Wardwizard Innovations & Mobility Limited , a leading electric vehicle (EV) manufacturer, has reported its financial results for the first quarter, showcasing strategic progress despite a modest start to the year.

Financial Performance

For Q1, Wardwizard reported revenue from operations of ₹32.27 crores, down from ₹51.41 crores in the same quarter last year. The company achieved an EBITDA margin of 23.44% and a net profit of ₹1.12 crores with a 3.03% margin.

Sales and Product Updates

During the quarter, Wardwizard sold 2,592 electric two-wheelers and 11 three-wheelers. The company received a significant order from SpeedforceEV for 2,500 units of its Wolf+ electric scooter model, strengthening its position in the fleet segment.

Strategic Partnerships and Expansion

Wardwizard has entered into several strategic partnerships to enhance its market presence and technological capabilities:

• XiCon International Partnership: A memorandum of understanding (MoU) was signed with XiCon International to lease 7,500 electric scooters over two years, focusing on last-mile delivery efficiency in major cities.

• Fleet Operations Model: The company deployed 100 electric vehicles in Hyderabad through its innovative fleet operations model, offering end-to-end support including maintenance, charging infrastructure, and insurance.

• Ampvolts Limited Collaboration: A partnership was formed with Ampvolts Limited to develop advanced EV charging infrastructure in India and abroad.

• C4V Partnership: Wardwizard entered a strategic MoU with C4V to strengthen battery technology development, focusing on high-performance lithium-ion battery cells.

International Expansion

Wardwizard has made progress in its international ventures, successfully dispatching customized electric three-wheelers to the Philippines for testing. These vehicles are tailored for public and commercial transport, including various models designed for urban commutes and sustainable logistics.

Management Commentary

Yatin Gupte, Chairman and Managing Director of Wardwizard Innovations & Mobility Limited, stated, "While Q1 marked a relatively modest start to the fiscal year, we have made strategic progress that strengthens our foundation for future growth. Our entry into the Fleet Segment is a significant milestone, marked by the 2,500-unit order from SpeedforceEV and a MoU with XiCon International to lease 7,500 electric scooters."

He added, "As the festive season approaches, starting with Ganesh Chaturthi, we are optimistic about improved consumer sentiment and rising demand. With a healthy pipeline, enhanced distribution, and strategic focus areas in place, we are well-positioned to deliver improved performance in the upcoming quarters."

Future Outlook

Wardwizard remains focused on driving innovation, operational efficiency, and deeper market penetration across both domestic and international markets. The company's strategic partnerships and expansion into fleet operations are expected to contribute to its growth trajectory in the coming quarters.

With the Indian government's push for increased EV adoption and the company's diverse product portfolio, Wardwizard is poised to capitalize on the growing demand for electric mobility solutions in India and beyond.

Wardwizard Innovations & Mobility promoter Yatin Sanjay Gupte has submitted revised disclosures to correct inconsistencies in previously reported encumbered shares figures. The revision covers two separate pledge transactions as well as a new pledge transaction:

Pledge Details

• 49.00 lakh shares pledged to JJ Fincap Private Limited
• 50.00 lakh shares pledged to Yoginkumar Ashokbhai Patel
• 30.00 lakh shares pledged to M/S. Comfort Fincap Limited

All pledges were created to secure loan against securities facilities or financial assistance.

Shareholding Structure

After these transactions, Gupte's shareholding structure stands as follows:

The company's total share capital remains unchanged at 260,693,900 equity shares of Re. 1 each.

Significance

These revised disclosures provide a more accurate picture of Gupte's shareholding in Wardwizard Innovations & Mobility, a prominent player in the electric vehicle industry. The revisions highlight the importance of accurate and timely reporting of share pledges and encumbrances, as required by SEBI regulations.