What we do Wardwizard Innovations & Mobility Ltd is an Indian electric vehicle manufacturer producing electric scooters, bikes, and three-wheelers under the Joy e-bike brand, focusing on sustainable mobility solutions. |
Founded in 1,982 |
Market share Leading electric 2W player in India with 750+ dealerships and over 130,000 EV units sold; expanding into 3W and fleet services. |
Problem solved Provides affordable, eco-friendly electric mobility solutions reducing urban pollution and operational costs for personal and commercial users. |
Top clients or who we serve Serves B2C consumers and B2B fleet operators in India, expanding to international markets like Philippines; focuses on last-mile delivery and commercial transport sectors. |
Key management Mr. Yatin Sanjay Gupte - Chairman & Managing Director; leadership with 15 years in sales, marketing, and business development. |
Our journey and innovations Founded in 1982, pivoted to EVs in 2019; inaugurated India’s largest EV plant, launched multiple e-scooter/bike models, established R&D center in Singapore, and expanded battery assembly facilities. |
Where we operate Primary operations across India in 19 states with exports to international markets including the Philippines and plans for Saudi Arabia. |
Top products or what we offer Electric scooters, high-speed two-wheelers, electric rickshaws, and commercial three-wheelers under Joy e-bike and Joy e-rik brands. |
Top brands Joy e-bike (#1 in its category), Joy e-rik; renowned for diverse EV models, extensive dealer network, and growing fleet deployment. |
Raw materials needed Lithium-ion battery cells, electric motors, electronic components, vehicle chassis parts, and assembly materials. |
Raw materials supplier Collaborates with strategic partners including C4V (battery tech), and global suppliers for cells and components. |
Recurring vs cyclical contribution Revenue from product sales and recurring services including fleet operations and charging infrastructure services. |
Our industry position Positioned as a key EV 2W manufacturer in India with growing presence in 3W and fleet segments, supported by government incentives and innovation. |
Financial highlights FY25 revenue Rs 304.94 Cr; EBITDA Rs 36.93 Cr; net profit Rs 6.36 Cr; EBITDA margin around 12%; growing operational efficiency despite competitive market. |
Geographical revenue split Majority revenue from Indian market (approx. Rs 253.46 Cr) and growing international revenue (Rs 51.48 Cr). |
Order book - |
Whats driving growth Strong government EV policies, expanding product range, strategic partnerships, and rising adoption of EVs, especially in commercial fleet and urban transport. |
Our future plans Expand dealer network to 2,000+, launch new EV models, scale battery swapping infrastructure, enter Saudi Arabia market, and increase fleet leasing operations. |
Our green promise Committed to sustainability through EV manufacturing, reduced emissions, battery recycling, and ESG-aligned operations. |
Our people and values A workforce of 163 employees with focus on training, diversity, inclusion, and employee well-being through structured HR initiatives. |
Key challenges ahead Managing competitive market pricing, scaling supply chain for batteries, and meeting evolving regulatory standards. |
Interesting facts Recipient of fastest-growing EV brand awards; operational state-of-the-art plants producing up to 400,000 EV units annually; notable USD 1.29 billion export order. |
Risks and strategy Mitigates supply risks via strategic partnerships; growth driven by innovation and geographic expansion plans aligned with market demand. |
