New Risk • May 31
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.7% Last year net profit margin: 2.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.1x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.1% average weekly change). Profit margins are more than 30% lower than last year (0.7% net profit margin). Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (₹2.04b market cap, or US$21.5m). Reported Earnings • May 31
Full year 2026 earnings released: EPS: ₹0.06 (vs ₹0.24 in FY 2025) Full year 2026 results: EPS: ₹0.06 (down from ₹0.24 in FY 2025). Revenue: ₹2.53b (down 17% from FY 2025). Net income: ₹18.9m (down 70% from FY 2025). Profit margin: 0.7% (down from 2.1% in FY 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has fallen by 48% per year, which means it is performing significantly worse than earnings. Announcement • May 22
Wardwizard Innovations & Mobility Limited to Report Q4, 2026 Results on May 30, 2026 Wardwizard Innovations & Mobility Limited announced that they will report Q4, 2026 results at 12:15 PM, Indian Standard Time on May 30, 2026 Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹6.22, the stock trades at a trailing P/E ratio of 24.2x. Average trailing P/E is 27x in the Auto industry in India. Total loss to shareholders of 88% over the past three years. Reported Earnings • Feb 15
Third quarter 2026 earnings released: EPS: ₹0.001 (vs ₹0.15 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.001 (down from ₹0.15 in 3Q 2025). Revenue: ₹627.9m (down 27% from 3Q 2025). Net income: ₹316.0k (down 99% from 3Q 2025). Profit margin: 0.1% (down from 4.4% in 3Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has fallen by 50% per year, which means it is performing significantly worse than earnings. Announcement • Feb 09
Wardwizard Innovations & Mobility Limited to Report Q3, 2026 Results on Feb 13, 2026 Wardwizard Innovations & Mobility Limited announced that they will report Q3, 2026 results on Feb 13, 2026 New Risk • Jan 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.3% average weekly change). Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (₹2.18b market cap, or US$24.1m). Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹6.03, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 34x in the Auto industry in India. Total loss to shareholders of 90% over the past three years. New Risk • Nov 21
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.8x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (₹3.04b market cap, or US$34.0m). Reported Earnings • Nov 17
Second quarter 2026 earnings released: EPS: ₹0.01 (vs ₹0.24 loss in 2Q 2025) Second quarter 2026 results: EPS: ₹0.01 (up from ₹0.24 loss in 2Q 2025). Revenue: ₹344.9m (down 41% from 2Q 2025). Net income: ₹1.44m (up ₹63.6m from 2Q 2025). Profit margin: 0.4% (up from net loss in 2Q 2025). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 43% per year, which means it is performing significantly worse than earnings. Announcement • Nov 11
Wardwizard Innovations & Mobility Limited to Report Q2, 2026 Results on Nov 14, 2025 Wardwizard Innovations & Mobility Limited announced that they will report Q2, 2026 results on Nov 14, 2025 Declared Dividend • Sep 06
Dividend reduced to ₹0.10 Dividend of ₹0.10 is 33% lower than last year. Ex-date: 19th September 2025 Payment date: 30th October 2025 Dividend yield will be 0.7%, which is lower than the industry average of 0.9%. Sustainability & Growth Dividend is covered by earnings (42% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 19% per year over the past 4 years. However, payments have been volatile during that time. Earnings per share has grown by 21% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Sep 02
Wardwizard Innovations & Mobility Limited, Annual General Meeting, Sep 30, 2025 Wardwizard Innovations & Mobility Limited, Annual General Meeting, Sep 30, 2025, at 13:00 Indian Standard Time. New Risk • Aug 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 5.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Share price has been highly volatile over the past 3 months (5.8% average weekly change). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.8% net profit margin). Market cap is less than US$100m (₹2.70b market cap, or US$31.0m). Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹12.44, the stock trades at a trailing P/E ratio of 62.7x. Average trailing P/E is 32x in the Auto industry in India. Total loss to shareholders of 81% over the past three years. Reported Earnings • Aug 07
First quarter 2026 earnings released: EPS: ₹0.04 (vs ₹0.09 in 1Q 2025) First quarter 2026 results: EPS: ₹0.04 (down from ₹0.09 in 1Q 2025). Revenue: ₹368.9m (down 28% from 1Q 2025). Net income: ₹11.2m (down 52% from 1Q 2025). Profit margin: 3.0% (down from 4.5% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has fallen by 42% per year, which means it is performing significantly worse than earnings. Announcement • Aug 02
Wardwizard Innovations & Mobility Limited to Report Q1, 2026 Results on Aug 06, 2025 Wardwizard Innovations & Mobility Limited announced that they will report Q1, 2026 results on Aug 06, 2025 Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹12.67, the stock trades at a trailing P/E ratio of 52x. Average trailing P/E is 31x in the Auto industry in India. Total loss to shareholders of 80% over the past three years. Reported Earnings • May 02
Full year 2025 earnings released: EPS: ₹0.24 (vs ₹0.52 in FY 2024) Full year 2025 results: EPS: ₹0.24 (down from ₹0.52 in FY 2024). Revenue: ₹3.05b (down 5.0% from FY 2024). Net income: ₹63.6m (down 53% from FY 2024). Profit margin: 2.1% (down from 4.2% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings. Announcement • May 01
Wardwizard Innovations & Mobility Limited Recommends Final Dividend for the Financial Year 2023-2024 The Board of Wardwizard Innovations & Mobility Limited recommended a Final Dividend of INR 0.10/- (Ten Paisa only) per equity share @10% at per Equity Share of INR 1 per share (INR One Only) for the Financial Year 2024-2025. Announcement • Apr 25
Wardwizard Innovations & Mobility Limited to Report Q4, 2025 Results on Apr 30, 2025 Wardwizard Innovations & Mobility Limited announced that they will report Q4, 2025 results on Apr 30, 2025 New Risk • Mar 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.5x net interest cover). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.2% average weekly change). Profit margins are more than 30% lower than last year (1.2% net profit margin). Market cap is less than US$100m (₹8.13b market cap, or US$93.3m). Reported Earnings • Feb 07
Third quarter 2025 earnings released: EPS: ₹0.15 (vs ₹0.21 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.15 (down from ₹0.21 in 3Q 2024). Revenue: ₹864.1m (down 19% from 3Q 2024). Net income: ₹38.2m (down 28% from 3Q 2024). Profit margin: 4.4% (down from 5.0% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 28% per year, which means it is performing significantly worse than earnings. New Risk • Jan 27
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.60b (US$99.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). High level of non-cash earnings (60% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.6% net profit margin). Market cap is less than US$100m (₹8.60b market cap, or US$99.6m). New Risk • Nov 07
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.6% Last year net profit margin: 4.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). High level of non-cash earnings (60% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.6% net profit margin). Reported Earnings • Nov 07
Second quarter 2025 earnings released: ₹0.24 loss per share (vs ₹0.099 profit in 2Q 2024) Second quarter 2025 results: ₹0.24 loss per share (down from ₹0.099 profit in 2Q 2024). Revenue: ₹583.2m (up 19% from 2Q 2024). Net loss: ₹62.2m (down 344% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Sep 04
Wardwizard Innovations & Mobility Limited, Annual General Meeting, Sep 30, 2024 Wardwizard Innovations & Mobility Limited, Annual General Meeting, Sep 30, 2024, at 13:00 Indian Standard Time. Declared Dividend • Sep 04
Dividend increased to ₹0.15 Dividend of ₹0.15 is 50% higher than last year. Ex-date: 20th September 2024 Payment date: 30th October 2024 Dividend yield will be 0.3%, which is lower than the industry average of 0.9%. Sustainability & Growth Dividend is covered by earnings (29% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 44% per year over the past 3 years and payments have been stable during that time. Earnings per share has grown by 52% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Sep 03
Wardwizard Innovations & Mobility Limited Announces Resignation of Tarun Kumar Sharma from the Position of President - Marketing and Branding Wardwizard Innovations & Mobility Limited announced the Company has received a resignation letter from Mr. Tarun Kumar Sharma from the position of President - Marketing and Branding, with effect from 31 August 2024. The reason for his Resignation from the position of President - Marketing and Branding is due to pursuing new challenges and opportunities that align with his personal and professional aspirations as stated by him in the resignation letter. Announcement • Jul 31
Sneha Harshavardhan Shouche Resigns as Chief Marketing Officer of Wardwizard Innovations & Mobility Limited Wardwizard Innovations & Mobility Limited has received a resignation letter from Mrs. Sneha Harshavardhan Shouche from the position of Chief Marketing Officer of the company with effect from 31st July, 2024, due to personal reasons. Reported Earnings • Jul 30
First quarter 2025 earnings released: EPS: ₹0.09 (vs ₹0.06 in 1Q 2024) First quarter 2025 results: EPS: ₹0.09 (up from ₹0.06 in 1Q 2024). Revenue: ₹514.4m (up 36% from 1Q 2024). Net income: ₹23.0m (up 47% from 1Q 2024). Profit margin: 4.5% (up from 4.1% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Jul 22
Wardwizard Innovations & Mobility Limited to Report Q1, 2025 Results on Jul 29, 2024 Wardwizard Innovations & Mobility Limited announced that they will report Q1, 2025 results on Jul 29, 2024 Board Change • May 07
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Additional Non- Executive Independent Director Mitesh Rana was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. New Risk • May 03
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 0.3% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (63% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.0% average weekly change). Reported Earnings • Apr 26
Full year 2024 earnings released: EPS: ₹0.52 (vs ₹0.34 in FY 2023) Full year 2024 results: EPS: ₹0.52 (up from ₹0.34 in FY 2023). Revenue: ₹3.22b (up 35% from FY 2023). Net income: ₹134.4m (up 52% from FY 2023). Profit margin: 4.2% (up from 3.7% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Apr 19
Wardwizard Innovations & Mobility Limited to Report Q4, 2024 Results on Apr 25, 2024 Wardwizard Innovations & Mobility Limited announced that they will report Q4, 2024 results on Apr 25, 2024 Announcement • Feb 07
Wardwizard Innovations & Mobility Limited Announces Resignation of Mr. Kamal A. Lalani as Non- Executive Independent Director Wardwizard Innovations & Mobility Limited has received resignation letter from Mr. Kamal A. Lalani (DIN: 09141815) vide his resignation letter dated 03rd February, 2024 tendering his resignation as Non- Executive Independent Director of the Company with effect from Company's upcoming Board meeting dated 08th February, 2024 (After closing of Business hours). He has also confirmed that there are no other material reasons other than those mentioned in his resignation letter. Reported Earnings • Jan 15
Third quarter 2024 earnings released: EPS: ₹0.21 (vs ₹0.13 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.21 (up from ₹0.13 in 3Q 2023). Revenue: ₹1.06b (up 52% from 3Q 2023). Net income: ₹53.5m (up 59% from 3Q 2023). Profit margin: 5.0% (up from 4.8% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Jan 12
Wardwizard Innovations & Mobility Limited Unveils 6 Concept Models of Electric Vehicles at 10th Edition of Vibrant Gujarat Global Summit Wardwizard Innovations & Mobility Limited showcased concepts across electric two-wheeler segment under the brand name Joy e-bike and electric commercial vehicles segment under the banner of Joy e-rik, at the 10th Edition of Vibrant Gujarat Global Summit. Presenting the vision to expand its EV model line-up with technological advancements and innovations, the company showcased the concept models of two High-Speed Electric Scooters along with the concept models of four Electric Commercial Vehicles: Golf Cart (6 seater), Garbage Vehicle, E-Cart and E-Loader Vehicle. The company unveiled the next-gen hydrogen fuel cell and electrolyzer technology. Demonstrating the technology further, the company showcased the Hydrogen-based Fuel Cell Powered Scooter prototype, marking a pioneering venture into alternative cell chemistry. The concept underscored Wardwizard's commitment to innovate and actively progress the hydrogen technology to redefine the landscape of clean and efficient mobility in India and across the world Currently in the R&D stage, the concept of Hydrogen based fuel cell signifies an important step towards the future to cater the needs of next-generation users. The technology when fully developed will be utilized across varied segments, including the utility vehicles. This initiative is part of a collaboration with Triton EV, highlighting a joint effort to push the boundaries of innovation in the electric vehicle sector. Announcement • Jan 06
Wardwizard Innovations & Mobility Limited to Report Q3, 2024 Results on Jan 13, 2024 Wardwizard Innovations & Mobility Limited announced that they will report Q3, 2024 results on Jan 13, 2024 Reported Earnings • Nov 08
Second quarter 2024 earnings released: EPS: ₹0.10 (vs ₹0.099 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.10 (up from ₹0.099 in 2Q 2023). Revenue: ₹491.6m (down 23% from 2Q 2023). Net income: ₹25.5m (up 1.8% from 2Q 2023). Profit margin: 5.2% (up from 3.9% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Oct 28
Wardwizard Innovations & Mobility Limited to Report Q2, 2024 Results on Nov 07, 2023 Wardwizard Innovations & Mobility Limited announced that they will report Q2, 2024 results on Nov 07, 2023 Announcement • Sep 29
Wardwizard Innovations & Mobility Limited Approves Declaration of Final Dividend for the Fiscal Year Ended 31St March, 2023 41th Annual General Meeting (AGM) of Members of the Wardwizard Innovations & Mobility Limited was held on Tuesday, 26th September, 2023 approved Declaration of Final Dividend on Equity Shares at the rate of INR 0.10/- (Ten Paisa only) per equity share @ 10% at par value of 1 each fully paid-up of the Company for the Fiscal Year ended 31st March, 2023 and the same be paid out of the profits of the Company. Announcement • Sep 25
Wardwizard Innovations & Mobility Limited Announces Reconstitution of Various Committees of Board of Directors Wardwizard Innovations & Mobility Limited announced that Consequent upon the resignation of Mr. Bhargav Govindprasad Pandya from the position of Non-Executive Independent Director of the Company, the Audit Committee has been reconstituted by rechristened "Mr. Kamal Ashwinbhai Lalani", Additional Non-Executive, Independent Director as a new Chairman/Member of the Committee effective 23rd September, 2023 as per the provisions of section 177 of the Companies Act, 2013 and regulation 18 of the Listing Regulations. Post re-constitution, the composition of the Audit Committee shall be as follows: Mr. Kamal Ashwinbhai Lalani Additional Non - Chairman Executive Independent Director Mr. Yatin Sanjay Gupte Executive Director Member Mr. Preyansh Bharatkumar Non - Executive Member Shah Independent Director Mrs. Rohini Abhishek Non - Executive Member Chauhan Independent Woman Director. Nomination & Remuneration Committee shall be as follows: Mr. Preyansh Bharatkumar Non Executive Chairman Shah Independent Director Mr. Kamal Ashwinbhai Lalani Additional Non Member Executive Independent Director Mrs. Rohini Abhishek Chauhan Non Executive Member Independent Woman Director Dr. John Joseph Additional Non Member Executive Independent Director Lt. General Jai Singh Nain (Retd) Additional Non Member Executive Independent Director. Stakeholder Relationship Committee:-Mrs. Rohini Abhishek Chauhan Non-Executive Chairperson Independent Woman Director Mr. Sanjay Mahadev Gupte Executive Director Member Mr. Preyansh Bharatkumar Non-Executive - Member Shah Independent Director Mr. Kamal Ashwinbhai Lalani Additional Non Member Executive Independent Director Dr. John Joseph Additional Non Member Executive Independent Director Lt General Jai Singh Nain (Retd) Additional Non Member Executive Independent. Risk Management Committee:- Mr. Preyansh Bharatkumar Non-Executive - Chairman Shah Independent Director Mr. Yatin Sanjay Gupte Executive Director Member Mr. Kamal Ashwinbhai Lalani Additional Non Member Executive Independent Director Mrs. Rohini Abhishek Chauhan Non-Executive - Member Independent Woman Director Mrs. Sheetal Mandar Bhalerao Non-Executive Non- Member Independent Director Mr. Sanjay Kumar Sablok President - Operations Member. Fund Raising Committee:- Mr. Yatin Sanjay Gupte Executive Director Chairman Mr. Sanjay Mahadev Gupte Executive Director Member Mr. Kamal Ashwinbhai Lalani Additional Non Member Executive Independent Director. Announcement • Sep 14
Wardwizard Innovations & Mobility Limited Announces Resignation of Annasaheb Mahadev Kumbhar as Associate Vice President-Factory Head Wardwizard Innovations & Mobility Limited announced that it has received a resignation letter from Mr. Annasaheb Mahadev Kumbhar, vide his resignation letter dated 13th September, 2023 tendered his resignation from the position of Associate Vice President Factory Head of Wardwizard Innovations & Mobility Limited ("WIML") from 13th September, 2023. Reason: He has stated the reason for his resignation from the post of Associate Vice President -Factory Head in his letter that due to pre-occupations with other work and assignments. Upcoming Dividend • Sep 11
Upcoming dividend of ₹0.10 per share at 0.2% yield Eligible shareholders must have bought the stock before 18 September 2023. Payment date: 26 October 2023. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (1.2%). Announcement • Sep 02
Wardwizard Innovations & Mobility Ltd. Appoints Tarun Sharma as the President of Marketing & Branding Wardwizard Innovations and Mobility Ltd. announced the appointment of Tarun Sharma as the president of marketing and branding. With an illustrious career as a marketing veteran, Tarun will spearhead the organisation's strategic market planning and adopt an all-encompassing approach towards achieving unmatched effectiveness in marketing endeavours. With over 20 years of rich and diverse experience in sales and marketing, Tarun Sharma is a seasoned leader in deploying digital, B2B marketing, sales and customer experience for large telecom and technology firms. He held the position of head of strategic marketing for enterprise business (B2B) at Vodafone Idea Limited, where he played a pivotal role in establishing Vi Business as a preferred partner through strategic marketing programs. His expertise includes strategic marketing, product marketing and customer acquisition, corporate sales, fostering strong B2C & B2B engagement programs, nurturing relationships with CXOs and Tech Analysts, and formulating thought papers and blogs based on industry research. Prior to this, he has also worked with Telecom giants such as Reliance Communications, and Bharti Airtel Limited. Tarun Sharma is an IIM Lucknow alumnus, holding several other certifications to his credit along with having diverse experience in various fields. His valuable expertise is poised to drive sales and marketing initiatives, contributing to the company's growth and success in the electric vehicle industry. Upcoming Dividend • Aug 21
Upcoming dividend of ₹0.10 per share at 0.2% yield Eligible shareholders must have bought the stock before 28 August 2023. Payment date: 05 October 2023. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (1.2%). Reported Earnings • Jul 31
First quarter 2024 earnings released: EPS: ₹0.06 (vs ₹0.08 in 1Q 2023) First quarter 2024 results: EPS: ₹0.06 (down from ₹0.08 in 1Q 2023). Revenue: ₹378.7m (down 31% from 1Q 2023). Net income: ₹15.6m (down 24% from 1Q 2023). Profit margin: 4.1% (up from 3.8% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Announcement • Jul 29
Wardwizard Innovations & Mobility Limited Approves the Appointment of John Joseph as an Additional Director in the Category of Non-Executive Independent Wardwizard Innovations & Mobility Limited at its board meeting held on July 28, 2023, approved the appointment of Dr. John Joseph as an Additional Director in the category of Non-Executive Independent of the Company with effect from 28th July, 2023 to hold office up to the upcoming general meeting, subject to necessary approvals of the members of the Company. He has academic qualifications in M.V.Sc (Master of Veterinary Science), LLB and Post Graduate Diploma in Alternate Dispute Resolution. He has more than 39 (Thirty Nine) years of experience in the field of Central Excise and Customs and retired as Special secretary to Government of India and Chairman/member CBIC. He is one of the distinguished personalities who has proven Integrity by serving as Whole-time Director GST Network (GSTN) Government of India and also has experience of Directorship in Corporates. Announcement • Jul 18
Wardwizard Innovations & Mobility Limited to Report Q1, 2024 Results on Jul 25, 2023 Wardwizard Innovations & Mobility Limited announced that they will report Q1, 2024 results on Jul 25, 2023 Announcement • Jul 03
Wardwizard Innovations & Mobility Limited Announces Resignation of Sunil Oommen Chacko as President of Retention & Training Wardwizard Innovations & Mobility Limited announced that the Company has received a resignation letter from Mr. Sunil Oommen Chacko, vide his resignation letter dated 30th June, 2023 tendered his resignation from the position of President of Retention & Training of Wardwizard Innovations & Mobility Limited from 30th June, 2023 who was designated as Personnel of Senior Management. He has stated the reason for his resignation from the post of President - Retention & Training in his letter that due to engagement in other work and assignments. Announcement • Jun 23
Wardwizard Innovations & Mobility Limited Announces Resignation of Neelambari Harshal Bhujbal as Non-Executive Independent Director Wardwizard Innovations & Mobility Limited announced that the Company has received a resignation letter from Mrs. Neelambari Harshal Bhujbal, vide her resignation letter dated 22nd June, 2023 tendering her resignation as Non- Executive Independent Director of the Company with effect from Company's upcoming Board meeting dated 23 June, 2023 (After closing of Business hours). Announcement • May 12
Wardwizard Innovations & Mobility Limited to Report Q4, 2023 Results on May 12, 2023 Wardwizard Innovations & Mobility Limited announced that they will report Q4, 2023 results on May 12, 2023 Reported Earnings • May 10
Full year 2023 earnings released: EPS: ₹0.34 (vs ₹0.35 in FY 2022) Full year 2023 results: EPS: ₹0.34. Revenue: ₹2.39b (up 30% from FY 2022). Net income: ₹88.5m (up 4.4% from FY 2022). Profit margin: 3.7% (down from 4.6% in FY 2022). The decrease in margin was driven by higher expenses. Reported Earnings • Feb 08
Third quarter 2023 earnings released: EPS: ₹0.13 (vs ₹0.11 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.13 (up from ₹0.11 in 3Q 2022). Revenue: ₹698.3m (up 20% from 3Q 2022). Net income: ₹33.6m (up 17% from 3Q 2022). Profit margin: 4.8% (down from 4.9% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 97% per year whereas the company’s share price has increased by 102% per year. Announcement • Feb 06
Wardwizard Innovations & Mobility Limited Announces Executive Appointments Wardwizard Innovations & Mobility Limited at its board meeting held on February 6, 2023, designated following Core Team Members of the Company as Senior Management with effective from February 6, 2023: Mrs. Sneha Harshavardhan Shouche as Chief Marketing Officer; Mr. Sunil Oommen Pulican Chacko as President - Retention & Training; Mr. Vineet Ghanshyam Akre as Senior Vice President- R&D and Production. The Board has appointed Mrs. Sneha Harshavardhan Shouche, Chief Marketing officer of Company as Presiding Officer/Chairperson of Internal Complaint Committee/Prevention of Sexual Harassment Committee. Announcement • Jan 25
Wardwizard Innovations & Mobility Limited to Report Q3, 2023 Results on Feb 06, 2023 Wardwizard Innovations & Mobility Limited announced that they will report Q3, 2023 results on Feb 06, 2023 Announcement • Jan 17
WardWizard Launches its New High-Speed Electric Scooter MIHOS WardWizard launched its new high-speed electric scooter MIHOS with Poly Dicyclopentadiene Material (PDCPD) to bring high standards of durability for the riders. Designed and developed by WardWizard's R&D team in Vadodara, MIHOS, is a retro-style electric scooter. Products are make in India and it is equipped with advanced technology, and user-friendly features with a vehicle sound simulator for additional safety of the riders on the road. It also features a broad seat for enhanced riding comfort. The production will take place at the company's manufacturing facility in Vadodara, Gujarat and the deliveries will commence in a phased manner across the country. Making another move in strengthening its product portfolio in the electric motorcycle category, the company also unveiled the concept of its city electric motorcycle Rockefeller at the expo. The concept motorcycle is designed keeping in mind the need of the riders for daily riding. The company is planning to launch the motorcycle by the end of the fiscal year 2024. Specifications for MIHOS: Mihos, A Retro Styled Electric Classic Scooter is designed keeping in mind the comfort and easy to ride ergonomics which makes it an ideal choice for every customer irrespective of age. Wide and longer seat with the dimensions with a height of 750 mm and an extended wheelbase of 1,360 mm. Comfort ergonomics with dimensions L=1,864 mm | W=700 mm | H=1,178 mm. Keeping in mind, the comfort the Telescopic suspension setup is provided in front with a mono reversible spring suspension at rear. Mihos is designed as per Indian road conditions and with a ground clearance of 175 mm. Equipped with safety features, including Side Stand Sensor and Hydraulic Combi Braking System (CBS) Mihos is made up of a unique material named Poly Dicyclopentadiene or PDCPD. This material is the key differentiator of the product which poses dual qualities of high flexibility and sturdy nature at the same time. Mihos can do a 0-40 kmph in less than 7 sec and comes with an instantaneous torque of 95 Nm on offer. CAN-based intelligent electronics Battery Tech: MIHOS features a 74V40Ah Li-Ion based battery with Nickel Manganese Cobalt chemistry having a net energy content of 2.5 kWh. Battery can stand shock loads and have gone through many industry-first test protocols for reliability. It further packs the range of safety sensors including the over current protection and thermal cut-off for the enhanced protection for the Indian weather conditions. The battery is at the heart of an electric vehicle. To pull out the required performance an advanced NMC battery is in place. NMCs high energy density and longer life cycles make them a perfect choice for Indian market. Intelligence: The Smart Mihos E-scooter come with the combination of different sensors imparting the intelligent features for enhanced safety and usability. Smart Connectivity: Joy E- connect app is a one-tap control for Mihos Connect and control the scooter via Bluetooth. Remote Applications: The scooter can be tracked and the Battery status can also be checked remotely. Reverse Mode: This allows you to move the scooter backwards for ease in getting out of tight parking spots. GPS Enabled: GPS sensing, real-time position and geo-fencing are many other features on the Mihos. Antitheft: The Mihos sense vibrations when left parked and can understand if it's being tampered with. It also comes with smart remote control which locks the scooter when tampering happens. Regenerative Braking: it further comes with the regenerative braking system to enhance the range of the vehicle by recharging the battery every time the brake lever is pulled. Performance: Hub motor direct drive transmission combined with a BLDC motor pack an instant punch to provide the best in category torque, combined with three speed controller to enhance the practicality of the scooter. They host a 1500W motor, torque of 95 Nm, Top Speed of 70 kmph. Seeking the safety of the user, the twin disc brakes are incorporated with an electronic braking system to stop the vehicle in lowest distance possible. Battery is rated as 74V40Ah. One charging cycle completes in 4 hours. 100km range per charge. Price And Color Options: Metallic Blue; Solid Black Glossy; Solid Yellow Glossy; and Pearl White. Price: INR 149,000 (For first 5000 customers). Announcement • Jan 11
Joy E-Bike Set to Launch New Models and Unveil Future Concepts at Auto Expo 2023 in Greater Noida WardWizard Innovations & Mobility Limited, a manufacturer of electric two-wheeler brand ‘Joy e-bike’, is all geared up to showcase their exciting new product line-up and unveil future concepts at the 16th edition of Auto Expo 2023 in Greater Noida. The WardWizard's pavilion will further showcase the newer technologies and the model of India's first EV ancillary cluster. Being at the forefront of the EV revolution in India, Wardwizard is set to launch a new-age high-speed electric two-wheeler, alongside the unveiling of a new concept EV motorcycle, to be launched later this year. The comprehensive product line expansion is a step towards making the products future-ready to meet the aspirations of the customers. The home-grown EV manufacturer is known for its low and high-speed electric two-wheeler models like Wolf+, Gen Next Nanu+, Wolf, and Gen Next Nanu which are popular amongst riders irrespective of age or gender. The visitors can experience Wardwizard's technology and its world-class electric two-wheelers at the India Expo Centre, Greater Noida, Stall No. E57 & E73, Hall No.4. Board Change • Nov 16
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Chairman & MD Yatin Gupte is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 22
Second quarter 2023 earnings released: EPS: ₹0.10 (vs ₹0.06 in 2Q 2022) Second quarter 2023 results: EPS: ₹0.10 (up from ₹0.06 in 2Q 2022). Revenue: ₹639.7m (up 91% from 2Q 2022). Net income: ₹25.0m (up 55% from 2Q 2022). Profit margin: 3.9% (down from 4.8% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 102% per year whereas the company’s share price has increased by 103% per year. Upcoming Dividend • Aug 15
Upcoming dividend of ₹0.075 per share Eligible shareholders must have bought the stock before 22 August 2022. Payment date: 29 September 2022. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 0.1%. Lower than top quartile of Indian dividend payers (1.7%). Lower than average of industry peers (1.4%). Reported Earnings • Aug 02
First quarter 2023 earnings released: EPS: ₹0.08 (vs ₹0.03 in 1Q 2022) First quarter 2023 results: EPS: ₹0.08 (up from ₹0.03 in 1Q 2022). Revenue: ₹547.3m (up 375% from 1Q 2022). Net income: ₹20.6m (up 191% from 1Q 2022). Profit margin: 3.8% (down from 6.1% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 102% per year whereas the company’s share price has increased by 105% per year. Reported Earnings • May 11
Full year 2022 earnings released: EPS: ₹0.35 (vs ₹0.10 in FY 2021) Full year 2022 results: EPS: ₹0.35 (up from ₹0.10 in FY 2021). Revenue: ₹1.85b (up 370% from FY 2021). Net income: ₹84.8m (up 353% from FY 2021). Profit margin: 4.6% (down from 4.8% in FY 2021). The decrease in margin was driven by higher expenses. Board Change • Apr 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. Chairman & MD Yatin Gupte is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Feb 11
Wardwizard Launches Made-In-India High Speed E-Scooters Wolf+ & Gen Next Nanu+ Wardwizard Innovations & Mobility Limited launched two new `Made-in-India' high-speed scooters, Wolf+ and Gen Next Nanu+ and a fleet management scooter Del Go. The three scooters earmark the entry of Joy e-bike into the high-speed electric scooter segment. Wolf+, Gen Next Nanu+ and Del Go are designed and developed by the R&D team with a focus to promote localization and the `Make-in-India' initiative. The production of the scooters will take at the company's state-of-the-art manufacturing facility in Vadodara, Gujarat. SPECIFICATIONS FOR WOLF+ AND GEN NEXT NANU+: While Wolf+ comes with a touring design for driving around the outskirts of the city, Gen Next Nanu+ is more aggressive and sharply styled scooter keeping in mind the persona of younger customers. INTELLIGENCE: The Wolf+, Gen Next Nanu+ come with the combination of different sensors imparting the intelligent features. SMART CONNECTIVITY: `Joy E- connect app' is a one-tap control for Wolf+ and Gen Next Nanu+. Connect and control the scooter via Bluetooth. REMOTE APPLICATIONS: Both the scooters can be tracked and the Battery status can also be checked remotely. DRIVING MODES: Both scooters come with three drive modes i.e. Eco, Sports and Hyper. It is done to enhance the practicality of the scooters. REVERSE MODE: This allows you to move the scooter backwards for ease in getting out of tight parking spots. GPS ENABLED: GPS sensing, real-time position and geo-fencing are amongst many other features present on the scooters. ANTITHEFT: The Wolf+ and Gen Next Nanu+ sense vibrations when left parked and can understand if it's being tampered with. They also come with smart remote control which locks the scooter when tampering happens. REGENERATIVE BRAKING: Both the scooters come with the regenerative braking system to enhance the range of the vehicle by recharging the battery every time the brake lever is pulled. Reported Earnings • Oct 27
Second quarter 2022 earnings released: EPS ₹0.06 (vs ₹0.13 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹335.2m (up 386% from 2Q 2021). Net income: ₹16.2m (up 478% from 2Q 2021). Profit margin: 4.8% (up from 4.1% in 2Q 2021). The increase in margin was driven by higher revenue. Is New 90 Day High Low • Jan 29
New 90-day high: ₹569 The company is up 23% from its price of ₹462 on 30 October 2020. The Indian market is up 19% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Real Estate industry, which is up 35% over the same period. Is New 90 Day High Low • Jan 12
New 90-day high: ₹513 The company is up 66% from its price of ₹309 on 14 October 2020. The Indian market is up 24% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 52% over the same period. Announcement • Jan 12
Wardwizard Innovations & Mobility Limited to Report Q4, 2020 Results on Jan 19, 2021 Wardwizard Innovations & Mobility Limited announced that they will report Q4, 2020 results on Jan 19, 2021 Is New 90 Day High Low • Dec 28
New 90-day high: ₹491 The company is up 101% from its price of ₹245 on 29 September 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 36% over the same period. Is New 90 Day High Low • Oct 22
New 90-day high: ₹365 The company is up 279% from its price of ₹96.50 on 24 July 2020. The Indian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 18% over the same period. Announcement • Oct 01
Wardwizard Innovations & Mobility Limited Appoints Snehabshouche as Executive Non-Independent Director Wardwizard Innovations & Mobility Limited appointed Ms. SnehabShouche as Executive Non-Independent Director in its AGM held on September 30, 2020. Announcement • Sep 09
Wardwizard Innovations & Mobility Limited to Report Q1, 2021 Results on Sep 14, 2020 Wardwizard Innovations & Mobility Limited announced that they will report Q1, 2021 results on Sep 14, 2020 Announcement • Jul 17
Wardwizard Innovations & Mobility Limited announced that it expects to receive INR 54.25 million in funding Wardwizard Innovations & Mobility Limited (BSE:538970) announced a private placement of 1,750,000 shares of face value of INR 10 each at a price of INR 31 per share for gross proceeds of INR 54,250,000 on July 11, 2020. The transaction has been approved by the board of directors of the company and is subject to the approval of the shareholders of the company and the approval of the stock exchange. Announcement • Jun 28
Wardwizard Innovations & Mobility Limited to Report Q4, 2019 Results on Jun 30, 2020 Wardwizard Innovations & Mobility Limited announced that they will report Q4, 2019 results on Jun 30, 2020 
