Penny Stock Under Rs 20: This Electric Vehicle Manufacturer Expands Fleet with 400 New Deployments Across Major Indian Cities
With a PE ratio of 114, the company trades at a premium compared to the industry PE of 45.9. The company has ROCE of 17.8 per cent and ROE of 14.79 per cent.
Wardwizard Innovations & Mobility Limited, a prominent electric vehicle manufacturer under the brands 'Joy e-bike' and 'Joy e-rik', is expanding its fleet operations by deploying 400 electric two-wheelers in Kolkata, Pune, and Ahmedabad. This expansion follows the successful deployment of 100 electric two-wheelers in Hyderabad, which has spurred demand from various industry players. The company is partnering with SpeedForcEV to offer technology-driven solutions for delivery partners and fleet operators.
Additionally, Wardwizard plans to enter the ride-hailing sector by deploying 200 L5 passenger electric three-wheelers in Maharashtra in collaboration with Cabeys. This initiative aims to provide auto drivers with better earning opportunities and offer commuters cost-effective transportation options. The company has also strengthened its EV charging infrastructure through a strategic collaboration with AmpVolts, ensuring seamless operations for the deployed fleet.
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Mr. Yatin Gupte, Chairman & Managing Director, stated, “The noteworthy success of our Hyderabad deployment has proven the efficiency and reliability of our integrated fleet solutions. With the deployment of 400 electric two-wheelers and the plan to deploy 200 L5 passenger electric three-wheelers in the ride-hailing sector, we are enhancing efficiency for both delivery partners and daily commuters through reliable, high-performance EVs.”
Wardwizard Innovations & Mobility Limited is a leading electric vehicle manufacturer in India, known for its brands Joy e-bike and Joy e-rik. The company launched its first low-speed electric scooter, the Butterfly, in 2018 and has since expanded its portfolio to include over 10 models of high-speed and low-speed electric two-wheelers and three-wheelers. In FY22, the company reported a 75 per cent increase in revenue from EV product sales, reaching Rs 317 crore, driven by a 99 per cent increase in per-unit realization despite a 12 per cent drop in units sold. Wardwizard has a robust distribution network with 22 company-owned retail outlets, 150 showrooms, and 750 dealers across 400 cities in India.
The company is also expanding internationally, with plans to establish a joint venture in Saudi Arabia and a significant order from Beulah International Development Corporation. Wardwizard's manufacturing facilities include a unit in Vadodara with an installed capacity of 1,20,000 units for two-wheelers and 40,000 units for three-wheelers. The company is also developing India's first EV ancillary cluster in Gujarat, focusing on manufacturing essential components for electric vehicles.
As of March 27, 2025, the current stock price of Wardwizard Innovations & Mobility Limited is Rs 20.11. The 52-Week High is Rs 73.55, and the 52-Week Low is Rs 21.59. Wardwizard Innovations & Mobility Limited has a market capitalization of Rs 524 crore. The company's 1-year return is -65.97 per cent, and the 3-year return is -73.63 per cent.
In the Quarterly Results of December 2024, the company reported a revenue of Rs 86.27 crore, reflecting a YoY decline of 18.84 per cent compared to Rs 106.29 crore in December 2023. The operating profit stood at Rs 12.12 crore, marking a 5.76 per cent increase from Rs 11.46 crore in the same quarter last year. However, the profit after tax (PAT) declined by 32.63 per cent to Rs 3.84 crore from Rs 5.70 crore in December 2023.
In FY24, the company posted a revenue of Rs 316.92 crore, registering a 32.65 per cent growth compared to Rs 238.91 crore in FY23. The net profit for the year stood at Rs 14.15 crore, up 49.89 per cent from Rs 9.44 crore in the previous financial year.
With a PE ratio of 114, the company trades at a premium compared to the industry PE of 45.9. The company has ROCE of 17.8 per cent and ROE of 14.79 per cent.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.