Thread by @ValueEducator

#Onwardtech Q3 2022 Concall Highlights

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Financial Update

1. Revenue from operations ₹77.3Cr up 6.04% QoQ
2. 24% YoY revenue growth
3. EBITDA ₹9.7cr up 34.72% QoQ basis.
4. Net profit ₹5 cr up YoY basis
5. EBITDA Margin - 12.55%.

6. PAT Margin:6.47%.
Business Update

1. Growth in Revenues for the quarter has been driven mainly by increased outsourcing by all top clients.
2. The company added 3 new strategic customers during the quarter, including a preferred supplier to a larger European Automotive major

3. Strategic customers means customers which have the potential to outsource minimum $10Mn revenue to one single supplier.

4. Net headcount addition of 210 employees during the quarter taking total headcount to 2481.

5. The company successfully launched their First Embedded & Electronics – Centre of Excellence (COE) in Pune with a team of 50 engineers in Q3, which will start generating revenues after a 9 month investment period.

6. The company concluded the transaction for acquisition of NV Pune Technology Park Pvt Ltd for buying the offshore delivery Centre in Pune.

7. The company was awarded by Dun & Bradstreet under the SME Category.

Future Outlook

1. For 2022 the company sees a huge opportunity in front of them from both existing and new client acquisition
2. They hope in the next few quarters, the company will have 10 customers,

which potentially have an exit run rate of revenues of $10 million per year, which takes them to their spoken ambition goal of $100 million of revenue.

3.The overall percentage of their IT business as compared to overall business can go down as the company's focus shifts to Digital, Cloud and other new age technologies.