Onward Technologies

₹440.1 -0.4 | 0.1%

WEBSITE BSE:517536 NSE : ONWARD TECHN 10 May, 16:01

Market Cap ₹991 Cr.

Stock P/E 28.6

P/B 5

Current Price ₹440.1

Book Value ₹ 87.6

Face Value 10

52W High ₹739

Dividend Yield 0.68%

52W Low ₹ 342.7

Edit Ratio

Onward Technologies Research see more...

Onward Technologies Ltd. (ONWARDTEC) - Shifting from low-margin legacy services to high margin ER&D and Digital businesses

Overview Inc. Year: 1991Industry: IT - Software

Onward Technologies Ltd gives mechanical engineering design offerings (EDS) and IT consulting offerings (ITS). The Company gives product design and mechanical engineering services with a number of offerings, inclusive of new product development (NPD), engineering analysis, sustenance engineering, and production solutions for car, off highway, industrial equipment, aerospace, and consumer items industries. Its segment include professional services and consultancy (along with exports), and software merchandise - resale. The software merchandise - resale section is targeted across the Company's merchandise and other employer-related products. It presents Art to Part/Total Engineering product layout solutions. It allows clients in product development projects with its method of Analytically Driven Design & Development (AD3). It allows original equipment manufacturers (OEMs) and device tool industries in the areas of manufacturing solutions or automation solutions.

Onward Technologies Share Price

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Peer Comparison

Onward Technologies Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	73	77	87	94	110	116	121	120	120	114
Other Income	4	0	2	2	1	1	2	3	1	4
Total Income	77	78	89	96	111	117	123	122	122	118
Total Expenditure	66	68	81	91	107	109	107	105	105	105
Operating Profit	11	10	8	5	4	8	16	17	16	13
Interest	0	0	0	0	0	0	0	0	0	0
Depreciation	3	2	3	3	3	3	3	3	3	3
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	9	7	5	2	0	4	12	13	13	10
Provision for Tax	3	2	2	0	-0	1	5	3	3	3
Profit After Tax	6	5	3	1	1	2	7	11	10	7
Adjustments	-0	-0	0	0	0	-0	0	0	0	0
Profit After Adjustments	6	5	3	1	1	2	7	11	10	7
Adjusted Earnings Per Share	3.2	2.3	1.5	0.5	0.3	1.1	3.2	4.9	4.3	3

Onward Technologies Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	146	167	189	198	224	244	261	272	240	307	441	475
Other Income	2	1	1	2	3	5	1	1	5	22	5	10
Total Income	148	168	190	200	226	249	262	273	246	329	446	485
Total Expenditure	133	158	177	184	212	233	239	248	223	286	414	422
Operating Profit	15	10	13	16	14	16	24	24	23	43	33	62
Interest	3	3	3	4	3	3	3	3	2	1	2	0
Depreciation	4	4	5	4	4	5	6	11	10	10	13	12
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	8	3	5	8	7	8	15	10	10	32	18	48
Provision for Tax	2	3	2	5	2	1	5	3	2	8	7	14
Profit After Tax	5	0	3	3	4	7	10	6	7	24	11	35
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	5	0	3	3	4	7	10	6	7	24	11	35
Adjusted Earnings Per Share	3.9	0.1	2	2.1	2.7	4.3	6.4	3.9	4.5	10.8	5.1	15.4

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	44%	17%	13%	12%
Operating Profit CAGR	-23%	11%	16%	8%
PAT CAGR	-54%	22%	9%	8%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	28%	53%	54%	25%
ROE Average	7%	13%	14%	13%
ROCE Average	12%	17%	18%	17%

Onward Technologies Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	23	26	32	36	42	50	61	68	74	163	174
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	18	12	11	3	5	2	1	0	1	1	0
Other Non-Current Liabilities	-1	0	-1	1	1	0	2	11	7	15	11
Total Current Liabilities	39	47	45	51	41	47	41	54	52	48	55
Total Liabilities	79	86	87	91	90	100	105	133	134	227	240
Fixed Assets	12	12	12	11	18	16	15	28	30	57	54
Other Non-Current Assets	14	20	21	12	12	16	19	23	14	22	21
Total Current Assets	53	53	55	68	60	68	70	83	90	148	166
Total Assets	79	86	87	91	90	100	105	133	134	227	240

Onward Technologies Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	2	2	2	2	-14	-11	8	4	18	28	50
Cash Flow from Operating Activities	2	3	15	10	14	16	11	29	33	-4	6
Cash Flow from Investing Activities	-2	-4	-6	-2	-11	-5	-5	-6	-10	-32	6
Cash Flow from Financing Activities	3	-1	-11	-9	-0	-10	-9	-10	-12	57	-14
Net Cash Inflow / Outflow	2	-2	-2	-1	3	2	-3	13	11	21	-2
Closing Cash & Cash Equivalent	2	2	2	2	-11	-10	4	18	28	50	47

Onward Technologies Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	3.85	0.05	1.99	2.13	2.7	4.32	6.41	3.89	4.49	10.76	5.15
CEPS(Rs)	6.79	2.54	5.63	4.69	5.55	7.85	9.99	10.95	10.88	15.34	10.97
DPS(Rs)	0	0	0	1	1	1	1.5	1.5	3	3	3
Book NAV/Share(Rs)	16.72	18.15	21.32	23.66	25.83	29.91	36.51	40.36	43.96	72.87	76.12
Core EBITDA Margin(%)	9.23	5.12	6.5	6.97	5.01	4.61	8.59	8.61	7.17	6.97	6.19
EBIT Margin(%)	7.66	3.72	4.26	5.92	4.2	4.31	6.87	4.83	5.05	10.69	4.47
Pre Tax Margin(%)	5.35	1.67	2.43	4.11	2.95	3.07	5.82	3.55	4.08	10.36	4.09
PAT Margin (%)	3.65	0.05	1.53	1.61	1.83	2.75	3.88	2.3	3.05	7.71	2.6
Cash Profit Margin (%)	6.43	2.17	4.34	3.54	3.77	4.99	6.05	6.47	7.4	11	5.55
ROA(%)	7.24	0.09	3.36	3.58	4.53	7.08	9.91	5.23	5.48	13.12	4.92
ROE(%)	25.92	0.31	10.21	9.6	10.99	15.67	19.45	10.19	10.75	20.39	6.95
ROCE(%)	20.65	10.19	12.97	19.42	14.79	15.05	23.74	15.89	13.79	25.89	11.65
Receivable days	87.94	82.44	75.34	71.3	70.93	70.28	66.08	66.34	68.81	63.78	72.96
Inventory Days	0	0	0.62	0	0	0	0	0	0	0	0
Payable days	0	0	-6077.17	0	0	0	0	0	0	0	0
PER(x)	10.56	889.6	25.11	32.65	29.82	20.23	10.69	11.32	25.21	33.5	55.96
Price/Book(x)	2.43	2.59	2.35	2.94	3.11	2.92	1.88	1.09	2.58	4.94	3.78
Dividend Yield(%)	0	0	0	1.44	1.24	1.14	2.19	3.41	2.65	0.83	1.04
EV/Net Sales(x)	0.61	0.61	0.53	0.63	0.64	0.62	0.46	0.25	0.71	2.39	1.35
EV/Core EBITDA(x)	5.96	10.45	7.49	8.05	10.49	9.39	5.12	2.72	7.56	17.08	18.22
Net Sales Growth(%)	11.87	14.32	13.38	4.54	12.97	9.35	6.77	4.03	-11.48	27.83	43.5
EBIT Growth(%)	33.1	-44.54	29.81	45.27	-19.76	12.19	70.23	-26.94	-7.41	170.55	-40.02
PAT Growth(%)	-18.08	-98.59	3760.29	9.65	28.66	63.84	50.89	-38.45	17.64	222.76	-51.53
EPS Growth(%)	-19.98	-98.63	3673.43	7.02	26.44	60.2	48.38	-39.36	15.51	139.48	-52.15
Debt/Equity(x)	1.53	1.42	0.95	0.66	0.64	0.48	0.31	0.28	0.21	0	0
Current Ratio(x)	1.38	1.14	1.21	1.32	1.45	1.45	1.7	1.53	1.73	3.07	3.01
Quick Ratio(x)	1.38	1.14	1.2	1.32	1.45	1.45	1.7	1.53	1.73	3.07	3.01
Interest Cover(x)	3.31	1.82	2.32	3.28	3.36	3.48	6.54	3.78	5.22	32.65	11.84
Total Debt/Mcap(x)	0.63	0.55	0.4	0.23	0.21	0.17	0.16	0.26	0.08	0	0

Onward Technologies Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	45.97	45.79	45.69	45.52	45.43	45.21	45.07	44.96	38.15	38.12
FII	0.22	0.03	0	0	0.01	0	0.06	0.09	2.14	2.51
DII	0.54	0.25	0.24	0.23	0.31	0.55	0.87	0.84	6.15	7.65
Public	53.28	53.93	54.07	54.26	54.25	54.24	54	54.11	53.56	51.73
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	1.01	1.01	1.01	1.01	1.01	1.01	1.01	1.01	0.86	0.86
FII	0	0	0	0	0	0	0	0	0.05	0.06
DII	0.01	0.01	0.01	0	0.01	0.01	0.02	0.02	0.14	0.17
Public	1.17	1.19	1.19	1.2	1.2	1.21	1.21	1.21	1.21	1.16
Others	0	0	0	0	0	0	0	0	0	0
Total	2.19	2.2	2.21	2.22	2.22	2.23	2.24	2.24	2.25	2.25

Pros

Company has reduced debt.
Company is almost debt free.

Cons

Promoter holding is low: 38.12%.
Company has a low return on equity of 13% over the last 3 years.
Stock is trading at 5 times its book value.
The company has delivered a poor profit growth of 9% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.