Archives May 2026

 

Dallas, TX – May 5, 2026 — WaveMaker, the leading agentic AI system for enterprise-grade web and mobile application teams, today announced significant early momentum following its February launch of its new agentic application generation system. Within weeks of opening trial sign-ups at wavemaker.ai, the company has seen strong demand from enterprise development teams across financial services, banking, energy, supply chain, and telecommunications — industries where code quality, architectural governance, and predictable costs are non-negotiable.

 

The response validates WaveMaker’s core thesis: that enterprise development teams need more than speed from agentic AI; they need a full system that guarantees safe, cost-effective, and reliable outcomes.

 

This momentum follows Accenture and WaveMaker recently announcing strategic intent to bring platform-driven, agentic AI powered application modernization and new digital capabilities to high-growth organizations with up to $3 billion in annual revenue. This collaboration aims to accelerate cost-effective delivery and reduce operational risk for clients while maintaining consistency, quality, and control across their application landscape.

 

“WaveMaker has transformed our development lifecycle by making high-end application building both fast and intuitive. Beyond the speed of delivery, the platform allows us to create meaningful screen designs and powerful, data-driven reports purpose-built for our specific business needs. It’s a rare solution that balances sophisticated technical capability with 30% cost savings,” said Laxmi Vermaraju, Sr. Applications Manager at Colruyt Group, Belgium’s largest supermarket retailer.

 

“WaveMaker has become a cornerstone of our digital transformation, delivering a high-performance, on-premises solution that balances rapid UI development with rigorous enterprise standards. By leveraging its intuitive widget library and seamless integration with SAML authentication and GitLab CI/CD, we have significantly accelerated our development cycles while maintaining a secure, professional-grade application lifecycle. WaveMaker doesn’t just speed up coding; it optimizes our entire delivery process for maximum efficiency and ROI,” said Jean-Christophe Chatraz, Technical Leader at the Etat de Genève.

 

“Working with WaveMaker has accelerated how we bring agentic AI to front-office trading and research workflows,” said Nataraj Dasgputa, Senior Vice President of AI Solutions at KX. “By combining KX’s real-time analytics, AI infrastructure, and KDB-X’s ability to work across both structured and unstructured data with WaveMaker’s agentic platform for rapidly building secure, enterprise-grade user interfaces, we are developing innovative trading agent workflows that help teams move faster from market data and contextual information to decision-ready insight. Together, this creates a powerful foundation for what we believe is one of the industry’s first agentic AI trading workflow environments for the front office.”

 

Early trials consistently highlight that WaveMaker’s architecture-first, two-pass code generation approach, which separates AI-driven intent from deterministic code output, dramatically reduces the review and rework cycles that have made other AI coding tools impractical at team and enterprise scale.

 

“The pattern we’re seeing is consistent,” said Vikram Srivats, Head of Product Experience at WaveMaker. “Enterprise teams try WaveMaker and immediately see the difference that architecture-first generation makes. They’re not just getting faster output, they’re getting output their teams can actually understand, own, extend, ship and maintain with confidence.”

 

Recently, WaveMaker’s WaveXD 5G-integrated application marketplace was named a Gold Winner in the Juniper Research Future Digital Awards for Telco Innovation 2026, recognizing it as a leading Network API Solution Innovation. WaveMaker was also named a finalist for the 2025 Glotel Awards in the 5G Innovation of the Year category — one of the telecom industry’s most competitive and prestigious recognitions.

 

Business Wire India

• FY26: Highest-ever revenue of INR 550.9 crore, up 10.5% YoY; record EBITDA of INR 71.9 crore with 13.2% margin
• Cash flow: Strong operating cash flow generation, supported by disciplined execution and working-capital rigor
• Q4 FY26: Total revenue of INR 139.0 crore, reflecting YOY growth of 6.9%

Onward Technologies Limited (BSE: 517536) (NSE: ONWARDTEC), a global digital engineering and ER&D services partner, announced today its financial results for the Fourth Quarter and Full Year of FY26 ended 31^st March 2026.

Commenting on the results, Mr. Jigar Mehta, Managing Director, Onward Technologies, said, “FY26 marks our strongest annual performance to date, delivering record revenue of INR 550.9 crore and record EBITDA of INR 71.9 crore, with EBITDA growing 60.9% YoY and margins expanding to 13.2%. This performance was anchored in execution excellence, operating leverage and sharp cost discipline, while maintaining strong cash generation from the business.

This outcome reflects a revenue CAGR of 15.3% and an EBITDA CAGR of 35.4% over the last four years (FY22-FY26), with our overall headcount at 2,485.

During the year, we saw sustained momentum across ER&D and digital engineering services, supported by deeper engagement with strategic accounts. We continue to invest in strengthening our capabilities and expanding our presence across the US and Europe.

In line with our capital allocation priorities and commitment to consistent shareholder returns, the Board has recommended a record dividend of INR 8 per share, our 11^th consecutive annual dividend and an increase over last year.

While the macro environment remains dynamic, demand for engineering services remains resilient. As we enter FY27, we will continue to focus on delivery-led growth, scaling our offshore model, deepening strategic accounts and strengthening vertical specialization, aimed at driving sustained double-digit growth in Revenue and EBITDA.”

Consolidated Financial Highlights for the Quarter Ended 31^st March 2026

Particulars (in INR Crore)	Q4 FY26	Q3 FY26	Q4 FY25	YoY Growth	FY26	FY25	YoY Growth
Total Revenue	139.0	136.1	130.0	6.9%	550.9	498.5	10.5%
EBITDA	15.3	19.6	13.9	10.1%	71.9	44.7	60.9%
EBITDA Margin (%)	11.2%	14.6%	10.9%	24 bps	13.2%	9.1%	412 bps
Profit After Tax (PAT)	9.5	12.6*	10.6	(10.4%)	46.7*	27.1	72.3%
PAT Margin (%)	6.9%	9.4%*	8.3%	(140 bps)	8.6%*	5.5%	307 bps
EPS (INR) – Diluted	4.23	5.87*	4.56	(7.2%)	20.57*	11.80	74.3%

* Excluding one-time exceptional item due to new labour code in Q3 FY26

Key Highlights – Q4 / FY26

• FY26
  • Total revenue growth of 10.5% YoY to INR 550.9 crore
  • EBITDA margin of 13.2%, with EBITDA at INR 71.9 crore
  • PAT* at INR 46.7 crore with growth of 72.3% YoY
  • Strong operating cash flow generation, reflecting disciplined execution and working-capital focus
  • Board recommended record dividend of INR 8 per share for the 11th consecutive year
• Q4 FY26 total revenue was INR 139.0 crore, reflecting a growth of 6.9% YoY, with an EBITDA margin of 11.2% and EBITDA growth of 10.1 % YoY.
• Top 25 clients contribute 88% of total revenues.
• Total headcount stood at 2,485 employees.
• Attrition at 14.85% (LTM).

* Excluding one-time exceptional item due to new labour code in Q3 FY26

Business Wire India

• A pioneer in smoke-free tobacco products, Philip Morris International is the only company that has received modified risk tobacco product authorizations for heated tobacco products.
• In their order, FDA concluded that: “Scientific studies have shown that switching completely from conventional cigarettes to the IQOS system significantly reduces your body’s exposure to harmful or potentially harmful chemicals.”

The U.S. Food and Drug Administration (FDA) announced that it has authorized the renewal of modified risk tobacco product (MRTP) orders previously granted to PMI for two versions of the IQOS device and three variants of the tobacco consumables, commercialized under the HEETS brand. This renewal allows PMI to continue sharing reduced-exposure information with U.S. adults 21+ who use traditional tobacco products, such as combustible cigarettes.

The agency concluded that renewing the IQOS and HEETS MRTP authorizations is appropriate to promote public health and is expected to benefit the health of the population as a whole, taking into account both users of tobacco products and persons who do not currently use tobacco products.

“As the only company to have successfully secured and maintained MRTP authorizations for heated tobacco products in the U.S., we are confident that our science-based alternatives can help adult smokers transition away from combustible cigarettes,” said Stacey Kennedy, CEO, PMI U.S. “This decision from the FDA reflects both the rigorous scientific foundation supporting IQOS and our ongoing commitment to responsibly deliver smoke-free choices to adult consumers.”

In issuing the MRTP renewal orders for IQOS, the FDA reaffirmed that “the scientific evidence that is available without conducting long-term epidemiological studies demonstrates that a measurable and substantial reduction in morbidity or mortality among individual tobacco users is reasonably likely.”

The IQOS 2.4 system was the first heated tobacco product authorized via the FDA’s MRTP process in 2020 as “appropriate for the promotion of public health,” following its authorization through the premarket tobacco product application (PMTA) process in 2019. The IQOS 3 system secured MRTP authorization in 2022, following premarket authorization in 2020. The FDA continues to review PMTAs for IQOS ILUMA, and given its strong application and demonstrated track record of converting legal age smokers to a better alternative, PMI believes the application warrants expeditious FDA action.

PMI’s MRTP submission included an extensive body of scientific evidence indicating that the IQOS system produces aerosol with substantially lower levels of harmful and potentially harmful constituents compared with cigarette smoke. While no tobacco product is risk-free, a growing body of real-world data—including from markets such as Japan—indicates that the availability of heated tobacco products has been associated with notable reductions in combustible cigarette consumption.

Heated tobacco products, such as IQOS, heat tobacco without burning it, significantly reducing the formation of the harmful chemicals created by combustion while delivering real tobacco taste and nicotine satisfaction. The renewed authorization covers the following products:

• IQOS 2.4 System Holder and Charger
• IQOS 3.0 System Holder and Charger
• HEETS: Amber, Green Menthol, Blue Menthol

PMI U.S. is focused on providing better options than traditional tobacco products to America’s 45 million legal-age nicotine consumers—approximately 25 million of whom still smoke cigarettes, by far the most harmful way to consume nicotine.

Since 2008, PMI has invested over $16 billion globally to develop, scientifically substantiate, and commercialize innovative smoke-free products for adults who would otherwise smoke, with the goal of completely ending the sale of cigarettes.

PMI first entered the U.S. market in 2022, following its acquisition of Swedish Match—a leader in oral nicotine delivery—creating a global smoke-free champion. PMI’s ambition is that all adults who would otherwise continue to smoke leave cigarettes behind for good by either quitting altogether or switching completely to scientifically substantiated smoke-free products as soon as possible. Regulatory policies and decisions can substantially accelerate the speed and magnitude of this historic change.

Business Wire India

• ATLAS participated as an exclusive Cornerstone investor in United Utilities’ equity placement, expanding its existing investment to establish a significant minority shareholding.
• ATLAS was pleased with the strong support for the transaction from other long-term shareholders signalling broad support for United Utilities’ investment and growth strategy.
• United Utilities’ fully funded capital investment program underpins a strong multi-year growth trajectory¹.

 

ATLAS Infrastructure (“ATLAS”) is a specialist Global Listed Infrastructure investor managing capital on behalf of its funds and long-term institutional clients. ATLAS has been an investor in UU since 2019 and, following the recent equity placement, ATLAS’s actively managed accounts hold a ~6.6% voting and economic interest in United Utilities plc (“UU”).

 

ATLAS recognises the positive new direction established for the UK water sector and welcomes the opportunity to support UU management’s investment plan which will deliver the critical infrastructure required to support housing and industrial growth across North West England, as well as playing a crucial role in supporting nationally important initiatives related to AI data centres and sustainable energy.

 

 

ATLAS strongly supports UU’s decision to raise new equity in order to accelerate its investment program through providing significant balance sheet capacity and financial flexibility through to the end of AMP8 in 2030. ATLAS values the opportunity to deepen its relationship with the company through ATLAS’ cornerstone role in the recent equity placement.

 

 

“The Water sector globally is facing unprecedented challenges caused by population growth and climate change at the same time as needing to continuously improve environmental performance. We are pleased to have been able to deliver the funding to allow United Utilities to accelerate their investment program to meet these challenges and deliver the outcomes expected by customers, regulators and Government stakeholders”.
– Rod Chisholm, Partner ATLAS Infrastructure

 

 

¹ ATLAS estimates

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260505262496/en/

 

 

 

 

 
Hyderabad, May 05: India’s mobility and logistics sector witnessed relatively stable trucking activity during April, following the strong momentum seen at the close of the financial year. Truck rentals across key trunk routes remained firm, with marginal month-on-month changes and continued resilience on a year-on-year basis.
 
On a month-on-month basis, trends remained mixed. Rentals increased on key routes such as Delhi–Kolkata–Delhi by around 2.4% and Kolkata–Guwahati–Kolkata by about 2%, along with Delhi–Mumbai–Delhi, Mumbai–Chennai–Mumbai and Bengaluru-led corridors that recorded modest increases. However, select routes including Mumbai–Kolkata–Mumbai and Delhi–Bengaluru–Delhi witnessed marginal declines, reflecting softer demand in certain pockets. On a year-on-year basis, trucking activity remained resilient across major routes, led by Delhi–Kolkata–Delhi at around 12%, followed by Bengaluru–Mumbai–Bengaluru and Mumbai–Chennai–Mumbai at about 10% each, while Delhi–Mumbai–Delhi grew by nearly 9%, indicating sustained long-haul demand.
 
Fuel consumption trends reflected this cooling in activity. Petrol consumption declined by about 3% month-on-month, while diesel consumption fell by nearly 5%, indicating relatively lower freight movement.
 
Vehicle sales trends remained mixed in April, with strength in select segments and sequential moderation in others. Bus and maxi cab sales rose by around 9% and 7% month-on-month, respectively, driven by sustained passenger mobility demand, while e-rickshaws continued to see steady growth. However, passenger vehicles, two-wheelers, and agriculture-linked and freight-oriented segments witnessed a seasonal softening following March’s high base.
 
Electric vehicle (EV) trends remained structurally strong despite a high base effect. Electric three-wheelers grew by around 5% month-on-month, driven by continued adoption in commercial and last-mile segments. While electric two-wheelers and passenger vehicles saw a sequential dip, this was largely due to March’s elevated base. On a year-on-year basis, growth remained robust across segments, with two-wheelers, three-wheelers, and passenger vehicles rising by 69%, 106%, and 125%, respectively, underscoring sustained expansion.
 
Air cargo trends provided a broader macro perspective, indicating steady year-on-year growth in logistics activity. Freight movement across key airports remained strong, with Chennai recording growth of over 11%, followed by Hyderabad at nearly 10% and Bengaluru at close to 6%. Passenger traffic also remained robust in markets such as Bengaluru and Hyderabad, reflecting continued strength in economic and travel activity, even as trends varied across cities.

 
Macro indicators further pointed to a softening in movement. FASTag collections declined by around 1% in volume and over 2% in value on a month-on-month basis, suggesting lower highway traffic and freight flows compared to March.