Onward Technologies Reports Record Q1 FY27 Revenue of ₹151.2 Crore, Expands High-Value Customer Base
Onward Technologies Limited has kicked off FY27 with its strongest quarterly performance to date, reporting record revenue of ₹151.2 crore for the quarter ended June 30, 2026. The engineering research & development (ER&D) and digital transformation company delivered healthy growth across revenue, profitability, and customer expansion while securing a major international contract that strengthens its long-term growth pipeline.
The company attributed its strong performance to continued investments in digital engineering, offshore delivery capabilities, leadership talent, and emerging technology domains such as artificial intelligence (AI), data centers, and energy.
Record Quarterly Revenue Crosses ₹150 Crore
Onward Technologies achieved its highest-ever quarterly revenue, crossing the ₹150 crore milestone for the first time.
Q1 FY27 Financial Highlights
| Particulars | Q1 FY27 | Growth |
|---|---|---|
| Revenue | ₹151.2 crore | 11.5% YoY, 8.7% QoQ |
| EBITDA | ₹18.4 crore | 20% QoQ |
| EBITDA Margin | 12.3% | Up 113 basis points QoQ |
| Profit After Tax (PAT) | ₹11.2 crore | 16.9% QoQ |
The improvement in EBITDA margins reflects stronger operational efficiency, improved project execution, and a favorable business mix.
Major ₹33 Crore Contract Win Strengthens Order Pipeline
A key highlight during the quarter was the award of a ₹33 crore contract from a leading global power management company in North America.
The multi-year engagement further strengthens Onward Technologies’ presence in the global engineering services market and reinforces its expertise in delivering advanced engineering and digital solutions to international clients.
The contract is expected to contribute to future revenue visibility while deepening the company’s presence in high-value engineering programs.
Growth in Million-Dollar Customers
Onward Technologies continued to strengthen its relationships with large enterprise clients.
During the quarter, the number of customers generating more than US$1 million in annual revenue increased from 16 to 18.
This expansion reflects:
- Stronger customer retention
- Higher wallet share from existing clients
- Successful cross-selling of engineering and digital services
- Improved execution of long-term strategic engagements
Growing the number of high-value customers remains an important driver of sustainable revenue growth.
Strategic Investments Fuel Future Growth
Commenting on the results, Managing Director Jigar Mehta said the company’s record performance is the outcome of sustained investments in key growth areas.
These investments include:
- Digital Engineering
- Engineering Research & Development (ER&D)
- Offshore delivery expansion
- Leadership capabilities
- Artificial Intelligence (AI)
- Data center technologies
- Energy and industrial engineering solutions
The company aims to capitalize on increasing global demand for engineering transformation and digital product development services.
Successful Completion of First Share Buyback
Another notable milestone during Q1 FY27 was the successful completion of Onward Technologies’ first-ever share buyback program.
The buyback reflects management’s confidence in the company’s financial strength, future cash flows, and long-term business prospects while demonstrating its commitment to enhancing shareholder value.