Enclosed Outcome of the Board meeting dated 30th May, 2026
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Wardwizard Innovations & Mobility Ltd reported audited financial results for FY 2025-26 ending March 31, 2026. Standalone revenue declined to Rs 24,690 Lakhs from Rs 30,241 Lakhs in the previous year, a drop of about 18%. Profit after tax fell significantly to Rs 195.49 Lakhs from Rs 679.07 Lakhs. The auditors (VCA & Associates) issued an unmodified (clean) opinion on both standalone and consolidated results. The Board also approved a new Rights Issue of equity shares worth up to Rs 100 Crores to existing shareholders. A contingent liability of Rs 12.36 Crores exists related to a customs duty demand from Nhava Sheva, which the company has challenged in appellate authority. Additionally, the earlier Rights Issue proceeds of Rs 44.14 Crores have been fully utilized for working capital and general corporate purposes.
The significant revenue and profit decline may concern investors, though the clean audit provides some comfort. The new Rs 100 Crores rights issue could dilute existing shareholder value but may provide needed capital. The contingent customs liability poses potential future financial risk if the appeal is unsuccessful.