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WardWizard continues with strong sales momentum of electric two-wheelers in October 2021

WardWizard continues with strong sales momentum of electric two-wheelers in October 2021

Sells more than 2800 units in the month, YoY growth at 502 percent

New Delhi, 01 November, 2021: Riding on the high demand for its electric scooters and motorcycles, WardWizard Innovations and Mobility Ltd (BSE Code: 538970) – one of the country’s leading manufacturers of electric two-wheelers brand ‘Joy e-bike’ continued in achieving robust sales numbers in October 2021 as well.

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.

The company has further observed the double- digit growth of more than 14% as compared to last month (September 2021) where sales stood at 2500 units.

Commenting on the sturdy sales performance, Mr Yatin Gupte, Chairman & Managing Director, WardWizard Innovations and Mobility Ltd, said, “While our new automatic assembly line at Vadodara manufacturing plant is helping us meet the inflating demand, our 'Joy E-Bike’ experience centres across several locations are reinvigorating our marketing strategies to help us target more potential customers. This festival season has brought festive cheers across the country; we are receiving additional orders at all our touch points. We are further confident of high retail sales in the first week of November, especially on the occasions like Dhanteras and Diwali, achieving another benchmark in our sales momentum.”

Key Highlights of October 2021

Sales Milestone

Records highest ever sales of 2,500 units in September 2021

Network Expansion

· Inaugurated Exclusive company owned ‘Joy E-Bike’ experience center in Pune, Maharashtra

· Plans to open 3 more exclusive experience centers in Maharashtra in near future

Q2 FY’22 Results

· HIGHEST ever PAT at Rs. 1.61 crore in Q2FY’22 vs 27.98 lakh in Q2 FY’21.

· More than 5k units of electric scooters and motorcycles sold in Q2FY’22 vs 664 units in Q2 FY’21

· HIGHEST ever revenue at Rs. 33.51 crore in Q2FY’22 vs Rs.6.90 crore in Q2 FY’21.

About WardWizard Innovations & Mobility Limited

WardWizard Innovations & Mobility Ltd is a leading auto manufacturing company in the Electric Vehicle (EV) segment under the brand name Joy E-Bike. Being the first listed entity on BSE in Electric Vehicle manufacturing, it is mainly focused on the growth potential in the Indian EV segment to provide clean and greener alternatives to the existing usage of mobility, aligned with its philosophy of driving a positive change. Through Joy E-Bikes, the Company has been providing a greener alternative to traditional fuel-driven bikes. It has footprints in more than 25 major cities across India and aspires to boost this number throughout the country.

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