Onward Technologies Limited reappoints Mr. Jigar Mehta as MD

Based on the recommendations of the Nomination & Remuneration Committee, the Board of Directors of Onward Technologies Limited at their meeting held on May 14, 2021 has approved the re-appointment of Mr. Jigar Mehta (DIN:06829197) as the Managing Director of the Company for a further period of five (5) years with effect from May 14, 2021, subject to the approval of shareholders at the ensuing Annual General Meeting of the Company. Further, the Board has also approved his revised terms and conditions of payment of remuneration for a period of three (3) years w.e.f. May 14, 2021, subject to the approval of shareholders at the ensuing Annual General Meeting of the Company.

Mr. Jigar Mehta is associated with Onward Technologies more than 18+ years and led various departments within the Company including Sales, Business Strategy, Finance and HR before taking over the position of Managing Directorship of the Company in 2016. Over his career with the Company, he has been instrumental in transforming a traditional domestic family business of 300 employees to a 1800+ strong team today with 50%+ of revenues coming from international markets in North America and Europe. Together with his father, they have invested in and built a global management team and steered the business from a System Integrator (SI) in India to an international Digital Engineering Services company.

Today he lends direction and leads OTL strategy in the 3 primary markets of North America, Europe & India. He serves on the Board of Directors of Onward Technologies Ltd (OTL) & its wholly-owned subsidiaries - Onward Technologies Inc. (OTI) & Onward Technologies GmBH (OTG). He is an active member of EO Mumbai chapter, a global entrepreneurs' organization & is deeply engaged in CSR initiatives of the organisation with a primary focus on improving education infrastructure at school and college level. He is graduated in Business Administration from Boston University, MA (USA) and is an alumnus of Don Bosco School and St. Xaviers College (Mumbai).

Shares of ONWARD TECHNOLOGIES LTD. was last trading in BSE at Rs.124.85 as compared to the previous close of Rs. 120.15. The total number of shares traded during the day was 23042 in over 759 trades.

The stock hit an intraday high of Rs. 132 and intraday low of 116.35. The net turnover during the day was Rs. 2918938.

Source : Equity Bulls

Keywords