EV stock engaged in the manufacturing of motorcycles, scooters, mopeds, their engines, and many more in focus upon declaring its quarter ended March 2024 (Q4FY24) results with a 325 percent jump in Net Profits.
With a market capitalization of Rs. 1,674 Crores, the shares of Wardwizard Innovations & Mobility Limited were trading at Rs. 64.22, down 3 percent from its previous day’s close price of Rs. 66.25.
Wardwizard Innovations & Mobility Limited an auto manufacturing company engaged in the manufacturing of motorcycles, scooters, mopeds, their engines, and many more has announced its quarter/ year ended Q4FY24 results as follows
Its revenue from operations grew by 153.48 percent YoY from Rs. 50.54 Crores in Q4FY23 to Rs. 128.11 Crores in Q4FY24 and it grew by 20.54 percent QoQ from Rs. 106.28 Crores in Q3FY24 to Rs. 128.11 Crores in Q4FY24. Annually it generated a revenue of Rs. 238.92 Crores in FY23 and Rs. 321.41 Crores in FY24 indicating a growth of 34.52 percent YoY.
Its Net Profit grew by 325 percent YoY from Rs. 93.34 Lakhs in Q4FY23 to Rs. 3.97 Crores in Q4FY24 and it declined by 25.69 percent QoQ from Rs. 5.34 Crores in Q3FY24 to Rs. 3.97 Crores in Q4FY24. Annually it generated a profit of Rs. 8.85 Crores in FY23 and Rs. 13.43 Crores in FY24 indicating a growth of 51.45 percent YoY.
In Addition the Board of Directors of the company has recommended a Final Dividend of Rs. 0.15 per Equity Share with Face value of Rs. 1 for the Financial Year 2023-2024.
Wardwizard Innovations & Mobility Limited has presence across 400 cities in 19+ States & Union Territories with 750+ dealers, 100+ Showroom Distributors and 80,000+customers.
It has reported a return on equity (ROE) of 14.8 percent and a return on capital employed (ROCE) of 17.8 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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