The Board of Directors ('The Board') of Wardwizard Innovations & Mobility Limited ('The Company') at its meeting held today, i.e Wednesday, 30th April, 2025, has transacted and approved ....
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The Board of Directors approved the audited standalone and consolidated financial results for Q4 and full year ended March 31, 2025. Statutory auditors VCA & Associates issued an unmodified opinion on the results. Standalone revenue from operations declined to Rs. 30,241.10 lakhs from Rs. 31,731.43 lakhs in FY24, a drop of about 4.7%. Profit after tax fell sharply to Rs. 679.07 lakhs from Rs. 1,415.16 lakhs in the previous year, with Q4 PAT at Rs. 649.47 lakhs versus Rs. 427.89 lakhs in the year-ago quarter. The Board recommended a final dividend of Rs. 0.10 per equity share (10% on face value of Re. 1), subject to shareholder approval. The auditors flagged an Emphasis of Matter on two issues: a contingent liability of about Rs. 12.36 crores from a Nhava Sheva custom authority show-cause notice, and delays in repayments to certain lenders beyond originally agreed dates. The company also filed a draft rights issue of up to Rs. 4,900 lakhs, which has received in-principle approval from BSE.
Mixed picture for shareholders: while a small dividend is declared and Q4 profits improved, full-year profits nearly halved, revenue shrank, finance costs jumped nearly four times, short-term borrowings surged from Rs. 72.5 crores to Rs. 192.6 crores, and operating cash flow remained deeply negative. The auditor's emphasis on custom duty exposure and delayed loan repayments, combined with the planned Rs. 49 crore rights issue, points to ongoing funding and legal pressures that investors should weigh carefully.