Wardwizard Foods & Beverages , a prominent player in the electric vehicle (EV) sector, has reported significant developments in its business operations, showcasing resilience and expansion efforts.

Global Expansion and New Orders

Wardwizard Foods & Beverages Limited has expanded its international operations by starting exports to Bahrain and Germany. The company appointed FOODWAVE INTERNATIONAL as its official distributor for the QuikShef Brand in Bahrain. Export shipments to Germany include QuikShef's ready-to-eat product range featuring signature dishes such as Bhindi Masala, Baingan Bharta, Pav Bhaji, Undhiyu, and Gujarati Dal.

The company has also introduced a new sweets range including Gajar Halva, Suji Halva, and Moong Dal Halva, which will be shipped to Bahrain. This expansion follows the company's previous successful shipments to Canada, USA, and UAE.

In addition to its food business expansion, Wardwizard Foods & Beverages has received fresh orders from Speedforce and Xicon in its EV sector, bolstering its order book. The company has also expanded its three-wheeler exports, tapping into international markets for growth opportunities.

Strategic Partnerships and Network Expansion

Wardwizard Foods & Beverages has been proactive in forming strategic alliances across key areas of the EV ecosystem:

• Batteries: Partnerships in this sector aim to enhance the company's technological capabilities.
• Charging Infrastructure: Collaborations in this area are crucial for addressing range anxiety.
• Finance Sector: Partnerships in finance could potentially make the company's products more accessible through attractive financing options.

The company has also reported growth in its dealer network, indicating improved distribution capabilities and market reach.

Future Plans

Chairperson and Managing Director Mrs. Sheetal Bhalerao stated that the company has Singapore, Vietnam, and Malaysia in the pipeline as new markets for its food business and is preparing for the GulFood Expo.

Business Performance

Despite the overall positive developments, Wardwizard Foods & Beverages faced some challenges:

• Lower Sales: The company experienced a decrease in sales in its EV business.
• Maintained Profitability: Notably, despite the sales dip, the company managed to maintain higher profit levels, suggesting effective cost management and operational efficiency.

Outlook

Wardwizard Foods & Beverages' recent developments paint a picture of a company actively working to strengthen its position in both the food and EV markets. The new orders, global expansion efforts, strategic partnerships, and growing dealer network all point towards a focused growth strategy. While the sales dip in the EV sector is a concern, the maintained profitability and expansion in the food business suggest that the company has the capabilities to navigate through challenging periods and diversify its operations.

Wardwizard Foods & Beverages Limited, a multi-segment food company, has reported a significant downturn in its financial performance for the first quarter, according to the company's latest financial results.

Financial Highlights

• Net Loss: The company reported a net loss of ₹169.51 lakhs, a stark contrast to the profit of ₹67.74 lakhs in the previous quarter.
• Revenue: Revenue from operations declined sharply to ₹1,319.79 lakhs from ₹3,914.08 lakhs in the previous quarter.
• Total Income: Total income decreased to ₹1,335.39 lakhs from ₹3,920.09 lakhs.
• Earnings Per Share: Basic and diluted earnings per share stood at -₹0.53.

Segment Performance

Wardwizard Foods operates through three primary segments:

1. Sale of RTE (Ready-to-Eat), Frozen, Sauces & Mayo
2. Food Commodities
3. Services

The segment-wise revenue breakdown is as follows:

Financial Position

• The company's total assets stood at ₹11,965.91 lakhs.
• Total liabilities were reported at ₹4,107.68 lakhs.

Other Notable Points

• The company has given an advance of ₹760 lakhs and believes no provision for expected credit loss is required based on its evaluation of the recoverability of the amount.
• No investor complaints remained pending at the end of the quarter.

Management Commentary

The Board of Directors approved these unaudited financial results at their meeting. The results were reviewed by the Audit Committee and have been prepared in accordance with Indian Accounting Standards (Ind-AS) and SEBI regulations.

Wardwizard Foods & Beverages Limited continues to navigate challenging market conditions, as evidenced by the significant decline in revenue and the shift from profit to loss compared to the previous quarter. The company's performance across its diverse segments will be crucial to monitor in the coming quarters as it seeks to reverse this downward trend.