Earnings call transcript

Onward Technologies delivered record FY26 results with revenue of INR 550 crore (10.5% YoY) and EBITDA of INR 71.9 crore (60.9% YoY growth), with gross margins at 13.2%, the highest in company history. PAT grew 72.3% YoY. Headcount remained stable at ~2,485 employees with revenue per employee improving to INR 22 lakh from INR 8-9 lakh four years ago. Management reiterated guidance for sustained double-digit revenue and EBITDA growth going forward. They discussed a finalized roadmap covering both revenue and EBITDA for multiple years ahead. Key focus areas include transitioning from mechanical to digital/AI engineering services, with a new AI lab being set up in Chennai. Top 25 clients now account for 88% of revenues. The company indicated 95-98% of FY27 revenue will come from existing clients with strong visibility. The board increased dividend to INR 8 per share, the highest recommended.