iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

WardWizard registers sales of 30k units of electric two-wheelers in FY22; Stock spurts 2%

4 Apr 2022 , 01:57 PM

WardWizard Innovations and Mobility Ltd, manufacturers of the country’s leading electric two-wheeler brand Joy e-bike closed the fiscal year (FY’22) with the highest-ever sales of 30,761 units, registering a growth of 702% amidst all the challenges. The company had sold 3,834 units of electric two-wheelers in FY’21.

Continuing with the strong sales performance with its popular range of electric two-wheelers, the company clocked sales of 5,020 units in March 2022, registering a growth of 328%, as compared to March 2021, when the company had sold 1,174 units of electric two-wheelers.

Closing the fiscal year with the blockbusting sales performance, Sheetal Bhalerao, Chief Operations Officer, WardWizard Innovations and Mobility Ltd, said, “4s the fastest growing EV brand, we are committed to delivering quality and advanced technology products to meet the aspirations of our customers. The continuous growth in sales is the testimony of our buyers’ trust in us.

In FY'23, the company will remain devoted to investing in R&D, diversifying of product portfolio, and strengthening its market presence. With the fuel prices touching the sky, we are observing another fast shift toward electric two-wheelers and are confident to create another sales benchmark.”

In FY’22, the company achieved significant milestones in strengthening its position in the industry. It acquired 4 Million sqft of land to develop India’s First-Ever Electric Vehicle Ancillary Cluster in Vadodara to promote the production of necessary raw materials locally. Expanded the annual production capacity from one lakh units to two lakh units in a single shift with the new automatic assembly line. The company further launched three new high-speed electric scooters including its first fleet management model and achieved the sales mark of 5K for the first time in March 2022.

At around 1:49 PM, Wardwizard Innovations was trading at Rs78.50 per piece higher by 2.15% on Sensex.

Related Tags

  • Joy E bikes
  • Wardwizard Innovations & Mobility
  • Wardwizard Innovations & Mobility announcements
  • Wardwizard Innovations & Mobility India
  • Wardwizard Innovations & Mobility launch
  • Wardwizard Innovations & Mobility Ltd
  • Wardwizard Innovations & Mobility market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Most Read News

Markets end the day on a flat note
24 May 2024|04:22 PM
Indian markets trade in green
24 May 2024|04:28 PM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.