Onward Technologies Limited has formally notified the stock exchanges about an upcoming board meeting scheduled to approve its quarterly financial results. The company has issued this intimation in accordance with regulatory requirements under SEBI listing obligations.

Board Meeting Details

The key details of the scheduled board meeting are outlined below:

Regulatory Compliance

The board meeting notification has been issued pursuant to Regulation 29(1)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. This regulation mandates listed companies to inform stock exchanges about board meetings where financial results will be considered.

Trading Window Guidelines

In line with the company's code for Prevention of Insider Trading in securities, Onward Technologies Limited has specified that the trading window will remain closed until 48 hours after the financial results are made public on December 31, 2025. This measure ensures compliance with insider trading regulations and maintains market integrity.

Communication Details

The official communication was signed by Aakash Joshi, Company Secretary & Compliance Officer (Membership No: A60953), and was digitally executed on January 09, 2026. The notification was sent to both BSE Limited and National Stock Exchange of India Limited, where the company's shares are listed under scrip codes BSE: 517536 and NSE: ONWARDTEC respectively.

Onward Technologies Limited , a global player in engineering and IT services, has reported a record-breaking second quarter for FY2026, with significant improvements in both revenue and EBITDA. The company's Managing Director, Jigar Mehta, shared key highlights during the recent earnings call.

Financial and Operational Highlights

• EBITDA margins improved to 14.30%, driven by increased utilization and productivity.
• Revenue growth transitioned from single digits to double digits year-over-year.
• LTM attrition rate decreased to 15.49%.
• DSO (Days Sales Outstanding) remained controlled at 73 days, with a target of 65 days.
• Headcount stable at 2,525 employees, unchanged over the last 5 years despite revenue growth from approximately INR 100.00 crores to INR 500.00 crores.

Business Verticals and Market Focus

Onward Technologies operates across three main verticals:

1. Industrial Equipment and Heavy Machinery (largest vertical)
2. Transportation & Mobility
3. Healthcare

The company has shifted its focus from the Indian market to predominantly serving North American and European customers over the past five years.

Infrastructure Investments

• Approximately INR 18.00 crores invested in upgrading infrastructure across delivery centers in India.
• Significant upgrades completed in Pune and Chennai facilities.
• New centers in Bangalore and Hyderabad operating efficiently.

Future Outlook

• Management expects to deliver double-digit revenue and EBITDA growth in the coming years.
• Strong demand observed in the US manufacturing industry, particularly in AI adoption.
• Potential for margin expansion due to ongoing automation efforts and transition to higher-value services.
• Focus on deepening existing client relationships rather than expanding the client base.

Strategic Direction

• Transitioning from mechanical engineering to digital and software services, with a focus on AI capabilities.
• Aiming to scale existing client engagements rather than bidding for new projects daily.
• Preference for time and material engagements over fixed-price contracts.
• No immediate plans for mergers and acquisitions, but open to opportunities that complement existing top client relationships.

Jigar Mehta expressed optimism about the company's trajectory, stating, "We have a strong execution engine in place, and with every quarter, we only get better. We believe we should have a good run rate going into 2026, and all three verticals will start performing or delivering better than where we are today."

As Onward Technologies continues to evolve its service offerings and deepen client relationships, the company appears well-positioned to capitalize on the growing demand for engineering and IT services in its key markets.