Onward Technologies Ltd

Onward Technolog Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Onward Technologies Ltd

₹ 267 -1.23%
14 May - close price
onwardgroup.com BSE: 517536 NSE: ONWARDTEC
About

Incorporated in 1991, Onward Technologies is a software and technology services outsourcing company specializing in digital, embedded, mechanical engineering for global original equipment manufacturers (OEMs) in Industrial Equipment, Heavy Machinery, Power Generation, Renewables, Hydro Energy, Construction, Agricultural and Mining Equipment, Automotive, Rail Transportation Healthcare and Life Sciences.[1]

Key Points

Business Overview:[1]
Onward Technologies works with 80 plus North American & European original equipment manufacturers (OEMs) companies and helps them accelerate innovation and drive smarter products to market, while maximizing total returns on their R&D investments. With 6 global Sales offices and India delivery excellence centres across Pune, Chennai, Bangalore and Hyderabad, the company offers its global clients the benefits of both global presence and local reach, access to an expert talent pool and the agility to ramp up complex engineering projects rapidly. OTL is ISO 9001 TUV Nord and TISAX certified.

Website BSE NSE
  • Market Cap ₹ 610 Cr.
  • Current Price ₹ 267
  • High / Low ₹ 385 / 208
  • Stock P/E 17.7
  • Book Value ₹ 94.0
  • Dividend Yield 1.87 %
  • ROCE 20.6 %
  • ROE 16.6 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 22.3% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 47.6%
  • Debtor days have improved from 64.2 to 37.5 days.
  • Company's working capital requirements have reduced from 72.8 days to 29.6 days

Cons

  • Promoter holding has decreased over last 3 years: -6.14%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
88.02 84.49 87.09 85.19 89.18 89.55 95.73 96.50 99.30 103.32 108.25 101.86 103.35
74.83 73.28 75.37 75.34 80.66 77.97 86.73 86.35 91.98 89.60 90.72 87.60 92.05
Operating Profit 13.19 11.21 11.72 9.85 8.52 11.58 9.00 10.15 7.32 13.72 17.53 14.26 11.30
OPM % 14.99% 13.27% 13.46% 11.56% 9.55% 12.93% 9.40% 10.52% 7.37% 13.28% 16.19% 14.00% 10.93%
2.10 1.22 2.51 3.25 3.31 2.67 2.77 2.44 3.30 2.70 1.82 -0.97 2.36
Interest 0.39 0.34 0.31 0.28 0.51 0.65 0.70 0.70 0.65 0.62 1.09 0.81 0.81
Depreciation 3.21 3.19 3.20 3.25 3.25 3.41 3.39 3.36 3.42 3.29 4.45 4.28 4.52
Profit before tax 11.69 8.90 10.72 9.57 8.07 10.19 7.68 8.53 6.55 12.51 13.81 8.20 8.33
Tax % 25.49% 25.39% 25.47% 26.02% 25.28% 25.42% 25.52% 26.73% 26.72% 25.42% 25.49% 26.10% 22.33%
8.71 6.63 7.99 7.08 6.02 7.61 5.72 6.25 4.80 9.33 10.30 6.06 6.48
EPS in Rs 3.90 2.96 3.56 3.15 2.67 3.37 2.53 2.76 2.12 4.10 4.53 2.66 2.85
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
87 89 93 107 118 181 173 234 315 346 381 417
77 79 88 103 103 166 153 217 287 305 343 360
Operating Profit 10 10 5 4 15 15 20 18 28 41 38 57
OPM % 11% 11% 5% 3% 13% 8% 11% 8% 9% 12% 10% 14%
0 1 7 7 5 7 8 5 8 10 11 6
Interest 2 2 2 2 2 3 2 1 2 1 3 3
Depreciation 5 3 4 5 5 10 9 9 13 13 14 17
Profit before tax 3 6 5 3 13 8 17 13 22 37 33 43
Tax % 42% 81% 44% 34% 29% 28% 24% 28% 25% 26% 26% 25%
2 1 3 2 9 5 13 9 16 28 24 32
EPS in Rs 1.19 0.72 1.95 1.42 5.92 3.38 7.75 4.23 7.30 12.31 10.75 14.13
Dividend Payout % 0% 138% 51% 71% 25% 44% 39% 71% 41% 41% 47% 56%
Compounded Sales Growth
10 Years: 17%
5 Years: 19%
3 Years: 10%
TTM: 9%
Compounded Profit Growth
10 Years: 42%
5 Years: 22%
3 Years: 29%
TTM: 41%
Stock Price CAGR
10 Years: 14%
5 Years: 16%
3 Years: -13%
1 Year: 4%
Return on Equity
10 Years: 13%
5 Years: 13%
3 Years: 15%
Last Year: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 15 15 15 16 16 16 16 22 22 23 23 22
Reserves 28 28 34 36 45 45 57 126 139 165 179 191
14 19 17 18 17 22 10 18 15 26 29 34
24 30 20 21 19 34 34 48 42 47 61 67
Total Liabilities 80 92 86 92 98 118 117 214 218 261 291 315
11 10 14 13 13 26 29 38 35 44 44 66
CWIP 0 0 0 0 0 0 0 0 0 1 2 0
Investments 28 28 39 39 39 12 12 32 33 33 33 33
41 54 32 39 46 80 76 144 150 183 212 215
Total Assets 80 92 86 92 98 118 117 214 218 261 291 315

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
12 -1 10 7 7 30 27 4 4 67 34 60
-5 -2 -4 -5 -3 -3 -8 -34 5 -62 -15 -17
-6 3 -1 -8 -4 -22 -15 57 -15 -17 -22 -33
Net Cash Flow 0 0 5 -6 0 5 4 28 -6 -12 -3 10
Free Cash Flow 12 -1 3 2 3 28 14 -1 -3 65 31 41
CFO/OP 138% 34% 128% 271% 79% 244% 113% 75% 25% 166% 105% 134%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 50 52 65 65 66 68 60 72 98 74 81 37
Inventory Days
Days Payable
Cash Conversion Cycle 50 52 65 65 66 68 60 72 98 74 81 37
Working Capital Days -46 -43 -44 -39 -13 -0 30 30 53 89 99 30
ROCE % 9% 13% 12% 8% 20% 13% 22% 11% 13% 20% 16% 21%

Insights

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Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Employee Headcount
Number

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Geographical Revenue Mix - India
%
Active Clients
Number
Client Concentration - Top 10 Clients
%
DSO (Billed + Unbilled)
Days
Revenue Mix by Contract Type - Time & Material
%

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
45.07% 44.96% 38.15% 38.12% 38.02% 37.94% 37.86% 38.66% 39.02% 39.02% 39.09% 39.07%
0.06% 0.09% 2.14% 2.50% 1.64% 8.97% 9.18% 9.30% 9.29% 9.21% 9.39% 9.83%
0.87% 0.84% 6.15% 7.65% 7.58% 7.38% 6.38% 3.86% 3.73% 4.00% 2.90% 3.54%
54.02% 54.12% 53.56% 51.73% 52.75% 45.73% 46.57% 48.19% 47.88% 46.90% 47.25% 46.20%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.07% 0.88% 1.36% 1.36%
No. of Shareholders 12,13314,27815,36516,93119,32721,42222,58222,72123,31022,26722,25420,829

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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