Onward Technologies Bags ₹33 Crore Engineering Contract; Shares Jump

Mumbai, June 25: Onward Technologies Ltd has secured an engineering services contract worth approximately ₹33 crore from a leading global power management company to establish a Dedicated Offshore Development Centre (ODC), according to an exchange filing.

The contract, spread over three years, is aimed at strengthening the client’s engineering research and development (ER&D) capabilities while supporting its Data Center business. Although the customer has not been named, the company described it as a leading global player in the power management industry.

As part of the engagement, Onward Technologies will set up a dedicated offshore delivery centre that will provide engineering and R&D services, enabling faster product development and execution for the client’s data centre segment.

The company said the order has been awarded by a domestic entity and that the transaction is not a related-party deal.

Contract Strengthens Engineering Services Portfolio

The latest order adds to Onward Technologies’ growing engineering services business, an area where the company has been expanding its presence across industrial, automotive and digital engineering segments.

Dedicated Offshore Development Centres have become an increasingly preferred delivery model for global enterprises looking to access specialised engineering talent while improving development efficiency and reducing costs. Such engagements also tend to provide better revenue visibility because of their multi-year nature.

With a three-year tenure, the new contract is expected to support capacity utilisation while strengthening the company’s presence in the engineering research and development services market.

Stock Market Snapshot

Investors reacted positively to the contract announcement.

As of 12:49 IST on June 25, 2026, Onward Technologies shares were trading at ₹302.60, up ₹34.20 or 12.74%. The Onward Technologies share price extended its gains after the company disclosed the multi-year engineering services contract.

The sharp move reflects investor optimism around the revenue visibility offered by long-duration ER&D engagements, particularly in the fast-growing data centre ecosystem, where global companies continue to increase investments in digital infrastructure.

Company Background

Onward Technologies is an engineering research and development services company that provides digital and engineering solutions to clients across transportation, industrial equipment, healthcare, energy and hi-tech industries.

The company specialises in product engineering, embedded systems, digital transformation and mechanical engineering services, helping global manufacturers accelerate product development through offshore engineering capabilities.

Conclusion

The ₹33 crore engineering services contract reinforces Onward Technologies’ position in the ER&D outsourcing market while expanding its exposure to the rapidly growing data centre segment. Beyond the immediate order value, the three-year engagement provides revenue visibility and deepens the company’s relationship with a global power management customer, making execution progress on the offshore development centre a key area for investors to watch.

Source:

• https://www.nseindia.com/get-quote/equity/ONWARDTEC/Onward-Technologies-Limited
• https://nsearchives.nseindia.com/corporate/MD11015_25062026102251_Stock_Exchange_Intimation_250626.pdf