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Onward Technologies Ltd share Price Today

Company details

401.65
408.45
334.30
740.00
6M Return -42.72%
1Y Return -19.23%
Mkt Cap.(Cr) 911.16
Volume 9,895
Div Yield 1.24%
OI
-
OI Chg %
-
Volume 9,895

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IT Consulting & Software company Onward Technologies announced Q3FY24 & 9MFY24 results:

  • Reported 9MFY24 revenue growth of 10.8% YoY to Rs 353.9 crore with a double-digit EBITDA margin of 11.0% and PAT grew by 6.4 times YoY to Rs 27.2 crore.
  • Reported Q3FY24 revenue decline by 5.1% QoQ to Rs 114.1 crore with EBITDA margin of 8.2% primarily impacted due to higher furloughs.
  • Continued to maintain momentum in its focused verticals in Q3FY24:
    • Industrial Equipment & Heavy Machinery contributed 51% of consolidated revenues.
    • Transportation & Mobility accounted for 38% of consolidated revenues.
    • Healthcare contributed 8% of consolidated revenues.
  • 13 clients now deliver more than $1 million in revenues on annualized basis.
  • Top 25 clients contribute 85% of total revenues.
  • Total headcount stood at 2,604 employees.

Commenting on the results, Jigar Mehta, Managing Director, Onward Technologies, said, “We reported a revenue growth of 10.8% on a YoY basis and sustained a double-digit EBITDA margin of 11.0% in 9MFY24. Our commitment to profitable growth across three focused industry verticals and targeted geographies will continue. In a seasonally soft quarter, deal pipeline momentum remained strong. We are well poised to leverage the investments made in building capabilities and hiring experienced sales and delivery leadership. Our dedication to execute remains strong as we continue to focus on delivering value to our stakeholders, customers, and employees.”

 

Result PDF

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Onward Technologies Ltd shares SWOT Analysis

Strengths (6)

  • Strong Annual EPS Growth
  • Company with No Debt
  • Strong cash generating ability from core business - Improving Cash Flow from operation for last 2 years

Weakness (5)

  • Degrowth in Quarterly Revenue and Profit in Recent Results(YoY)
  • Declining profits every quarter for the past 3 quarters
  • Declining Net Cash Flow : Companies not able to generate net cash

Opportunity (1)

  • Companies with current TTM PE Ratio less than 3 Year, 5 Year and 10 Year PE

Threats (1)

  • Promoter decreasing their shareholding

Resistance and support

R1 411.8
R2 422.8
R3 430.3
Pivot

404.25

S1 393.3
S2 385.8
S3 374.8
EMA SMA
403.8
430.6
466.5
486.1
394.0
436.7
479.4
530.4
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
WHITE OAK INDIA EQUITY FUND IV Bulk Sell 2024-03-12 463.81 125248 NSE
GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 2023-12-22 638.08 136973 NSE
RAJ TRADING Bulk Purchase 2023-12-22 641.98 360 NSE
Name Category Shares
Jigar Harish Mehta PROMOTER 1.67%
Heral Harish Mehta PROMOTER 1.08%
Harish Shantilal Mehta PROMOTER 0.96%
Prachi Mehta PROMOTER 0.67%
JHM Enterprises Private Limited (formerly known as Onward Software Technologies Private Limited) PROMOTER 33.74%

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
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Onward Technologies Ltd Stocks COMPARISON

Financials( in Cr) Onward Technologies Ltd Tata Consultancy Services Ltd Infosys Ltd HCL Technologies Ltd Wipro Ltd
Price 404.60 3,816.50 1,503.40 1,433.20 490.80
% Change 0.96 0.04 0.35 -0.28 -0.21
Mcap Cr 911.16 1,380,843.29 624,041.34 388,922.47 256,449.77
Revenue TTM Cr 440.93 240,893.00 153,670.00 101,456.00 90,487.60
Net Profit TTM Cr 11.48 46,099.00 26,248.00 14,845.00 11,366.50
PE TTM 26.67 29.62 23.90 24.85 23.29
1 Year Return -19.23 18.88 16.18 25.99 29.11
ROCE 10.41 62.85 44.74 27.62 17.11
ROE 6.81 51.04 37.12 23.32 15.89
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 173.85 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 32,550.52 645.34
LAST 3M 103,712.87 -29,605.88
LAST 6M 176,931.00 -14,371.69
LAST 12M 290,309.13 100,312.35

Onward Technologies Ltd Information

Stock PE (TTM)
26.67
Promoter Holding
38.12%
Book Value
91.7612
ROCE
10.41%
ROE
6.81%
Description
  • Onward Technologies Limited was incorporated on July 18, 1991. The Company is a leading global player in Mechanical Engineering Design and IT Services. The Company is one of the India`s leading engineering and IT services companies, providing integrated product development solutions and services to many of the Fortune 1000 companies. Founded in 1991, the Company deals in mechanical engineering, embedded products and systems development, mobile and enterprise software development, data analytics and digital transformation, robotic process automation, and managed services for infrastructure, applications and databases. In 1993 it started developing software for computer controlled CNC Machines. Later in 1994, the business lines of erstwhile group companies the Onward Computer Technologies Pvt Ltd.,(a System Integration Company) and Onward Network Technologies Pvt Ltd.(A Network Solutions Company) were acquired to consolidate synergistic business in IT. The company was also converted into a public limited company and the name changed to the present one in the year 1994. The company has also made it`s maiden public offer at a premium of Rs.40/- per share in the same year. In 1995 the company has entered into a strategic tie-up with Structural Dynamics Research Corporation being Sole distributor on al hardware platforms. The company has closed the system integration division in the year 1997 and shifted its focus to professional services and solutions business. The company tie-up with Set Point, US, for its process simulation software. OTL`s banking group offers branch automation solutions like total branch mechanisation based on PC Lan Netware, microcomputer-based advanced ledger postings with customised software, etc. The company`s US subsidiary, Onward Technologies, Inc. became operational with offices in the states of California and Utah. Onward Technologies ,during the year 1999-2000, has entered into a Global Partnership Agreement with Novell, Inc., USA to provide E-Commerce related consultancy services to various business units of Novell, Inc. especially in areas of Net Mangement, Net Directory and Net Content. In the year 2000 the company has opened its Pune development centre for PSSD project. and got a large offshore simulation project order from Aspen Tech Software. In 2001 , the company has set up a wholly owned subsidiary in Germany under the name Onward Technologies GmbH. The company has established 2 new Software Development Centres in the year 2002,one in Pune and another in Turbe,Mumbai. The company has signed a new partnership agreement recently with Experia Solutions,Inc., a high-end consulting company which is specialising in the areas of eSolutions. In Financial Year 2002-2003, Company had restructured its activities into two distinct entities and the Domestic Banking Business was hived off into a wholly owned subsidiary,Onward eServices Limited. During the Financial Year 2003-2004, the Company consolidated its business in the Engineering Design space and emerged as one of the very few handful Indian Service providers who could offer End-to-End (ART to PART) solutions from designing, modeling, simulation to FEA and prototyping of Engineering Designs. It catered to various industrial segments such as automobiles, off road automotive, aerospace, machine tools, semi-conductors etc. in addition to providing Engineering Design Services for sheet metal, castings and plastics to quite a few of the fortune 500 companies. During the year 2005, Company invested in people & scalable infrastructure, including investing in both popular and specialized CAD/ CAE technologies. In 2008, it completed a massive restructuring initiated 24 months back across the board & now is focused on 2 main business lines consisting of Mechanical Engineering Design Services (EDS) and IT Consulting Services (ITS). In 2009, the Company offered a Scheme of Arrangement to respective Members of Onward Technologies Ltd. (OTL) and Onward eServices Ltd (OEL) and for reconstruction and reduction of capital of OEL and specified creditor of OEL viz. OTL L and further convened meetings of shareholders of OTL on June 9, 2008. Pursuant to the above meeting the Company had obtained necessary sanction of the Scheme from the Honorable High Court of Mumbai vide its Order dated April 16, 2009, which became effective from the Appointed date, April 1, 2007. In 2015, the Company completed a major Computational Fluid Dynamics (CFD) project for a global energy management organization from US for their huge battery packs that helped to improve the efficiency. During the year 2021, the Company had 4 subsidiaries, Onward eServices Limited (OeSL), Onward Technologies Inc. (OTI), Onward Technologies GmbH (OTG) and Onward Properties Private Limited (OPPL). The Board of Directors of the Company at their meeting held on May 15, 2020, approved the Scheme of Merger by Absorption of Onward eServices Limited (OeSL), wholly-owned subsidiary of the Company with the Company, which was heard by the Hon`ble NCLT and thereafter NCLT sanctioned the Scheme of OeSL with Onward Technologies Limited on March 25, 2021, which became effective from the appointed date of the Scheme, January 1, 2020 and May 14, 2021. During the year 2021-22, the Company acquired entire equity shareholding and preference shares of OT Park on December 1, 2021. Consequent to the acquisition of entire shareholding, OT Park became a wholly owned subsidiary of the Company. Onward Technologies Canada Inc. and Onward Technologies BV were incorporated as wholly-owned subsidiaries on May 25, 2021 in Toronto, Canada and June 04, 2021 in Netherlands respectively. OPPL ceased to be a wholly-owned subsidiary of Company w.e.f. August 25, 2021.

Registered Address

Sterling Center 2nd Floor, Dr A B Road Worli, Mumbai, Maharashtra, 400018

Tel : 91-22-2492-6570
Email : investors:onwardgroup.com; info:onwardgroup.com
Website : http://www.onwardgroup.com
Registrar

Link Intime India Pvt Ltd

AGM Date (Month) : Jul
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 517536
NSE Code : ONWARDTEC
Book Closure Date (Month) : Jul
BSE Group : B
ISIN : INE229A01017

FAQ’s on Onward Technologies Ltd Shares

You can buy Onward Technologies Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Onward Technologies Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Jun 19, 2024 09:49 AM the closing price of Onward Technologies Ltd was Rs.404.60.

The latest PE ratio of Onward Technologies Ltd as of Jun 19, 2024 09:49 AM is 26.67

The latest PB ratio of Onward Technologies Ltd as of Jun 19, 2024 09:49 AM is 0.23

The 52-week high of Onward Technologies Ltd share price is Rs. 740.00 while the 52-week low is Rs. 334.30

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of Jun 19, 2024 09:49 AM, the market cap of Onward Technologies Ltd stood at Rs. 911.16.

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