Onward Technologies Ltd reported its highest-ever annual revenue and profit for the financial year ended March 31, 2026. The stock fell over 4 per cent on Tuesday to close at ₹243.40 on the NSE.

The Mumbai-headquartered engineering services firm posted consolidated revenue of ₹550.9 crore for FY26, a 10.5 per cent increase year-on-year. Profit after tax rose 72.3 per cent to ₹46.7 crore, while EBITDA jumped 60.9 per cent to ₹71.9 crore, with margins expanding to 13.2 per cent from 9.1 per cent a year ago. The PAT and EPS figures exclude a one-time exceptional charge related to the new labour code recorded in Q3 FY26.

For the fourth quarter ended March 31, 2026, revenue came in at ₹139.0 crore, up 6.9 per cent year-on-year. However, quarterly PAT declined 10.4 per cent to ₹9.5 crore compared to Q4 FY25, and EBITDA margin contracted to 11.2 per cent from 14.6 per cent in the preceding quarter.

The board recommended a dividend of ₹8 per share, up from ₹5 last year, marking the company’s 11th consecutive annual dividend.

Managing Director Jigar Mehta attributed the performance to operating leverage, cost discipline, and deeper engagement with strategic accounts. He said the company would focus on scaling its offshore model and strengthening vertical specialisation in FY27.

The company’s top 25 clients account for 88 per cent of total revenues. Total headcount stood at 2,485, with trailing twelve-month attrition at 14.85 per cent.

Despite the record annual numbers, the stock hit an intraday low of ₹231.10 before recovering partially. At its current price, the company’s total market capitalisation stands at approximately ₹553 crore. The stock is down over 17 per cent year-to-date and trades well below its 52-week high of ₹385.

Published on May 5, 2026