Product Engineering

Onward Technologies Revenue Grows by 14.8% YoY

Highlights for the quarter ended June 30, 2017 (Indian GAAP)

  • Consolidated revenues in Q1FY18 reported at INR 61.42 Cr, up 14.8% from INR 53.50 Cr in Q1FY17 & up by 4.3% from INR 58.88 Cr in Q4FY17
  • Consolidated EBITDA reported at INR 5.18 Cr for Q1FY18 up 41.3% from INR 3.67 Cr in Q4FY17 & up by 66.4% from INR 3.11 Cr in Q1FY17.
  • EPS for the Quarter stands at INR 1.78
Other Important highlights for the quarter As per notification from Ministry of Corporate Affairs, OTL migrated to IND AS effective 1st April 2017. OTL Standalone 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 to move in a positive forward direction with good growth across 3 Business Units. Changes happening in the global technology sector, has opened up exciting opportunities for Onward Technologies. I believe we have put the right young Management Team in place to drive performance over the coming quarters.

I would also like to welcome Rahul Rathi & Parish Meghani who have both joined our Board of Directors this quarter. Their varying backgrounds & experience will add significant value to the Board & the Management team as we scale the business. ”

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