
About Onward Technologies
Onward Technologies is a publicly listed company based in Mumbai (India) founded in 1991 by Harish Mehta. Digital and ERD services are provided via software outsourcing. The company has 2,580 employees. Onward Technologies has completed 1 acquisition, including HOW Logistics Group. Its website onwardgroup.com draws about 10 thousand monthly visits. Its Indian entity Onward Technologies Limited reported revenue of βΉ551 Cr. Onward Technologies offers products and services including Digital Services, Embedded Product Engineering, Mechanical Product Engineering, Testing and Validation, and Industrial Artificial Intelligence. Its focus areas include Business Services, IT Services and Suite. Its competitors include Happiest Minds and Datamatics; 2 of its 2 listed competitors have raised funding.
Company details
Onward Tech is a software outsourcing company specializing in Digital and ERD services. Headquartered in Mumbai, with a prominent global presence in North America Europe, and state-of-the-art offshore delivery centres (ODC) in India, it supports businesses in focused verticals of Transportation Mobility, Industrial Equipment Heavy Machinery, and Healthcare Lifesciences. With a scalable outsourcing and offshore model across 6 countries, a fast-growing team of 2800 employees, and long-term customer associations, Onward Tech accelerates innovation and maximize returns on RD investments for its marquee customers. With two decades of expertise in Mechanical Engineering capabilities, Onward Tech has augmented its prowess digital engineering, including embedded software services delivered for North American and European Original Equipment Manufacturers. Founded in 1991, the company has been listed on both NSE and BSE since 1995.
- Headquarters Mumbai, India
- Employees 2,580
- Founders Harish Mehta
- Stage Public
- SectorsTechnology
- Website onwardgroup.com
- Social LinkedIn X Facebook
- Legal Name Onward Technologies Limited
- Market Cap₹949 Cr
ONWARDTEC · NSE
- Share Price₹438.80
0.00% today
- Revenue₹544 Cr
FY 2025-26 · +10.7% YoY
- EBITDA₹68.68 Cr
Margin 12.6%
- Net Profit₹46.64 Cr
FY 2025-26 · +72.4% YoY
- P/E (TTM)19.5x
P/B 3.9x
- ROE18.6%
ROCE 21.0%
- Debt / Equity0.15
Interest cover 5.5x
- Latest Funding Round$9.64M (USD), Post-IPO
May 2021
- Investors
- Employee Count2,580
- Investments & Acquisitions
Associated legal entities of Onward Technologies
Onward Technologies is associated with 3 registered companies on The Company Check; the primary company is Onward Technologies Limited, a listed company. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Onward Technologies Limited Listed CIN L28920MH1991PLC062542 | Active | 18 Jul 1991 | Mumbai, Maharashtra | ₹551 Cr | 2,581 | 9 | View details |
| Onward Eservices Limited CIN U72900MH2003PLC140979 | Amalgamated | 19 Jun 2003 | Mumbai, Maharashtra | ₹59.2 Cr | 504 | 6 | View details |
| Onward Suppliers Private Limited CIN U51909WB2010PTC155559 | Active | 08 Dec 2010 | Kolkata, West Bengal | ₹1.7 Cr | 2 | View details |
Products & Services of Onward Technologies
Onward Technologies offers a comprehensive portfolio of products and services, including Digital Services, Embedded Product Engineering, Mechanical Product Engineering, Testing and Validation, and Industrial Artificial Intelligence.
Accelerates product development and market speed for clients.
Fast-tracks product deployment with hardware and software expertise.
Develops smarter products for precision and reliability in industries.
Automates testing to ensure product quality and reduce manual efforts.
Provides insights to enhance productivity in manufacturing processes.
Funding Insights of Onward Technologies
- Total Rounds 1
- Last Round Post-IPO β $9.64M
- First Round $9.64M
(May 2021)
- Investors Count 1
All 1 funding rounds of Onward Technologies with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2021 | $9.64M | Post-IPO | β | β |
1 investors in total: 1 institutional.
Investors in Onward Technologies
Onward Technologies has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Convergent Finance.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Convergent Finance is engaged in private equity investments in India. | convergentfinance.com | Mumbai, India |
Investor details for Onward Technologies
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Onward Technologies Limited (Onward Technologies)
Onward Technologies Limited is the primary company behind Onward Technologies. The boards of the 3 registered companies of Onward Technologies currently have 12 directors; the longest-serving is Harish Mehta Shantilal, appointed in 1991. 43 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Harish Mehta Shantilal DIN 00153549 | Whole-time director | 18 Jul 1991 | 35 yrs 3 mo | Onward Technologies Limited |
| Samarjeet Kundu DIN 06675469 | Director | 06 Dec 2013 | 12 yrs 10 mo | Onward Suppliers Private Limited |
| Jigar Harish Mehta DIN 06829197 | Managing Director | 16 May 2016 | 10 yrs 5 mo | Onward Technologies Limited, Onward Eservices Limited |
| Dipankar Ghosh DIN 06755497 | Director | 08 Aug 2017 | 9 yrs 2 mo | Onward Suppliers Private Limited |
| Parish Arun Meghani DIN 02106768 | Director | 15 May 2018 | 8 yrs 5 mo | Onward Eservices Limited |
| Sankar Venkatanarayanan DIN 08578294 | Director | 23 Oct 2019 | 7 yrs | Onward Eservices Limited |
| Devanand Ramandasani DIN 09426139 | CFO | 23 Oct 2019 | 7 yrs | Onward Eservices Limited |
| Jay Nitin Sonawala DIN 01401445 | Director | 15 May 2020 | 6 yrs 5 mo | Onward Technologies Limited |
| Harsha Raghavan DIN 01761512 | Director | 30 Jun 2021 | 5 yrs 3 mo | Onward Technologies Limited |
| Niranjani Chandramouli DIN 07128770 | Director | 29 Sep 2022 | 4 yrs | Onward Technologies Limited |
| Jai Shishir Diwanji DIN 00910410 | Director | 12 May 2023 | 3 yrs 5 mo | Onward Technologies Limited |
| Dhanpal Arvind Jhaveri DIN 02018124 | Director | 12 May 2023 | 3 yrs 5 mo | Onward Technologies Limited |
People of Onward Technologies
13 people are tracked at Onward Technologies (6 in leadership, 4 in board & advisors, 3 in team); the tracked headcount is 2,580.
| Name | Role | Group |
|---|---|---|
| Founder | Leadership | |
| Managing Director | Leadership | |
| Managing Director | Leadership | |
Lakshmi Bharathi R | Deputy General Manager | Leadership |
Tejas Narwane | Director Sales - Europe Region | Leadership |
Thiyagarajan Ganesan | Director | Leadership |
| Director | Board & advisors | |
Rahul Rathi | Director | Board & advisors |
| Director | Board & advisors | |
Niranjani C | Director | Board & advisors |
| Executive Chairman | Team | |
Ranjith Kumar | Assistance Manager | Team |
Ajay Srikanth | Account Delivery Manager | Team |
Complete people profiles for Onward Technologies
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
IPO & Listings of Onward Technologies
Onward Technologies is a publicly listed company on the NSE with ticker symbol ONWARDTEC in India, operating in the Technology services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date07 Mar 2001
- Listed onNSE: ONWARDTEC
- Listed entityOnward Technologies Limited
- Exchange sectorTechnology services
- ISININE229A01017
- Share price₹360.70 (+10.32% on the day) · 2026-10-14
- Market capitalisation₹728 Cr
- Price to earnings19.1
- EPS (diluted, trailing year)₹18.91
- Dividend yield2.42%
- Volume (last session)612,469
Financials of Onward Technologies
Exchange-reported figures of Onward Technologies Limited, the listed company behind Onward Technologies (NSE: ONWARDTEC).
Financial Highlights
FY 2025-26 Β· ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 544 | 491 | 472 | 441 | 307 | 240 | 272 |
| Revenue growth | +10.7% | +4.0% | +7.1% | +43.5% | +27.8% | -11.5% | - |
| EBITDA | 68.68 | 44.69 | 52.19 | 27.27 | 21.41 | 17.25 | 23.38 |
| EBITDA margin | +12.6% | +9.1% | +11.1% | +6.2% | +7.0% | +7.2% | +8.6% |
| Profit before tax | 57.03 | 36.29 | 45.15 | 18.03 | 31.82 | 9.83 | 9.65 |
| Net profit | 46.64 | 27.05 | 33.68 | 11.24 | 23.47 | 7.28 | 6.24 |
| Net profit margin | +8.6% | +5.5% | +7.1% | +2.6% | +7.6% | +3.0% | +2.3% |
| EPS (βΉ) | 19.75 | 11.94 | 15.06 | 5.15 | 10.76 | 4.49 | 3.89 |
| Balance sheet | |||||||
| Total assets | 306 | 264 | 240 | 193 | 185 | 104 | 105 |
| Net worth | 254 | 224 | 207 | 174 | 163 | 74.48 | 68.07 |
| Total debt | 39.84 | 32.16 | 28.27 | 16.73 | 18.70 | 25.10 | 34.72 |
| Cash & bank | 111 | 24.72 | 31.47 | 47.50 | 60.44 | 29.47 | 22.14 |
| Net working capital | 202 | 172 | 154 | 120 | 107 | 56.89 | 52.54 |
| Cash flow | |||||||
| Cash from operations | 65.08 | 31.52 | 62.35 | 5.75 | (3.93) | 32.94 | 28.77 |
| Cash from investing | (21.24) | (17.16) | (62.25) | 6.22 | (31.62) | (10.00) | (5.37) |
| Cash from financing | (31.32) | (21.22) | (16.17) | (14.21) | 56.57 | (12.24) | (9.95) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 170 | 149 | 137 | 135 | 139 | 133 | 127 | 123 |
| Revenue growth (YoY) | +22.5% | +12.2% | +7.7% | +9.1% | +13.0% | +13.2% | - | - |
| Other income | 1.04 | 1.73 | 1.92 | 1.52 | 1.13 | 2.47 | 2.69 | 1.13 |
| EBITDA | 26.54 | 18.37 | 15.31 | 16.37 | 19.87 | 17.14 | 13.85 | 11.20 |
| EBITDA margin | +15.6% | +12.3% | +11.2% | +12.2% | +14.3% | +12.9% | +10.9% | +9.1% |
| Depreciation | 4.77 | 4.64 | 4.36 | 4.04 | 4.21 | 3.18 | 3.44 | 3.30 |
| Interest | 0.69 | 0.68 | 0.71 | 0.71 | 0.96 | 0.50 | 0.53 | 0.59 |
| Profit before tax | 22.12 | 14.78 | 12.16 | 13.14 | 15.83 | 15.93 | 12.57 | 8.44 |
| Tax | 5.36 | 3.61 | 2.60 | 3.04 | 3.89 | 3.19 | 2.15 | 2.42 |
| Net profit | 16.76 | 11.17 | 9.56 | 10.10 | 11.94 | 12.74 | 10.42 | 6.02 |
| EPS (βΉ) | 7.61 | 4.98 | 4.23 | 4.47 | 5.23 | 5.57 | 4.56 | 2.63 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 417 | 381 | 346 | 315 | 234 | 173 | 181 |
| Revenue growth | +9.4% | +10.2% | +9.8% | +34.5% | +35.8% | -4.4% | - |
| EBITDA | 53.66 | 38.07 | 41.31 | 28.41 | 17.65 | 19.63 | 14.53 |
| EBITDA margin | +12.9% | +10.0% | +11.9% | +9.0% | +7.5% | +11.4% | +8.1% |
| Profit before tax | 42.86 | 32.95 | 37.25 | 21.75 | 13.03 | 16.73 | 7.57 |
| Net profit | 34.39 | 24.36 | 27.48 | 16.01 | 9.15 | 12.60 | 5.43 |
| Net profit margin | +8.3% | +6.4% | +7.9% | +5.1% | +3.9% | +7.3% | +3.0% |
| EPS (βΉ) | 14.33 | 10.75 | 12.31 | 7.30 | 4.23 | 7.75 | 3.38 |
| Balance sheet | |||||||
| Total assets | 260 | 237 | 218 | 179 | 170 | 88.20 | 86.03 |
| Net worth | 214 | 202 | 188 | 161 | 148 | 73.64 | 61.51 |
| Total debt | 33.96 | 28.52 | 26.37 | 15.37 | 18.36 | 9.94 | 22.06 |
| Cash & bank | 98.74 | 19.06 | 21.72 | 33.75 | 50.27 | 12.87 | 11.73 |
| Net working capital | 142 | 132 | 115 | 87.85 | 75.98 | 31.08 | 23.20 |
| Cash flow | |||||||
| Cash from operations | 60.21 | 34.40 | 66.99 | 3.93 | 4.08 | 26.68 | 29.72 |
| Cash from investing | (17.49) | (15.07) | (62.39) | 5.24 | (33.54) | (7.73) | (3.00) |
| Cash from financing | (32.54) | (22.09) | (16.67) | (15.12) | 57.03 | (14.57) | (21.68) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 129 | 112 | 103 | 102 | 108 | 103 | 99.30 | 96.50 |
| Revenue growth (YoY) | +19.1% | +8.5% | +4.1% | +5.6% | +13.1% | +15.4% | - | - |
| Other income | 1.72 | 2.69 | 2.36 | 2.19 | 1.82 | 2.70 | 3.30 | 2.44 |
| Total expenses | 104 | 96.79 | 92.04 | 90.75 | 90.72 | 89.59 | 91.97 | 86.34 |
| EBITDA | 24.69 | 15.29 | 11.31 | 11.11 | 17.53 | 13.73 | 7.33 | 10.16 |
| EBITDA margin | +19.1% | +13.6% | +10.9% | +10.9% | +16.2% | +13.3% | +7.4% | +10.5% |
| Depreciation | 4.89 | 4.78 | 4.52 | 4.28 | 4.45 | 3.29 | 3.42 | 3.36 |
| Interest | 0.76 | 0.76 | 0.81 | 0.81 | 1.09 | 0.62 | 0.65 | 0.70 |
| Profit before tax | 20.76 | 12.44 | 8.34 | 8.21 | 13.81 | 12.52 | 6.56 | 8.54 |
| Tax | 5.29 | 3.21 | 1.86 | 2.14 | 3.52 | 3.18 | 1.75 | 2.28 |
Financial Statements
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 170 | 149 | 137 | 135 | 139 | 133 | 127 | 123 |
| Revenue growth (YoY) | +22.5% | +12.2% | +7.7% | +9.1% | +13.0% | +13.2% | - | - |
| Other income | 1.04 | 1.73 | 1.92 | 1.52 | 1.13 | 2.47 | 2.69 | 1.13 |
| EBITDA | 26.54 | 18.37 | 15.31 | 16.37 | 19.87 | 17.14 | 13.85 | 11.20 |
| EBITDA margin | +15.6% | +12.3% | +11.2% | +12.2% | +14.3% | +12.9% | +10.9% | +9.1% |
| Depreciation | 4.77 | 4.64 | 4.36 | 4.04 | 4.21 | 3.18 | 3.44 | 3.30 |
| Interest | 0.69 | 0.68 | 0.71 | 0.71 | 0.96 | 0.50 | 0.53 | 0.59 |
| Profit before tax | 22.12 | 14.78 | 12.16 | 13.14 | 15.83 | 15.93 | 12.57 | 8.44 |
| Tax | 5.36 | 3.61 | 2.60 | 3.04 | 3.89 | 3.19 | 2.15 | 2.42 |
| Net profit | 16.76 | 11.17 | 9.56 | 10.10 | 11.94 | 12.74 | 10.42 | 6.02 |
| EPS (βΉ) | 7.61 | 4.98 | 4.23 | 4.47 | 5.23 | 5.57 | 4.56 | 2.63 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 544 | 491 | 472 | 441 | 307 | 240 | 272 |
| Revenue growth | +10.7% | +4.0% | +7.1% | +43.5% | +27.8% | -11.5% | - |
| Other income | 7.04 | 7.21 | 7.27 | 5.40 | 21.53 | 5.34 | 1.06 |
| Total expenses | 475 | 447 | 420 | 414 | 286 | 223 | 248 |
| Employee cost | 396 | 380 | 358 | 353 | 239 | 189 | 211 |
| EBITDA | 68.68 | 44.69 | 52.19 | 27.27 | 21.41 | 17.25 | 23.38 |
| EBITDA margin | +12.6% | +9.1% | +11.1% | +6.2% | +7.0% | +7.2% | +8.6% |
| Depreciation | 15.80 | 13.39 | 12.97 | 12.98 | 10.11 | 10.44 | 11.33 |
| Interest | 2.89 | 2.22 | 1.34 | 1.66 | 1.01 | 2.32 | 3.46 |
| Profit before tax | 57.03 | 36.29 | 45.15 | 18.03 | 31.82 | 9.83 | 9.65 |
| Tax | 12.72 | 9.22 | 11.24 | 6.55 | 8.15 | 2.48 | 3.41 |
| Net profit | 46.64 | 27.05 | 33.68 | 11.24 | 23.47 | 7.28 | 6.24 |
| Net profit margin | +8.6% | +5.5% | +7.1% | +2.6% | +7.6% | +3.0% | +2.3% |
| EPS (βΉ) | 19.75 | 11.94 | 15.06 | 5.15 | 10.76 | 4.49 | 3.89 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 22.44 | 22.69 | 22.52 | 22.31 | 22.02 | 16.34 | 16.04 |
| Reserves & surplus | 231 | 202 | 185 | 152 | 141 | 58.12 | 51.97 |
| Shareholders' funds (net worth) | 254 | 224 | 207 | 174 | 163 | 74.48 | 68.07 |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.51 | 0.60 | 0.69 | 18.13 |
| Unsecured loans | 39.84 | 32.16 | 28.27 | 16.22 | 18.10 | 24.41 | 16.59 |
| Total debt | 39.84 | 32.16 | 28.27 | 16.73 | 18.70 | 25.10 | 34.72 |
| Total liabilities | 306 | 264 | 240 | 193 | 185 | 104 | 105 |
| Assets | |||||||
| Gross block | 119 | 92.07 | 88.12 | 82.08 | 82.38 | 52.61 | 47.83 |
| Net block | 88.86 | 64.55 | 62.54 | 53.61 | 56.73 | 29.81 | 28.04 |
| Capital work in progress | 0.02 | 1.94 | 0.64 | 0.00 | 0.00 | 0.08 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.10 | 0.00 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 120 | 109 | 101 | 110 | 66.56 | 40.83 | 49.80 |
| Cash & bank balances | 111 | 24.72 | 31.47 | 47.50 | 60.44 | 29.47 | 22.14 |
| Loans & advances | 32.08 | 84.54 | 65.53 | 8.70 | 21.11 | 19.89 | 10.80 |
| Total current assets | 263 | 219 | 198 | 166 | 148 | 90.19 | 82.74 |
| Total current liabilities | 61.30 | 46.52 | 43.73 | 46.15 | 40.95 | 33.30 | 30.20 |
| Net working capital | 202 | 172 | 154 | 120 | 107 | 56.89 | 52.54 |
| Total assets | 306 | 264 | 240 | 193 | 185 | 104 | 105 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 24.34 | 31.20 | 47.27 | 49.52 | 28.49 | 17.79 | 4.34 |
| Net cash from operating activities | 65.08 | 31.52 | 62.35 | 5.75 | (3.93) | 32.94 | 28.77 |
| Net cash from investing activities | (21.24) | (17.16) | (62.25) | 6.22 | (31.62) | (10.00) | (5.37) |
| Net cash from financing activities | (31.32) | (21.22) | (16.17) | (14.21) | 56.57 | (12.24) | (9.95) |
| Net change in cash | 12.51 | (6.85) | (16.07) | (2.25) | 21.02 | 10.70 | 13.45 |
| Closing cash | 111 | 24.72 | 31.47 | 47.50 | 60.44 | 29.47 | 22.14 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +10.7% | +4.0% | +7.1% | +43.5% | +27.8% | -11.5% | - |
| EBITDA growth | +53.7% | -14.4% | +91.4% | +27.4% | +24.1% | -26.2% | - |
| PBT growth | +57.2% | -19.6% | +150.4% | -43.3% | +223.7% | +1.9% | -36.5% |
| Net income growth | +72.4% | -19.7% | +199.6% | -52.1% | +222.4% | +16.7% | - |
| Revenue CAGR (3Y) | +7.2% | +16.9% | +25.3% | +17.5% | +5.6% | -0.6% | +6.7% |
| EBITDA CAGR (3Y) | +36.1% | +27.8% | +44.6% | +5.3% | -1.5% | +15.2% | +27.8% |
| Profitability & leverage | |||||||
| Net income margin | +8.2% | +5.5% | +7.2% | +2.6% | +7.7% | +3.1% | +2.3% |
| Return on capital employed | +21.0% | +15.3% | +21.5% | +10.4% | +22.7% | +11.6% | +14.0% |
| Return on net worth | +18.6% | +12.6% | +17.8% | +6.8% | +19.9% | +10.3% | +9.7% |
| Debt / equity | 0.15 | 0.14 | 0.12 | 0.11 | 0.18 | 0.42 | 0.41 |
| Long-term debt / equity | 0.11 | 0.10 | 0.07 | 0.06 | 0.07 | 0.12 | 0.10 |
| Interest cover | 5.47 | 7.09 | 3.42 | 11.62 | 8.94 | 34.07 | 28.71 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 5.16 | 5.45 | 5.55 | 5.36 | 4.55 | 4.79 | 6.90 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 4.74 | 4.67 | 4.49 | 5.00 | 5.72 | 5.30 | 5.50 |
| EPS (βΉ) | 19.75 | 11.94 | 15.06 | 5.15 | 10.76 | 4.49 | 3.89 |
| Dividend per share (βΉ) | 8.00 | 5.00 | 5.00 | 3.00 | 3.00 | 3.00 | 1.50 |
| Book value per share (βΉ) | 112.95 | 98.87 | 91.98 | 77.94 | 74.09 | 45.57 | 42.39 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 129 | 112 | 103 | 102 | 108 | 103 | 99.30 | 96.50 |
| Revenue growth (YoY) | +19.1% | +8.5% | +4.1% | +5.6% | +13.1% | +15.4% | - | - |
| Other income | 1.72 | 2.69 | 2.36 | 2.19 | 1.82 | 2.70 | 3.30 | 2.44 |
| Total expenses | 104 | 96.79 | 92.04 | 90.75 | 90.72 | 89.59 | 91.97 | 86.34 |
| EBITDA | 24.69 | 15.29 | 11.31 | 11.11 | 17.53 | 13.73 | 7.33 | 10.16 |
| EBITDA margin | +19.1% | +13.6% | +10.9% | +10.9% | +16.2% | +13.3% | +7.4% | +10.5% |
| Depreciation | 4.89 | 4.78 | 4.52 | 4.28 | 4.45 | 3.29 | 3.42 | 3.36 |
| Interest | 0.76 | 0.76 | 0.81 | 0.81 | 1.09 | 0.62 | 0.65 | 0.70 |
| Profit before tax | 20.76 | 12.44 | 8.34 | 8.21 | 13.81 | 12.52 | 6.56 | 8.54 |
| Tax | 5.29 | 3.21 | 1.86 | 2.14 | 3.52 | 3.18 | 1.75 | 2.28 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 417 | 381 | 346 | 315 | 234 | 173 | 181 |
| Revenue growth | +9.4% | +10.2% | +9.8% | +34.5% | +35.8% | -4.4% | - |
| Other income | 9.07 | 11.18 | 10.28 | 7.70 | 5.60 | 8.46 | 6.52 |
| Total expenses | 363 | 343 | 305 | 287 | 217 | 153 | 166 |
| Employee cost | 301 | 286 | 258 | 241 | 176 | 122 | 132 |
| EBITDA | 53.66 | 38.07 | 41.31 | 28.41 | 17.65 | 19.63 | 14.53 |
| EBITDA margin | +12.9% | +10.0% | +11.9% | +9.0% | +7.5% | +11.4% | +8.1% |
| Depreciation | 16.53 | 13.59 | 12.90 | 12.70 | 9.21 | 9.28 | 10.19 |
| Interest | 3.34 | 2.71 | 1.44 | 1.66 | 1.01 | 2.08 | 3.29 |
| Profit before tax | 42.86 | 32.95 | 37.25 | 21.75 | 13.03 | 16.73 | 7.57 |
| Tax | 10.70 | 8.57 | 9.52 | 5.44 | 3.69 | 4.04 | 2.14 |
| Net profit | 34.39 | 24.36 | 27.48 | 16.01 | 9.15 | 12.60 | 5.43 |
| Net profit margin | +8.3% | +6.4% | +7.9% | +5.1% | +3.9% | +7.3% | +3.0% |
| EPS (βΉ) | 14.33 | 10.75 | 12.31 | 7.30 | 4.23 | 7.75 | 3.38 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 22.44 | 22.69 | 22.52 | 22.31 | 22.02 | 16.34 | 16.04 |
| Reserves & surplus | 191 | 179 | 165 | 139 | 126 | 57.28 | 45.41 |
| Shareholders' funds (net worth) | 214 | 202 | 188 | 161 | 148 | 73.64 | 61.51 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.51 | 0.60 | 0.69 | 6.86 |
| Unsecured loans | 33.96 | 28.52 | 26.37 | 14.86 | 17.76 | 9.25 | 15.20 |
| Total debt | 33.96 | 28.52 | 26.37 | 15.37 | 18.36 | 9.94 | 22.06 |
| Total liabilities | 260 | 237 | 218 | 179 | 170 | 88.20 | 86.03 |
| Assets | |||||||
| Gross block | 92.84 | 68.59 | 66.85 | 60.63 | 63.03 | 49.65 | 43.92 |
| Net block | 66.03 | 44.09 | 43.82 | 34.80 | 38.12 | 28.55 | 25.63 |
| Capital work in progress | 0.02 | 1.94 | 0.64 | 0.00 | 0.00 | 0.08 | 0.00 |
| Investments | 33.22 | 33.25 | 33.25 | 33.25 | 32.02 | 12.24 | 12.14 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Sundry debtors | 70.06 | 84.40 | 70.54 | 84.85 | 46.39 | 28.34 | 33.88 |
| Cash & bank balances | 98.74 | 19.06 | 21.72 | 33.75 | 50.27 | 12.87 | 11.73 |
| Loans & advances | 28.05 | 82.53 | 65.22 | 9.01 | 23.75 | 18.87 | 9.34 |
| Total current assets | 197 | 186 | 157 | 128 | 120 | 60.08 | 54.95 |
| Total current liabilities | 54.54 | 54.12 | 42.60 | 39.76 | 44.43 | 29.00 | 31.75 |
| Net working capital | 142 | 132 | 115 | 87.85 | 75.98 | 31.08 | 23.20 |
| Total assets | 260 | 237 | 218 | 179 | 170 | 88.20 | 86.03 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 18.68 | 21.45 | 33.51 | 39.46 | 11.88 | 7.50 | 2.46 |
| Net cash from operating activities | 60.21 | 34.40 | 66.99 | 3.93 | 4.08 | 26.68 | 29.72 |
| Net cash from investing activities | (17.49) | (15.07) | (62.39) | 5.24 | (33.54) | (7.73) | (3.00) |
| Net cash from financing activities | (32.54) | (22.09) | (16.67) | (15.12) | 57.03 | (14.57) | (21.68) |
| Net change in cash | 10.17 | (2.76) | (12.07) | (5.95) | 27.58 | 4.38 | 5.04 |
| Closing cash | 98.74 | 19.06 | 21.72 | 33.75 | 50.27 | 12.87 | 11.73 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +9.4% | +10.2% | +9.8% | +34.5% | +35.8% | -4.4% | - |
| EBITDA growth | +41.0% | -7.8% | +45.4% | +61.0% | -10.1% | +35.1% | - |
| PBT growth | +30.1% | -11.5% | +71.3% | +66.9% | -22.1% | +121.0% | -42.4% |
| Net income growth | +41.2% | -11.4% | +71.6% | +75.0% | -27.4% | +132.0% | - |
| Revenue CAGR (3Y) | +9.8% | +17.6% | +26.1% | +20.4% | +25.6% | +17.5% | +24.7% |
| EBITDA CAGR (3Y) | +23.6% | +29.2% | +28.2% | +25.1% | +5.6% | +76.3% | +46.4% |
| Profitability & leverage | |||||||
| Net income margin | +7.7% | +6.4% | +8.0% | +5.2% | +4.0% | +7.4% | +3.0% |
| Return on capital employed | +18.6% | +15.7% | +19.5% | +13.4% | +10.9% | +21.6% | +13.0% |
| Return on net worth | +15.5% | +12.5% | +15.9% | +10.5% | +8.4% | +18.8% | +8.8% |
| Debt / equity | 0.15 | 0.14 | 0.12 | 0.11 | 0.13 | 0.24 | 0.32 |
| Long-term debt / equity | 0.10 | 0.10 | 0.07 | 0.06 | 0.08 | 0.12 | 0.10 |
| Interest cover | 9.00 | 11.07 | 5.07 | 10.57 | 11.97 | 20.10 | 75.81 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 5.16 | 5.63 | 5.43 | 5.10 | 4.16 | 3.69 | 5.18 |
| Inventory turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debtors turnover | 5.40 | 4.92 | 4.45 | 4.80 | 6.27 | 5.55 | 6.52 |
| EPS (βΉ) | 14.33 | 10.75 | 12.31 | 7.30 | 4.23 | 7.75 | 3.38 |
| Dividend per share (βΉ) | 8.00 | 5.00 | 5.00 | 3.00 | 3.00 | 3.00 | 1.50 |
| Book value per share (βΉ) | 95.31 | 88.86 | 83.28 | 72.30 | 67.26 | 45.06 | 38.31 |
Investments & Acquisitions by Onward Technologies
Onward Technologies has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include HOW Logistics Group.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Provider of transportation management, delivery, logistics, and supply chain solutions | howlg.com | Melissa, United States | 2022 | Feb 2024 | β’β’β’β’ |
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Timeline of Onward Technologies
4 dated milestones of Onward Technologies across 33 years, from founding to its latest funding, stage changes and deals.
- Founded Onward Technologies is founded.
- IPO Lists on the stock exchange (IPO).
- Funding First funding round of $9.6M.
- Acquisition Acquires HOW Logistics Group.
Competitors of Onward Technologies
Onward Technologies has 2 listed competitors in our database, 2 of them funded. They include Happiest Minds and Datamatics.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| happiestminds.com | 2011 | Bengaluru, India | $64.83M | 4,517 | IT outsourcing services are delivered across multiple business lines. | |
| datamatics.com | 1975 | Mumbai, India | $3M | 5,875 | Cloud-based text analytics and cognitive automation services are provided. |
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Web traffic of Onward Technologies
The website of Onward Technologies (onwardgroup.com) receives about 10.4K visits a month.
- Monthly visits10.4K
▼ 24% vs previous month
Websites whose visitors overlap most with Onward Technologies. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
programmers.io | programmers.io | 100% | #825,282 | β | |
| irissoftware.com | 98% | 60.6K | #595,666 | View details | |
trigent.com | trigent.com | 98% | #1,103,639 | β | |
talentica.com | talentica.com | 94% | #1,176,696 | β | |
tulsient.com | tulsient.com | 94% | β | ||
| β’β’β’β’β’β’β’β’β’β’ | β’β’β’β’β’β’.com | β’β’% | β’.β’M | #β’β’β’β’β’ | β |
| β’β’β’β’β’β’β’β’β’β’ | β’β’β’β’β’β’.com | β’β’% | β’.β’M | #β’β’β’β’β’ | β |
| β’β’β’β’β’β’β’β’β’β’ | β’β’β’β’β’β’.com | β’β’% | β’.β’M | #β’β’β’β’β’ | β |
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Frequently Asked Questions about Onward Technologies
Onward Technologies was founded in 1991 and raised its 1st funding round 30 years after it was founded.
Onward Technologies is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Onward Technologies has 2,580 employees.
The primary company behind Onward Technologies, Onward Technologies Limited, reported revenue of βΉ551 Cr for FY 2026, up 11% year on year.
Onward Tech is a software outsourcing company specializing in Digital and ERD services. Headquartered in Mumbai, with a prominent global presence in North America Europe, and state-of-the-art offshore delivery centres (ODC) in India, it supports businesses in focused verticals of Transportation Mobility, Industrial Equipment Heavy Machinery, and Healthcare Lifesciences. With a scalable outsourcing and offshore model across 6 countries, a fast-growing team of 2800 employees, and long-term customer associations, Onward Tech accelerates innovation and maximize returns on RD investments for its marquee customers. With two decades of expertise in Mechanical Engineering capabilities, Onward Tech has augmented its prowess digital engineering, including embedded software services delivered for North American and European Original Equipment Manufacturers. Founded in 1991, the company has been listed on both NSE and BSE since 1995.
Onward Technologies's top competitors include Happiest Minds and Datamatics.
Onward Technologies offers Digital Services, Embedded Product Engineering, Mechanical Product Engineering, Testing and Validation, and Industrial Artificial Intelligence.
Yes, Onward Technologies is publicly traded on NSE under the ticker symbol ONWARDTEC.
Onward Technologies has made 1 acquisition, including HOW Logistics Group.
Onward Technologies has 1 investor. Key investors include Convergent Finance.
Onward Technologies is associated with 3 legal entities: Onward Technologies Limited, Onward Eservices Limited, Onward Suppliers Private Limited.
The legal entities of Onward Technologies currently have 15 directors, including Harish Mehta Shantilal, Harsha Raghavan, Niranjani Chandramouli and others.
