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Onward Technologies Ltd. Earnings Release 2018

Oct 26, 2018

60726_rns_2018-10-26_958975f1-5a09-45fe-ab6e-fd6cbd9dd3ed.pdf

Earnings Release

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Press Release

For Immediate Release

Onward Technologies Revenue Grows by 8.5% QoQ, PBT Grows by 15.5%. Promoters increase the stake by 4.90%

Highlights for the quarter ended September 30, 2018

Consolidated revenues in Q2FY19 reported at INR 68.42 Cr, up 8.5% from INR 63.07 Cr in Q1FY19 & up by 6.6% from INR 64.19 Cr in Q2FY18
Consolidated EBITDA reported at INR 5.77 Cr for Q2FY19, up 8.5% from INR 5.32 Cr in Q1FY19
PBT reported at INR 3.70 Cr for Q2FY19, up 15.5% from INR 3.20 Cr in Q1FY19

Commenting on the performance of the Company, Mr. Harish Mehta, Founder & Executive Chairman, said, “Growth and profitability being the focus and the progress we made in first half year, the company has affirmed on its strategy to capitalise the growth opportunities. The company is confident that on the portfolios invested, it will start giving results while servicing clients at its best which is a paramount of importance.”

About Onward Technologies Limited

Onward Technologies Limited is a global player in Mechanical Engineering Design Services and IT consulting services. The Company offers a range of engineering design services including product design, engineering analysis, engineering documentation and maintenance, and manufacturing solutions for automotive, off highway, aerospace, industrial equipment and consumer goods. With its footprints in India, North America, Germany and UK, the Company’s global design and delivery centres has grown to 2500+ employees servicing Fortune 1000 companies.

The Company is listed on the following stock exchanges under the ISIN INE 229A01017: BSE Limited: Scrip Code: 517536