Enclosed herewith board approve Dividend of Wardwizard Innovations & Mobility Limited
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Awaiting price reaction for this filing.
The Board of Directors of Wardwizard Innovations & Mobility met on April 30, 2025 and approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, with auditors (VCA & Associates) issuing an unmodified opinion. The Board recommended a final dividend of Rs. 0.10 per equity share (10%) on the face value of Rs. 1 for FY 2024-25, subject to shareholder approval at the upcoming AGM. Standalone revenue from operations for FY25 stood at Rs. 30,241 lakhs versus Rs. 31,731 lakhs in FY24, while net profit fell to Rs. 679 lakhs from Rs. 1,415 lakhs, reflecting margin pressure. The filing also notes a pending show-cause notice from Nhava Sheva customs over a Rs. 12.36 crore differential duty demand (treated as contingent liability), delayed loan repayments, and an ongoing search by Income Tax authorities from February 2024. Additionally, the company has filed a draft rights issue of up to Rs. 4,900 lakhs which received in-principle BSE approval on March 27, 2025.
The Rs. 0.10 dividend is a modest payout and unlikely to materially impact stock price, but FY25 profit has nearly halved year-on-year, which is a negative signal for shareholders. The contingent customs liability, ongoing tax search, delayed lender repayments, and the upcoming rights issue are key risk factors investors should weigh.