Enclosed herewith the Outcome of Meeting of Board of Directors of Wardwizard Innovations & Mobility Limited held on Friday 14th November, 2025.
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Wardwizard's board, which met on November 14, 2025, approved the unaudited standalone and consolidated financial results for Q2 and H1 FY26 (ended September 30, 2025). The auditor (VCA & Associates) issued a clean limited review report with no qualifications, though it flagged a contingent liability of Rs 12.36 crore from a Nhava Sheva customs show-cause notice. On a consolidated basis, Q2 revenue came in at Rs 33.43 crore (down sharply from Rs 58.18 crore a year ago), but the company turned a profit of Rs 14.37 lakhs versus a loss of Rs 6.22 crore in Q2 FY25. H1 FY26 profit after tax was Rs 1.26 crore versus a loss of Rs 3.91 crore last year. The board also approved a joint venture with a Saudi partner to set up an EV assembly and battery manufacturing plant in Saudi Arabia, with Wardwizard holding 49% and the partner holding 51%.
Sharp revenue contraction year-on-year remains a concern, but the return to profitability and the new overseas JV signal a strategic push into international markets that could aid long-term growth; shareholders should watch execution of the Saudi venture and resolution of the customs and income tax matters noted in the filing.