Onward Technologies Ltd

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

Onward Technologies Ltd

₹ 237 -1.98%
06 May 11:20 a.m.
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 ₹ 540 Cr.
  • Current Price ₹ 237
  • High / Low ₹ 385 / 208
  • Stock P/E 11.6
  • Book Value ₹ 111
  • Dividend Yield 2.11 %
  • ROCE 23.0 %
  • ROE 19.5 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 45.0% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 38.5%
  • Debtor days have improved from 72.2 to 57.5 days.
  • Company's working capital requirements have reduced from 81.3 days to 53.9 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

Consolidated Figures in Rs. Crores / View Standalone

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
121.37 119.62 120.24 114.09 118.44 117.60 123.04 123.39 127.29 133.15 138.97 134.62 137.12
106.04 102.94 105.04 103.42 108.79 105.90 115.08 112.18 113.44 116.01 119.10 115.09 121.81
Operating Profit 15.33 16.68 15.20 10.67 9.65 11.70 7.96 11.21 13.85 17.14 19.87 19.53 15.31
OPM % 12.63% 13.94% 12.64% 9.35% 8.15% 9.95% 6.47% 9.09% 10.88% 12.87% 14.30% 14.51% 11.17%
0.48 0.44 1.24 2.78 2.82 1.82 1.56 1.13 2.69 2.47 1.13 -1.64 1.92
Interest 0.39 0.36 0.33 0.31 0.34 0.51 0.59 0.59 0.53 0.50 0.96 0.71 0.71
Depreciation 3.25 3.26 3.28 3.31 3.12 3.32 3.33 3.30 3.44 3.18 4.21 4.04 4.36
Profit before tax 12.17 13.50 12.83 9.83 9.01 9.69 5.60 8.45 12.57 15.93 15.83 13.14 12.16
Tax % 40.51% 19.41% 25.33% 31.03% 25.75% 26.83% 36.79% 28.64% 17.10% 20.03% 24.57% 23.14% 21.38%
7.24 10.88 9.57 6.79 6.68 7.09 3.54 6.04 10.41 12.73 11.94 10.10 9.55
EPS in Rs 3.25 4.86 4.27 3.02 2.97 3.14 1.56 2.66 4.59 5.60 5.25 4.44 4.20
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
189 198 224 244 261 272 240 307 441 472 491 544
177 184 212 233 239 248 223 286 414 420 447 472
Operating Profit 13 14 11 11 22 23 17 22 27 52 45 72
OPM % 7% 7% 5% 5% 9% 9% 7% 7% 6% 11% 9% 13%
1 2 3 5 1 1 5 21 5 7 7 4
Interest 3 4 3 3 3 3 2 1 2 1 2 3
Depreciation 5 4 4 5 6 11 10 10 13 13 13 16
Profit before tax 5 8 7 8 15 10 10 32 18 45 36 57
Tax % 37% 61% 38% 11% 33% 35% 25% 26% 36% 25% 25% 22%
3 3 4 7 10 6 7 24 11 34 27 44
EPS in Rs 2.00 2.14 2.70 4.32 6.41 3.89 4.49 10.75 5.15 15.06 11.94 19.48
Dividend Payout % 0% 47% 37% 23% 23% 39% 67% 28% 58% 33% 42% 41%
Compounded Sales Growth
10 Years: 11%
5 Years: 18%
3 Years: 7%
TTM: 11%
Compounded Profit Growth
10 Years: 31%
5 Years: 45%
3 Years: 61%
TTM: 73%
Stock Price CAGR
10 Years: 13%
5 Years: 15%
3 Years: -9%
1 Year: 1%
Return on Equity
10 Years: 15%
5 Years: 15%
3 Years: 17%
Last Year: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 17 21 27 34 45 52 58 141 152 185 202 231
29 23 25 23 18 35 25 19 17 28 32 40
27 31 22 28 27 33 38 45 50 50 54 77
Total Liabilities 88 91 90 100 106 135 138 227 240 285 311 371
12 11 18 16 15 28 30 57 54 63 65 89
CWIP 0 0 0 0 0 0 0 0 0 1 2 0
Investments 0 0 0 0 0 0 0 0 0 0 0 0
76 80 72 85 91 107 108 170 187 222 244 282
Total Assets 88 91 90 100 106 135 138 227 240 285 311 371

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
15 10 14 16 11 29 33 -4 6 62 32 65
-4 -1 -11 -5 -5 -5 -10 -32 6 -62 -17 -22
-11 -9 -0 -10 -9 -10 -12 57 -14 -16 -21 -31
Net Cash Flow 0 0 3 2 -3 13 11 21 -2 -16 -7 12
Free Cash Flow 15 10 9 12 6 27 20 -26 -1 61 28 46
CFO/OP 132% 111% 86% 186% 86% 148% 168% 30% 35% 123% 84% 114%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 75 71 79 68 68 67 62 79 91 78 81 58
Inventory Days
Days Payable
Cash Conversion Cycle 75 71 79 68 68 67 62 79 91 78 81 58
Working Capital Days 14 26 24 20 33 9 13 47 52 88 102 54
ROCE % 14% 19% 15% 15% 24% 14% 12% 23% 10% 22% 16% 23%

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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Documents

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