What we do Onward Technologies Ltd is a global software and engineering services company specializing in digital, embedded, and mechanical engineering solutions for OEMs in industrial equipment, transportation, and healthcare sectors. |
Founded in 1,991 |
Market share A leading Indian ER&D firm with a strong presence in North America and Europe, specializing in high-tech engineering for global OEMs. |
Problem solved Enables OEM clients to accelerate product development, enhance digital transformation, and improve operational efficiencies through specialized technology services. |
Top clients or who we serve Global OEMs in Industrial Equipment, Heavy Machinery, Automotive, Rail Transportation, Healthcare, and Life Sciences sectors; primarily B2B. |
Key management Harish Mehta (Executive Chairman), Jigar Mehta (Managing Director) |
Our journey and innovations Founded in 1991, completed multiple global expansions and digital transformation initiatives, acquired OT Park Pvt Ltd in 2021, and refocused on three verticals in 2024. |
Where we operate India, USA, Germany, Netherlands, Canada, UK |
Top products or what we offer Engineering Design Services, Embedded Systems Development, Digital Transformation, Data Analytics, Robotic Process Automation, Managed IT Services |
Top brands Not applicable as a services company |
Raw materials needed - |
Raw materials supplier - |
Recurring vs cyclical contribution Revenue is predominantly recurring from long-term client engagements and managed services |
Our industry position Among top Indian ER&D and software service firms with strong engineering capabilities and digital expertise |
Financial highlights FY25 consolidated revenue of ₹491.3 crore with ₹27.08 crore net profit; CAGR Revenue 17% (FY22-25), EBITDA growth 28% |
Geographical revenue split Approximately 54% international (USA, Europe, Others), 46% India |
Order book - |
Whats driving growth Digital transformation demand, advanced engineering services, expansion in global markets, and focus on high-growth verticals in Industrial, Transportation, and Healthcare |
Our future plans Expand project offices in North America and Europe, invest in digital and embedded technology leadership, and enhance AI/ML-driven services |
Our green promise Under active Corporate Social Responsibility focusing on education, natural resource conservation, and hunger eradication |
Our people and values Around 2,500 employees worldwide with a culture emphasizing learning, collaboration, and performance |
Key challenges ahead Competition from global IT service firms, maintaining technology leadership, and managing global delivery complexity |
Interesting facts Consistent dividend payer for over 10 years and first Indian ER&D firm to provide end-to-end design to prototyping solutions |
Risks and strategy Mitigates risks through diversification across verticals, geographies, and continuous technology upskilling |
