Product Engineering

Onward Technologies Revenue Grows by 13.3% in FY17 Board Recommends Final Dividend at 10%

Highlights for the financial year ended March 31, 2017 (FY17)
  • Consolidated revenues closed at INR 226.22 Cr as against INR 199.63 Cr in FY16, a growth of 13.3%
  • Consolidated Profit after Tax was at INR 5.31 Cr as against INR 3.19 Cr, a YoY growth of 66.7%
  • Company declared an EPS of INR 3.52, up 63.1% against INR 2.16 in FY16
  • For the financial year ended March 31, 2017, the Board recommended a final dividend of Rs. 1 per share, to be confirmed at the 26th Annual General Meeting.
Highlights for the quarter ended March 31, 2017 (Q4 FY17)
  • Consolidated revenues in Q4FY17 reported at INR 58.88 Cr, up 13.8% from INR 51.75 Cr in Q4FY16 & up by 3.8% from INR 56.72 Cr in Q3FY17
  • Consolidated EBITDA reported at INR 3.67 Cr for Q4FY17 up 7.8% from INR 3.40 Cr in Q4FY16 & lower by 24.7% from INR 4.87 Cr in Q3FY17. QoQ dip is primarily attributed to higher one time revenue of Interest on IT Refunds in Q3 by of INR 1.00 Cr & higher expenses towards facility expenses due to capacity expansion in US, Pune & Chennai which happened in Q4FY17
  Commenting on the performance of the Company, Mr. Harish Mehta, Executive Chairman, said, “The Company’s revenues continued to grow Q-o-Q despite an unfavorable forex situation. The sales pipeline of the Company is quite positive indicating expansion in its business with current customers, as well as across new acquired customers. This sets us on the right momentum as we enter a new financial year, with our continued focus on revenue and margin enhancement.” About Onward Technologies Onward Technologies Limited is a global player in Mechanical Engineering Design Services and IT consulting services. The Company offers a range of engineering design services including product design, engineering analysis, engineering documentation and maintenance, and manufacturing solutions for automotive, off highway, aerospace, industrial equipment and consumer goods. With its footprints in India, North America, Germany and UK, the Company’s global design and delivery centres has grown to 2500+ employees servicing Fortune 1000 companies. The Company is listed on the following stock exchanges under the ISIN INE 229A01017: BSE Limited: Scrip Code: 517536 National Stock Exchange of India Limited: Scrip Code: ONWARDTEC For more information, please contact: info@onwardgroup.com