About Onward Eservices Limited
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Onward Eservices Limited was a public limited company based in Mumbai, Maharashtra, India, operated as a subsidiary of Onward Technologies Limited. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the IT consulting and support services segment of the technology and IT services sector. It was incorporated on 19 June 2003.
The company was registered with the Registrar of Companies (ROC), Mumbai, under CIN U72900MH2003PLC140979. Its GSTIN is 27AAACO6297N1ZQ (Maharashtra). The company held 3 GST registrations, of which 2 are active.
The company had an authorised share capital of ₹24.62 Cr and a paid-up capital of ₹24.62 Cr. It was formerly known as Onsoft Technologies Limited. It was led by directors including Jigar Harish Mehta (Whole-Time Director) and Sankar Venkatanarayanan.
Its last annual general meeting (AGM) was held on 14 July 2020, and its latest financial statements are for the year ended 31 March 2020. The registered office was at Sterling Centre 2nd Floor Dr. A.B. Road Worli, Mumbai, Maharashtra, India – 400018.
As per the financials filed for FY 2020, the company reported a revenue of ₹59.24 Cr, a decline of 5% compared to the previous year. For the same year it recorded a net loss of ₹3.05 Cr (net margin -5.1%) and EBITDA of -₹1.37 Cr (EBITDA margin -2.3%). Revenue has grown at a compounded annual rate (CAGR) of 6% over three years and 12% over five years.
The company had about 729 employees on its provident fund (EPFO) records before it was dissolved.
The company was associated with 1 brand: Onward Technologies. As per MCA filings, the company had satisfied charges of ₹24.24 Cr on record. Court records list 7 cases involving the company, including 1 filed by the company and 6 filed against it.
The last known website on record is onwardgroup.com.
Company details
CIN history
Onward Eservices has one previous CIN (Corporate Identification Number): U72900MH2003PTC140979. The current CIN is U72900MH2003PLC140979, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U72900MH2003PLC140979 | Current |
| U72900MH2003PTC140979 | Previous |
Contact details
Onward Eservices Limited's registered office is in Mumbai, Maharashtra. Its website is onwardgroup.com. Its e-mail address is in the company report.
- Email
- Website
- Social Media
- Registered AddressSterling Centre 2nd Floor Dr. A.B. Road Worli, Mumbai, Maharashtra, India – 400018
- IndustryInformation Technology, IT Consulting & Support Services
To see the full contact details of Onward Eservices Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Onward Eservices operates one associated brand: Onward Technologies. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Digital and ER&D services are provided via software outsourcing. | onwardgroup.com |
Business activity
The main business activity of Onward Eservices is information and communication. In detail, this covers computer programming, consultancy and related activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J6 | Computer programming, consultancy and related activities |
To see the full business activity and turnover split of Onward Eservices Limited, buy the company report.
Financials of Onward Eservices Limited
FY 2020 filings availableOnward Eservices Limited reported revenue of ₹59.24 Cr (down 5% YoY) for FY 2020.
Compounded Annual Growth Rate (CAGR)
Revenue fell 5% in the latest year, but over five years it has grown at a compounded annual rate (CAGR) of 12%. EBITDA fell 138% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹59.24 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | -₹1.37 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹3.05 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
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| Trade Payables | |||||
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| Inventories | |||||
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Financial Ratios
| Metrics | FY 2019-20 | FY 2018-19 | FY 2017-18 | FY 2016-17 | FY 2015-16 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -2.3% | ||||
| Net Profit Margin | -5.1% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
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| Quick Ratio | |||||
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| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Onward Eservices Limited, buy the company report.
Board of directors and KMP of Onward Eservices Limited
Onward Eservices Limited currently reports 3 directors and 1 key managerial person. 14 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Sankar Venkatanarayanan | Director | 23 Oct 2019 | 7 Years 0 Months | As last reported |
| Devanand Ramandasani | Cfo | 23 Oct 2019 | 7 Years 0 Months | As last reported |
| Parish Arun Meghani Also directs: Gmcks Storylab Studio LLP, Bangalore Spokes Private Limited | Director | 15 May 2018 | 8 Years 6 Months | As last reported |
| Jigar Harish Mehta | Whole-Time Director | 16 May 2016 | 10 Years 5 Months | As last reported |
Auditor
Onward Eservices Limited is audited by SHAH KHANDELWAL JAIN & ASSOCIATES for the financial year 2020.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| SHAH KHANDELWAL JAIN & ASSOCIATES | FY 2020 | 142740W |
Shareholding
The shareholding of Onward Eservices Limited is on record for 3 financial years, the latest being FY 2020, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2020 | FY 2017 | FY 2016 |
|---|---|---|---|
| Promoters | |||
| Domestic institutional investors (DII) | |||
| Foreign institutional investors (FII) | |||
| Public | |||
| Others |
To see the full shareholding pattern of Onward Eservices Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 07 Jan 2020 | 100327288 | Yes Bank Limited | ₹2 Cr | Satisfied | |
| 26 Mar 2018 | 100179922 | Yes Bank Limited | ₹9.45 Cr | Satisfied | |
| 10 Dec 2009 | 10197568 | Others | ₹7.5 Cr | Satisfied | |
| 06 Oct 2009 | 10182482 | Axis Bank Limited | ₹1.29 Cr | Satisfied | |
| 04 Sep 2003 | 90149440 | Sicom Limited | ₹4 Cr | Satisfied |
To see the full charge records of Onward Eservices Limited, buy the company report.
Total charge records: 5 View all charges
Legal cases
Onward Eservices Limited has 7 court cases on record: 1 filed by Onward Eservices, 6 filed against it. All cases are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 4 | 3 | 0 |
| District courts | 3 | 3 | 0 |
Cases on record (5 of 7)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Maharashtra Industrial and Lab, Maharashtra | Court case (Appln IDA) | Filed against the company by an individual | Disposed |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Ss cases s) | Filed against the company by an individual | Disposed |
| Bombay High Court | Tax appeal | Filed against the company by Pr.Commissioner of Income Tax-7 | Disposed |
| Bombay High Court | Court case (CHOL) | Filed against the company by Commissioner of Income Tax Mumbai-10 | Disposed |
| Bombay High Court | Tax appeal | Filed against the company by The Commissioner of Income Tax - 10, | Disposed |
To see the full case history of Onward Eservices Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Onward Eservices Limited was last rated by Icra on 03 Sep 2020.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 03 Sep 2020 |
To see the full credit ratings and regulatory alerts of Onward Eservices Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Onward Eservices Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Onward Eservices Limited has a workforce of 729 employees on its EPFO records as of Jun 2021.
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2021-22 | 23 |
| FY 2020-21 | |
| FY 2019-20 | |
| FY 2018-19 | |
| FY 2017-18 | |
| FY 2016-17 |
To see the full employee and EPFO history of Onward Eservices Limited, buy the company report.
GST
Onward Eservices has 3 GST registrations: 2 active and 1 cancelled or inactive.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACO6297N1ZQ | Maharashtra | Active | 01 Jul 2017 |
| 33AAACO6297N1ZX | Tamil Nadu | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Onward Eservices Limited, buy the company report.
Recent activity
Onward Eservices Limited has 17 board changes on record since 2012: 4 appointments and 13 cessations. The latest: Sankar Venkatanarayanan ceased to be Additional Director on 14 Jul 2020.
19 earlier events are in the company report.
News
Frequently asked questions
Onward Eservices has been "Amalgamated" (merged) as per MCA records. The company was combined with another entity and no longer exists as a separate legal entity. Business activities, if any, continue under the successor entity.
Onward Eservices was a public limited company based in Mumbai, Maharashtra, India. The company worked in IT consulting and support services, within the information technology industry. It was incorporated on 19 June 2003 and is registered under CIN U72900MH2003PLC140979. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Onward Eservices was incorporated on 19 June 2003. It is registered with the Registrar of Companies, Mumbai.
Onward Eservices had 4 directors and KMP:
- Jigar Harish Mehta - Whole-Time Director
- Sankar Venkatanarayanan - Director
- Parish Arun Meghani - Director
- Devanand Ramandasani - Cfo
The CIN (Corporate Identification Number) of Onward Eservices is U72900MH2003PLC140979. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
The registered office of Onward Eservices is at Sterling Centre 2nd Floor Dr. A.B. Road Worli, Mumbai, Maharashtra, India – 400018.
Onward Eservices can be reached through the website onwardgroup.com. Its registered office is in Mumbai, Maharashtra, India.
The latest financial statements of Onward Eservices on record with the MCA are for the year ended 31 March 2020. Its last annual general meeting was held on 14 July 2020. Year-wise statements from 2015 are in the company report.
The GSTIN of Onward Eservices is 27AAACO6297N1ZQ, registered in Maharashtra. The company has 3 GST registrations in all, of which 2 are active and 1 is cancelled or inactive. Other active GSTINs include 33AAACO6297N1ZX (Tamil Nadu).
Onward Eservices operated in the information technology industry, in the IT consulting and support services segment.
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