EV Stock at Rs 55 Records 60 Per cent YoY Growth and Dispatches 1,623 Units of Electric Two-Wheelers in July 2024!

The company’s shares have delivered an impressive return of over 650 per cent to its shareholders.

Wardwizard Innovations & Mobility Limited is committed to offering cleaner and greener alternatives through its flagship products, Joy E-Bikes and Vyom Innovations. As a leading manufacturer of electric vehicles under the 'Joy e-bike' and 'Joy e-rik' brands, the company achieved a significant milestone in July 2024 by dispatching 1,623 units of electric two-wheelers. This represents a significant increase of over 60 per cent from July 2023, when the company dispatched 1,012 units. Additionally, Wardwizard Innovations & Mobility Limited reported a revenue of Rs 489.68 million for Q1 (April-June 2024) of FY'25, marking a year-over-year growth of 29.23 per cent.

Currently, shares of Wardwizard Innovations & Mobility Limited are at around Rs 55.50 per share. The company’s current market capitalization stands at Rs 1446.85 crore. Additionally, the shares have delivered a multibagger return of over 680 per cent in the past 5 years.

As per the Quarterly Results, in Q1 FY25, Wardwizard Innovations & Mobility Limited recorded a revenue of Rs 48.92 crore representing a growth of 29 per cent YoY from Rs 37.87 crore. The operating profit for Q1 FY25 stood at Rs 7.61 crore along with an operating profit margin of 15.56 per cent. The net profit for Q1 FY25 stood at Rs 2.42 crore compared to a profit of Rs 1.75 crore last year same quarter. Looking at the annual performance, the company generated a revenue of Rs 317 crore in FY24. The operating profit for FY24 was Rs 32 crore with a net profit of Rs 14 crore compared to a net profit of Rs 9 crore in FY23.

Investors must keep this Small-Cap company on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.