Onward Technologies Limited ONWARDTEC NSETECH

Technology · Information Technology Services · India

https://www.onwardgroup.com

Onward Technologies Limited operates as a software and technology services outsourcing company. The company offers digital and engineering research and development services for original equipment manufacturers (OEMs) in industrial equipment and heavy machinery, transportation, mobility, and healthcare and life sciences sectors. It also provides digital services, such as advanced software development and lifecycle management, digitalization and integration, data engineering, analytics and visualization, cloud platforms, and DevOps and shift left testing services; and embedded product and systems engineering services comprising system, software and hardware, tooling, testing, and consulting services. In addition, the company offers mechanical product engineering services, including new product design and development, value engineering, virtual simulation, and manufacturing engineering. It operates in India, the United States, Europe, Canada, and the United Kingdom. Onward Technologies Limited was incorporated in 1991 and is based in Mumbai, India.

Market & Price

Market Cap

₹594.66 Cr

Current Price

₹264.87

High / Low (52W)

₹379.95 / ₹210.15

Beta

0.78

Valuation

Stock P/E

13.57

Industry PE

25.13

Forward P/E

PEG Ratio

Book Value

₹113.06

Price to Book

2.34

P/S

1.09

EV/EBITDA

7.28

Dividend Yield

1.86%

Profitability & Returns

ROCE

20.06%

ROE

18.55%

ROA

10.24%

Profit Margin

8.15%

Op Margin

7.98%

EPS (Latest Qtr)

₹4.23

EPS (TTM)

₹19.52

Balance Sheet & Liquidity

Debt/Equity

0.16

Quick Ratio

3.22

Current Ratio

3.66

Debt

₹39.84 Cr

Total Assets

₹370.57 Cr

Current Assets

₹263.02 Cr

Working Capital

₹191.22 Cr

Ownership

Promoter Holding

59.65%

Chg in Prom Hold

FII / Inst Holding

2.34%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹522.79 Cr

Total Revenue (TTM)

₹543.85 Cr

EBITDA

₹71.85 Cr

Free Cash Flow

₹20.84 Cr

Operating Cash Flow

₹65.08 Cr

Shares Outstanding

₹2.25 Cr

Gross Margin

27.22%

Payout Ratio

25.61%

Growth (CAGR)

Revenue 5Y

7.24%

Profit 5Y

56.88%

Revenue (YoY)

7.70%

Earnings (YoY)

-7.20%

PROS

Healthy ROCE of 20.1%.
Profit CAGR of 56.9% over 5 years.
Generates positive free cash flow.

CONS

Trading 30.3% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	ONWARDTEC Onward Technologies Limited NSETECH	264.87	13.57	₹594.66 Cr	1.86%	20.06%	18.55%	7.24%	56.88%
2	TCS Tata Consultancy Services Limited NIFTY50NSEAITECH	2,258.90	16.61	₹8.17 L Cr	5.49%	54.93%	48.40%	5.80%	5.30%
3	INFY Infosys Limited NIFTY50NSEAITECH	1,160.90	15.01	₹4.70 L Cr	4.31%	41.66%	31.44%	3.44%	3.58%
4	HCLTECH HCL Technologies Limited NIFTY50NSEAITECH	1,183.80	19.31	₹3.20 L Cr	8.11%	27.21%	23.36%	8.65%	3.87%
5	WIPRO Wipro Limited NIFTY50NSEAITECH	204.25	16.26	₹2.14 L Cr	8.32%	18.42%	15.49%	4.05%	2.44%
6	TECHM Tech Mahindra Limited NIFTY50NSEAITECH	1,483.90	27.40	₹1.31 L Cr	3.44%	20.60%	16.61%	2.16%	-0.14%
7	LTM LTM Limited NSETECH	4,061.60	24.04	₹1.20 L Cr	1.85%	25.39%	21.29%	8.43%	4.41%
8	LGEINDIA LG ELECTRONICS INDIA LTD NIFTY_MIDNSETECH	1,523.90	61.35	₹1.03 L Cr	-	27.64%	24.72%	0.98%	-
9	WAAREEENER WAAREE ENERGIES LIMITED NIFTY_MIDNSETECH	3,140.80	27.70	₹90,345.53 Cr	0.13%	24.21%	31.57%	71.63%	191.18%

Quarterly Results

Figures in INR.

Metric	Dec 2024	Mar 2025	Jun 2025	Dec 2025	Mar 2026
Revenue	123.39 Cr	127.29 Cr	133.15 Cr	134.62 Cr	137.12 Cr
Cost of Revenue	94.91 Cr	98.01 Cr	98.13 Cr	97.99 Cr	102.02 Cr
Gross Profit	28.48 Cr	29.27 Cr	35.02 Cr	36.62 Cr	35.09 Cr
Operating Expenses	20.57 Cr	18.87 Cr	21.06 Cr	21.14 Cr	24.15 Cr
Operating Income	7.91 Cr	10.41 Cr	13.96 Cr	15.48 Cr	10.94 Cr
EBITDA	12.34 Cr	16.54 Cr	19.61 Cr	17.89 Cr	17.23 Cr
Interest Expense	58.83 L	53.32 L	50.24 L	71.11 L	71.33 L
Pretax Income	8.45 Cr	12.57 Cr	15.92 Cr	13.14 Cr	12.15 Cr
Tax Provision	2.41 Cr	2.16 Cr	3.19 Cr	3.04 Cr	2.60 Cr
Net Income	6.04 Cr	10.41 Cr	12.73 Cr	10.10 Cr	9.55 Cr
Diluted EPS	2.63	4.56	5.57	4.47	4.23

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	-	440.93 Cr	472.39 Cr	491.32 Cr	543.85 Cr
Cost of Revenue	-	340.00 Cr	346.53 Cr	380.12 Cr	395.82 Cr
Gross Profit	-	100.93 Cr	125.86 Cr	111.20 Cr	148.03 Cr
Operating Expenses	-	83.99 Cr	86.57 Cr	79.89 Cr	91.98 Cr
Operating Income	-	16.94 Cr	39.29 Cr	31.31 Cr	56.05 Cr
EBITDA	-	32.68 Cr	59.47 Cr	51.91 Cr	75.73 Cr
Interest Expense	-	1.66 Cr	1.34 Cr	2.22 Cr	2.89 Cr
Pretax Income	-	18.03 Cr	45.16 Cr	36.30 Cr	57.05 Cr
Tax Provision	-	6.55 Cr	11.24 Cr	9.22 Cr	12.72 Cr
Net Income	-	11.48 Cr	33.92 Cr	27.08 Cr	44.32 Cr
Diluted EPS	12.17	5.05	14.81	11.81	-

Compounded Sales Growth

5 Years:	7.24%
1 Year:	7.70%

Compounded Profit Growth

5 Years:	56.88%
1 Year:	-7.20%

Stock Price Performance

1 Year:	-9.49%
6 Months:	-3.47%
3 Months:	-9.68%
1 Month:	+11.82%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	242.25 Cr	286.94 Cr	313.76 Cr	370.57 Cr
Current Assets	-	165.92 Cr	197.86 Cr	218.68 Cr	263.02 Cr
Cash & Equivalents	-	47.27 Cr	31.20 Cr	24.34 Cr	36.86 Cr
Inventory	-	-	-	-	-
Receivables	-	91.23 Cr	73.58 Cr	79.12 Cr	85.70 Cr
Total Liabilities	-	68.38 Cr	79.81 Cr	89.45 Cr	117.06 Cr
Current Liabilities	-	55.17 Cr	52.63 Cr	56.48 Cr	71.80 Cr
Long Term Debt	50.39 L	40.28 L	0	-	-
Total Debt	-	16.73 Cr	28.27 Cr	32.16 Cr	39.84 Cr
Total Equity	-	173.87 Cr	207.13 Cr	224.30 Cr	253.51 Cr
Shares Outstanding	-	2.23 Cr	2.25 Cr	2.27 Cr	2.28 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	5.75 Cr	62.35 Cr	31.52 Cr	65.08 Cr
Investing Cash Flow	-	6.01 Cr	-62.34 Cr	-17.18 Cr	-21.58 Cr
Financing Cash Flow	-	-14.21 Cr	-16.17 Cr	-21.22 Cr	-31.32 Cr
Capital Expenditure	-	-7.20 Cr	-2.02 Cr	-3.67 Cr	-19.11 Cr
Free Cash Flow	-	-1.45 Cr	60.33 Cr	27.85 Cr	45.97 Cr
Net Change in Cash	-	-2.46 Cr	-16.16 Cr	-6.87 Cr	12.17 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	-	22.9%	26.6%	22.6%	27.2%
Operating Margin %	-	3.8%	8.3%	6.4%	10.3%
Net Margin %	-	2.6%	7.2%	5.5%	8.1%
ROE %	-	6.6%	16.4%	12.1%	17.5%
ROCE %	-	9.1%	16.8%	12.2%	18.8%

Shareholding Pattern

Insiders

59.65%

Institutions

2.34%

Public Float

5.81%

Analyst View

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ONWARDTEC · Technology