Onward Technologies Reports Record Revenue of ₹151.2 Crore in Q1 FY27
Onward Technologies Limited has announced its financial results for the first quarter ending June 30, 2026, highlighting a period of significant growth for the global digital engineering and ER&D services provider. The company reported a total revenue of ₹151.2 Crore for the quarter, which represents an 11.5% year-on-year increase and an 8.7% sequential growth compared to the previous quarter.The company's operational performance was marked by steady expansion in earnings before interest, taxes, depreciation, and amortization (EBITDA). EBITDA rose to ₹18.4 Crore, reflecting a 7.2% year-on-year increase and a 20% sequential growth. The EBITDA margin improved by 113 basis points sequentially to reach 12.3%.
The financial performance for the quarter is detailed in the table below:
| Particulars (₹ Crore) | Q1 FY27 | Q1 FY26 | YoY% | Q4 FY26 | QoQ% | FY26 | FY25 | YoY% |
|---|---|---|---|---|---|---|---|---|
| Total Revenue | 151.2 | 135.6 | 11.5% | 139.0 | 8.7% | 550.9 | 498.5 | 10.5% |
| EBITDA | 18.4 | 17.1 | 7.2% | 15.3 | 20% | 71.9 | 44.7 | 60.9% |
| EBITDA Margin (%) | 12.3% | 12.9% | (60 bps) | 11.2% | 113 bps | 13.2% | 9.1% | 412 bps |
| Profit After Tax (PAT) | 11.2 | 12.7 | (12.3%) | 9.5 | 16.9% | 46.7* | 27.1 | 72.3% |
| PAT Margin (%) | 7.5% | 9.6% | (210 bps) | 6.9% | 52 bps | 8.6%* | 5.5% | 307 bps |
| EPS (₹) - Diluted | 4.98 | 5.57 | (10.5%) | 4.23 | 17.8% | 20.57* | 11.81 | 74.3% |
Profit After Tax (PAT) stood at ₹11.2 Crore for the quarter, showing a 16.9% sequential increase from the previous quarter, while the PAT margin was recorded at 7.5%. The diluted earnings per share (EPS) for the period amounted to ₹4.98.
Strategic Business Developments
Onward Technologies secured a significant contract valued at ₹33 Crore to establish a dedicated Offshore Development Center (ODC) for a leading global power management company. This expansion reinforces the company's footprint in providing scalable offshore delivery and domain expertise.The company also successfully completed its Q1 FY27 share buyback program. The completion of this program reflects the Board's confidence in the current business model, the company's ability to generate cash, and its prospects for long-term growth.
In terms of client portfolio growth, the number of clients billing over US$1 million increased to 18 in Q1 FY27, up from 16 clients in Q4 FY26.
Management Outlook
Jigar Mehta, Managing Director of Onward Technologies, described the first quarter as a solid start to the year characterized by strong revenue growth and expansion into strategic accounts. He highlighted that the company continued to expand its offshore delivery footprint while strengthening its Digital Engineering and ER&D capabilities.Mehta noted that the operational focus remains on profitable growth, improving delivery efficiency, and deepening client relationships. While acknowledging that quarterly performance in the industry can fluctuate due to program ramp-ups and customer decision cycles, he stated that the outlook for the year remains unchanged. The company continues to target double-digit revenue growth and double-digit EBITDA growth for FY27.
ONWARDTEC Stock Price Movement
Shares of Onward Technologies Limited are surging by 5.55% to ₹299.35 as of 1:44 PM today. The stock is seeing active participation with a volume of 2.22 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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