Onward Technologies
Onward Technologies
Information TechnologyKey Fundamentals
MicrocapIT Enabled ServicesInformation TechnologyTapetide Score
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Key Insights
Strengths
4- 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%
- Promoter holding has increased by 0.90% over last quarter.
- Company's working capital requirements have reduced from 81.3 days to 53.9 days
Weaknesses
1- Promoter holding has decreased over last 3 years: -5.10%
Growth Rate
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 120 | 120 | 114 | 118 | 118 | 123 | 123 | 127 | 133 | 139 | 135 | 137 | 149 |
| Expenses | 103 | 105 | 103 | 109 | 106 | 115 | 112 | 113 | 116 | 119 | 115 | 122 | 131 |
| Operating Profit | 17 | 15 | 11 | 10 | 12 | 8 | 11 | 14 | 17 | 20 | 20 | 15 | 18 |
| OPM % | 14% | 13% | 9% | 8% | 10% | 6% | 9% | 11% | 13% | 14% | 15% | 11% | 12% |
| Other Income | 0 | 1 | 3 | 3 | 2 | 2 | 1 | 3 | 2 | 1 | -2 | 2 | 2 |
| Interest | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 |
| Depreciation | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 5 |
| PBT | 14 | 13 | 10 | 9 | 10 | 6 | 8 | 13 | 16 | 16 | 13 | 12 | 15 |
| Tax % | 19% | 25% | 31% | 26% | 27% | 37% | 29% | 17% | 20% | 25% | 23% | 21% | 24% |
| Net Profit | 11 | 10 | 7 | 7 | 7 | 4 | 6 | 10 | 13 | 12 | 10 | 10 | 11 |
| EPS in Rs | 4.86 | 4.27 | 3.02 | 2.97 | 3.14 | 1.56 | 2.66 | 4.59 | 5.6 | 5.25 | 4.44 | 4.2 | 5.02 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 189 | 198 | 224 | 244 | 261 | 272 | 240 | 307 | 441 | 472 | 491 | 544 | 560 |
| Expenses | 177 | 184 | 212 | 233 | 239 | 248 | 223 | 286 | 414 | 420 | 447 | 472 | 487 |
| Operating Profit | 13 | 14 | 11 | 11 | 22 | 23 | 17 | 22 | 27 | 52 | 45 | 72 | 73 |
| OPM % | 7% | 7% | 5% | 4.6% | 9% | 9% | 7% | 7% | 6% | 11% | 9% | 13% | 13% |
| Other Income | 1 | 2 | 3 | 5 | 1 | 1 | 5 | 21 | 5 | 7 | 7 | 4 | 3 |
| Interest | 3 | 4 | 3 | 3 | 3 | 3 | 2 | 1 | 2 | 1 | 2 | 3 | 3 |
| Depreciation | 5 | 4 | 4 | 5 | 6 | 11 | 10 | 10 | 13 | 13 | 13 | 16 | 17 |
| PBT | 5 | 8 | 7 | 8 | 15 | 10 | 10 | 32 | 18 | 45 | 36 | 57 | 56 |
| Tax % | 37% | 61% | 38% | 11% | 33% | 35% | 25% | 26% | 36% | 25% | 25% | 22% | — |
| Net Profit | 3 | 3 | 4 | 7 | 10 | 6 | 7 | 24 | 11 | 34 | 27 | 44 | 43 |
| EPS in Rs | 2 | 2.14 | 2.7 | 4.32 | 6.41 | 3.89 | 4.49 | 10.75 | 5.15 | 15.06 | 11.94 | 19.48 | 18.91 |
| Div. Payout % | 0% | 47% | 37% | 23% | 23% | 39% | 67% | 28% | 58% | 33% | 42% | 41% | — |
Balance Sheet
| Particulars | 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 |
| Borrowings | 29 | 23 | 25 | 23 | 18 | 35 | 25 | 19 | 17 | 28 | 32 | 40 |
| Other Liabilities | 27 | 31 | 22 | 28 | 27 | 33 | 38 | 45 | 50 | 50 | 54 | 74 |
| Total Liabilities | 88 | 91 | 90 | 100 | 106 | 135 | 138 | 227 | 240 | 285 | 311 | 367 |
| Fixed Assets | 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 |
| Other Assets | 76 | 80 | 72 | 85 | 91 | 107 | 108 | 170 | 187 | 222 | 244 | 279 |
| Total Assets | 88 | 91 | 90 | 100 | 106 | 135 | 138 | 227 | 240 | 285 | 311 | 367 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 15 | 10 | 14 | 16 | 11 | 29 | 33 | -4 | 6 | 62 | 32 | 65 |
| Investing | -4 | -1 | -11 | -5 | -5 | -5 | -10 | -32 | 6 | -62 | -17 | -21 |
| Financing | -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 | 13 |
| 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
| Particulars | 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 | 81 |
| Cash Conversion Cycle | 75 | 71 | 79 | 68 | 68 | 67 | 62 | 79 | 91 | 78 | 81 | 81 |
| 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
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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65 extracted metrics + investor summaries across FY11–FY27.
Documents
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Company Information
Incorporated in 1991, Onward Technologies is a software outsourcing company specializing in Digital and ER&D services.[1]
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