WardWizard Innovations & Mobility limited one of the leading auto-manufacturing companies in the Electric Vehicle segment known by the brand name Joy E-Bike announced its quarter and annual results ended March 31, 2022. For Q4 FY22, Revenue Stands at Rs 815 mn, up 347% YoY and EBIDTA Stands at Rs 61 mn, up 279% YoY. For FY22, Revenue Stands at Rs. 1,851 mn, up 369% YoY and EBIDTA Stands at Rs. 145 mn, up 365% YoY.
WardWizard has achieved a sales landmark of 30,761 units in the last financial year. The company with a current 550+ dealership network pan-India envisages crossing 2000+ dealers in another 2-3 years and also added more than 20+ dealers in the state of Gujarat.
It has recently launched high-speed scooters, Wolf+ and Gen Next Nanu+ and planning to introduce a three-wheeler product this year. It acquired 4 million sq. ft. of land to develop India’s first-ever electric vehicle ancillary cluster at newly inaugurated global headquarters in Vadodara. It has signed an MoU with the Government of Gujarat to invest Rs 500 crore in electric vehicle research and development in Gujarat. It also signed an MoU with Singapore-based renewable energy management consulting firm Sunkonnect for a feasibility study and identification for a potential partner for the manufacturing of Li-ion advance cells in India at WardWizard’s EV Ancillary Cluster. The Company inaugurated an extraordinary Joy E-Bike’s Experience centre across the country.
The Chairman & Managing Director of WardWizard Innovations & Mobility Ltd Mr Yatin Gupte said, “We are also planning to introduce more products this year, which will help the industry and the company both to grow together and the users will be benefited at large.”
