Wardwizard Innovations Reports 62% Growth in Q4 EBITDA Despite Revenue Decline

Wardwizard Innovations & Mobility Limited reported a 62% year-over-year increase in consolidated profit after tax (PAT) for the fourth quarter of fiscal year 2025, despite a 14.86% decline in total revenue. The Vadodara-based electric vehicle manufacturer announced financial results on Thursday showing consolidated EBITDA growth of 86.76% compared to the same quarter last year.

For Q4FY25, the company recorded total revenue of ₹10,907.18 lakhs, down from ₹12,811.44 lakhs in Q4FY24. However, EBITDA rose significantly to ₹1,882.92 lakhs from ₹1,008.23 lakhs in the corresponding quarter of the previous fiscal year. EBITDA margin expanded by 939 basis points to 17.26%.

The company's PAT for the quarter stood at ₹644.63 lakhs, up from ₹397.40 lakhs in Q4FY24, with PAT margin improving by 281 basis points to 5.91%. Earnings per share increased to ₹0.25 from ₹0.16 in the previous year's quarter.

For the full fiscal year 2025, Wardwizard reported a 5.13% decrease in consolidated revenue to ₹30,494.22 lakhs, compared to ₹32,141.97 lakhs in FY24. While annual EBITDA improved by 13.88% to ₹3,693.07 lakhs, annual PAT declined by 52.68% to ₹635.71 lakhs.

Yatin Sanjay Gupte, Chairman & Managing Director of Wardwizard Innovations, attributed the improved quarterly performance to strategic initiatives undertaken during the year. The company expanded its electric fleet with over 400 two-wheelers deployed in Kolkata, Pune, and Ahmedabad, and launched L5 passenger e-rickshaws in Maharashtra.

Wardwizard has also formed partnerships with SpeedForceEV, AmpVolts, and Cabeys to scale mobility and charging solutions across key markets. The company has reduced prices across key models and continues to develop its charging network, while progressing on a $1.29 billion EV partnership in the Philippines.

Wardwizard Innovations & Mobility Limited, the first listed entity on BSE in Electric Vehicle manufacturing, operates under the brands 'Joy e-bike' and 'Joy e-rik'. The company offers more than 10 models in both high and low-speed categories and has established presence in over 400 cities across India.

The electric vehicle sector in India continues to evolve amid government incentives and growing environmental awareness, though challenges remain including infrastructure limitations and consumer adoption rates. Wardwizard's profit performance, maintained for five consecutive years according to company statements, comes as the broader EV industry faces competitive pressures and regulatory changes.