Onward Technologies Delivers its Strongest-Ever Quarter; Total Revenue up 22.2% and EBITDA up 33.7% YoY; Raises FY27 Outlook
Mumbai (Maharashtra) [India], October 17: EBITDA margin expands to 15.6% and PAT up 41.2% YoY; FY27 outlook revised upward to 15–18% revenue growth and 13.8–14.3% EBITDA margin.
Onward Technologies Limited (BSE: 517536; NSE: ONWARDTEC), a pure-play digital engineering and ER&D services partner, announced its financial results for the second quarter and half year ended September 30, 2026.
The Company delivered its best performance this quarter in Q2 FY27, with total revenue of ₹171.2 crore, reflecting YoY growth of 22.2%. EBITDA stood at ₹26.6 crore, up 33.7% YoY, with an EBITDA margin of 15.6%. The improved performance reflects progress in operational efficiency, offshore execution and strategic customer engagements, supported by a healthy pipeline of opportunities across its key engineering verticals. Building on its Q2 performance, H1 execution and business visibility for the second half of the year, the Company now upgrades its FY27 revenue growth of 15%-18% and EBITDA margin at 13.8%-14.3%
Financial Highlights:
| Particlars (₹Crore) | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ | H1 FY27 | H1 FY26 | YoY |
| Total Revenue | 171.2 | 140.1 | 22.2% | 151.2 | 13.2% | 322.4 | 275.7 | 16.9% |
| EBITDA | 26.6 | 19.9 | 33.7% | 18.4 | 44.6% | 44.9 | 37.0 | 21.4% |
| EBITDA Margin (%) | 15.6% | 14.3% | 130 bps | 12.3% | 330 bps | 14.0% | 13.6% | 40 bps |
| Profit After Tax (PAT) | 16.8 | 11.9 | 41.2% | 11.2 | 50.0% | 27.9 | 24.6 | 13.4% |
| PAT Margin (%) | 9.9% | 8.6% | 130 bps | 7.5% | 240 bps | 8.7% | 9.0% | (30 bps) |
| EPS (₹) – Diluted | 7.61 | 5.23 | 45.5% | 4.98 | 52.8% | 12.56 | 10.80 | 16.3% |
Key Financial Highlights – Q2 FY27
- Strong Q2 growth: Total revenue increased by 22.2% YoY to ₹171.2 Crores, and EBITDA rose by 33.7% YoY to ₹26.6 Crores.
- Improved Profitability: Better utilisation, productivity, offshore execution and operating leverage supported profitability during the quarter.
- Healthy H1 performance: H1 revenue grew by 16.9% YoY while EBITDA grew by 21.4% YoY.
- PAT growth: Q2 PAT increase by 41.2% YoY.
- Full year outlook: Revising full year revenue growth outlook to 15%-18% and EBITDA around 13.8%-14.3%
Key Business Highlights
- Strategic Account Expansion: Secured a multi-year contract renewal valued at ₹44.46 crore
- Data centre Engineering: The Company continues to develop opportunities in engineering solutions for AI-driven data centre infrastructure, including power management, cooling and electrical systems.
Commenting on the results, Mr. Jigar Mehta, Managing Director, Onward Technologies, said:
