Is Onward Technologies Ltd (ONWARDTEC) a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Onward Technologies Ltd is a average quality company .

Is Onward Technologies Ltd (ONWARDTEC) undervalued or overvalued?

The key valuation ratios of Onward Technologies Ltd's currently when compared to its past seem to suggest it is in the Fair zone .

What is Onward Technologies Ltd (ONWARDTEC) share price return in the past 10 years?

Onward Technologies Ltd share price has appreciated 12.9% annually (CAGR) over the past ten years.

Is Onward Technologies Ltd (ONWARDTEC) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Onward Technologies Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

What is the share price of Onward Technologies Ltd (ONWARDTEC)?

Company share prices are keep on changing according to the market conditions. The current trading price of Onward Technologies Ltd (ONWARDTEC) on 13-Apr-2026 16:59:59 at 16:59 is 252.40.

What is the market cap of Onward Technologies Ltd (ONWARDTEC)?

Market capitalization is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 13-Apr-2026 at 16:59, the market cap of Onward Technologies stood at Rs. 574.31 Cr.

What is the P/E ratio of Onward Technologies?

The latest standalone P/E ratio of Onward Technologies as of 13-Apr-2026 is 18.84.

What is the P/B ratio of Onward Technologies Ltd (ONWARDTEC)?

The latest standalone P/B ratio of Onward Technologies Ltd (ONWARDTEC) as of 13-Apr-2026 is 2.75.

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

The 52-week high of Onward Technologies Ltd (ONWARDTEC) is Rs. 382.00 and the 52-week low is Rs. 207.65.

What is the TTM revenue of Onward Technologies Ltd (ONWARDTEC)?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Onward Technologies is Rs. 412.72 (Cr.).

Onward Technologies Ltd (ONWARDTEC) Share Analysis – Quality, Growth & Valuation Zone & DeciZen Rating

Name: Onward Technologies Ltd (ONWARDTEC)
Brand: Onward Technologies

10 Year X-Ray :

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	13.4%	11.6%	8.1%	20.4%	14.8%	26.3%	12.6%	15.1%	22.2%	18.3%	-
Value Creation Index ⓘ	0.0	-0.2	-0.4	0.5	0.1	0.9	-0.1	0.1	0.6	0.3	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	89.4	93	107	118	181	173	234	315	346	381	413
Sales YoY Gr.	-	4.1%	14.6%	10.9%	52.8%	-4.4%	35.8%	34.5%	9.8%	10.2%	-
Adj EPS ⓘ	0.8	1.6	0.9	6.3	4.3	7.5	4.2	7.4	12	10.5	13.4
YoY Gr.	-	101.2%	-44.8%	604.4%	-31.6%	73.3%	-44.8%	77.1%	63.1%	-12.7%	-
BVPS (₹) ⓘ	28.4	30.3	31.2	36.6	36.3	43.5	66	70.5	80.1	87	91.9
Adj Net Profit ⓘ	1.2	2.5	1.4	10	7	12.3	9.1	16.4	27	23.8	30
Cash Flow from Ops. ⓘ	-1.4	9.9	6.6	7.4	29.7	26.7	4.1	3.9	67	34.4	-
Debt/CF from Ops. ⓘ	-13.5	1.7	2.8	2.4	0.2	0	0.2	0.1	0	0	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	17.5%	16.1%	17.6%	10.2%
Adj EPS ⓘ	32.9%	19.3%	36.1%	-12.7%
BVPSⓘ	13.2%	19.1%	9.6%	8.5%
Share Price	12.9%	17%	-8.8%	9.2%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	2.8	5.4	2.8	17.7	11.4	18.2	8.2	10.6	15.5	12.2	15
Op. Profit Mgn % ⓘ	11.4	5	3.4	13.5	9.3	11.4	7.6	9.1	11.9	10	12.8
Net Profit Mgn % ⓘ	1.4	2.7	1.3	8.5	3.9	7.1	3.9	5.2	7.8	6.2	7.4
Debt to Equity ⓘ	0.4	0.4	0.4	0.3	0.1	0	0	0	0	0	-
Working Cap Days ⓘ	186	173	127	133	118	142	124	124	152	176	81
Cash Conv. Cycle ⓘ	-4	13	30	39	39	43	42	62	64	54	54

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 15.00%

Sales growth is growing at healthy rate in last 3 years 17.59%

Net Profit is growing at healthy rate in last 3 years 36.13%

Sales growth is good in last 4 quarters at 11.34%

No data to display

	Standalone	Consolidated
TTM EPS (₹)	13.4	19.9
TTM Sales (₹ Cr.)	413	534
BVPS (₹) ⓘ	91.9	106.6
Reserves (₹ Cr.) ⓘ	186	220
P/BV ⓘ	2.75	2.37
PE ⓘ	18.84	12.71

From the Market
52 Week Low / High (₹)	207.65 / 382.00
All Time Low / High (₹)	9.35 / 738.95
Market Cap (₹ Cr.)	574
Equity (₹ Cr.)	22.8
Face Value (₹)	10
Industry PE ⓘ	22.7

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	89	93	107	118	181	173	234	315	346	381
Operating Expenses > ⓘ +	79	88	103	103	166	153	217	287	305	343
Manufacturing Costs	2	2	2	2	4	2	3	5	4	4
Material Costs	0	0	0	0	0	0	0	0	0	0
Employee Cost	57	63	76	75	132	122	176	241	258	286
Other Costs > ⓘ	20	23	25	25	30	29	37	41	43	53
Operating Profit > ⓘ	10	5	4	15	15	20	18	28	41	38
Operating Profit Margin (%)	11.1%	5.0%	3.3%	12.7%	8.0%	11.4%	7.5%	9.0%	11.9%	10.0%
Other Income > ⓘ +	1	7	7	5	7	8	6	8	10	11
Exceptional Items > ⓘ	0	0	0	0	0	0	0	0	0	0
Interest > ⓘ	2	2	2	2	3	2	1	2	1	3
Depreciation > ⓘ	3	4	5	5	10	9	9	13	13	14
Profit Before Tax > ⓘ	6	5	3	13	8	17	13	22	37	33
Tax > ⓘ	5	2	1	4	2	4	4	5	10	9
Profit After Tax	1	3	2	9	5	13	9	16	28	24
PAT Margin (%)	1.2%	3.2%	2.1%	7.9%	3.0%	7.3%	4.0%	5.2%	8.0%	6.4%
Adjusted EPS (₹)	0.7	2.0	1.4	5.9	3.4	7.8	4.2	7.3	12.3	10.8
Dividend Payout Ratio (%)	138%	51%	71%	25%	44%	39%	71%	41%	41%	47%

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	42	46	49	58	58	71	145	157	180	197
Share Capital ⓘ	15	15	16	16	16	16	22	22	23	23
Reserves ⓘ	28	31	33	42	42	55	123	135	158	175
Debt +	15	12	16	16	7	1	1	0	0	0
Long Term Debt	4	4	1	0	0	1	1	0	0	0
Short Term Debt	11	8	15	16	7	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	10	8	6	5	10	8	10	11	16	19
Others Liabilities ⓘ	25	25	22	23	44	39	59	52	72	81
Total Liabilities ⓘ	92	92	93	102	119	119	215	221	268	298
Fixed Assets
Net Fixed Assets ⓘ +	10	14	13	13	26	29	38	35	44	44
Gross Block	26	18	21	26	44	50	62	61	67	69
Accumulated Depreciation	16	4	8	13	18	21	24	26	23	24
CWIP ⓘ	0	0	0	0	0	0	0	0	1	2
Investments ⓘ	28	39	39	39	12	12	32	33	33	33
Inventories	0	0	0	0	0	0	0	0	0	0
Trade Receivables	13	17	19	22	34	28	46	85	71	84
Cash Equivalents	1	2	2	2	12	13	50	34	22	19
Others Assets ⓘ	39	19	19	26	35	36	48	35	98	115
Total Assets ⓘ	92	92	93	102	119	119	215	221	268	298

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	-1	10	7	7	30	27	4	4	67	34
PBT ⓘ	6	5	3	13	8	17	13	22	37	33
Adjustment ⓘ	6	5	8	7	13	10	11	14	13	12
Changes in Working Capital ⓘ	-8	-5	-1	-8	14	-4	-10	-29	18	-5
Tax Paid ⓘ	-5	4	-3	-4	-6	5	-9	-3	-1	-6
Cash Flow From Investing Activity ⓘ +	-2	-4	-5	-3	-3	-8	-34	5	-62	-15
Capex	-3	-7	-5	-5	-2	-13	-5	-7	-2	-4
Net Investments	0	-9	0	-0	-4	3	-9	11	-61	-16
Others ⓘ	1	12	-0	2	3	3	-20	1	0	5
Cash Flow From Financing Activity ⓘ +	3	-1	-8	-4	-22	-15	57	-15	-17	-22
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	68	0	0	0
Net Proceeds from Borrowing ⓘ	4	2	-4	-5	-11	-6	-0	-0	-0	0
Interest Paid ⓘ	-2	-2	-2	-2	-3	-2	-1	-0	-0	0
Dividend Paid ⓘ	0	-1	-2	-2	-2	-2	-5	-7	-7	-11
Others ⓘ	1	-0	-0	4	-5	-4	-5	-9	-10	-11
Net Cash Flow ⓘ	0	5	-6	0	5	4	28	-6	-12	-3

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	2.57	6.72	4.66	17.57	9.34	19.61	8.62	10.77	16.42	12.91
ROCE (%)	13.41	11.56	8.11	20.43	14.77	26.33	12.58	15.06	22.15	18.33
Asset Turnover Ratio	1.05	1.01	1.16	1.22	1.64	1.46	1.41	1.44	1.41	1.35
PAT to CFO Conversion(x)	-1	3.33	3.5	0.78	6	2.08	0.44	0.25	2.39	1.42
Working Capital Days
Receivable Days	50	58	61	63	56	66	58	76	82	74
Inventory Days	0	0	0	0	0	0	0	0	0	0
Payable Days	0	0	0	0	0	0	0	0	0	0

About Onward Technologies Ltd

Onward Technologies Ltd was incorporated as a Private Limited Company on July 18,1991 in the state of Maharashtra.

Onward Technologies Ltd. (OTL) is an ISO 9001-2000 certified company serving customers in the areas of Engineering Design Services, IT Services and IT driven Banking Products & Financial Services.

The company is headquartered in India with offices globally in USA, UK, Germany and Japan. Development centres are located at Mumbai and Pune, in India - the outsourcing capital of the world. Through these development centres, the company is well positioned to offer customers the established benefits of off-shore outsourcing.

Onward employs over 800 people with over 4000 man-years of experience, in mechanical engineering design analysis, testing & simulation, Bespoke Software Application Development, Support & Maintenance and Software Product Development.

Onward's global clients include fortune 1000 companies in the IT Consultancy, Automotive, Agricultural, Heavy Engineering, Electrical Equipments and Aerospace Industry.

In India, Onward is one of the fastest growing Independent Engineering Design Services Company. Onward is one of the largest ISVs for banking software solutions with more than 3000 client-site installations. Onward plans to leverage it's deep domain and technology expertise in the engineering, IT & BFS sector in the International Market.

The company's stocks are publicly traded at the Bombay Stock Exchange, the premier stock exchange in India.

Services offered by the company:

Engineering Design Services- Onward Technologies Ltd. is one of the fastest growing engineering design service providers - it is a service partner to the manufacturing industry, with a range of engineering services. It is supporting manufacturing companies in engineering to create innovative products, reduce costs, shorten development cycles and bring products to the market faster.
IT Services- Software Development Services Unit strikes a perfect balance between domain knowledge (of BFSI) and software technology. They specialize in software technology based solutions and offer software services that are of international standards, lower competitive costs, and delivered on-time-every-time through their unique global delivery model.
Banking Products & Financial Services- Onward provides solutions for Retail Banking, Service Branches, Foreign Exchange/Trade Finance, Back Office, SWIFT Connectivity, e-banking, Tele-Banking, Mobile Banking, Government Accounts and customer centric solutions available with different delivery channels like Kiosks, Internet, ATM's, Mobiles.

Achievements/ recognition:

An ISO 9001-2000 certified company

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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
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Onward Technologies Ltd (ONWARDTEC) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Onward Technologies Share Price