Onward Technologies Limited

rs,

BSE Ltd. P. J. Towers, Dalal Street, Mumbai – 400 001 Date: March 17, 2023 National Stock Exchange of India Ltd. ‘Exc

80%

automotive & 5 of global top-10 industrial equipment manufacturers • Top 25 clients contributed 80% of revenue in 9M FY2023 • 15 clients with annual billing run-rate of $1M or more Digital play acro

50%

lectronics engineering services • Mechanical engineering services Geared for double-digit growth • 50% revenues from USA, Europe; rest from India • Margin expansion through offshoring • ~90% revenues fr

90%

it growth • 50% revenues from USA, Europe; rest from India • Margin expansion through offshoring • ~90% revenues from low-risk Time & Material model • Delivered 28% y-o-y revenue growth in FY22, 50% in

28%

Margin expansion through offshoring • ~90% revenues from low-risk Time & Material model • Delivered 28% y-o-y revenue growth in FY22, 50% in Q3 FY2023 Why clients work with us • Cost-effectiveness: In

24.2%

offices in London, Germany  All new embedded lab in Pune 9 1 0 2  Infinity Holdings buys 24.2% equity  New digital center in Chennai, ER&D center in Hyderabad  Acquired Pune offshore cap

100%

nter in Chennai, ER&D center in Hyderabad  Acquired Pune offshore capability center through 100% internal accruals 1 2 0 2  100% subsidiary set up in USA, Germany  Branch office opened in

39%

M: 3196 9M-FY23 Revenue by Geos (INR Mn) FY21: 2404 9M: 1740 9M: 2198 FY21 FY22 9M-FY23 USA 39% USA Europe India India 56% Europe 5% • Revenue grew 26% from INR 174 crores to INR 220 crores

56%

eos (INR Mn) FY21: 2404 9M: 1740 9M: 2198 FY21 FY22 9M-FY23 USA 39% USA Europe India India 56% Europe 5% • Revenue grew 26% from INR 174 crores to INR 220 crores in 9 months FY22. • For the

5%

FY21: 2404 9M: 1740 9M: 2198 FY21 FY22 9M-FY23 USA 39% USA Europe India India 56% Europe 5% • Revenue grew 26% from INR 174 crores to INR 220 crores in 9 months FY22. • For the same period

26%

740 9M: 2198 FY21 FY22 9M-FY23 USA 39% USA Europe India India 56% Europe 5% • Revenue grew 26% from INR 174 crores to INR 220 crores in 9 months FY22. • For the same period in FY 23, it grew 4

INR 174 crore

2198 FY21 FY22 9M-FY23 USA 39% USA Europe India India 56% Europe 5% • Revenue grew 26% from INR 174 crores to INR 220 crores in 9 months FY22. • For the same period in FY 23, it grew 45% from INR 220 cr

“ ER&D Spending has recovered quickly despite economic uncertainties and evolving geopolitical landscapes and will continue to grow at a CAGR of 17% over 3 years reaching USD 2,325 Bn by 2025.”

“Even as enterprises continue to balance the twin priorities of employee safety and wellness and enterprise digital transformation, they plan to spend big on digital – 60% companies plan 6% higher technology spend in FY2022.”

“Indian software industry body Nasscom forecasts 15-20% CAGR growth in digital transformation spend globally.”

Growth in revenue from

1

Reflects cost from

1

Valorem Advisors Disclaimer

1

Appendix

1

Reflects cost from

1) Digital Engineering & ER&D services + 2) Legacy business + 3) New business building blocks Multi-year client engagements Consistent industry- leading growth Steady growth in offshore leverage Business building costs International offices, Sales team expansion in USA & EU+UK, SME hiring to strengthen Delivery Investments in talent to address future client demand Proactive hiring engineering graduates (TAP) from top-tier institutes across the country 5 Strategic alignment across lines of business, focus verticals Lines of business Focus verticals Digital • Engineering Automation • Big Data Analytics • Cloud & DevOps • AI/ML • Digital with AR/VR Mechanical • New Product Design & Development • Value Engineering • Virtual Simulation • Manufacturing Engineering • Technical Publication Embedded • Platform Services - Hardware, Software • Connectivity Solutions • Product Sustenance & Modernization • After Market Support • Verification & Validation IT • SW Development & Maintenance • Enterpri

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Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness, and reasonableness of the contents of this Presentation. This Presentation may not be all-inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review. For further details, please feel free to contact our Investor Relations Representatives: Mr. Anuj Sonpal Valorem Advisors Tel: +91-22-4903 9500 Email:

Appendix

Industry updates Engineering R&D Service Industry  The global Engineering and R&D market has had a good start to the new decade; spending increased by 5.7% Y-o-Y to exceed USD 1.3 Tn in 2021.  ER&D Spending has recovered quickly despite economic uncertainties and evolving geopolitical landscapes and will continue to grow at a CAGR of 17% over 3 years reaching USD 2,325 Bn by 2025.  India accounted for a third of the USD 120 Bn global ER&D sourcing market  The renewed interest in R&D led growth has shifted the focus on identifying the most suitable locations to expand ER&D operations.  E R&D GCC’s have matured to drive end-to-end ownership for products. From executing less complex engineering work to achieve cost reduction, the ER&D GCC’s have become innovation centers and strategic partners developing new products and owning the entire product value chain as well as driving global innovation and developing future technologies and domains such as AI/ML, IoT, automation and robotics