Synopsis:
Wardwizard Innovations & Mobility jumped sharply after it reported a sharp turnaround to profitability in Q2. The company made a net loss of Rs 6 crores in the corresponding quarter of the last year, but due to cost-efficient measures, it reported a net profit of Rs 14 lakhs in this quarter.
The shares of this leading EV manufacturer are in focus after reporting a stellar turnaround in this quarter. In this article, we will dive more into the details of its financial performance.
With a market capitalization of Rs 330 crore, the shares of Wardwizard Innovations & Mobility Ltd made a day high of Rs 11.15 per share, up by 15 percent from its previous day’s closing price of Rs 9.72 per share. Over the past five years, the stock has corrected by over 75 percent, underperforming NIFTY 50’s return of 102 percent.
Q2 Highlights
Wardwizard Innovations reported a core revenue of Rs 33 crore in Q2 FY26, a decline of 43 percent as compared to Rs 58 crore in Q2 FY25. However, on a quarter-on-quarter basis, it grew slightly by 4 percent from Rs 32 crore.
On the expenses front, it reported total expenses of Rs 34 crore in Q2 FY26, a decline of 47 percent as compared to Rs 65 crore in Q2 FY25. Additionally, on a quarter-on-quarter basis, it declined slightly by 3 percent from Rs 35 crore.
Regarding its profitability, it reported a net profit of Rs 14.37 lakh in Q2 FY26, a significant turnaround as compared to a loss of Rs 6 crore in Q2 FY25. However, on a quarter-on-quarter basis, it recorded a decline of 87 percent from Rs 1.12 crore.
Wardwizard Innovations & Mobility Limited is one of the major contributors to the electrification of transport in India. Their products include the Joy e-bike and Joy e-rik brands. As the first company to focus solely on EVs to be listed on the BSE, the company has a mission to deliver the cleanest and greenest solutions for mobility. Since vehicles powered by fuel are the main source of emissions, the company goes for the electric alternatives.
Wardwizard has made a strong presence in more than 400 cities across India by having a solid growth of more than 10 models, which are electrified versions of both low-speed and high-speed vehicles. The company is going to increase its reach all over the country by deepening its dealer network and launching new mobility solutions that will make it easier for India to adopt sustainable transportation.
Written by Satyajeet Mukherjee
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