Wardwizard Innovations & Mobility Ltd – Registersgrowth across all key metrics led by volume, realisation, and new offerings

Wardwizard Innovations and Mobility Ltd (BSE Code: 538970), one of the leading manufacturers of electric two-wheeler ‘Joy E-bike’, announced its financial result for the fourth quarter ended March ‘21 of the financial year 2021. 

Commenting on the growth, Mr. YatinGupte,Chairman and Managing Director, Wardwizard Innovations and Mobility Ltd said, “We are delighted to achieve a positive outcome in one of the most challenging years in the country. We have increased our footprints across the nation and have also taken the Indian flag to foreign lands. The rise in demand for personal mobility and sky-rocketing fuel costs significantly boosts electric two-wheelers sales and caters to this growing opportunity.

 

Boosting the sales backed by the growing demand of electric two wheelers in the entire nation, the company sold more than 1,623 units of electric two-wheelers in Q4’21 as compared to 929 units in Q3’21. Registered the growth of more than 74.70% within a quarter for its popular range of products including the both electric motorcycles and scooters 

Further, the government across countries is coming down hard on pollution-related issues and reducing carbon emissions is one such step that is being advocated. And our E-bikes prove to be a tested and more economical alternative, without calling for any incremental investments.” 

Mr. YatinGupte,Chairman and Managing Director, Wardwizard Innovations and Mobility Ltd said Our recent decision to expand our manufacturing capacity at a new location, Vadodara, and to fast track this expansion plan is one such example of how this philosophy has helped the company spot opportunities and respond to it. This state of the art OEM facility has the installed capacity to manufacture more than 1 Lakh units in a single shift and can be extended to 3-4 lakh with 2-3 shifts.Right from visualising an expansion in our manufacturing capacity by multi folds to setting off to achieving those dreams has been a daunting task, especially for a company of our size. We are quite kicked with the scale of opportunity available to us going forward. All our historical and future efforts will take the company to the next level, I’m sure”.