Onward Tech: Promising IT?
Onward Tech Q4-FY23 Concall
1. Despite uncertain macro events, the company was able to achieve its target milestones. Witnessed growth in all 3 verticals.
2. Aspire to see continuous improvement in EBITDA margins; the top 25 clients continue to grow very well.
3. Pawan Nathani has joined as new CFO, he has 20+ years of experience in the industry.
4. Very positive on FY24 & FY25; this FY focus on improving financial performance with growing bottom line, no plans as of now to go into new markets.
5. India business is focused on GCC customers; India revenue will be around 30% and international at 70%. Seeing a positive trend on margins front and confident to achieve the mid teen margins during FY24 close.
6. Continue to believe that we will be able to achieve 100m by FY26 easily. Company is also looking at inorganic opportunities; the revenue target is from both organic and inorganic.
7. Huge opportunity in all 3 verticals; healthcare could grow much faster as compared to other verticals. Entire healthcare is from US & Europe. Currently it contributes 8% of revenue (low base). Hope to sign 1 very big client in Q1 or Q2.
8. Out of the 98 clients signed in the last few quarters many of them have potential to reach the size of top 25 clients.
9. Mid teens will be our target on margins for FY26; expanding offshore in the next few years. Opportunity is huge over there, as company is getting close to their clients and getting into all 3 regions i.e, US, Europe and India.
1. Despite uncertain macro events, the company was able to achieve its target milestones. Witnessed growth in all 3 verticals.
2. Aspire to see continuous improvement in EBITDA margins; the top 25 clients continue to grow very well.
3. Pawan Nathani has joined as new CFO, he has 20+ years of experience in the industry.
4. Very positive on FY24 & FY25; this FY focus on improving financial performance with growing bottom line, no plans as of now to go into new markets.
5. India business is focused on GCC customers; India revenue will be around 30% and international at 70%. Seeing a positive trend on margins front and confident to achieve the mid teen margins during FY24 close.
6. Continue to believe that we will be able to achieve 100m by FY26 easily. Company is also looking at inorganic opportunities; the revenue target is from both organic and inorganic.
7. Huge opportunity in all 3 verticals; healthcare could grow much faster as compared to other verticals. Entire healthcare is from US & Europe. Currently it contributes 8% of revenue (low base). Hope to sign 1 very big client in Q1 or Q2.
8. Out of the 98 clients signed in the last few quarters many of them have potential to reach the size of top 25 clients.
9. Mid teens will be our target on margins for FY26; expanding offshore in the next few years. Opportunity is huge over there, as company is getting close to their clients and getting into all 3 regions i.e, US, Europe and India.
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