Wardwizard Innovations & Mobility Ltd (WARDINMOBI) — concall transcript | 31 December 2023

Wardwizard Innovations & Mobility reported 52% YoY revenue growth to ₹106.3 crores and 59% YoY net profit growth to ₹5.4 crores in Q3 FY24, driven by 70% QoQ unit sales growth to 9,065 vehicles. Management targets 250 showrooms by FY25, 18-month hydrogen battery launch, and expansion into GCC/Africa via partnerships. Margin improvement is expected through in-house battery manufacturing, with current EBITDA margin at 10.6%. The company projects EV market growth to $110.74B by 2029 and aims to increase market share beyond 15% next fiscal.