Latest news with #JigarMehta
Business Wire
01-08-2025
- Automotive
- Business Wire
Onward Technologies Expands Footprint in Birmingham, UK and Munich, Germany With Offices Close to Clients
BIRMINGHAM, England & MUNICH--(BUSINESS WIRE)--Onward Technologies, a digital engineering services provider, has announced the strategic relocation of its UK office to Birmingham and its Germany office to Munich. These offices bring Onward Tech's teams closer to its Transportation & Mobility clients, reinforcing its commitment to delivering value where innovation is happening fastest. 'The new offices in the UK and Germany reflect our global strategy of investing in Europe and the positive momentum we're witnessing for our technical capabilities and services. This expansion is a testament to our focus on combining global scale with local agility,' said Jigar Mehta, Managing Director, Onward Technologies. Onward Tech partners with automotive and industrial equipment manufacturers to accelerate digital engineering programs through its global delivery model. With growing demand for offshore services across Europe, the company is investing rapidly to support clients' transformation agendas. Onward Tech is committed to investing further in Europe and has plans to initiate local hiring in the region. Being close to its clients enables Onward Tech to respond swiftly to dynamic client imperatives and mirror these in its solution approach. The company's India operations include dedicated offshore delivery centers and labs in Pune, Chennai, Bengaluru, and Hyderabad. These centers offer its clients offshore leverage and access to an expert talent pool across digital, embedded, and mechanical engineering services. Automotive and industrial equipment manufacturers are undergoing major shifts in product development, focusing on alternative powertrains, autonomous mobility, Industry 4.0, and AI/ML-driven R&D. Onward Tech remains deeply aligned with these priorities, helping clients digitalize the product lifecycle, adopt platform-based development, and unlock new revenue streams through differentiated features. About Onward Technologies Onward Technologies (BSE: 517536) (NSE: ONWARDTEC) is a software outsourcing company specializing in digital and ER&D services. We help global OEMs improve speed to market, accelerate innovation, and maximize returns on their R&D investments. Headquartered in Mumbai, India, we are also an employer of choice driving positive change as a responsible corporate citizen. With over 2,500 employees across 12 offices in 6 countries and offshore development centers in India, we support multiple businesses in Transportation, Mobility, Industrial Products, Heavy Machinery and Healthcare verticals. For more information, please visit
Business Standard
16-07-2025
- Business
- Business Standard
Onward Tech surges as Q1 profit jumps 20% QoQ
Onward Technologies hit the 5% upper circuit at Rs 374.55 after the company posted strong financial results for Q1 FY26. The companys consolidated net profit rose 20.1% quarter-on-quarter (QoQ) to Rs 12.7 crore, while revenue from operations grew 4.6% to Rs 133.2 crore during the June 2025 quarter. Total revenue stood at Rs 135.6 crore, reflecting a 4.3% sequential and 13.6% year-on-year (YoY) increase. On a YoY basis, net profit surged 79.3%, backed by healthy margin expansion, consistent top-line growth, and operational efficiency. Profit before tax jumped 25.4% QoQ and 64.2% YoY to Rs 15.9 crore. Operating metrics painted a robust picture. EBITDA rose 23.3% QoQ and 46.5% YoY to Rs 17.1 crore, with EBITDA margin expanding 196 basis points QoQ and 293 bps YoY to 12.9%. EBIT came in at Rs 14 crore, up 32.9% QoQ and 66.2% YoY. EBIT margin improved to 10.5% from 8.2% in Q4 FY25 and 7.1% in Q1 FY25. Jigar Mehta, managing director, Onward Technologies, said, "We are pleased to report a record consolidated Q1FY26 total revenue of ₹135.6 crore, reflecting a growth of 4.3% QoQ and 13.6% YoY. Our EBITDA margin reached its highest ever at 12.9%, driven by continued focus on operational efficiencies and seamless execution. We are well poised to capitalize on growing market opportunities and remain focused on delivering long-term value for our stakeholders. The company remains optimistic about the evolving demand landscape and is committed to investing in talent, innovation, and customer success." Onward Technologies reported that its top 25 clients contributed 85% of total revenues in Q1 FY26. The companys total headcount stood at 2,570, with a last twelve months (LTM) attrition rate of 16.5%. Onward Technologies is a software outsourcing company, specializing in digital and ER&D services.
