MarketFriction

Onward Technologies Ltd

NSE ONWARDTEC · BSE 517536 · IT Enabled Services
₹291.30 +1.02%
NSE close2026-10-01
52 week range208.25 - 355.00
Market cap₹639 Cr.
P/E14.2
Price band 20% Delivery 74.8%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales120114118118123123127133139135137149
Expenses105103109106115112113116119115122131
Operating Profit15111012811141720201518
OPM %13%9%8%10%6%9%11%13%14%15%11%12%
Other Income133221321-222
Interest000111101111
Depreciation333333334445
Profit before tax131091068131616131215
Tax %25%31%26%27%37%29%17%20%25%23%21%24%
Net Profit1077746101312101011
EPS in Rs4.273.022.973.141.562.664.595.605.254.444.205.02
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales198224244261272240307441472491544560
Expenses184212233239248223286414420447472487
Operating Profit141111222317222752457273
OPM %7%5%4.6%9%9%7%7%6%11%9%13%13%
Other Income2351152157743
Interest433332121233
Depreciation44561110101313131617
Profit before tax878151010321845365756
Tax %61%38%11%33%35%25%26%36%25%25%22%
Net Profit3471067241134274443
EPS in Rs2.142.704.326.413.894.4910.755.1515.0611.9419.4818.91
Dividend Payout %47%37%23%23%39%67%28%58%33%42%41%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth11%18%7%11%
Compounded Profit Growth31%45%61%38%
Stock Price CAGR16%5%-20%-1%
Return on Equity15%15%17%20%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital151515161616162222232322
Reserves17212734455258141152185202231
Borrowings292325231835251917283240
Other Liabilities273122282733384550505474
Total Liabilities889190100106135138227240285311367
Fixed Assets121118161528305754636589
CWIP000000000120
Investments000000000000
Other Assets7680728591107108170187222244279
Total Assets889190100106135138227240285311367
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity15101416112933-46623265
Cash from Investing Activity-4-1-11-5-5-5-10-326-62-17-21
Cash from Financing Activity-11-9-0-10-9-10-1257-14-16-21-31
Net Cash Flow0032-3131121-2-16-713
Free Cash Flow151091262720-26-1612846
CFO/OP132%111%86%186%86%148%168%30%35%123%84%114%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days757179686867627991788181
Inventory Days
Days Payable
Cash Conversion Cycle757179686867627991788181
Working Capital Days142624203391347528810254
ROCE %14%19%15%15%24%14%12%23%10%22%16%23%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters44.96%38.15%38.12%38.02%37.94%37.86%38.66%39.02%39.02%39.09%39.07%39.97%
FIIs0.09%2.14%2.50%1.64%8.97%9.18%9.30%9.29%9.21%9.39%9.83%9.32%
DIIs0.84%6.15%7.65%7.58%7.38%6.38%3.86%3.73%4.00%2.90%3.54%1.80%
Public54.12%53.56%51.73%52.75%45.73%46.57%48.19%47.88%46.90%47.25%46.20%47.53%
Others0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.07%0.88%1.36%1.36%1.39%
No. of Shareholders14,27815,36516,93119,32721,42222,58222,72123,31022,26722,25420,82922,336

Fundamentals

Market Cap₹ 639 Cr.
Current Price₹ 287
Stock P/E14.2
Book Value₹ 111
ROCE22.9 %
ROE19.5 %
Dividend Yield2.78 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)11%
Compounded Profit Growth (TTM)38%
Consolidated figures.
Valuation
Market capRs 663 Cr
Enterprise valueRs 592 Cr
P/E (TTM)15.50x
Price to book2.61x
Price to sales1.18x
EV / EBITDA7.76x
EV / EBIT10.03x
EV / sales1.06x
Price to cash flow10.18x
Earnings yield6.45%
Dividend yield2.71%
P/E, 3-year average20.43x
P/B, 3-year average3.08x
P/E, 5-year average30.15x
P/B, 5-year average3.56x
Profitability
Operating margin (excl. other income)13.21%
Operating margin (incl. other income)13.92%
EBITDA margin13.61%
Pre-tax margin9.98%
Net profit margin7.63%
Net margin, latest quarter7.48%
ROE18.55%
ROCE21.80%
ROA13.07%
ROE, 3-year average16.30%
ROCE, 3-year average19.76%
ROA, 3-year average11.69%
ROE, 5-year average15.13%
ROCE, 5-year average18.64%
ROA, 5-year average10.60%
ROIC (approx.)25.12%
Tax rate22.30%
Other income / net worth1.53%
Growth
Sales growth (latest year)10.69%
Profit growth (latest year)63.66%
Sales CAGR, 3 years7.24%
Sales CAGR, 5 years17.74%
Profit CAGR, 3 years56.87%
Profit CAGR, 5 years43.28%
Sales growth QoQ8.98%
Profit growth QoQ16.96%
Sales growth YoY (latest quarter)12.23%
Profit growth YoY (latest quarter)-12.25%
Per share
EPS (TTM)Rs 18.79
EPS (latest year)Rs 19.48
EPS (latest quarter)Rs 4.91
EPS, 3-year averageRs 15.49
EPS, 5-year averageRs 12.48
Book value per shareRs 111.41
Sales per shareRs 246.17
Cash flow per shareRs 28.60
Free cash flow per shareRs 20.22
Dividend per share (latest year)Rs 7.89
Dividend per share, 3-year averageRs 5.96
Dividend per share, 5-year averageRs 4.78
Dividends
Dividend payout40.50%
Dividend payout, 3-year average38.52%
Dividend payout, 5-year average40.35%
Efficiency
Asset turnover1.48x
Fixed asset turnover6.12x
Debtor days81 days
Debtors turnover4.53x
Cash conversion cycle81 days
Working capital days54 days
Leverage
Total debtRs 40 Cr
Cash and bankRs 111 Cr
Net debtRs -71 Cr
Debt to equity0.16x
Net debt / EBITDA-0.93x
Interest coverage19.27x
Current ratio (filing 2026-03-31)3.66x
Quick ratio (filing 2026-03-31)3.66x
Trade payables (filing 2026-03-31)Rs 12 Cr
Owners' fund to total sources69.00%
Debt to assets10.84%
Cash flow
Cash from Operating Activity (latest year)Rs 65 Cr
Cash from Investing Activity (latest year)Rs -21 Cr
Cash from Financing Activity (latest year)Rs -31 Cr
Net Cash Flow (latest year)Rs 13 Cr
Free cash flow (latest year)Rs 46 Cr
FCFE (approx.: FCF + change in debt)Rs 54 Cr
Cash from ops / profit, 5 years1.15x
Sales to cash flow8.36x
Statement figures
Net sales (TTM)Rs 560 Cr
Net sales (latest year)Rs 544 Cr
Sales (latest quarter)Rs 149 Cr
Operating profit excl. other income (latest year)Rs 72 Cr
Operating profit (latest quarter)Rs 18 Cr
Other income (TTM)Rs 3 Cr
EBITDA (TTM)Rs 76 Cr
PBDT (TTM)Rs 73 Cr
Profit before tax (TTM)Rs 56 Cr
Tax (latest year)Rs 13 Cr
Net profit (TTM)Rs 43 Cr
Net profit (latest year)Rs 44 Cr
Net profit (latest quarter)Rs 11 Cr
Depreciation (TTM)Rs 17 Cr
Depreciation (latest quarter)Rs 5 Cr
Interest (TTM)Rs 3 Cr
Cost of goods sold (latest year)Rs 50 Cr
Total expenditure (latest year)Rs 472 Cr
Total income (latest year)Rs 548 Cr
Share capitalRs 22 Cr
ReservesRs 231 Cr
Shareholders' fundsRs 254 Cr
Total assetsRs 367 Cr
Net blockRs 89 Cr
Capital work in progressRs 0 Cr
ReceivablesRs 120 Cr
Other liabilitiesRs 74 Cr
Shares outstanding (crore)2.28
Ownership
Promoter holding39.97% (+0.95 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 15.5 is at the 16th percentile of its own 9.4-year range (median 26.7, low 8.6, high 123.9).
P/B 2.61 is at the 21th percentile (median 3.55).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodONWARDTECNifty 50Difference
1 week+1.4%-2.8% +4.2 pts
1 month+2.6%-6.8% +9.4 pts
3 months+3.6%-7.6% +11.2 pts
6 months+38.6%+0.4% +38.2 pts
1 year-1.0%-9.9% +9.0 pts
2 years-32.5%-13.6% -19.0 pts
3 years-47.4%+14.2% -61.6 pts
5 years+28.5%+27.9% +0.6 pts
2 mutual fund schemes hold about ₹9 Cr. Over three months 0 bought more and 2 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
ICICI Pru Technology Fund0.07%9 -10%
WOC Balanced Hybrid Fund0.03%0 -7%

Red flags

F-score 6 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹149 Cr +12.0% vs Jun 2025. Net profit ₹11 Cr -15.4%.
Against our estimate for Jun 2026: sales +3.0%, profit -5.2% in line. Our estimate for Sep 2026: sales Rs 153 Cr, profit Rs 11 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-07-03Dividend - Rs 8 Per Share
2026-05-18Buy Back
2025-07-04Dividend - Rs 5 Per Share
2024-07-12Annual General Meeting/Dividend - Rs 5 Per Share
2023-07-10Annual General Meeting/Dividend - Rs 3 Per Share
2022-07-08Annual General Meeting/Dividend - Rs 3 Per Share
2021-07-07 Annual General Meeting/Dividend - Rs 3 Per Share
2020-07-08 Annual General Meeting/Dividend - Rs 1.50 Per Sh
2019-07-17 Annual General Meeting/ Dividend - Rs 1.5 Per Share
2018-07-12 Annual General Meeting/Dividend- Re 1 Per Share
2017-07-13 Annual General Meeting/Dividend - Re 1 Per Share
2016-07-11 Annual General Meeting/ Dividend - Re 1/- Per Share
2015-07-24Annual General Meeting
2013-07-16Annual General Meeting
2012-07-23Annual General Meeting
2011-07-11Annual General Meeting
2010-07-12Annual General Meeting
2009-08-25Annual General Meeting
2008-07-25Annual General Meeting
2006-08-07Agm
DateTypeWhat it says
2026-09-28General UpdatesGeneral Updates
2026-09-23Concall / analyst meetSchedule of meet
2026-09-21Order winBagging/Receiving of orders/contracts
2026-09-17UpdatesAcquisition of 25,000 Equity Shares by JHM Enterprises Private Limited Promoter Groupof the Company from the Open Market.
2026-09-02Concall / analyst meetSchedule of meet
2026-08-21AllotmentAllotment of 6500 securities pursuant to ESOP/ESPS at its meeting held on August 21, 2026
2026-08-18UpdatesAcquisition of 30,127 Equity Shares by Mrs Prachi Mehta, Promoter of the Company fromthe Open Market.
2026-08-14UpdatesDisclosure under Regulation 30 of the SEBI (Listing Obligations and DisclosureRequirements) Regulations, 2015.
2026-07-22Concall / analyst meetTranscript
2026-07-16Concall / analyst meetLink of Recording
2026-07-16Shareholder meetingOnward Technologies Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on July 16, 2026
2026-07-16CessationCessation of Mr Jay Sonawala as Non- Executive Independent Director of the company w.e.f. July 20, 2026.
2026-07-16Shareholder meetingProceedings of Annual General Meeting held on July 16, 2026
2026-07-16Press ReleaseA press release dated July 16, 2026, titled "Q1 FY27".
2026-07-16UpdatesEarnings Presentation Q1 FY27.
2026-07-16Board meeting outcomeOnward Technologies Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-09Concall / analyst meetSchedule of meet
2026-06-25Order winBagging/Receiving of orders/contracts
2026-06-25Order winBagging/Receiving of orders/contracts
2026-06-22Disclosure under SEBI TakeovOnward Technologies Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (S...
2026-06-22UpdatesSubmission of Business Responsibility and Sustainability Report for Financial Year (FY)2025-26.
2026-06-22Record DateRecord date for the purpose of Dividend is 03-Jul-2026.
2026-06-22Shareholder meetingNotice of Annual General Meeting to be held on July 16, 2026
2026-06-19ESOPAllotment of 31000 Shares.
2026-06-15Closure of Buy BackClosure of Buy Back with effect from Jun 15, 2026
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Onward Technologies Ltd?

Onward Technologies Ltd (ONWARDTEC) has a market capitalisation of Rs 639 Cr. at the 2026-10-01 close.

What is the P/E ratio of Onward Technologies Ltd?

Onward Technologies Ltd trades at a P/E of 14.2 on trailing twelve-month profit, at the 2026-10-01 close.

What were Onward Technologies Ltd's latest quarterly results?

In the Jun 2026 quarter, Onward Technologies Ltd sales was Rs 149 Cr (+12.0% vs Jun 2025) and net profit was Rs 11 Cr.

What is the 52-week high and low of Onward Technologies Ltd?

The 52-week high is Rs 355.00 and the 52-week low is Rs 208.25.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03