ANNUAL REPORT 2020 - 2021 ROARING TOWARDS INNOVATION Transforming the Urban Jungle to Our Habitat
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WARDWIZARD INNOVATIONS & MOBILITY LIMITED ANNUAL REPORT 2020 - 2021 ROARING TOWARDS INNOVATION Transforming The Urban Jungle To Our Habitat In a way, we all are fighting a common enemy- the rising threat of environmental pollution. With each of our initiatives, we make sure to propose something significant for mankind. Either it could be reducing the carbon footprints or finding a suitable and economical way of sustainable mobility. We are determined to do the impossible with sheer hard work and willpower. We intend to bring in innovation driven by passion. While setting up new milestones and conquering new horizons with our esteemed distribution network we intend to bring in the thought that Wardwizard is! “Transforming the Urban Jungle To Our Habitat with Roaring towards Innovation” That’s what DEFINES US! INDEX Corporate Overview Financial Highlights - Standalone Wardwizard at a Glance Independent Auditors’ Report on Key Performance Indicators Financial Statements Letter to Shareholders Annexure A Global Footprints Annexure B Board of Directors Balance Sheet Board Committees Final Significant Policy Awards and Accolades Statement of Profit and Loss Company Information Statement of Changes in Equity Product Portfolio Cash Flow Statement Infrastructure Notes to the Financial Statements Employee Opportunities Policies Factory Company Quality Research and Development Corporate Social Responsibility Financial Highlights Brand Initiatives Features & Coverages 2021 Annual Report CORPORATE OVERVIEW Wardwizard at a Glance 1st to be Listed in BSE Market Capitalization Range of Products 1st Listed Entity on BSE Market capitalization of 1st Indian manufacturer to (1st Electric manufacturer 1800 Cr in the year 2020 have 10+ model in both listed in BSE with the core high speed and lows peed business of EV Manufac- range turing. Around 6000 Employment Largest Audience Segment State-of-the-art OEM plant Opportunities Catering to all age groups One of India’s largest and The plant is estimated to from 16 to 60 years state-of-the-art manufac- generate around 6000 turing facility of electric direct and indirect em- two-wheelers ployment opportunities Corporate Overview - Wardwizard at a Glance Brand Initiation segment by rst introducing electric virtually inaugurated by Shri Amit Shah, Wardwizard Innovations & Mobility Lim- bicycles in the year 2016. And within no Hon'ble Minister for Home Aairs, Gov- ited, an innovation-driven company with time, they received great demand from ernment of India. The plant is estimated a current market capitalization of 1800 the youth. This success further charged to generate around 6000 direct and indi- Cr, is sitting comfortably at the top in the us to introduce low-speed two-wheelers rect employment opportunities in the sunrise segment. It is also the country’s like Gen Next, Glob, Wolf, and Monster, coming times and empower the locals. 1st Electric Vehicle Manufacturer which which didn't require any license or regis- got listed in BSE with the core business of tration to drive. These electric vehicles Current Roadmap EV Manufacturing. With a dedicated gained a tremendous amount of popu- And to add more towards our green management team under the direction larity amongst everyone right from 16 to initiative and thus to cater to the grow- of Mr. Yatin Gupte, Wardwizard has no 60 years. ing demand for high-speed e-bikes, we bounds when it comes to exploring the rst introduced E-Monster in 2019 and unexplored domains and acing it. State Of The Art Facility later Thunderbolt, Hurricane, Beast, and Flagship Brand’s Portfolio But we didn't just stop here, Wardwizard Skyline in Jan 2021. inaugurated one of India’s largest and Wardwizard’s agship brand Joy e-bike State of the art manufacturing fa- peddled its way into the EV cility of electric two-wheelers was 2021 Annual Report Key Performance Indicators Joy E Bike is the sole manufacturer Signed Rannvijay and 1st in EV Wardwizard Inno- Successful market Singha as the market to come up vations & Mobility penetration to Brand Ambassador with 4 high speed Ltd. records sales of Rajasthan - Madhya for Joy eBike to bikes launched on 951 Units for the Pradesh - Chhattis- target the youth of the inauguration Month of March garh India. day. 2021 Sept 20 Jan 21 Feb 21 Apr 21 Aug 20 Nov 20 Jan 21 Apr 21 Successful market JOY E BIKE 's State Wardwizard Inno- Wardwizard Inno- penetration to of the Art OEM vations and Mobili- vations & Mobility West Bengal and facility inaugurated ty Ltd. on boards Ltd. to be CSK’s Odisha by Honorable record breaking ocial electric Home Minister Shri 220 dealers to scale vehicle partner for Amit Shah up the sales. the upcoming IPL 2021 2021 Annual Report rics led by volume, realisation, and segment by 2025. We are new oerings. Boosting the sales grateful to the government backed by the growing demand of for emphasizing this industry, electric two wheelers in the entire as Electric Vehicles are the only solu- Letter to nation, the company sold more than tion towards a sustainable develop- Shareholders 1,623 units of electric two-wheelers ment for the nation, and this time it in Q4 '21 as compared to 929 units in will start from the state of Gujarat. We Q3’21. Registered the growth of more take it as our responsibility to make Dear and Esteemed Fellow Share- than 74.70% within a quarter for its available the most appropriate prod- holders, popular range of products including uct for our customers that are not the both electric motorcycles and only class-leading but also cost-eec- tive. With our recently inaugurated It gives me a huge prerogative to scooters. Watching events unfold throughout the year, we were keenly state- of-the-art facility in Vadodara write to you and present the focused on what we, as a company, and strong product portfolio, we are Annual Report for FY20. I hope this could do to serve. As a letter to share- committed to the government’s letter nds you safe and sound. holders, it is my pleasant duty to vision of growth.” Also, you will see inform you that recently, your compa- the accomplishments of a year that Mr. Yatin Gupte ny has reached the market capitaliza- was both innovative and exceptional. Managing Director & Chairman tion of 1800 Cr. All credit goes to our talented team of Wardwizard Innovations & Mobility Ltd employees — people who approach Atmanirbhar Bharat & Make their work with a passion for doing In India what’s right for our stakeholders and Challenging Year situation and, while strictly adhering to local guidelines, cautiously under- Inspired by the clarion call of Atman- what’s responsible for our sharehold- “As the intense impact of the COVID taking steps to resume operations. irbhar Bharat and Make in India by ers. We have positioned Ward Wizard Pandemic wave stretched across , The utmost precautions are in place our PM Shri Narendra Modi, we at to grow our great company, and we state governments imposed lock- at all touch points since the top prior- Wardwizard are happy to complete look forward to another year of downs and allied restrictions to ity remains the safety of our sta and the expansion in his soul vision. We strong performance and focused control the spread. Considering this customers. As the fuel prices have intend to manufacture all the parts improvement. scenario, customers preferred to remained stagnant on the higher & components of the electric defer their purchase decisions. Con- side, we are condent that demand bikes right from the chassis to batter- sequently, demand was muted and for electric two-wheelers will keep ies and manufacture a completely the automotive industry, in general, gathering robust momentum robust quality vehicle made especial- witnessed a slowdown in activities month-on-month.” ly for Indian Terrains for the growing demand for electric bikes. with most networks non-operational. Positive Outcome But given the stringent precautions and an ongoing nationwide vaccina- We are delighted to achieve a positive Outlook tion drive, active cases have begun outcome in one of the most challeng- With the growing demand for electric declining in most states. The Compa- ing years in the country. We have bikes, we expect to grab 25% market ny is closely monitoring the ground Achieved Growth across all key metr- share of the overall EV two-wheeler 2021 Annual Report Global Footprints India Uganda Europe Middle East Active presence Future presence Corporate Overview -Global Footprints Dealer / Distributorship Network State No. of Dealers/Distributors Gujarat 65 Maharashtra 49 Rajasthan 47 Bengaluru, Andhra Pradesh, Telangana 30 Madhya Pradesh / Chhattisgarh 24 Assam 20 Odisha 18 Kolkata 15 Uttar Pradesh 2 Patna 2 Delhi 2 Kerala 1 Overseas operations got on the worldwide map with impeccable man- ners. To add a few more stars to our Dealer/Distributorship network based in India, we are trying to channelise our Northern and Eastern Zone with major offline and online activities. 2021 Annual Report Board of Directors Yatin Gupte Sanjay Gupte Sneha Shouche Chairman and Managing Executive Director Executive Director and Director Chief Financial Officer Mukeshkumar Kaka Devyani Gupta Bhargav Pandya Non-Executive - Non-Executive - Non-Executive - Independent Director Independent Director Independent Director 2021 Annual Report Stakeholders Relationship Committee Board Committee Audit Committee Devyani Gupta Sanjay Gupte Mukeshkumar Kaka Chairman Chairman Member Stakeholders Relationship Committee Bhargav Pandya Yatin Gupte Mukeshkumar Kaka Chairman Member Member Nomination and Remuneration Committee Mukeshkumar Kaka Yatin Gupte Bhargav Pandya Chairman Member Member Mukeshkumar Kaka Devyani Gupta Bhargav Pandya Chairman Member Member Devyani Gupta Sneha Shouche Member Member 2021 Annual Report Awards and Accolades Outstanding Contribution for Environment Conservation and Innovative Product – Mr. Yatin Gupte (Wardwizard Solutions India Pvt. Ltd.) Received at "House of Commons London, UK Parliament”, in presence of Hon MPs organized by WBR (in association with Forbes India) and Ministry of Skill Development and Government of India.