Onward Technologies
- Market cap
- ₹ 959 Cr.
- P/E
- 19.6x
- P/B
- 4.07x
- 52-week range
- 208.25 – 495.65
- ROE
- 20%
- ROCE
- 23%
- Dividend yield
- 1.7%
- Debt / equity
- 0.16
- Sector
- IT - Services
- Industry
- IT Enabled Services
- Listed on
- NSE, BSE
About
Onward Technologies Limited is an India-based software outsourcing company specializing in digital, and engineering research and development (ER&D) services. The Company is focused on three verticals: transportation and mobility, industrial equipment and heavy machinery, and healthcare and medical technology (MedTech). Its service lines include digital services, mechanical engineering services, embedded and electronics engineering services, and information technology services. Its digital services include engineering automation, big data analytics, cloud and DevOps, artificial intelligence/machine learning, and digital with virtual reality/augmented reality. Its mechanical engineering services include new product design and development, and value engineering. Its embedded and electronics engineering services include platform services hardware, software and connectivity solutions. Its information technology services include enterprise applications, and data management and reporting.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
IT Enabled Services: 107 companies →Onward Technologies against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)19.6 against a typical 24.9: cheaper than most peers (1st = cheapest).45th of 106
- Sales growth+22.3% against a typical +20.8% from a year earlier.42nd of 85
- Profit growth+41.7% against a typical +5.6% from a year earlier.28th of 77
- Share price, 3 months+47.7% against a typical −11.2%.9th of 93
- Size₹ 959.3 Cr. market value against a typical ₹ 206.6 Cr. (1st = largest).29th of 100
Latest announcements
Exchange filings and their impact on the company.
- 26 Oct 2026Analysts/Institutional Investor Meet/Con. Call UpdatesHigh impactVery positiveRecord Q2 with 22% growth and all-time high margin drives raised 15-18% FY27 growth outlook.
Onward Technologies reported its highest ever quarterly revenue of Rs 170.2 crores in Q2 FY27, up 22.4% year-on-year, with EBITDA of Rs 26.6 crores at an all-time high margin of 15.6% and PAT up 41.2% to Rs 16.8 crores. It renewed a 3-year digital engineering deal worth about Rs 44.5 crores, up over 70%, and grew $1 million clients from 16 to 18. Based on strong execution and hiring of 430+ people, it raised FY27 guidance to 15-18% revenue growth with 13.8-14.3% EBITDA margin.
- Board approved unaudited Q2 and H1 FY27 results for period ended September 30, 2026.
Onward Technologies' board on October 16, 2026 approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. The meeting ran from 11:00 AM to 11:55 AM and the results with limited review report were submitted to BSE and NSE. Detailed P&L figures were not available in the extracted text, with recent run-rate at Q1 FY27 sales of Rs 149 crore and TTM sales of Rs 560 crore, indicating continued steady operations.
- Granted 38,000 ESOPs, implying only ~0.17% dilution and negligible profit impact.
Onward Technologies granted 38,000 employee stock options under its 2024 ESOP Scheme, as approved by the Nomination and Remuneration Committee on October 12, 2026. The grant represents only about 0.17% of outstanding shares. The impact is minimal, limited to small future dilution and ESOP costs while aiding employee retention.
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 16 Oct 2026 | Financial Results | To consider and approve the financial results for the period ended September 30, 2026 |
| 16 Jul 2026 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2026 |
| 12 May 2026 | Buyback | To consider buyback for equity shares |
| 5 May 2026 | Financial Results/Dividend | To consider and approve the financial results for the period ended March 31, 2026 and dividend |
| 16 Jan 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 17 Oct 2025 | Financial Results | To consider and approve the financial results for the period ended September 30, 2025 |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 114 | 118 | 118 | 123 | 123 | 127 | 133 | 139 | 135 | 137 | 149 | 170 |
| Expenses | 103 | 109 | 106 | 115 | 112 | 113 | 116 | 119 | 115 | 122 | 131 | 144 |
| Operating Profit | 11 | 10 | 12 | 8 | 11 | 14 | 17 | 20 | 20 | 15 | 18 | 27 |
| OPM % | 9% | 8% | 10% | 6% | 9% | 11% | 13% | 14% | 15% | 11% | 12% | 16% |
| Other Income | 3 | 3 | 2 | 2 | 1 | 3 | 2 | 1 | −2 | 2 | 2 | 1 |
| Interest | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 5 | 5 |
| Profit before tax | 10 | 9 | 10 | 6 | 8 | 13 | 16 | 16 | 13 | 12 | 15 | 22 |
| Tax % | 31% | 26% | 27% | 37% | 29% | 17% | 20% | 25% | 23% | 21% | 24% | 24% |
| Net Profit | 7 | 7 | 7 | 4 | 6 | 10 | 13 | 12 | 10 | 10 | 11 | 17 |
| EPS in Rs | 3.02 | 2.97 | 3.14 | 1.56 | 2.66 | 4.59 | 5.6 | 5.25 | 4.44 | 4.2 | 5.02 | 7.54 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 11%
- 5 Years
- 18%
- 3 Years
- 7%
- TTM
- 13%
- 10 Years
- 31%
- 5 Years
- 45%
- 3 Years
- 61%
- TTM
- 21%
- 10 Years
- 20%
- 5 Years
- 15%
- 3 Years
- −7%
- TTM
- —
- 10 Years
- 15%
- 5 Years
- 15%
- 3 Years
- 17%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Onward Technologies | ₹ 440.00 | ₹ 959 Cr. | 19.6x | 4.1x | 20% | — |
| Tata Consultancy Services | ₹ 2,528.00 | ₹ 9,14,653 Cr. | 15.7x | 7.7x | 48% | 18.2% |
| Infosys | ₹ 1,154.50 | ₹ 4,68,523 Cr. | 14.8x | 4.8x | 31.2% | 16.5% |
| HCL Technologies | ₹ 1,424.00 | ₹ 3,86,426 Cr. | 18.8x | 4.4x | — | 13% |
| Tech Mahindra | ₹ 1,789.40 | ₹ 1,75,385 Cr. | 27.9x | 5.2x | — | 8.7% |
| Billionbrains Garage Ventures | ₹ 181.65 | ₹ 1,13,960 Cr. | 61.3x | 13.3x | — | 46.5% |
Management
- Harish Shantilal Mehta
- Executive Chairman of the Board, Whole-time Director
- Pawan Nathani
- Chief Financial Officer
- Aakash Joshi
- Company Secretary and Compliance Officer
- Jigar Harish Mehta
- Managing Director
Prices are delayed and for information only. Nothing on this page is investment advice.