Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 Sep
Source: Bse
Onward Technologies Limited (ONWARDTEC)
Small CapIT stocks · Small cap · NSE
Onward Technologies Limited operates in Software Services, within the IT sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:16 pm ISTDetails
Quote19 Oct, 03:16 pm IST
Base fundamentals18 Oct 2026 · screener
Official result overlay30 Sept 2026 · nse-xbrl
Latest result16 Oct, 12:14 pm IST
Score19 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · IT P/E 21.1 (n=204)
Technical timing lens
Trend score and candlestick chart
87Strong Bullfull bull SMA stack · SMA20 +8.1% / mo · RSI overbought · MACD + · near 52W high · sector +14.2pp vs Nifty 500 (3M)
Stock trend: 78
Sector RS: 100
Sector 3M: +8.5% vs Nifty 500 -5.7%
IT FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
ONWARDTECW candles · FIT view+30.4%Latest close ₹427.40 on 2026-10-12
Bar
+38.8%
RSI
85
MACD hist
10.28
52W pos
100%
2026-10-12O ₹307.95H ₹427.40L ₹307.95C ₹427.40Vol 37.2L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
ONWARDTECNifty ITNifty 500
- ONWARDTEC
- +48.3%
- Nifty 500
- -4.2%
- Nifty IT
- +11.1%
- Vs Nifty 500
- +52.5 pp
Chart stats
16 Oct 2026- From 52W high
- +0.0%
- 52W range position
- 100%
- ATR (14)
- 4.5%
- Volume vs 20D
- 25.36x
- Avg traded value
- ₹8.2 Cr
- 20D price channel
- ₹281.5 - ₹427.4
₹427.4
₹208.3 - ₹427.4
₹19.4
Latest completed session
20-session average
77.8% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend supports entry, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED70
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent90
Revenue +22.4% · PAT +39.8% YoY
Technical
Strong Bull87
Price trend and sector-relative-strength timing.
Valuation
Legacy model+32.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence84
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Sept 2026
Excellent · 90/100Rev +22% YoY · PAT +40% YoY · margin expansion · +14% QoQ · operating leverage
Filed 16 Oct 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹170.2 Cr | +22.4% | +13.9% |
| EBITDA | ₹26.5 Cr | +32.7% | +44.5% |
| Operating margin | 15.6% | +160 bps | +331 bps |
| PAT | ₹16.8 Cr | +39.8% | +50.1% |
| PAT margin | 9.8% | +122 bps | +237 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 19.10
- P/B
- 3.85
- EV/EBITDA
- 10.15
- Market Cap
- 951.00Cr
Profitability
- ROE
- 19.50%
- ROCE
- 22.90%
- ROA
- 12.73%
- Dividend Y
- 2.75%
Growth (CAGR)
- Revenue 5Y
- 18.00%
- EPS 5Y
- 45.00%
- Revenue 3Y
- 7.00%
- EPS 3Y
- 61.00%
Balance Sheet
- Debt/Equity
- 0.18
- Interest Coverage
- 26.67×
- Altman Z
- 7.73
- Book Value
- 111.00
Cash Flow
- FCF Yield
- 4.63%
- FCF Positive Y
- 10/5
- OCF
- 65.00 Cr
- EPS TTM
- 21.20
Shareholding
- Promoter Hold
- 40.20%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 100%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 170+13.9% vs prev
Net Profit
₹ CrLatest: 16.8+50.1% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Weekly technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 85. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~4.1% over last month) — short-term momentum positive.
- RSI(14) at 85 — overbought zone; risk of mean reversion.
- MACD above signal, histogram expanding — bullish momentum building.
- Within 3% of 52-week high — testing resistance.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
89
RS percentile
Stage 2 UptrendRecent S2
1M return
+46.5%
3M return
+49.5%
6M return
+72.7%
1Y return
+33.5%
RS 1D
+8
RS 20D
+24
Sector rank
#9
Industry rank
#39
Stage evidence
- Price is 56.8% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +2.5%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
08 Oct 2026
S2 age
7 trading sessions
Sector
improving
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
262 observations
16 Oct 2026Value 150.23+19.51%
RS vs Nifty 500150
Valuation & peers
U-Score 70 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 70 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · UNDERVALUEDValuation8/30
Growth25/25
Quality15/20
Balance Sheet9/15
Cash Flow9/10
Piotroski
8/9 (+5)
Penalties
-1
Raw sum
70
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
70/100 · legacy band UNDERVALUED
Positive drivers
- FCF yield is supportive at 4.6%.
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 32.2%.
Main drags
- Penalty bucket subtracts 1 points.
- Valuation is weaker at 8/30; verify the latest quarterly trend.
- Balance sheet is weaker at 9/15; verify the latest quarterly trend.
Sector valuation model
IT valuation: PE and EV/EBITDA against growth and margins
Asset-light IT companies deserve valuation support only when growth, margins, and cash conversion hold up.
Primary lens
PE and EV/EBITDA relative to revenue growth, margins, and cash conversion.
Secondary checks
Deal pipeline, attrition, dollar revenue growth, FCF yield.
Main risk check
Low PE can reflect weak growth or margin pressure.
PE
19.1
PB
3.9
EV/EBITDA
10.2
ROE
19.5%
ROCE
22.9%
FCF Yield
4.6%
Debt/Equity
0.2
MoS
+32.2%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 19 Oct 2026
v4.3-runtime-valuation
Final score
70
Previous: 70
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+32.2%
Previous: +36.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
19 Oct 2026
v4.3-runtime-valuation
77
77
77
77
77
77
71
74
71
70
70
70
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹230.1
-97.1% MoS
Growth-justified P/E
31.6
Growth-justified Value
₹669.5
+32.2% MoS
PEG
0.37
Comparable companies
Peers
Business-comparable peers in IT — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
RMDRIP
Small
R M Drip and Sprinklers Systems Limited
IT Services / Digital
match 166
57
28.5
37.2%
+19%
FAIR VALUE
RADHIKAJWE
Small
Radhika Jeweltech Limited
IT Services / Digital
match 166
72
10.2
20.7%
+68%
UNDERVALUED
UNIECOM
Small
Unicommerce Esolutions Limited
IT Services / Digital
match 165
41
43.2
15.5%
-38%
WATCHLIST
ALLDIGI
Small
Alldigi Tech Limited
IT Services / Digital
match 165
79
12.4
31.5%
+55%
DEEP VALUE
IVALUE
Small
Ivalue Infosolutions Limited
IT Services / Digital
match 164
64
11.7
19.8%
+62%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Onward Technologies Limited operates in Software Services, within the IT sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Sept 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
84Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 97th percentile of the scored universe and 95th percentile within IT. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
135 docs text-extracted · 43 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
97th percentile
overall median 67 · IT: 95th pctile, median 69 · Small: 98th pctile, median 66
Evidence depth
Financial-only
135 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
89
strong · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
90
strong · capital discipline
Results
67
acceptable · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is 7%.
- ▸10 years of positive FCF.
- ▸ROCE is 22.9%.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Onward Technologies Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 2 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 21 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 17 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 25 Jun - Won ₹33 crore engineering services contract for a Dedicated ODC over 3 years.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.