Onward Technologies Ltd delivered its strongest financial performance on record for the financial year ended March 31, 2026. According to reports from The Hindu BusinessLine, the Mumbai-headquartered engineering services firm achieved consolidated revenue of ₹550.9 crore, representing a 10.5% year-on-year increase. The company's profit after tax surged 72.3% to ₹46.7 crore, while EBITDA jumped 60.9% to ₹71.9 crore, with margins expanding significantly to 13.2% from 9.1% a year ago. The PAT and EPS figures exclude a one-time exceptional charge related to the new labour code recorded in Q3 FY26.
For the fourth quarter ended March 31, 2026, Onward Technologies reported revenue of ₹139.0 crore, up 6.9% year-on-year. However, as reported by The Hindu BusinessLine, quarterly PAT declined 10.4% to ₹9.5 crore compared to Q4 FY25, and EBITDA margin contracted to 11.2% from 14.6% in the preceding quarter. Despite the quarterly decline, the company's annual performance remained robust across all key metrics.
The board recommended a dividend of ₹8 per share, up from ₹5 last year, marking the company's 11th consecutive annual dividend. According to The Hindu BusinessLine, despite the record annual numbers, the stock hit an intraday low of ₹231.10 before recovering partially to close at ₹243.40 on the NSE, falling over 4% on Tuesday. At its current price, the company's total market capitalisation stands at approximately ₹553 crore. The stock is down over 17% year-to-date and trades well below its 52-week high of ₹385.
Managing Director Jigar Mehta attributed the performance to operating leverage, cost discipline, and deeper engagement with strategic accounts. As reported by The Hindu BusinessLine, he indicated the company would focus on scaling its offshore model and strengthening vertical specialisation in FY27. The company's top 25 clients account for 88% of total revenues, while total headcount stood at 2,485 with trailing twelve-month attrition at 14.85%.
