Wardwizard Innovations’ share price plunged 9%, trading at Rs 43.5, while the BSE Auto Index remained steady at 54,714.9. The company’s significant decline comes despite the broader index showing resilience, with mixed performances among other notable auto sector stocks.
Tata Motors and TVS Motors were the top decliners in the BSE Auto Index, down 0.5% and 0.2%, respectively. In contrast, Balkrishna Industries and Cummins India emerged as the leading gainers, with gains of 0.7% and 0.4%, showcasing varied sector performance.
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Over the past year, Wardwizard Innovations has experienced a decrease in share value, moving from Rs 54.0 to Rs 43.5, registering a 19.5% drop. This decline is set against the backdrop of the BSE Auto Index’s impressive 49.1% gain during the same period.
Wardwizard Financials:
Financially, Wardwizard Innovations faced a significant challenge, reporting a 343.8% year-on-year drop in net profit for the September 2024 quarter, resulting in a Rs 62 million loss, compared to a Rs 26 million profit a year earlier. Net sales, however, rose by 18.4% to Rs 582 million.
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For the year ending March 2024, the company reported a 51.8% increase in net profit, reaching Rs 134 million, compared to Rs 89 million in FY23. Revenue also grew by 34.5% to Rs 3,214 million, showcasing substantial year-on-year growth in annual results.
Currently, Wardwizard Innovations has a rolling 12-month price-to-earnings ratio of 209.5, highlighting its valuation in the market amidst recent financial pressures and share price fluctuations.
