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18 Mar 2026
Wardwizard Innovations & Mobility Limited has announced a board meeting scheduled for Saturday, March 21, 2026, to consider several significant corporate matters. The company informed BSE Limited about the meeting in compliance with Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Agenda Items
The board meeting will address multiple critical business decisions that require board approval and regulatory compliance.
Agenda Item: Details Material Related Party Transactions: For Financial Year 2026-27 under Section 188 of Companies Act, 2013 and Regulation 23 of SEBI Listing Regulations Internal Auditor Appointment: Selection of internal auditors for Financial Year 2026-27 Postal Ballot Process: Notice preparation and scrutinizer appointment for transparent voting Share Capital Increase: Authorized share capital enhancement and memorandum alteration Additional Matters: Other items with chairperson and majority directors' permission
Regulatory Compliance and Approvals
The material related party transactions will require multiple levels of approval including audit committee recommendation, prior shareholder approval, and any other necessary statutory approvals. The transactions will be conducted in accordance with IND AS 24 accounting standards.
Share Capital Restructuring
The proposed increase in authorized share capital aims to facilitate the conversion of promoter or promoter groups' debt into equity shares of the company. This will require consequential alteration of the Capital Clause (Clause V) of the Memorandum of Association.
Corporate Governance Measures
The company plans to authorize the appointment of a scrutinizer to conduct the postal ballot process in a fair and transparent manner, ensuring compliance with the provisions of the Companies Act, 2013. The postal ballot notice will include a comprehensive calendar of events for stakeholder reference.
Company Information
Wardwizard Innovations & Mobility Limited trades on BSE with scrip code 538970 under the script ID WARDINMOBI. The company's registered office is located at Office No 4604, 46th Floor Kohinoor Square, Kelkar Marg, Shivaji Park, Dadar(West) Mumbai, Maharashtra, while its corporate office operates from Vadodara, Gujarat.
Wardwizard Innovations & Mobility Limited has released its comprehensive investor presentation for Q3FY26, detailing the company's strategic positioning in India's rapidly expanding electric vehicle market. The presentation, dated February 2026, outlines the company's growth trajectory and future expansion plans across multiple business segments.
Strategic Market Positioning
The company has positioned itself as a comprehensive EV solutions provider, focusing on the growing demand for electric two-wheelers and three-wheelers in India. The presentation highlights India's ambitious target of 30% EV penetration by 2030, supported by government initiatives including the FAME II scheme and the newly introduced PM E-DRIVE program.
Market Opportunity Details Global EV Market Projection $1,084 billion by 2029 Expected CAGR 6.63% India's EV Target 80 million EVs by 2030 Operational Savings Up to 70% compared to petrol vehicles
Manufacturing Infrastructure and Capabilities
Wardwizard operates state-of-the-art manufacturing facilities across multiple locations, demonstrating significant production capacity and operational efficiency.
Facility Parameter Specifications Gujarat 2W Facility 70,000 sq ft Gujarat 3W Facility 40,000 sq ft Jharkhand 2W Facility 15,000 sq ft Annual Capacity (Single Shift) 1,20,000 units for 2Ws Production Efficiency One 2-wheeler every 150 seconds Assembly Lines 1 semi-automatic line
Product Portfolio and Innovation
The company's diverse product range spans multiple vehicle categories, catering to various market segments and customer requirements. The portfolio includes high-speed scooters like the newly launched "Nemo" model, eco-friendly variants such as the Wolf Eco, and electric bikes designed for urban mobility.
The three-wheeler segment features the Joy E-Rik V1 (L5) series, including passenger and loader variants, along with specialized e-carts for waste management and community transport. All products come with comprehensive warranty coverage, with batteries covered for 36 months or 1.20 lakh kilometers and products warranted for 12 months.
Fleet Operations and Strategic Partnerships
A key growth driver highlighted in the presentation is the company's integrated EV fleet operations model. The company has deployed EV 2Ws across major cities including Kolkata, Pune, and Ahmedabad, with aggressive expansion planned for Chennai, Mumbai, and other metros.
Fleet Operations Metrics Performance Daily Usage Range 60-120 km Total Cost of Ownership ₹1.39-₹1.71 per km ICE Vehicle Comparison ₹2.30 per km Target Partners Zomato, Swiggy, Flipkart, Amazon, BigBasket
The company has established strategic partnerships with SpeedForceEV and AmpVolts to strengthen its fleet capabilities through battery-swapping and charging infrastructure. These collaborations aim to reduce vehicle downtime and enhance operational efficiency for delivery partners.
Technology and R&D Initiatives
Wardwizard's Singapore-based subsidiary, Wardwizard Global PTE Ltd., focuses on advanced battery technology development. The facility is working on pack assembly production lines and collaborating with Nanyang Technological University (NTU) for cell fabrication and LFP battery R&D.
Key R&D focus areas include:
Cell chemistry advancements for enhanced power density
Smart Battery Management Systems (BMS) with thermal analysis
ANSYS simulations on battery packs
AI data analysis for long-term battery performance
Partnership with A&S for next-generation Li-Ion cell technology
Recognition and Market Validation
The company has received multiple industry recognitions, including the 'Inspiring SME of the Year - Manufacturing & Services' award at the 23rd India SME Excellence Awards. Joy e-bike, the company's flagship brand, was awarded 'India's Fastest Growing E-Bike Manufacturer' at the DNA Auto Awards 2024.
Future Growth Strategy
The presentation outlines ambitious expansion plans including international manufacturing facilities in the Philippines and Saudi Arabia. The company aims to capitalize on India's push for 80 million EVs by 2030 and supportive policies including potential Central Subsidy under FAME III initiatives.
With India currently having around 2,600 battery swapping kiosks and government estimates indicating a need for 26,000+ kiosks by March 2026 and 111,000 by FY2030, Wardwizard is well-positioned to benefit from this infrastructure expansion through its strategic partnerships and integrated fleet operations model.
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