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Onward Technologies Ltd

Q3 FY25IT - Services

Onward Technologies Q3 FY25 earnings call: Revenue & Margins

Q3 FY25 earnings call: what management guided on revenue, margins and order book.

Price₹286
Market cap₹632 Cr
P/E14.0
Updated23 Aug 2026
Read5 min read

The short version

Onward Technologies is targeting a return to double-digit revenue growth over the next 1 to 3 years, moving beyond recent single-digit growth years. Onward Technologies aims to return to double-digit revenue growth and double-digit EBITDA margins over the next 1 to 3 years through focused execution and corrective steps.

From Onward Technologies Ltd's Q3 FY25 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • Onward Technologies is targeting a return to double-digit revenue growth over the next 1 to 3 years, moving beyond recent single-digit growth years.
  • The company has given a revenue guidance for FY '26 of around INR 600 crores, which remains strong and achievable based on current visibility with existing clients.
  • The top 10 clients contributing around USD 10 million each are seen as the primary growth engine, focusing on fewer large customers rather than a broad client base.
  • Significant pipeline visibility exists with existing clients focused on ramp-ups in Q4 and beyond, supported by ongoing RFQs.
  • Investment in automation and proprietary internal systems is expected to reduce costs from March, supporting margin and revenue growth.

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Profitability & Margins

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Capital Expenditure Plans

  • Onward Technologies is making strategic investments to unlock future opportunities, particularly focusing on building capabilities on the software digital side alongside mechanical engineering and embedded electronics.
  • A significant capital investment is the upcoming large office in Chennai, which will be the largest design center in India, consolidating substantial delivery capabilities for the industrial and automotive verticals starting Q2 2025.
  • The Chennai facility will consolidate various small centers across India, enhancing efficiency without additional cost.

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Top-ranked in IT - Services

Ranked on what management guided this quarter

Guidance-ranked
1Netweb Technol.
Rev 1Mar 3
2E2E Networks
Rev 1Mar 3
3
Rev 1Mar 3
4
Rev 1Mar 3
5
Rev 1Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

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Order Book & Pipeline

  • Specific details on the current order book structure or exact ratio of repeat revenue versus project-based business were not provided in the call.
  • Jigar Mehta mentioned that details related to Total Contract Value (TCV) or Annual Contract Value (ACV) can be obtained from the IR managers at Ernst & Young upon request.
  • The revenue visibility for Q4 and FY '26 is positive, driven by strong pipelines from existing clients and new RFQs.
  • Many employees have been trained in 2024 and are ready to get onto projects in Q1-Q3 2025.
  • The company focuses on ramping up top clients, with around 10 customers targeted to contribute $10 million each.

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Onward Technologies Ltd — Quarterly revenue & net profit

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹137 Cr, net profit ₹10 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were Onward Technologies Ltd Q3 FY25 results?

Onward Technologies is targeting a return to double-digit revenue growth over the next 1 to 3 years, moving beyond recent single-digit growth years. Onward Technologies aims to return to double-digit revenue growth and double-digit EBITDA margins over the next 1 to 3 years through focused execution and corrective steps.

What is Onward Technologies Ltd share price analysis?

Onward Technologies Ltd currently shows a neutral. The stock trades at a P/E of 14.0 with a market cap of ₹632 Cr. Investors should review the full earnings analysis for detailed insights.

Is Onward Technologies Ltd planning capital expenditure?

Onward Technologies is making strategic investments to unlock future opportunities, particularly focusing on building capabilities on the software digital side alongside mechanical engineering and embedded electronics.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.