Shares of one of India’s leading auto manufacturing companies in the Electric Vehicle (EV) segment surged nearly 4 percent on BSE to Rs. 44.57 on Monday, after signing an MoU with Ampvolts to develop advanced EV charging infrastructure in India and abroad.
With a market cap of Rs. 1,153 crores, at 01:37 p.m., the shares of Wardwizard Innovations & Mobility Limited were trading in the green at Rs. 44.23, up by nearly 3.1 percent, as against its previous closing price of Rs. 42.9.
What’s the news:
According to the latest regulatory filings with the stock exchanges, Wardwizard Innovations & Mobility Limited signed a Memorandum of Understanding (MoU) with Ampvolts Limited.
This strategic partnership is focused on promoting green mobility solutions by combining the strengths of both companies to develop a strong EV charging infrastructure in India and globally.
Under the agreement, Wardwizard Innovations will take a leading role in identifying key locations for the installation of EV charging stations and will serve as the primary partner for major projects. The company will also provide essential resources, including financial support, to assist in the creation of a comprehensive EV ecosystem.
In turn, Ampvolts Limited will support this partnership by supplying advanced EV charging equipment, including chargers and related hardware, to Wardwizard Innovations.
Additionally, Ampvolts will offer tailored CMS software solutions to manage payment gateways and online monitoring systems. The company will also provide its Battery as a Service (BaaS) offerings to Wardwizard’s B2B clients, delivering innovative solutions to enhance business operations.
About the Partner:
Ampvolts Limited, formerly known as Quest Softech (India) Limited, is a prominent EV charging station and infrastructure provider. It is a leading Charge Point Operator (CPO), EV charging hub & green mobility solution provider, bringing an entire range of ARAI-certified AC & DC chargers.
With a strategic B2B green mobility focus, ampvolts is powering the electric revolution with innovative and sustainable EV charging solutions designed to meet domestic & overseas requirements.
Financials:
Wardwizard Innovations reported a marginal growth in revenue from operations, experiencing a year-on-year increase of nearly 18.3 percent, rising from Rs. 49.2 crores in Q2 FY24 to Rs. 58.2 crores in Q2 FY25.
In contrast, during the same period, the company’s net profit decreased from a profit of Rs. 2.55 crores to a loss of Rs. 6.22 crores.
Key Financial Ratios:
In terms of key financial metrics, Wardwizard Innovations has a Return on Equity (RoE) of 14.2 percent and a return on capital employed (RoCE) of 17.4 percent. Additionally, the company’s debt-to-equity ratio stands at 1.81.
Stock Performance:
The stock has delivered negative returns of nearly 14.2 percent in one year, as well as around 14 percent returns in the last six months. So far in 2024, the shares of Wardwizard Innovations & Mobility have given negative returns of about 21.4 percent.
About the company:
Wardwizard Innovations & Mobility Limited is engaged in the business of manufacturing and selling electrical vehicles (EVs), spare parts and other related services. Further, the company is also engaged in the trading of home appliances, white goods and digital business process support services.
Written by Shivani Singh
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