Wardwizard Innovations and Mobility Ltd Stocks you need to have
Wardwizard Innovations & Mobility Limited was founded on October 20, 1982, and is a publicly-traded corporation. In the year 2019, the Company’s control and management changed as a result of the Acquirers’ (Mr. Yatin Gupte and others) successful completion of an open offer on September 24, 2019.
On February 27, 2015, the company’s shares were floated on the Bombay Stock Exchange, and on June 9, 2020, the name was changed to Wardwizard Innovations & Mobility Limited. The company manufactures E-Vehicles and consumer durable/electrical items in a vast and sophisticated state-of-the-art plant in Vadodara, which is staffed by skilled commercial and technical personnel.
Let’s understand why you need to look at the stocks of Wardwizard Innovations & Mobility Limited.
While penny stocks are popular nowadays since most people are looking for quick gains in the face of inflation and other financial restraints, they should be avoided by conservative investors who cannot afford to lose money. Furthermore, while some of the fundamentally sound-but-not-so-popular penny stocks have the ability to earn good returns, they tend to hit lower circuits on a regular basis when the stock price falls.
Nonetheless, we’ll look at one such debt-free electric vehicle penny stock to keep an eye on:
Wardwizard Innovations and Mobility Ltd. is a newcomer to the electric vehicle market. The company is the first in the electric vehicle category to be listed on the BSE, with the core business of EV manufacture.
Wardwizard Mobility and Innovations
E-vehicles and consumer durable/electrical items are manufactured by a corporation situated in Vadodara, Gujarat. The company has opened its first-ever OEM unit in Vadodara as part of the country’s Make In India drive.
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The company aims to capture 25% of the Indian EV market.
The company is aggressively moving forward to deliver sustainable mobility solutions through its main brand, Joy e-Bike. Notably, companies that invest in EV manufacturing receive subsidies from both the federal and state governments. Wardwizard, for example, signed an MoU with the Gujarat government last year to invest Rs. 500 crore. The company plans to spend Rs. 50 crore on R&D for electric two- and three-wheelers, as well as building up a motor assembly plant in Vadodara and creating ancillaries to manufacture raw materials.
Aside from the four new high-speed motorcycles in its lineup, the company also wants to introduce a low-cost electric automobile by 2025 and is working on a three-wheeled EV.
Financials, stock price trend, and fundamentals of the company
According to the previous year’s data, the company’s income from operations increased dramatically to Rs. 58.11 crore in the December quarter of FY22, compared to Rs. io.68 crores a year ago. The company’s net profit has also been steadily increasing, reaching Rs. 2.87 crore in December.
The stock’s lifetime low and high prices are 4.31 and 100.57, respectively, while its 52-week low and high prices are 59.67 and 100.57, respectively. The stock was trading with a volume of 411319 in the afternoon hours on March 28, 2022. On the BSE, the stock was trading with a loss of almost 2% at Rs. 74.2 apiece at 1:29 p.m. on March 28.
Fundamentally, the stock is in good shape, as it has no debt. Nonetheless, the company intends to raise capital from the market in order to grow its capacity. The stock’s returns are extremely good, with an RoE of 11.3% and a RoCE of 12.7%. On the other hand, the stock is overvalued, with earnings not rising in lockstep with the stock price.
As a result, the company is being talked about because of its excellent line of business and the manner in which it is expanding and transforming the green mobility market. Though the company’s net earnings are currently quite low, if it can sustain and increase profits in the future, this stock can easily become one of the multi-baggers in the long run.