WardWizard inaugurates its new Global Headquarters in Vadodara

Vadodara:Wardwizard Innovations and Mobility Ltd (BSE Code: 538970) – one of the country’s leading two-wheeler electric vehicle manufacturer brands ‘Joy e-bike’ shifts to its new Global Headquarters in Vadodara.

· The New Global Headquarters is spread over20k sq ft

· New Global Headquarters in Vadodara was built with an investment of 100 million INR.

· The New Global Headquarters will generate more opportunities and employment for local people.

We are excited to move to our official global headquarters,” said Yatin Gupte (Chairman & MD, Wardwizard Innovations & Mobility Ltd) Making this move will improve efficiency, collaboration and cost-competitiveness, while providing an exceptional work environment for our employees.” He added

As this festival season bring in the much-awaited festive cheer resulting in high demand in the market, the company has sold 2,855 units of electric scooters and motorcycles, registering a growth of 502% compared to October 2020, where sales stood at 474 units.

Wardwizard have a state-of-the-art manufacturing facility in Vadodara, Gujarat, which has an annual production capacity of 200,000 electric two-wheelers in one shift. Further, with the government’s support and consistent awareness campaigns on the adoption of sustainable mobility, Wardwozard has also observed high growth in terms of sales numbers. Company is committed to the Make-in-India programme and the company will be introducing 100% localised high-speed electric scooters soon.

Half Yearly Financial Results

The company has recorded the highest ever revenue at Rs. 45.05 crore in Half Year FY’22 vs Rs.10.42 crore in Half Year FY’21 with more than 7000 nos. units of electric scooters and motorcycles sold in Half Year FY’22 vs 1677 units in Half Year FY’21. In comparison to annual figures of FY21, Wardwizard has already achieved the previous year’s figures in half year of FY22. The company has the projections of selling around 20K-25K units in this current financial year.