Mumbai: Onward Technologies Limited on Thursday announced its financial results for the second quarter and half year ended 30 September 2026, with total revenue rising 22.2% year-on-year to ₹171.2 crore.
Financial Performance
The company's EBITDA stood at ₹26.6 crore, marking a 33.7% year-on-year increase, and the EBITDA margin expanded to 15.6%. Profit After Tax (PAT) for the quarter grew by 41.2% year-on-year to ₹16.8 crore.
Half Year Performance
For the first half of FY27, total revenue grew by 16.9% year-on-year to ₹322.4 crore, while EBITDA increased by 21.4% year-on-year to ₹44.9 crore. Diluted Earnings Per Share (EPS) for Q2 FY27 was ₹7.61.
Outlook Revised
Onward Technologies upgraded its FY27 revenue growth outlook to 15%-18% and its EBITDA margin outlook to 13.8%-14.3%. The company cited improved operational efficiency, offshore execution, and strategic customer engagements for its performance.
Business Highlights
During the quarter, Onward Technologies secured a multi-year contract renewal valued at ₹44.46 crore. The company continues to develop engineering solutions for AI-driven data centre infrastructure.
Workforce Expansion
In the first half of FY27, Onward Technologies added 432 net new employees, bringing its global workforce to 2,917 professionals. Jigar Mehta, Managing Director, stated that the performance was driven by deeper engagement with strategic customers and improved utilisation.
Debt-Free Balance Sheet
As of 30 September 2026, Onward Technologies maintained a debt-free balance sheet with net cash of ₹97.1 crore. The company has paid dividends for 11 consecutive years, according to the filing.
Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.
