Onward Technologies Limited · NSE:ONWARDTEC
Onward Technologies — Q1 FY2027 Earnings Presentation
31 slides from Onward Technologies's earnings presentation, Jul 16, 2026
Slide 1: Cover letter to stock exchanges
Ref No.: OTL/Secretarial/SE/2026-27/40 Date: July 16, 2026 To, Bombay Stock Exchange Limited National Stock Exchange of India Ltd., Phiroz Jeejeebhoy Towers, Plot No. C/1 'G' Block Dalal Street, Mumbai – 400023 Bandra – Kurla Complex Bandra East, Mumbai 400051 Ref: Scrip Code - BSE: 517536 NSE: ONW
Slide 2: Earnings Presentation Q1 FY27
EARNINGS PRESENTATION Q1 FY27 July 16, 2026
Slide 3: Agenda
Agenda 01 Industry and 02Financial 03 Annexure Company Overview Performance
Slide 4: Disclaimer
Disclaimer No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the d
Slide 5: Industry and Company Overview
01 Onward Technologies Industry and Company Overview
Slide 6: A Global Engineering & Research Partner
A Global Engineering & Research Partner GLOBAL SCALE REVENUE MIX (FY26) FINANCIALS CLIENT STRENGTH 2,600+ 63% ₹127.3 Cr 100% Global Industrial & Heavy Net Cash Overseas clients; 70% Employees Machinery North America, 30% Europe 12+ 34% ~₹0 70+ Offices Transportation & Net Debt Active Clients Worldwi
Slide 7: Global ER&D: A Structural Spending Supercycle
Global ER&D: A Structural Spending Supercycle GLOBAL ER&D MARKET (TAM) ER&D Outsourcing ($ Bn) >$2.5 Trillion by 2030 • growing at 8-9% CAGR 133 135 81.5 India engineering offshoring is the prime beneficiary, projected to compound at ~22% CAGR as OEMs deepen outsourcing. CY2024 CY2030P (low) CY2030P
Slide 8: Managing Director's Message
Managing Director’s Message “ Q1 FY27 was a solid start to the year. We delivered a total revenue of ₹151.2 crore, representing a strong YoY growth of 11.5% and a sequential growth of 8.7% over Q4 FY26. We continued to make progress across our strategic accounts, expanded our offshore delivery footp
Slide 9: Industries Onward Technologies Cater
Industries Onward Technologies Cater Advancing rail mobility through digital twins, intelligent signaling, Supporting power generation IoT, and smart passenger systems, electrification, experiences for safer, greener, Driving off-highway innovation thermal management, and and more efficient operatio
Slide 10: Smart Solutions Product Lifecycle
Smart Solutions How we help engineering & manufacturing clients embed smart solution at every phase from concept to service Smart Smart Thinking Products Product Owner Product Lifecycle Smart Smart Experience Manufacturing Customer 9
Slide 11: Smart Offerings
Smart Offerings How we help engineering & manufacturing clients embed smart solution at every phase from concept to service Technology Areas Smart Thinking Smart Products • Market & feasibility • Connected Products analysis • NPI / CPI • Artificial Intelligence • Technology roadmap & • Analysis and
Slide 12: Strategic Positioning
Strategic Positioning Global leader in Digital and engineering research & development (ER&D) Agile & cost efficiency Digital Investments Ensuring efficient resource allocation and Active Investments in Gen AI, AI/ML, IoT, and optimized billing rates driving significant cybersecurity to drive digital
Slide 13: Competitive Advantage
Competitive Advantage Consistent delivery of value and innovation positions Onward Technologies as the preferred partner over its competition. Complete Cost advantage ownership across Consistent 20% cost saved the entire delivery, by proven product and underpinned by Razor-Sharp Opex-to-Capex long-t
Slide 14: Deployment of IoT Asset Utilisation Monitoring Platform - Case Study
Deployment of IoT Asset Utilisation Monitoring Platform - CASE STUDY Limited Customisation Rising Licensing Costs PROBLEM No Real-Time Visibility The client operated a fleet of 180+ industrial machines across three manufacturing sites and relied on a third-party SaaS platform for asset Integration C
Slide 15: Financial Performance
02 Onward Technologies Financial Performance
Slide 16: Financial & Operational Performance
Q1 FY27 Performance Highlight All Figures in Rs Cr Financial & Operational Q1 FY27 HIGHLIGHTS - STRATEGIC WINS • Won a ₹33 cr contract to set up a dedicated offshore development Performance center (ODC) for a leading global power management company Total Revenue EBITDA 8.7% 20% ₹151.2 cr QOQ ₹18.4 c
Slide 17: Financial Highlights - Q1 FY27
Financial Highlights - Q1 FY27 All Figures in Rs Cr Total Revenue ▲ 11.5% YOY EBITDA ▲ 7.2% YOY PAT 12.3 %YOY ▲ Margin: 12.9% → 12.3% Margin: 9.6% → 7.5% 135.6 151.2 17.1 18.4 12.7 11.2 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Total Revenue ▲ 8.7% QOQ EBITDA ▲ 20% QOQ PAT ▲ 16.9% QOQ Margin:
Slide 18: Quarterly Income Statement
Quarterly Income Statement Particulars (₹ cr) Q1FY27 Q1FY26 Y-o-Y Q4FY26 Q-o-Q Revenue from Operations 149.4 133.2 12.2% 137.1 9.0% Other Income 1.7 2.5 (29.9%) 1.9 (10.1%) Total Revenue 151.2 135.6 11.5% 139.0 8.7% Employee Benefits Expenses 109.3 98.1 11.3% 102.0 7.1% Other Expenses 21.8 17.9 21.9
Slide 19: Revenue Mix Across Four Dimensions
Revenue Mix Across Four Dimensions Revenue by Industry (%) Revenue by Geography (%) 3% 3% 4% 32% 31% 36% 53% 50% 47% 12% 13% 65% 65% 13% 59% 34% 38% 40% Q1 FY26 Q4 FY26 Q1 FY27 Q1 FY26 Q4 FY26 Q1 FY27 IEHM T&M HCLS USA Europe India Revenue by Contract Type (%) Revenue by Engagement Model (%) 11% 13%
Slide 20: Revenue by Client base
Revenue by Client base Revenue by Client Concentration (%) Number of clients billed over US$1mn Revenue per Client (₹ cr) Q1FY26 Q4FY26 Q1FY27 87 63 18 88 2.1 46 16 16 1.9 1.7 64 47 85 63 48 Top 5 clients Top 10 clients Top 25 clients Q1FY26 Q4FY26 Q1FY27 Q1FY26 Q4FY26 Q1FY27 19
Slide 21: Strategic Priorities
Strategic Priorities Targeting double-digit Revenue and Wallet Share & EBITDA growth over mid and long term Billing Growth To be driven by: AI-Led Capability Enabled by: Aspire to achieve ₹30 - 40L Build-Out • Deeper Customer • Strategic Account Revenue/Employee To be achieved by: Expansion & Higher
Slide 22: Investment Thesis
Investment Thesis Sticky, High-Value Client Base • Top-25 clients ~87% of revenue (up from 84% in FY24) on multi-year MSAs • $1mn+ accounts up to 16 (from 11 in FY22) as active clients focus from 145 to 72, lifting revenue per client 3.6x since FY22 Pivot to High-Margin Digital Engineering • ~71% of
Slide 23: Sticky & High-value Client Base
Sticky & High-value Client Base Pruning clients, increasing wallet-share from high-value clients, and deepening client stickiness Revenue by Client Concentration (%) 16 clients now bill over US$1mn Growing Revenue per Client (₹ cr) FY24 FY25 FY26 87 64 7.6 84 16 48 13 13 6.1 66 5.6 50 84 66 50 Top 5
Slide 24: Shift to High-Margin Digital Engineering
Shift to High-Margin Digital Engineering Revenue by Engagement Type (%) Revenue by Contract Type (%) 14 14 12 31 28 29 86 86 88 69 72 71 FY24 FY25 FY26 FY24 FY25 FY26 Offshore Onsite Time & Material Fixed 23
Slide 25: Strong Financial Position
Strong Financial Position ROCE & ROE (%) CFO / EBITDA (x) 1.19 25 0.91 23 0.71 18 17 19 13 FY24 FY25 FY26 FY24 FY25 FY26 ROCE ROE Net Working Capital (₹ Crore) DSO (Days) 72 76 75 191 145 162 FY24 FY25 FY26 FY24 FY25 FY26 24
Slide 26: Annexure
03 Annexure
Slide 27: Company Milestone
Company Milestone 01 02 03 04 05 06 07 1991-99 2001-15 2016-20 2021-22 2023-24 FY25 FY26 Founded by Set up 100% Jigar Mehta Infinity Holdings Recognized for Total Revenue Record Total Harish Mehta, subsidiaries in appointed MD; ISO acquired 24.2% 30+ years ₹498.5 cr; Revenue ₹550.9 a first- USA & &
Slide 28: Consolidated Income Statement
Consolidated Income Statement ₹ Crore Particulars FY26 FY25 FY24 Revenue from Operations 543.9 491.3 472.4 Other Income 7.0 7.2 7.3 Total Revenue 550.9 498.5 479.7 Employee Benefits Expenses 395.8 380.1 357.7 Other Expenses 76.2 66.5 62.5 Total Expenses 472.0 446.6 420.2 EBITDA 71.9 44.7 52.2 EBITDA
Slide 29: Consolidated Balance Sheet
Consolidated Balance Sheet ₹ Crore Particulars FY26 FY25 FY24 Property, Plant & Equipment 47.8 31.4 32.4 Right-of-use Assets 37.3 31.4 27.7 Intangible Assets (incl. under dev.) 3.7 3.7 3.1 Other Non-current Assets 18.7 28.6 25.9 Total Non-current Assets 107.5 95.1 89.1 Trade Receivables (Billed + Un
Slide 30: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement ₹ Crore Particulars FY26 FY25 FY24 Profit Before Tax 57.0 36.3 45.2 Non-cash & Non-operating Adjustments 14.3 11.1 13.7 Working Capital Changes 10.7 (9.7) 5.4 Income Taxes Paid (17.0) (6.1) (2.0) Net Cash from Operating Activities (A) 65.1 31.5 62.3 Purchase of PP&E
Slide 31: Thank You
Thank You Investor Relations Contact: Luv Gupta Priya Sen Go India Advisors Go India Advisors E: luv@goindiaadvisors.com E: priya@goindiaadvisors.com M: +91 - 8690588581 M: +91 - 8334841047 Company Contact: E: investors@onwardgroup.com
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