Onward Tech Ltd. shares surged to an upper circuit of 20% on Friday, October 16, following the announcement of strong September quarter results. The transport solutions company reported a 41.7% year-on-year jump in net profit to ₹17 crore compared to ₹12 crore in the same quarter last year. According to reports from CNBC TV18, the company also achieved a 22.4% rise in revenue to ₹170.2 crore from ₹139 crore in the previous year. The Mumbai-based software solutions company, which has been listed since 1995, demonstrated robust operational performance across key financial metrics.
The company's profitability metrics showed significant improvement with EBITDA growing 34% to ₹26.6 crore compared to ₹19.9 crore in the last fiscal year. As reported by CNBC TV18, the EBITDA margin expanded by over 100 basis points to 15.6% from 14.3% in the previous year. This margin expansion indicates improved operational efficiency and cost management during the quarter. The strong EBITDA performance contributed to the company's overall profitability growth and positive market response.
According to CNBC TV18, Onward Tech shares are now trading at the upper circuit limit of ₹427.4, representing a 20% surge from previous levels. The stock recovered over 24% from intraday lows following the results announcement. The company's stock has demonstrated strong momentum with a 53% gain in the last month, turning positive on a year-to-date basis and trading 45% higher for the year so far. The current trading level of ₹427.4 represents a 52-week high, more than doubling from the 52-week low of ₹208.25, with the stock gaining in six out of the last 10 trading sessions.
As reported by CNBC TV18, Onward Tech operates as a specialized software outsourcing firm delivering comprehensive Digital and Engineering Research & Development (ER&D) services. The company provides strategic support across transportation & mobility, industrial equipment & heavy machinery, and healthcare & life sciences sectors. The Mumbai-based company maintains a market capitalization of over ₹950 crore and is listed on both BSE and NSE exchanges. The company has established a footprint across North America and Europe, positioning it as a global player in the transport solutions and software outsourcing industry.
