Onward Technologies 9M FY20 EBITDA Grows 41 percent, PBT and PAT Grow 23 percent and 33 percent Respectively. EPS for the 9M Period Recorded at INR 5.77 Per Share

Mumbai, Maharashtra, India | 24^th January 2020: Onward Technologies Limited (BSE: 517536 & NSE: ONWARDTEC) announces its results for the quarter ending December 31, 2019.

Commenting on the performance of the company, Jigar Mehta – Managing Director said, “Q3 was an important quarter for us. Our investments in building Digital capabilities and strengthening capacities for meeting requirements of our strategic clients started yielding results. This has now transpired into several large project renewals, customer accolades and new project wins from leading global manufacturing organisations. We also made significant breakthroughs in our first few large accounts in the Industrial Equipment, Pharma and Medical Equipment sectors. We feel positive starting 2020 with such a strong clientele & are excited in scaling our business in the Digital and Industry 4.0 journey with them. I also want to take this opportunity to congratulate our entire team for achieving 100% Debt Free status of Onward eServices Ltd. (100% subsidiary of Onward Technologies Ltd.), our domestic IT services business.”