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Onward Technologies Revenue Grows by 8.5 Percent QoQ, PBT Grows by 15.5 Percent. Promoters Increase the Stake by 4.90 Percent

by businesswireindia.com

November 1, 2018

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Business Wire India
Highlights for the quarter ended September 30, 2018
  • Consolidated revenues in Q2FY19 reported at INR 68.42 Cr, up 8.5% from INR 63.07 Cr in Q1FY19 & up by 6.6% from INR 64.19 Cr in Q2FY18
  • Consolidated EBITDA reported at INR 5.77 Cr for Q2FY19, up 8.5% from INR 5.32 Cr in Q1FY19
  • PBT reported at INR 3.70 Cr for Q2FY19, up 15.5% from INR 3.20 Cr in Q1FY19

Commenting on the performance of the Company, Mr. Harish Mehta, Founder & Executive Chairman, said, “Growth and profitability being the focus and the progress we made in first half year, the company has affirmed on its strategy to capitalise the growth opportunities. The company is confident that on the portfolios invested, it will start giving results while servicing clients at its best which is a paramount of importance.”
 
About Onward Technologies Limited 

Onward Technologies Limited is a global player in Mechanical Engineering Design Services and IT consulting services. The Company offers a range of engineering design services including product design, engineering analysis, engineering documentation and maintenance, and manufacturing solutions for automotive, off highway, aerospace, industrial equipment and consumer goods. With its footprints in India, North America, Germany and UK, the Company’s global design and delivery centres has grown to 2500+ employees servicing Fortune 1000 companies.
 
The Company is listed on the following stock exchanges under the ISIN INE 229A01017: BSE Limited: Scrip Code: 517536
National Stock Exchange of India Limited: Scrip Code: ONWARDTEC
 
For more information, please contact: [email protected]

 

 
 
Onward Technologies Limited
Corporate Identity Number: L28920MH1991PLC062542  Registered Office: Sterling Centre, 2nd Floor, Dr. A. B. Road, Worli, Mumbai – 400 018, India.
Tel: +91 22 2492 6570 Fax: +91 22 2492 6549
E-mail: [email protected]   Website: www.onwardgroup.com
STATEMENT OF CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2018  
(Rs. In lakhs)  
Sr.
No.		 Particulars Quarter ended Year to date figures for current year till September 30, 2018 Year to date figures for previous year till September 30, 2017 Year to date figures for previous year March 31, 2018  
September 30,
2018		 June 30, 2018 September 30, 2017
 
1
2		  
Revenue from operations
Other income		 Unaudited Unaudited Unaudited Unaudited Unaudited Audited  
6,840.04
2.18		 6,296.92
10.29		 6,327.87
90.98		 13,136.96
12.47		 12,441.06
123.76		 24,446.02
475.34		  
3 Total Income (1+2) 6,842.22 6,307.21 6,418.85 13,149.43 12,564.82 24,921.36
 
4		  
Expenses
  1. Purchase of traded goods
  2. Employee benefits expense
  3. Finance costs
  4. Depreciation and amortisation expense
  5. Other expenses
  
 

254.07

4,727.60

59.65

147.65
1,283.29		  
 

162.83

4,524.62

71.89

139.89
1,087.59		  
 

60.78

4,801.03

73.59

137.50
941.29		  
 

416.90

9,252.22

131.54

287.54
2,370.88		  
 

180.06

9,278.86

154.48

278.28
1,979.12		  
 

372.14

18,582.05

302.98

548.52
4,364.73
  Total Expenses 6,472.27 5,986.82 6,014.19 12,459.08 11,870.80 24,170.42
               
5 Profit before tax (3-4) 369.95 320.39 404.66 690.35 694.02 750.94
6 Tax Expense
  1. Current Tax
  2. Short/(Excess) provision of taxation for previous periods
  3. Deferred Tax
  

204.77
–    


(23.78)		  

64.86
3.50


41.58		  

52.32
–


49.81		  

269.63
3.50


17.80		  

82.87
(9.16)


114.21		  

223.45
(9.15)


(134.98)
  Total tax expense/ (credits) 180.99 109.94 102.13 290.93 187.92 79.32
               
7 Net profit/ (loss) for the period (5 – 6) 188.96 210.45 302.53 399.42 506.10 671.62
8 Other comprehensive income, net of income tax
  1. i) items that will not be reclassified to profit or loss
ii) income tax relating to items that will not be reclassified to profit or loss
  1. i) items that will be reclassified to profit or loss
– Exchange differences on Foreign operations
ii) income tax relating to items that will be reclassified to profit or loss		  


(4.27)



0.55
 
 
 
(82.08)




–		  


(0.83)



0.49
 
 
 
(102.71)




–		  


3.26



(1.07)
 
 
 
–




–		  


(5.10)



1.04
 
 
 
(184.79)




–		  


10.39



(3.43)
 
 
 
–




–		  


(3.31)



0.77
 
 
 
(4.16)




–
  Total other comprehensive income, net of income tax (85.80) (103.05) 2.19 (188.85) 6.96 (6.70)
9 Total comprehensive income for the period (7-8) 274.76 313.49 300.34 588.27 499.14 678.32
 10
 
 
 


11
 
 
 


12

13		 Net Profit/ (loss) attributable to:
  1. Owners
  2. Non-controlling interests
Total comprehensive income attributable to:
  1. Owners
  2. Non-controlling interests

Paid-up equity share capital : (Face value Rs. 10 each) Earnings/ (loss) per share (of Rs. 10 each) (not annualised) Basic: (in Rs.)
Diluted: (in Rs.)		  
 

188.96
–
 
 

274.76
–
 

1,569.66
 


1.20
1.15		  
 

210.45
–
 
 

313.49
–
 

1,565.16
 


1.34
1.28		  
 

302.53
–
 
 

300.34
–
 

1,536.46
 


1.97
1.83		  
 

399.42
–
 
 

588.27
–
 

1,569.66
 


2.55
2.42		  
 

506.10
–
 
 

499.14
–
 

1,536.46
 


3.30
3.07		  
 

671.62
–
 
 

678.32
–
 

1,554.21
 


4.35
4.07
 
CONSOLIDATED SEGMENT WISE REVENUE, RESULTS, ASSETS AND LIABILITIES FOR THE QUARTER AND SIX MONTHS ENDED SEPTEMBER 30, 2018  
(Rs in Lakhs)  
Sr.
No.		 Particulars Quarter ended Year to date figures for current year till September 30, 2018 Year to date figures for previous year till September 30, 2017 Year to date figures for previous year March 31, 2018  
September 30,
2018		 June 30, 2018 September 30, 2017
(Unaudited) (Unaudited) (Unaudited) Unaudited Unaudited Audited  
1 Segment Revenue (net of inter-segment revenue)
Mechanical Engineering Design Services
Information Technology Services		  

5,224.27

1,615.77		  

4,846.27

1,450.65		  

4,836.70

1,491.17		  

10,070.54

3,066.42		  

9,537.76

2,903.30		  

18,841.00

5,605.02		  
  Revenue from operations 6,840.04 6,296.92 6,327.87 13,136.96 12,441.06 24,446.02  
 
2		 Segment Results
Profit before tax and finance cost
Mechanical Engineering Design Services
Information Technology Services		  
 
 
290.22

139.38		  
 
 
326.77

65.51		  
 
 
295.81

182.44		  
 
 
617.00

204.89		  
 
 
523.77

324.73		  
 
 
692.70

361.22		  
  Total profit before tax and finance cost
Less: Finance cost
Less: Tax expense		 429.60

59.65
180.99		 392.28

71.89
109.94		 478.25

73.59
102.13		 821.89

131.54
290.93		 848.50

154.48
187.92		 1,053.92

302.98
79.32		  
  Total Segment Net Profit for the period 188.96 210.45 302.53 399.42 506.10 671.62  
 
Sr.
No.		 Particulars September 30,
2018		 March 31, 2018  
    (Unaudited) (Audited)
 
3		 Segment Assets
Mechanical Engineering Design Services
Information Technology Services		  
7,570.56		  
6,942.60
  3,470.22 3,132.10
  Total Segment Assets 11,040.78 10,074.70
 
4		  
Segment Liabilities		    
  Mechanical Engineering Design Services 3,018.19 3,847.19
  Information Technology Services 2,471.47 1,247.40
Total Segment Liabilities 5,489.66 5,094.59
 

Source: Businesswire

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