Onward Technologies Secures ₹33 Crore Engineering Services Contract for 3 Years
Onward Technologies Limited has secured an engineering services contract valued at approximately ₹33 Crore over three years. The contract is for establishing a Dedicated Offshore Development Centre (ODC) to support a leading global power management company's Data Center Segment. The award is from a domestic entity.
The contract value of ₹33 Crore over three years is a notable business win, contributing to revenue and potentially expanding the company's service offerings, but its impact on the overall financials will depend on the scale of operations it supports.
The company has secured a new contract with a significant value, indicating business growth and positive development.
Onward Technologies Limited has announced the receipt of an engineering services contract from a leading global power management company. The contract involves the establishment of a Dedicated Offshore Development Centre (ODC) aimed at accelerating support for the client's Data Center Segment/Business Unit.
The aggregate value of this contract is approximately ₹33 Crore, to be executed over a period of three years. This engagement signifies a strategic step for Onward Technologies in providing R&D capacity to a major player in the power management sector.
Details of the contract, including its nature as Engineering Research & Development Services and its domestic origin, have been disclosed in accordance with SEBI (LODR) Regulations, 2015. The company has confirmed that promoters or their group companies do not have any interest in the awarding entity, and the contract does not fall under related party transactions.
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Onward Technologies Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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