Highlights for the quarter ended September 30, 2017 (IND AS)
As per notification from Ministry of Corporate Affairs, Onward Technologies Limited migrated to IND AS effective 1st April 2017. Quarter ended Sep’17 standalone as well as consolidated results are prepared and submitted to stock exchange as per the new accounting standards.
Commenting on the performance of the Company, Mr. Harish Mehta, Founder & Executive Chairman, said, “The Company continued its positive momentum in the direction of top line as well as margins. Our pipeline guides us with growth opportunities across all our business units, which we believe will not only enable us to improve the quality of revenues, but also improve our margins. The recently released study on ER&D market by NASSCOM shows an addressable market of $ 215Bn, for Indian engineering services providers for product engineering, indicating huge potential for Onward Technologies engineering business.”
Other Important highlights for the quarter
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
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