Q1 2025 Onward Technologies Ltd Earnings Call Transcript
Key Points
- Onward Technologies Ltd (BOM:517536) achieved INR472 crores of revenue last year, marking significant growth.
- The company delivered double-digit EBITDA for the first time last year.
- Onward Technologies Ltd has been a dividend-paying company for nine consecutive years, with an increase from INR3 to INR5 recently approved by shareholders.
- The company has a strong management team and board, with key leadership positions filled by experienced professionals.
- There is a positive demand environment, especially in the US and Europe, with significant opportunities in digital, AI, and data analytics.
- Q1 FY25 revenue was INR117.6 crores, which was lower than expected and a marginal drop from the previous quarter.
- The company faced execution challenges, particularly in the US and Europe, due to a lack of technical personnel.
- There were delays in project starts in Europe, impacting revenue recognition.
- Onward Technologies Ltd had to exit several businesses and clients, leading to a reduction in headcount and revenue.
- Despite positive demand, the company struggled with hiring the right talent, particularly for high-demand areas like digital and AI.
Ladies and gentlemen, good day, and welcome to the Onward Technologies Limited Q1 FY25 earnings conference call. (Operator Instructions). Please note that this conference is being recorded. I now hand the conference over to Ms. Asha Gupta from E&Y Investor Relations. Thank you and over to you, ma'am.
Thank you, Neha. Good evening to all of you. Welcome to Q1 FY25 earnings call of Onward Technologies Limited. The results and presentation have already been mailed to you, and you can also view them on our website at www.onwardgroup.com.
To take us through the results today and to answer your questions, we have with us Mr. Jigar Mehta, Managing Director of Onward Technologies Limited. He will start the call with the business update and financial performance for the quarter, which will be then followed by Q&A session.
As usual, I would like to remind you that anything that is said on this call that reflects
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