Onward Technologies Delivers PAT Growth of 50.9 Percent in FY 18-19, Board Recommends Final Dividend at 15 Percent
Business Wire India
Highlights for the Financial Year ended March 31, 2019
- Consolidated Revenues closed at INR 262.21 Cr in FY19 as against INR 249.21 Cr of FY18, a growth of 5.2%.
- Consolidated EBITDA closed at INR 23.60Cr in FY19, up 47.3% from INR 16.02 Cr of FY18.
- Consolidated Profit before Tax (PBT) at INR 15.20 Cr in FY19, up 102.4% from INR 7.51 Cr of FY18
- Consolidated Profit after Tax (PAT) was at INR 10.13 Cr in FY19 as against INR 6.72 Cr of FY18, a YoY growth of 50.7%,
- Company declared an EPS of INR 6.45 in FY19, up 48.2 % from previous financial year
- For the financial year ended March 31, 2019, the Board recommended a final dividend of Rs. 1.50 paise per share, to be confirmed at the 28th Annual General Meeting.
Highlights for the Quarter (Q4) ended March 31, 2019
- Consolidated Revenues in Q4 of FY19 were at INR 66.54 Cr, up by 3.6% from INR 64.23 Cr in Q4 FY18
- Consolidated EBITDA were at INR 6.29Cr for Q4 of FY19, up 198% from INR 2.11 Cr in Q4 FY18.
- Consolidated Profit before Tax (PBT) at INR 4.20 Cr for Q4 of FY19, up 2524.9% from INR 0.16 Cr in Q4 FY18
- Consolidated Profit after Tax (PAT) at INR 3.20 Cr for Q4 FY19, up 178.2% from INR 1.15 Cr in Q4 FY18
- Earnings Per Share (EPS) for Q4 was the highest at INR 2.03
Mr. Harish Mehta, Onward Technologies’ Founder & Executive Chairman, commented on the performance of the Company, saying, “I am pleased to share that Onward Technologies has performed well in Q4 and the company has delivered consistent growth quarter after quarter. We have been investing for the future over the last few years & during the year and we are expecting these investments to yield both a healthy top-line growth and continuous margin improvements. I am happy to inform you that the Board of Directors have recommended to the AGM to increase the dividend from 10% last year to 15% for the current year.”
About Onward Technologies Limited
Onward Technologies (NSE, BSE : ONWARDTEC
) is one of India’s leading engineering and IT services companies, providing integrated product development solutions and services to many of the Fortune 1000 companies.
Founded in 1991, the company deals in mechanical engineering, embedded products and systems development, mobile and enterprise software development, data analytics and digital transformation, robotic process automation, and managed services for infrastructure, applications and databases. We have worked with a wide range of clients in 10 industries, including automotive, aerospace, off-highway, industrial equipment and machinery, medical laboratory equipment, pharmaceutical and life sciences, banking, financial services, and insurance.
Onward Technologies brings its expertise to clients through our 2,500+ employees, who continue to invest in deepening their expertise in relevant industries and technologies. In addition, the strategic alliances with large enterprise software OEMs helps in providing a comprehensive range of end-to-end solutions and services.
With engineering design and delivery centers in India, Onward Technologies has sales offices in Chicago, Detroit, Cleveland and Milwaukee in North America, Birmingham in the United Kingdom, Frankfurt in Germany, and Mumbai, Pune, and Chennai in India. All the 12 offices across North America, Europe and India are equipped with state of the art and secure infrastructure, equipment and facilities that aim to provide our clients with business continuity support, as well as proximity and access to a world-class talent pool.
To learn more on how Onward Technologies helps its clients please visit our website at www.onwardgroup.com
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