ONWARDTEC
Onward Technologies Limited
Onward Technologies Limited (ONWARDTEC) financial statements and selected valuation metrics through 30 September 2026.
Information Technology›Information Technology›IT - Services›IT Enabled Services
Key metrics
Price as of 2026-10-16
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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What you need to know
Onward Technologies provides outsourced engineering and R&D (research and development) services, covering mechanical engineering, embedded systems and digital engineering, to large industrial companies, with most clients headquartered in North America and Europe.
Company snapshot
31stBy market cap
Ranked among 56 companies in IT Enabled Services.
Segment mix
Reportable segments as of 2019-03-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.
Largest segment: 77.5% of revenue
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| Information Technology Services | 22.5% | 15 Cr | 0.53 Cr | 34 Cr |
| Mechanical Engineering Design Services | 77.5% | 51 Cr | 4 Cr | 72 Cr |
What we see
- ✓94% of operating profit came in as cash over the last three years — profits are backed by real cash.
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 114 Cr | 118 Cr | 118 Cr | 123 Cr | 123 Cr | 127 Cr | 133 Cr | 139 Cr | 135 Cr | 137 Cr | 149 Cr | 170 Cr |
| Operating expenses (approx.) | 105 Cr | 109 Cr | 106 Cr | 115 Cr | 112 Cr | 113 Cr | 116 Cr | 119 Cr | 115 Cr | 122 Cr | 131 Cr | 144 Cr |
| EBITDA | 9 Cr | 10 Cr | 12 Cr | 8 Cr | 11 Cr | 14 Cr | 17 Cr | 20 Cr | 20 Cr | 15 Cr | 18 Cr | 27 Cr |
| OPM % | 8.2% | 8.2% | 9.9% | 6.5% | 9.1% | 10.9% | 12.9% | 14.3% | 14.5% | 11.2% | 12.3% | 15.6% |
| Other income | 4 Cr | 3 Cr | 2 Cr | 2 Cr | 1 Cr | 3 Cr | 2 Cr | 1 Cr | 2 Cr | 2 Cr | 2 Cr | 1 Cr |
| Interest | 0.31 Cr | 0.34 Cr | 0.51 Cr | 0.59 Cr | 0.59 Cr | 0.53 Cr | 0.50 Cr | 0.96 Cr | 0.71 Cr | 0.71 Cr | 0.68 Cr | 0.69 Cr |
| Depreciation | 3 Cr | 3 Cr | 3 Cr | 3 Cr | 3 Cr | 3 Cr | 3 Cr | 4 Cr | 4 Cr | 4 Cr | 5 Cr | 5 Cr |
| Profit before tax | 10 Cr | 9 Cr | 10 Cr | 6 Cr | 8 Cr | 13 Cr | 16 Cr | 16 Cr | 13 Cr | 12 Cr | 15 Cr | 22 Cr |
| Tax % | 31.0% | 25.8% | 26.8% | 36.8% | 28.6% | 17.2% | 20.0% | 24.6% | 23.1% | 21.4% | 24.4% | 24.2% |
| Net profit | 7 Cr | 7 Cr | 7 Cr | 4 Cr | 6 Cr | 10 Cr | 13 Cr | 12 Cr | 10 Cr | 10 Cr | 11 Cr | 17 Cr |
| EPS (₹) | ₹3.02 | ₹2.97 | ₹3.14 | ₹1.57 | ₹2.66 | ₹4.59 | ₹5.61 | ₹5.26 | ₹4.50 | ₹4.26 | ₹5.00 | ₹7.65 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 224 Cr | 244 Cr | 259 Cr | 272 Cr | 240 Cr | 307 Cr | 441 Cr | 472 Cr | 491 Cr | 544 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 212 Cr | 233 Cr | 239 Cr | 248 Cr | 223 Cr | 286 Cr | 414 Cr | 420 Cr | 447 Cr | 472 Cr | Sign in free for the trailing twelve months |
| EBITDA | 11 Cr | 11 Cr | 21 Cr | 23 Cr | 17 Cr | 21 Cr | 27 Cr | 52 Cr | 45 Cr | 72 Cr | Sign in free for the trailing twelve months |
| OPM % | 5.0% | 4.6% | 8.1% | 8.6% | 7.2% | 7.0% | 6.2% | 11.1% | 9.1% | 13.2% | Sign in free for the trailing twelve months |
| Other income | 3 Cr | 5 Cr | 3 Cr | 1 Cr | 5 Cr | 22 Cr | 5 Cr | 7 Cr | 7 Cr | 7 Cr | Sign in free for the trailing twelve months |
| Interest | 3 Cr | 3 Cr | 3 Cr | 3 Cr | 2 Cr | 1 Cr | 2 Cr | 1 Cr | 2 Cr | 3 Cr | Sign in free for the trailing twelve months |
| Depreciation | 4 Cr | 5 Cr | 6 Cr | 11 Cr | 10 Cr | 10 Cr | 13 Cr | 13 Cr | 13 Cr | 16 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 7 Cr | 8 Cr | 15 Cr | 10 Cr | 10 Cr | 32 Cr | 18 Cr | 45 Cr | 36 Cr | 57 Cr | Sign in free for the trailing twelve months |
| Tax % | 37.8% | 10.6% | 33.3% | 35.3% | 25.2% | 25.6% | 36.3% | 24.9% | 25.4% | 22.3% | Sign in free for the trailing twelve months |
| Net profit | 4 Cr | 7 Cr | 10 Cr | 6 Cr | 7 Cr | 24 Cr | 11 Cr | 34 Cr | 27 Cr | 44 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹2.72 | ₹4.35 | ₹6.45 | ₹3.90 | ₹4.52 | ₹12.62 | ₹5.18 | ₹15.13 | ₹11.97 | ₹19.64 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 33.1% | 22.2% | 57.3% | 19.7% | 41.3% | 25.6% | Sign in free for the trailing twelve months |
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 15 Cr | 16 Cr | 16 Cr | 16 Cr | 16 Cr | 22 Cr | 22 Cr | 23 Cr | 23 Cr | 22 Cr |
| Reserves | 27 Cr | 34 Cr | 45 Cr | 52 Cr | 58 Cr | 141 Cr | 152 Cr | 185 Cr | 202 Cr | 231 Cr |
| Borrowings | 20 Cr | 19 Cr | 16 Cr | 18 Cr | 15 Cr | 0.60 Cr | 0.51 Cr | — | — | — |
| Other liabilities | 28 Cr | 31 Cr | 30 Cr | 50 Cr | 48 Cr | 66 Cr | 68 Cr | 80 Cr | 89 Cr | 117 Cr |
| Total liabilities | 90 Cr | 101 Cr | 107 Cr | 136 Cr | 138 Cr | 229 Cr | 242 Cr | 287 Cr | 314 Cr | 371 Cr |
| Fixed assets (net) | 11 Cr | 9 Cr | 10 Cr | 8 Cr | 17 Cr | 37 Cr | 36 Cr | 60 Cr | 63 Cr | 85 Cr |
| CWIP | — | — | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0.64 Cr | 0.29 Cr | 0.02 Cr |
| Investments | — | — | 0 Cr | 0 Cr | 0.10 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr |
| Trade receivables | 49 Cr | 46 Cr | 49 Cr | 50 Cr | 41 Cr | 67 Cr | 110 Cr | 101 Cr | 109 Cr | 120 Cr |
| Cash & bank | 3 Cr | 8 Cr | 4 Cr | 18 Cr | 28 Cr | 50 Cr | 47 Cr | 31 Cr | 24 Cr | 37 Cr |
| Other assets | 28 Cr | 39 Cr | 44 Cr | 61 Cr | 51 Cr | 77 Cr | 50 Cr | 94 Cr | 117 Cr | 129 Cr |
| Total assets | 90 Cr | 101 Cr | 107 Cr | 136 Cr | 138 Cr | 229 Cr | 242 Cr | 287 Cr | 314 Cr | 371 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 14 Cr | 16 Cr | 11 Cr | 29 Cr | 33 Cr | -4 Cr | 6 Cr | 62 Cr | 32 Cr | 65 Cr |
| Cash from investing | -11 Cr | -5 Cr | -5 Cr | -6 Cr | -10 Cr | -32 Cr | 6 Cr | -62 Cr | -17 Cr | -22 Cr |
| Cash from financing | -0.26 Cr | -10 Cr | -9 Cr | -10 Cr | -12 Cr | 57 Cr | -14 Cr | -16 Cr | -21 Cr | -31 Cr |
| Net cash flow | 3 Cr | 2 Cr | -3 Cr | 13 Cr | 11 Cr | 21 Cr | -2 Cr | -16 Cr | -7 Cr | 13 Cr |
| Free cash flow (OCF − Capex) | 4 Cr | 11 Cr | 6 Cr | 26 Cr | 20 Cr | -26 Cr | -1 Cr | 60 Cr | 28 Cr | 46 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 15.1% | 15.2% | 23.3% | 15.2% | 13.5% | 20.0% | 11.3% | 22.4% | 17.2% | 23.6% |
| ROE % | 9.7% | 13.5% | 16.6% | 9.2% | 9.9% | 14.5% | 6.6% | 16.4% | 12.1% | 17.5% |
| Debtor days | 79 | 68 | 69 | 67 | 62 | 79 | 91 | 78 | 81 | 80 |
| Inventory days | — | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days payable | 5 | 12 | 9 | 6243 | 11 | 392283 | 9 | 10 | 7 | 8 |
| Cash conversion cycle | 74 | 56 | 60 | -6176 | 51 | -392204 | 81 | 68 | 74 | 72 |
| OCF / EBITDA % | 128.3% | 145.8% | 50.6% | 123.1% | 191.1% | -18.4% | 21.1% | 119.4% | 70.5% | 90.6% |
| OCF / EBITDA % (3 years) | — | — | 95.4% | 100.4% | 117.5% | 93.2% | 52.8% | 63.6% | 80.2% | 94.2% |
| Debt / equity | 0.47 | 0.39 | 0.26 | 0.27 | 0.20 | 0.0037 | 0.0029 | — | 0.00 | — |
| Current ratio | 1.45 | 1.45 | 1.60 | 1.53 | 1.73 | 3.07 | 3.01 | 3.76 | 3.87 | 3.66 |
| Net debt / EBITDA | 1.47 | — | 0.56 | 0.01 | -0.77 | -2.28 | -1.71 | -0.60 | -0.54 | -0.51 |