Onward Technologies Q1 FY27: Record Revenue of ₹151.2 Cr, Up 11.5% YoY
Onward Technologies reported record Q1 FY27 revenue of ₹151.2 crore, an 11.5% year-on-year increase. EBITDA grew 20% sequentially to ₹18.4 crore, with margins at 12.3%. The company secured a ₹33 crore contract and increased its $1M+ revenue clients to 18. It also completed its first share buyback.
The announcement details record financial performance, a significant new contract, and strategic investments, which are material positive developments for the company's growth trajectory and investor confidence.
The company reported record revenue, significant sequential growth in EBITDA and PAT, a new contract win, and an increase in high-value clients, all indicating strong operational performance and positive future outlook.
Onward Technologies Limited announced its Q1 FY27 results, marking a significant milestone with its highest-ever quarterly revenue of ₹151.2 crore, surpassing the ₹150 crore mark for the first time. This represents an 11.5% year-on-year and 8.7% sequential revenue growth.
The company's EBITDA increased by 20% quarter-on-quarter to ₹18.4 crore, with EBITDA margins improving by 113 basis points sequentially to 12.3%. Profit after tax (PAT) stood at ₹11.2 crore, a 16.9% sequential increase.
Key business highlights include winning a ₹33 crore contract with a leading global power management company from North America. The number of customers generating over $1 million in annual revenue increased from 16 to 18, indicating deeper client relationships and account penetration. The company also completed its first-ever share buyback program during the quarter, with promoters not participating.
Onward Technologies is strategically investing in digital engineering, ER&D, and offshore delivery expansion, leadership capabilities, and account mining. These investments are aimed at enhancing competitive differentiation, improving speed to value, and creating a scalable platform for future growth. The company is focusing on areas like software-defined products, AI-enabled engineering, automation, digital manufacturing, and intelligent products, particularly in data centers, AI, and energy sectors in North America and Europe.
During the quarter, the company's Chennai center is fully operational with several hundred employees, and a fourth design center in Pune is set to open in August. The company reiterated its commitment to delivering double-digit revenue growth and double-digit EBITDA margins annually.
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