Tuesday, August 4, 2020

Onward Technologies Records Q1 FY21 Revenue of Rs 56.35 Cr, EBITDA Margin at 7 Percent
  SocialTwist Tell-a-Friend  

Date: 16-07-2020 5:17PM
Source: Onward Technologies
Category: Business/ Finance, Banking & Financial Services, General, Human Resources & Consultancy Services, Internet, Information Technology, Accounting And Management, Technology, It & Tech
Location: Mumbai, Maharashtra, India

Business Wire India
Onward Technologies Limited (BSE: 517536 & NSE: ONWARDTEC) announces its results for the quarter ending June 30, 2020.

Highlights for the quarter ended June 30, 2020
Q1 20-21: ? 56.35 Cr
Q4 19-20: ? 65.81 Cr
Q1 20-21: 7%
Q4 19-20: (-) 1%
Q1 20-21: ? 0.51 Cr
Q4 19-20: (-) 3.87 Cr
Q1 20-21: ? 0.39 Cr
Q4 19-20: (-) 2.98
Q1 20-21: ? 0.24
Q4 19-20: ? (-) 1.87

Commenting on the performance of the company, Jigar Mehta – Managing Director said, "Our priority for Q1, was to ensure we minimise impact of the impending lockdown which came into effect in the last week of March 2020. We moved very quickly to ensure our business continuity program (BCP) was implemented robustly & today 90%+ of our team is working from home (WFH).

We are now starting to see resumption in decision making about projects, from the complete halt we witnessed at the beginning of Q1. As organisations look to evolve, digital transformation areas are set to command major share of spends. Coupled with our existing relationships with Fortune 1000 companies & ability to serve our partners from design to decision making, gives us a great platform to capitalise on opportunities in the new normal.

We closed the quarter with approximately 7% EBITDA margin and are aiming to get back to double digit margin by the end of the year through both operational efficiencies in our India Business Unit & higher % business from Customers in North America and Europe.

Follow Onward Technologies on LinkedIn: https://www.linkedin.com/company/onward-technologies/

About Onward Technologies Limited

For large global corporations Onward Technologies is the services provider that translates their vision into reality with superlative capabilities and flawless execution of services across the Digital Transformation suite, Embedded Systems, Engineering Technology, Data Analytics, Artificial Intelligence (AI) and Machine Learning (ML).

YOUR IMAGINATION. DELIVERED TO PERFECTION – that’s what we stand for, that’s what we promise our customers, and that’s how we will continue writing success stories for our customers, and for us.

Onward Technologies with its HQ at Worli, Mumbai supports leading global corporations from its 5 Sales offices in Chicago, Detroit, Cleveland, London & Frankfurt & state of the art development and design centres from off shore in Chennai, Pune & Mumbai. We have nurtured a young and dynamic team that helps customers translate their vision and objectives into positive business outcomes using industry best practices based approach coupled with innovative and flawless execution of technology services for Fortune 1000 companies across multiple industry domains.

More Press Releases

Moody’s Analytics Repeats IFRS 9 Wins at Risk Technology Awards

First Eagle to Open Its First German Office in More Than 80 Years; New Hire Louanges Will Direct International Wholesale Business From Munich

Hengli Petrochemical Announces Start-up of its 5th PTA Line Utilising INVISTA’s P8 PTA Technology

Dole Unveils Integrated Strategy Against Banana Disease

Spykke Innovations Partners with tracesafe, to Launch Unique COVID Safety Wristbands in India

Freedom for Our Girls: Breaking Menstrual Barriers

Takeda Announces FY2020 Q1 Results; Confirms Management Guidance & Raises Reported Operating Profit And Reported Net Profit for the Full Year

Craft Silicon and PayU Announce Strategic Association to Advance Digital Loan Repayment Solutions for Lending Institutions

With World’s 1st AI and ML Powered Annual-Recurring-Subscription-Model, Frinza Is All Set to Disrupt the Global Gifting Industry

Crossbeats Brings You Work from Home’s Best Bud in Its Beast of a New True Wireless Earphones

Preferred Equity Offering of Lead Real Estate via a Digital Securities Issuance, Brought to Market by GRIP, Securitize and Rialto

Andersen Global Continues West African Expansion with Addition of Tax and Legal Firm in Benin

New One-Stop Resource Center Gives Developers a Robust Array of Tools to Easily Manage, Monitor and Integrate Limelight Services

India Angel Fund invests in Mental Wellness Startup IPHM Services, round led by Monaliesa Sarkar, Jyoti Tiwari, Koel Dutta, Sabana Khatoon, Dr. Vikaas Grover and Rahul Narvekar

CoinEx $50M Ecosystem Development Fund Points First Investment as OneSwap

Wipro Selected as Strategic Partner by Metro Bank to Drive IT Transformation

Velodyne Lidar Sensors Power Emesent’s Hovermap to Fly Beyond the Visual Line of Sight

Empagliflozin meets primary endpoint in reducing risk of cardiovascular death or hospitalization for heart failure in Phase III trialin adults with and without diabetes

Takeda Announces U.S. FDA Breakthrough Therapy Designation Granted for Pevonedistat for the Treatment of Patients with Higher-Risk Myelodysplastic Syndromes (HR-MDS)

NWFI Says Everyone is Looking at India as an Alternative to China and Allowing Exports Will Boost the Domestic Industry

UL Issues First Safety Mark for Hyperbaric Chambers in India

Abbott and 1mg Bring Continuous Glucose Monitoring Solutions Closer to Indian Homes

Face Mask Killing Covid-19, Tested by US-Based ISO Certified Laboratory, Developed and Launched by an Indian Start-up

Terns Pharmaceuticals Announces Completion and Positive Results from Phase 1 Clinical Trial of TERN-201, a SSAO Inhibitor in Development for NASH

Philips Introduces Revolutionary Haircare High-Tech Devices and DIY Female Grooming Products

Taobao Introduces Maker Rating System to Champion Young Entrepreneurs, Originality

Sustainable Mica Policy and Vision Prepared by Responsible Mica Initiative with Jharkhand Government and Civil Society Support

MOGAS Wins Multimillion Dollar Bid to Supply Valves for Southeast Asian Refinery

Bank of Baroda’s Credit Card Arm Readies for Digital Transformation with Implementation of Fiserv Technology

Aspect Announces General Availability of Aspect Unified IP 7.4 SP1, the Premier Enterprise Contact Center Solution for High Volume Customer Outreach

Recipe for Growth: Balancing Health, Indulgence and Taste Key to Drive Biscuit and Cookie Growth in India

Automation Industry Leader, Armstrong Along With Indian Rocket Scientists Launched UWe Safe for Contactless 3D Sanitization

WorldRemit Wishing All Those Celebrating a Blessed Eid al Adha

DNSC Introduces the “Typhoon” C20590 MX, the World’s Lowest Cost 100 ppm Full-Color All-In-One MICR Inkjet System

Ayodhya stalwarts may stay away from 'bh...
IndiGo pilot killed in car crash in Hyde...
Kerala: Suspected 'mentally deranged' ma...
Manipur CM innaugurates 300-bedded COVID...
'Conspirators behind Mujib killing, Hasi...
Curfew ordered in Srinagar on August 4 a...
 Top Stories
1,009 new cases take Gujarat's Covi... 
IndiGo pilot killed in car crash in... 
With 89 fresh COVID-19 cases, Indor... 
Indian envoy in Afghanistan meets A... 
Yediyurappa doing well, clinically ... 
Kerala: Suspected 'mentally derange... 
Assam situation limps towards norma... 
Aayush Sharma pens a birthday note ...