Analysts/Institutional Investor Meet/Con. Call Updates

Ref No.: OTL/Secretarial/SE/2026-27/67 Date: October 26, 2026 BSE Limited National Stock Exchange of India Ltd., Phiroz Jeejeebhoy Towers, Plot No. C/1 'G' Block Dalal Street, Mumbai – 400023 Bandra – Kurla Complex Bandra East, Mumbai 400051 Ref: Scrip Code - BSE: 517536 NSE: ONWARDTEC Sub: Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Investor’s Conference Dear Sir, Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose the transcript of Analyst and Investor Conference Call for the quarter and half year ended September 30, 2026, held on Friday , October 16, 2026. The link to access the transcript of the earnings conference call Q2 FY 2026-27 Earnings Call Transcript.pdf Request you to take the same on record. For Onward Technologies Limited Aakash Joshi Company Secretary & Compliance Officer Membership No:- A60953 Regd. address.: 2nd floor, Sterling Centre, Dr. A.B. Road, Worli, Mumbai 400018. Tel: +91 22 24926570 CIN: L28920MH1991PLC062542 | email: compliance@onwardgroup.com | website: www.onwardgroup.com Mumbai | Pune | Chennai | Bengaluru | Hyderabad | Chicago | Detroit | Birmingham | Munich | Toronto “Onward Technologies Limited Q2 & H1 FY27 Earnings Conference Call” October 16, 2026 MANAGEMENT: MR. JIGAR MEHTA – MANAGING DIRECTOR – ONWARD TECHNOLOGIES LIMITED MODERATOR: MR. LUV GUPTA – GO INDIA ADVISORS Page 1 of 13 Onward Technologies Limited October 16, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Onward Technologies Limited Q2 and H1 FY27 Earnings Conference Call hosted by Go India Advisors. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touch-down phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Luv Gupta from Go India Advisors. Thank you, and over to you Luv. Luv Gupta: Thank you, Danish. Good afternoon, everybody, and welcome to Onward Technologies Limited earnings conference call to discuss the Q2 and H1 FY27 results. We have on the call Mr. Jigar Mehta, Managing Director. We must remind you that the discussion on today's call may include certain forward-looking statements and therefore, must be viewed in conjunction with the risks that the company may face. May I now request Mr. Jigar Mehta to take us through the company's business outlook and performance, subsequent to which we will open the floor for question and answers. Thank you, and over to you, sir. Jigar Mehta: Thank you, Luv. Good evening, everyone, and thank you for joining us today. I appreciate your continued interest in Onward Technologies, and I'm very pleased to share our Q2 and H1 FY27 performance. Q2 FY '27 marks an important milestone in our transformation journey. We delivered our highest ever quarterly revenue at INR170.2 crores, representing a 22.4% Y-o-Y growth and 13.9% sequential growth. Total income for the quarter was INR171.2 crores, while EBITDA grew 33.7% year-on-year to INR26.6 crores, with margins expanding to all-time high at 15.6%. PAT increased 41.2% Y-o-Y to INR16.8 crores. These results reflect the operating leverage we continue to build into our businesses. What is particularly encouraging for me is the quality of the growth. It was driven by deeper engagement with strategic customers, improved utilization, higher productivity and strong offshore execution. I want to take a moment to congratulate my entire team for a very disciplined execution and operational management. Our focus as an organization remains firmly on delivering growth and converting execution excellence into sustainable profitability. The U.S. and Europe regions continue to be our primary growth engines. We also increased the number of customers billing for $1 million annually from 16 to 18, demonstrating our ability to expand wallet share within our existing clients. A major highlight this quarter was the renewal of a 3-year digital engineering engagement valued at approximately INR44.5 crores with a global construction and mining equipment leader. The contract value increased by over 70% compared to the previous term, reflecting our customers' confidence in our ability to deliver quality and in our long-term partnership approach. This is very important because the earlier contract was also sizable. While we had the statement of work Page 2 of 13 Onward Technologies Limited October 16, 2026 and the contract, we were getting deals on a 6 monthly or annual basis. This time, the customer has awarded us the entire contract. And as we speak, we are participating in bids for several large RFPs with our existing customers. We are also seeing a lot of encouraging opportunities across the U.S. and Europe for digital engineering, AI-led transformation programs, data center infrastructure engineering and particularly in areas such as power management, cooling systems and intelligent industrial platforms. We will be happy to share more in the subsequent quarters. At the same time, we continue to invest significantly in hiring across all our 4 delivery centers in India, which is in Pune, Chennai, Bangalore and Hyderabad, to get ready for 2027. Based on the strong half year performance and the visibility we see across our customer portfolio, we have increased our FY27 outlook. We now expect revenue growth of 15% to 18% for FY27 and an EBITDA margin in the range of 13.8% to 14.3%. While we are obviously very pleased with the momentum, our focus remains on long-term value creation. We continue to strengthen our delivery engine, improve revenue productivity and expand offshore leverage and most importantly, deepen our engagement with our existing customers across all 3 verticals. We believe our Q2 performance demonstrates that the strategy we've been sharing with you over the last couple of years is now delivering results. The foundation we have built is now translating into stronger growth, expanding profitability and greater business resilience. We remain confident in our ability to scale sustainably and create long-term value for all our stakeholders. Thank you once again for joining us today. With that, let me hand over the call back to the operator, and we look forward to your questions. Thank you again. Moderator: Thank you so much, Ladies and gentlemen, we will now begin with a question-and-answer session. First question comes from the line of Hitaindra Pradhan with Maximal Capital. Please go ahead. Hitaindra Pradhan: Congrats on the good quarter. My first question is related to the revenue guidance that you provided. I mean, can you just double-click on what is happening in the segment-wise and where do you see more RFQs or that order buildup? And what gives you that confidence that we can sustain this revised growth guidance? Jigar Mehta: So, we upgraded our guidance based on strong H1 execution and the improved visibility that we have from our existing customers, especially across North America. It's the momentum that we have with our customers, the hiring that we have done in the last 6 months, we've onboarded net about 430-plus employees and the RFQs that we are participating in, especially given the large demand in the AI data center space. So, most of our manufacturing customers in the industrial segment have been growing rapidly. There is a huge talent requirement across U.S. and offshore. And we have been building our Page 3 of 13 Onward Technologies Limited October 16, 2026 capabilities over the last many years, and now we are finally seeing clear visibility towards that. Hence, we feel comfortable giving a 15% to 18% revenue growth guidance. Hitaindra Pradhan: Understood. And on this DC opportunity, can you just give us som [Showing first 8,000 characters — download PDF for full document]