Business News | Onward Technologies Reports Record Revenue of Rs. 151.2 Crore in Q1 FY27 (Up 11.5% YoY and 8.7% QoQ), EBITDA Grows 7.2% YoY and 20% QoQ to Rs. 18.4 Crore

BusinessWire India

Mumbai (Maharashtra) [India], July 16: Onward Technologies Limited (BSE: 517536; NSE: ONWARDTEC), a global digital engineering and ER&D services partner, announced its financial results for the first quarter ending June 30, 2026.

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Financial Highlights:

* Excluding one-time exceptional item due to new labour code in Q3 FY26

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Key Financial Highlights - Q1 FY27

* Total Revenue of Rs. 151.2 Crore, up 11.5% YoY and 8.7% QoQ.

* EBITDA of Rs. 18.4 Crore, up 7.2% YoY and 20% QoQ, with EBITDA margin expanding 113 bps sequentially to 12.3%.

* Profit After Tax (PAT) of Rs. 11.2 Crore, up 16.9% QoQ; PAT margin at 7.5%.

* Diluted EPS of Rs. 4.98 for the quarter.

Key Business Highlights

* Won a Rs. 33 Crore contract to set up a dedicated Offshore Development Center (ODC) for a leading global power management company.

* Successfully completed the Q1 FY27 share buyback programme, reflecting the Board's confidence in the Company's business model, cash generation capabilities, and long-term growth prospects.

* Number of clients billing over US$1 million rose to 18 in Q1 FY27 (from 16 in Q4 FY26).

Commenting on the results, Mr. Jigar Mehta, Managing Director, Onward Technologies, said:

"Q1 FY27 was a solid start to the year. We delivered a total revenue of Rs. 151.2 crore, representing a strong YoY growth of 11.5% and a sequential growth of 8.7% over Q4 FY26. We continued to make progress across our strategic accounts, expanded our offshore delivery footprint, and strengthened our Digital Engineering and ER&D capabilities. Operationally, we remain focused on profitable growth, improving delivery efficiency and deepening client relationships, and I am pleased to share that our EBITDA for the quarter was Rs. 18.4 crore, a 20% sequential growth, with EBITDA margins at 12.3%. While quarterly performance in our industry can vary based on programme ramp-ups and customer decision cycles, our outlook for the year remains unchanged. We continue to target double-digit revenue growth and double-digit EBITDA growth for FY27 and remain confident in our ability to create long-term value through disciplined execution and operational excellence."

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