST ever EBITDA at Rs. 4.52 crore in Q3FY’22 vs Rs. 86.94 lakh in Q3 FY’21.
● HIGHEST ever PAT at Rs. 2.86 crore in Q3FY’22 vs 74.02 lakh in Q3 FY’21.
● More than 10k units of electric scooters and motorcyles sold in Q3FY’22 vs 1324 units in Q3 FY’21.
Mumbai, January 17th, 2022 (GNI): 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 uptick 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.
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,” stated in the press release.
| Key Highlights of Q3 FY’22 | |
| MOU With Gujarat Goverment | Announces investment of INR500 crores to facilitate the growth of Electric Vehicle Industry creating Electric Vehicle Ancillary Cluster |
| Sales Milestone | Records highest ever sales of units in Dec 2021 |
| Corporate | Inaugurated new Global Headquarters in Vadodara. |
| Marketing | Entered into a collaboration with ‘The Kapil Sharma Show’ to reach the mass audience with the launch of the #BachatOnTheMove campaign |
About Wardwizard Innovations & Mobility Limited is one of the leading auto manufacturing company in the Electric Vehicle (EV) segment under the brand name Joy e-bike. Being the 1st listed entity on BSE in Electric Vehicle manufacturing it’s mainly focused on the growing potential in the India’s EV segment to provide clean and greener alternatives to the existing usage of mobility which is aligned with its philosophy of driving a positive change. Through Joy E-Bikes, the company has been providing a greener alternative to traditional fuel-driven bikes. Its footprints are spread across in excess of 25 major cities across India and aspire to growth this number by length and breath.ends
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