Wardwizard Innovations & Mobility Limited has reported a notable financial performance for the first quarter of FY25, ending in June 2024. The company’s revenue surged to INR 489.68 million, marking a year-on-year growth of 29.23%.
The financial highlights for Q1 FY25 reveal a robust performance across various metrics. Standalone total revenues rose to INR 489.68 million from INR 378.93 million in the same quarter of the previous year. The earnings before interest, taxes, depreciation, and amortisation (EBITDA) jumped by 60.13% to INR 76.48 million, reflecting a strong operational efficiency with an EBITDA margin of 15.62%, up by 302 basis points. The profit after tax (PAT) stood at INR 24.15 million, a 37.92% increase from the previous year, with PAT margin improving by 31 basis points.
On a consolidated basis, the company's revenue increased by 35.79% to INR 514.43 million. The consolidated EBITDA was INR 74.89 million, up by 65.80%, with an EBITDA margin of 14.56%. The consolidated PAT reached INR 23.02 million, growing by 47.19%, and the earnings per share (EPS) rose by 50% to INR 0.09.
Yatin Gupte, Chairman & Managing Director of Wardwizard Innovations & Mobility Ltd, stated “This quarter was significant for us as we secured a landmark order from Beulah International Development Corporation in the Philippines, reflecting the growing global trust in our technologies. We are expanding our reach within India and connecting with a broader customer base. With the festive season ahead, we are confident in further solidifying our position in the EV industry. The government's progressive Union Budget 2024-25, which fully exempts customs duty on critical materials like rare earth metals, further incentivises electric mobility.”
A significant milestone for Wardwizard in Q1 FY25 was securing a substantial order worth USD 1.29 billion from Beulah International Development Corporation, a major business integration and EPC firm in the Philippines backed by RP Connect. This strategic order includes the delivery of electric two-wheelers and three-wheelers from Wardwizard’s existing product portfolio, as well as the development and supply of four-wheelers for commercial applications in the Philippine market.
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