Product Engineering

Onward reports a Revenue growth of 15% Y-o-Y to INR 56.72 Cr

Highlights for the quarter ended December 31, 2016
  • Consolidated revenues in Q3FY17 reported at INR 56.72 Cr, up 15.3% from INR 49.20 Cr in Q3FY16 & marginally down by 1% from INR 57.27 Cr in Q2FY17
  • Consolidated EBITDA reported at INR 4.88 Cr for Q3FY17 as against INR 3.29 Cr in Q2FY17 and INR 3.73 Cr in Q3FY16
  • Consolidated EPS (before tax) for the quarter is at INR 1.65
Other Important highlights for the quarter
  • The company has signed a new lease for additional space at World Trade Center in Pune.
  • Substantially strengthened its leadership team across sales, delivery and finance functions.
Commenting on the performance of the Company, Mr. Harish Mehta, Executive Chairman, said, “We continued to focus on revenue and margin enhancement. The Company’s operations have shown substantial growth, despite holidays in its traditional markets of US and Europe. The Company is expanding its business with current customers and has acquired significant number of new customers across various verticals. During this quarter we have also significantly expanded our leadership team” 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