Wardwizard Inno.Q4 FY25Automobiles

Wardwizard Inno.

Q4 FY25 Earnings Call Analysis

Management growth scorecard

Revenue

Category 1

Margin

Category 1

Fundraise

Yes

Order

N/A

Capex

Yes

4 of 4 growth signals are positive — a strong management growth story.

Full analysis

Revenue guidance

Category 1

Future growth expectations for Wardwizard Innovations and Mobility Limited: - Vehicle sales target to increase from 44,000 units in the current year to about 75,000-80,000 units next year. - Sales volume expected to reach approx. 1,25,000 units by FY 2026. - Revenue projected to surpass INR 400 crores this financial year, with significant growth due to expanded distributor and dealer network. - Average selling price expected to rise from INR 72,000-1,25,000 currently to around INR 85,000, with inflation-driven increases anticipated. - EBITDA margins targeted to improve to 15%-16% from current mid-single digits, supported by cost savings from ancillary manufacturing units. - Additional 100 distributor showrooms planned within six months; total distributor showrooms to reach 250 by next financial year for better market coverage. - Company focusing mainly on expanding two-wheeler and three-wheeler production, with a 10 lakh INR price-point four-wheeler planned but not aggressively pursued.

Margin guidance

Category 1

→Target sales volume: 44,000 units in current year, aiming for 75,000-80,000 in next year, and 1,25,000 units by FY'26.
→Revenue: Currently around INR193 crores (YTD), targeting to surpass INR400 crores by year-end.
→EBITDA margins: Currently about 8%-12%, expected to rise by 8%-10% due to ancillary units manufacturing batteries and components.
→Net profit margins: Expected to increase from current ~8% to around 15%-16% in next 2-3 years.
→Ancillary units expected to contribute additional 3%-4% profit from next financial year onwards, enhancing profitability.
→Capex: Approximately INR250 crores equity planned for next financial year to support growth.
→Market share in EV segment aiming to increase from current 8%-9% to over 15% by next financial year.
→Working capital cycle favorable with distributors paying in advance and minimal receivables.

Get access to all 5 sections — revenue, margin, fundraise, orderbook, and capex — for Wardwizard Inno. and 1,400+ other companies.

Fundraise plans

Yes

→The company is looking to raise funds through both debt and equity options.
→For the next financial year, they anticipate requiring around INR 250 crores in equity capital.
→They plan to take debt primarily for working capital purposes.
→Capex related to capacity expansion and showroom network will be partly funded through borrowing.
→Distributor showrooms require investment by distributors themselves (INR 8 to 12 lakhs per showroom); no direct capex from company on this front.

Order book

→The transcript does not explicitly mention the current or expected order book or pending orders for Wardwizard Innovations and Mobility Limited.
→However, several growth projections and sales targets are discussed:
→ - Current year vehicle sales expected to reach around 44,000 units.
→ - Next financial year sales targeted at 75,000 to 80,000 units.
→ - FY26 sales projection around 125,000 units.
→Revenue guidance includes INR 1,000 to 1,200 crore turnover with approximately 15% EBITDA margin.
→Expansion plans include increasing distributor showrooms from 110 to 250 by next financial year.
→Steady demand for e-vehicles is mentioned but no specific order book figures provided in the available transcript.

Capex plans

Yes

→For the next financial year, the company plans approximately INR 250 crores capital expenditure in equity form.
→Capex related to expanding distributor network is minimal; showrooms require an investment of INR 8-12 lakhs for interiors, borne by distributors themselves.
→The company is borrowing funds and open to equity options for funding capacity expansion and ancillary unit setup.
→A capital outlay of around INR 2,000 crores is planned for an ancillary cluster, covering two-, three-, four-wheeler expansion and ancillary spare parts.
→Production capacity expansions are underway: Two-wheeler capacity at 450,000 units/year; three-wheeler capacity currently 18,000-20,000 units/year with plans to increase.
→The company aims to open 100 more distributor showrooms in six months and approximately 150 in the next financial year, totaling 250 showrooms.
→Exploring hydrogen battery technology with an 18-month development timeline, indicating a strategic technological investment.

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