Wardwizard Q1 FY27: consolidated PAT crashes 85% YoY to ₹0.17 Cr despite 91% revenue surge

Wardwizard's consolidated Q1 FY27 (quarter ended June 30, 2026) revenue from operations rose 91.0% YoY to ₹61.64 Cr (₹32.27 Cr in Q1 FY26), but consolidated PAT fell 84.8% YoY to ₹0.17 Cr (₹1.12 Cr in Q1 FY26), with EPS down to ₹0.01 from ₹0.04. Sequentially the print is also soft — PAT is down 71.5% QoQ and revenue down 48.0% QoQ against Q4 FY26's ₹118.49 Cr / ₹0.60 Cr, though Q4 typically carries a year-end sales push for this dealership-led EV business. Standalone PAT of ₹0.19 Cr is marginally ahead of consolidated, the gap fully explained by a ₹2.27 Lakh loss at the wholly-owned Singapore subsidiary Wardwizard Global Pte Ltd.

The gap between strong topline growth and a near-wipeout of profit sits on the cost line: net profit margin compressed to 0.28% from 3.03% a year ago (and from 0.50% in Q4 FY26), while operating margin fell to 6.17% from 12.48% YoY. The proximate cause is a new ₹51.19 Cr 'Purchases of Stock-in-Trade' line that did not exist in either comparison quarter — cost of materials consumed simultaneously dropped to ₹2.84 Cr from ₹22.32 Cr YoY (₹88.69 Cr QoQ). Together this points to the company increasingly trading/reselling EV products and parts rather than manufacturing them in-house, a mix shift that lifts reported revenue but carries structurally thinner margins.

The stock went into the print at ₹6.54, down 5.2% over the past month of trading.

There is no prior formal guidance from management on record, and no analyst/street estimates were found for this quarter — Wardwizard carries limited brokerage coverage, so vsGuidance and vsStreet are both unknown. Management's own framing, in the results' Note 12, states it is 'exploring to augment sales of EV products and parts for better product aggregation and mix for margin enhancement' — this quarter's numbers show the opposite so far, with margins compressing rather than improving. Concurrent corporate actions this quarter include a ₹16 Cr ECLGS credit facility from HDFC Bank (Jun 30) for working-capital support, the May 30 board approval of a ₹100 Cr rights issue, and a proposed name change to 'Wardwizrd Innovations Limited' (Jul 7) — none move this quarter's P&L but bear on near-term capital structure. The board also flagged (Note 6) a ₹12.36 Cr contingent customs liability from a Nhava Sheva DRI show-cause notice, under appeal with no provision made; auditors issued an emphasis-of-matter but did not qualify the accounts.