Wardwizard Innovations & Mobility Ltd

₹ 3.58 3.47%

12 Nov - close price

wardwizard.in BSE: 538970 NSE: WARDINMOBI

About

Wardwizard Innovations & Mobility Limited focuses to provide clean and greener alternatives to current ways of life through two star products, Joy E-Bikes and Vyom Innovations.

Key Points

Business Overview ^[1] ^[2]
The company is a leading electric vehicle manufacturer focused on sustainable mobility and innovative, eco-friendly transportation solutions. It offers 10+ EV models across 2Ws and 3Ws. The company has rolled out over 1.3 lakh EV units as of FY26.

Website BSE NSE - BZ

Market Cap ₹ 109 Cr.
Current Price ₹ 3.58
High / Low ₹ 11.2 / 2.92
Stock P/E
Book Value ₹ 4.82
Dividend Yield 0.00 %
ROCE 7.06 %
ROE 1.48 %
Face Value ₹ 1.00

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Pros

Stock is trading at 0.74 times its book value

Cons

Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -1.92%
Promoter holding is low: 22.3%
Company has a low return on equity of 6.66% over last 3 years.
Promoters have pledged 34.5% of their holding.
Company has high debtors of 289 days.
Working capital days have increased from 61.9 days to 124 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Automobile and Auto Components Automobiles 2/3 Wheelers

Part of BSE Consumer Discretionary

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	49.15	106.29	128.11	51.41	58.18	86.27	109.07	32.27	33.43	62.72	118.49	61.64	8.61
YoY Sales growth	-23.07%	+52.21%	+153.43%	+35.75%	+18.37%	-18.84%	-14.86%	-37.23%	-42.54%	-27.30%	+8.64%	+91.01%	-74.24%
	43.17	95.12	118.18	43.95	59.97	74.16	90.34	28.24	28.39	57.76	111.66	57.83	8.84
Operating Profit	5.98	11.17	9.93	7.46	-1.79	12.11	18.73	4.03	5.04	4.96	6.83	3.81	-0.23
OPM %	12.17%	10.51%	7.75%	14.51%	-3.08%	14.04%	17.17%	12.49%	15.08%	7.91%	5.76%	6.18%	-2.67%
	0.01	0.04	0.15	0.03	0.14	0.14	0.10	4.62	1.07	0.07	0.77	0.11	-0.00
Interest	0.94	1.60	1.87	2.88	3.79	6.60	7.12	5.66	4.51	3.46	5.02	2.69	4.43
Depreciation	1.65	1.73	1.75	1.49	1.52	1.62	2.05	1.52	1.54	1.54	1.37	1.16	1.16
Profit before tax	3.40	7.88	6.46	3.12	-6.96	4.03	9.66	1.47	0.06	0.03	1.21	0.07	-5.82
Tax %	25.29%	32.11%	38.54%	26.28%	-10.63%	4.96%	33.33%	23.81%	-133.33%	-0.00%	50.41%	-142.86%	0.17%
	2.55	5.35	3.97	2.30	-6.22	3.82	6.45	1.12	0.14	0.03	0.60	0.17	-5.83
EPS in Rs	0.10	0.20	0.15	0.09	-0.23	0.14	0.24	0.04	0.00	0.00	0.02	0.01	-0.19
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	0	-0	-0	0	185	239	321	305	247	251
Sales growth		-100%				+29%	+34%	-5%	-19%	-4%
	0	0	0	1	171	220	289	268	226	236
Operating Profit	-0	-0	-0	-1	14	19	32	37	21	15
OPM %	-1,167%			-1,238%	8%	8%	10%	12%	8%	6%
	0	0	0	0	1	0	0	0	7	1
Interest	-0	-0	-0	0	-0	1	5	20	19	16
Depreciation	0	0	-0	0	2	5	7	7	6	5
Profit before tax	0	-0	-0	-1	12	13	20	10	3	-5
Tax %	50%		-0%	1%	30%	33%	33%	36%	32%
	0	-0	-0	-1	8	9	13	6	2	-5
EPS in Rs	0.00	-0.00	-0.03	-0.12	0.32	0.33	0.50	0.24	0.06	-0.16
Dividend Payout %	-0%		-0%	-0%	-0%	29%	29%	41%	-0%

Compounded Sales Growth
10 Years:	%
5 Years:	%
3 Years:	1%
TTM:	-4%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	-40%
TTM:	-144%

Stock Price CAGR
10 Years:	-5%
5 Years:	-46%
3 Years:	-58%
1 Year:	-65%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	7%
Last Year:	1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	6	6	6	7	26	26	26	30	30
Reserves	0	-0	-0	3	62	75	79	120	115
	-0	0	-0	-0	14	85	199	153	168
	0	0	0	1	121	100	109	89	68
Total Liabilities	7	7	6	11	223	285	413	392	381
	0	0	0	0	53	54	52	47	44
CWIP	-0	-0	-0	-0	0	0	14	14	14
Investments	-0	0	0	0	-0	-0	-0	-0	-0
	7	7	6	11	170	232	347	332	323
Total Assets	7	7	6	11	223	285	413	392	381

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-0	4	0	-5	-18	-63	-69	8
	-0	-0	-0	-0	-21	-8	-19	-0
	0	-4	-0	7	34	64	93	-14
Net Cash Flow	0	-0	-0	1	-6	-6	4	-6
Free Cash Flow	-0	4	0	-5	-40	-70	-88	8
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	74%	-1,526%	-3%	503%	-77%	-191%	-189%	44%

Ratios

Consolidated / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	-0			456	25	76	186	289
Inventory Days	-0			7,446	131	124	122	106
Days Payable				584	87	94	117	103
Cash Conversion Cycle	-0			7,318	68	105	192	292
Working Capital Days	365			18,798	12	39	23	124
ROCE %		-0%	-2%	-10%		17%	12%	7%

Insights

In beta

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Jun 2025

Cumulative EV Customers Delivered
customers ・Standalone data

x,xxx	xx,xxx	xx,xxx	xxx,xxx	xxx,xxx
xxx	xxx	xxx	xxx	xxx
x,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx
xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
xx	xx	xx	xx	xx
		xx,xxx	xxx,xxx	xxx,xxx
			xxx	xxx

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Dealer Network Count
dealers ・Standalone data

EV Units Sold (Volume)
units ・Standalone data

Installed Annual Capacity (2W)
units per annum ・Standalone data

Number of EV Models
models ・Standalone data

Total Manufacturing Facility Area
sq ft ・Standalone data

Distributor Showrooms Count
showrooms ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	70.09%	70.46%	68.42%	67.46%	58.63%	54.52%	51.49%	47.13%	40.02%	35.41%	24.25%	22.33%
	0.00%	0.00%	0.04%	0.04%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00%	0.00%	0.00%	0.06%	0.00%	0.01%	0.01%	0.01%	0.13%	0.01%	0.01%	0.01%
	29.92%	29.55%	31.53%	32.44%	41.36%	45.48%	48.50%	52.86%	59.84%	64.58%	75.74%	77.65%
No. of Shareholders	81,148	90,830	1,18,235	1,49,284	1,81,227	1,89,647	1,90,571	1,88,347	1,86,645	1,87,489	1,83,325	1,79,882

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	69.89%	69.89%	69.89%	73.36%	66.86%	70.09%	70.09%	67.46%	47.13%	22.33%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.16%	0.10%	0.04%	0.00%	0.00%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.06%	0.01%	0.01%
	30.11%	30.11%	30.11%	26.64%	33.14%	29.75%	29.81%	32.44%	52.86%	77.65%
No. of Shareholders	531	534	535	545	4,414	61,521	79,208	1,49,284	1,88,347	1,79,882

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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