Low PE, High ROCE Multibagger Small-Cap IT Stock Reports Highest-Ever Quarterly Revenue of Rs 151 Crore; Share Price Jumps 5%
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Onward Technologies reported record quarterly revenue of Rs 151.2 crore in Q1 FY27, secured a Rs 33 crore offshore development centre contract and completed its share buyback programme during the quarter
✨ Key Takeaways
On Thursday, Indian equity benchmarks traded marginally higher, with the benchmark Nifty 50 index rising 18.25 points or 0.08 per cent to 24,096.75. Amid this broader positive, Onward Technologies share price gained 5.24 per cent or Rs 14.85 to Rs 298.45 after the company announced its financial results for the quarter ended June 30, 2026. Trading activity remained strong, with 46 lakh shares changing hands compared with the 30-day average trading volume of 9.09 lakh shares.
Onward Technologies Q1FY27 Financial Performance
Onward Technologies reported its highest-ever quarterly revenue of Rs 151.2 crore, registering an 11.5 per cent YoY and 8.7 per cent QoQ increase from Rs 135.6 crore in Q1 FY26 and Rs 139 crore in Q4 FY26, respectively.
The company's EBITDA increased 7.2 per cent YoY and 20 per cent QoQ to Rs 18.4 crore. EBITDA margin stood at 12.3 per cent, expanding 113 basis points sequentially from 11.2 per cent in the previous quarter.
Profit after Tax stood at Rs 11.2 crore, compared with Rs 12.7 crore in Q1 FY26, while increasing 16.9 per cent sequentially from Rs 9.5 crore reported in Q4 FY26. Diluted earnings per share stood at Rs 4.98 for the quarter.
Wins Rs 33 Crore Contract
During the quarter, the company secured a Rs 33 crore contract to establish a dedicated Offshore Development Centre (ODC) for a leading global power management company.
Onward Technologies also successfully completed its Q1 FY27 share buyback programme, reflecting the Board's confidence in the company's long-term growth strategy. Additionally, the number of clients generating more than USD1 million in annual billings increased to 18, compared with 16 in the previous quarter.
Also Read - MRPL Share Price Jumps 9% As Company Reports Q1 FY27 Results; Revenue Nearly Doubles
Management Commentary
Commenting on the results, Jigar Mehta, Managing Director, Onward Technologies, said the company delivered a strong start to FY27 with double-digit revenue growth, expansion in offshore delivery capabilities and continued progress across strategic accounts. He added that the company remains focused on profitable growth, operational efficiency and strengthening client relationships, while continuing to target double-digit revenue growth and double-digit EBITDA growth for FY27.
About Onward Technologies
Onward Technologies Ltd is a global digital engineering and Engineering Research & Development (ER&D) services company headquartered in Mumbai. Further, the company currently trades at a low PE of 14.2 while delivering a healthy ROCE of 22.9 per cent, reflecting efficient capital utilisation.
Onward Technologies provides software outsourcing, product engineering and digital transformation services to customers across automotive, industrial equipment, energy, healthcare, life sciences, rail transportation and data centre industries through its global delivery network.
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Disclaimer: The article is for informational purposes only and not investment advice.