Onward Technologies Ltd Q4FY21 consolidated PAT at Rs. 2.16 crore

ONWARD TECHNOLOGIES LTD. has reported financial results for the period ended March 31, 2021.

Financial Results (Q4 FY20-21) - QoQ Comparison

The company has reported total income of Rs.68.34 crores during the period ended March 31, 2021 as compared to Rs.59.99 crores during the period ended December 31, 2020.

The company has posted net profit / (loss) of Rs.2.16 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.2.35 crores for the period ended December 31, 2020.

The company has reported EPS of Rs.1.27 for the period ended March 31, 2021 as compared to Rs.1.39 for the period ended December 31, 2020.

Financials	Q4 FY20-21	Q3 FY20-21	% Change
Total Income	₹ 68.34 crs	₹ 59.99 crs	13.92%
Net Profit	₹ 2.16 crs	₹ 2.35 crs	-8.09%
EPS	₹ 1.27	₹ 1.39	-8.63%

Financial Results (Q4 FY20-21) - YoY Comparison

The company has reported total income of Rs.68.34 crores during the period ended March 31, 2021 as compared to Rs.65.81 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.2.16 crores for the period ended March 31, 2021 as against net profit / (loss) of Rs.(2.98) crores for the period ended March 31, 2020.

The company has reported EPS of Rs.1.27 for the period ended March 31, 2021 as compared to Rs.(1.78) for the period ended March 31, 2020.

Financials	Q4 FY20-21	Q4 FY19-20	% Change
Total Income	₹ 68.34 crs	₹ 65.81 crs	3.84%
Net Profit	₹ 2.16 crs	₹ (2.98) crs	172.48%
EPS	₹ 1.27	₹ (1.78)	171.35%

Financial Results (Year ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.245.70 crores during the 12 months period ended March 31, 2021 as compared to Rs.272.60 crores during the 12 months period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.7.33 crores for the 12 months period ended March 31, 2021 as against net profit / (loss) of Rs.6.23 crores for the 12 months period ended March 31, 2020.

The company has reported EPS of Rs.4.35 for the 12 months period ended March 31, 2021 as compared to Rs.3.76 for the 12 months period ended March 31, 2020.

Financials	Year Ended FY20-21	Year Ended FY19-20	% Change
Total Income	₹ 245.70 crs	₹ 272.60 crs	-9.87%
Net Profit	₹ 7.33 crs	₹ 6.23 crs	17.66%
EPS	₹ 4.35	₹3.76	15.69%

Commenting on the performance of the Company, Jigar Mehta - Managing Director said "The financial year 2021 started off on a bad note due to the Covid-19 induced lockdown, but I'm proud to inform that through the tremendous hard work of our team, we were able to bounce back and cover up in the remaining nine months of the financial year and close the year with double digit growth in Topline in Q4-FY21 and also approximately 20% increase in the Bottomline for FY21. The pandemic has highlighted to the world how important it is to go digital and this will eventually help the company to win more clients. We were able to remain focused on our long term strategy of entrenching deeper with our top 10 clients and onboarding various new clients. We have also heavily invested in our infrastructure in labs and new delivery centers in India and globally and also on automation and digitization, the fruits of these investments will be borne in the coming years. We are strengthening our international sales team as we wish to get more offshore revenue which will eventually lead to higher margins. Our next three years strategic growth plan is very clear - to transform into a 100% Digital Engineering Services company."

Shares of ONWARD TECHNOLOGIES LTD. was last trading in BSE at Rs.119.2 as compared to the previous close of Rs. 119.5. The total number of shares traded during the day was 1981 in over 178 trades.

The stock hit an intraday high of Rs. 123.1 and intraday low of 118.8. The net turnover during the day was Rs. 239452.

Source : Equity Bulls

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