Onward Technologies517536Quarterly results

Q2 FY27 revenue up 22.2% YoY, EBITDA up 33.7%; FY27 outlook raised to 15-18% revenue growth

Q2 FY27 total revenue ₹171.2 crore, up 22.2% YoY; EBITDA ₹26.6 crore, up 33.7%; PAT ₹16.8 crore, up 41.2%.

By ScoutQuest · Fri 16 Oct 2026, 12:33 PM IST · 2 min read

Q2 FY27 Total Revenue: ₹171.2 crore, up 22.2% YoY
Q2 FY27 EBITDA and PAT: EBITDA ₹26.6 crore, up 33.7%; PAT ₹16.8 crore, up 41.2%
FY27 Outlook Revised: 15-18% revenue growth and 13.8-14.3% EBITDA margin

What was announced

Onward Technologies has shared a press release on its unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. The company describes it as its strongest-ever quarter, with both total revenue and EBITDA higher than the year-ago quarter.

Quarter numbers (Q2 FY27 vs Q2 FY26)

Total Revenue: ₹171.2 crore against ₹140.1 crore, up 22.2% year on year
EBITDA: ₹26.6 crore against ₹19.9 crore, up 33.7%
EBITDA Margin: 15.6% against 14.3%, up 130 bps
Profit After Tax: ₹16.8 crore against ₹11.9 crore, up 41.2%
PAT Margin: 9.9% against 8.6%, up 130 bps
EPS (Diluted): ₹7.61 against ₹5.23, up 45.5%

Compared with the immediately preceding quarter (Q2 FY27 vs Q1 FY27)

Revenue: ₹171.2 crore against ₹151.2 crore, up 13.2%
EBITDA: ₹26.6 crore against ₹18.4 crore, up 44.6%
EBITDA Margin: 15.6% against 12.3%, up 330 bps
PAT: ₹16.8 crore against ₹11.2 crore, up 50.0%
EPS (Diluted): ₹7.61 against ₹4.98, up 52.8%

First half performance (H1 FY27 vs H1 FY26)

Total Revenue: ₹322.4 crore against ₹275.7 crore, up 16.9%
EBITDA: ₹44.9 crore against ₹37.0 crore, up 21.4%
EBITDA Margin: 14.0% against 13.6%, up 40 bps
PAT: ₹27.9 crore against ₹24.6 crore, up 13.4%
PAT Margin: 8.7% against 9.0%, down 30 bps
EPS (Diluted): ₹12.56 against ₹10.80, up 16.3%

Business highlights

Strategic account expansion: a multi-year contract renewal valued at ₹44.46 crore
Data centre engineering: the company continues to develop opportunities in engineering solutions for AI-driven data centre infrastructure, including power management, cooling and electrical systems
H1 FY27: 432 net new employees added, taking the global workforce to 2,917 professionals

Financial strength and shareholder returns

Debt-free balance sheet with net cash of ₹97.1 crore as of September 30, 2026
Dividends paid for 11 consecutive years

Outlook

Full-year FY27 revenue growth outlook revised upward to 15-18%
FY27 EBITDA margin outlook of around 13.8-14.3%

What to keep in mind

The company attributes the improved performance to better utilisation, productivity, offshore execution and operating leverage, along with strategic customer engagements across its engineering verticals. The revised FY27 outlook is forward-looking, and the press release carries a safe harbour stating that actual results could differ due to changes in client demand, programme timing, currency movements, talent availability and macroeconomic conditions. The financial results are unaudited.

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