Onward Technologies517536Quarterly results
Board approves Sept quarter and half-year results; auditors issue unmodified limited review conclusion
Board met on October 16, 2026 (11:00 AM to 11:55 AM) and approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 17,017.71 | 13,896.89 | +22.5% | 14,942.97 | +13.9% |
| Total income | 17,122.10 | 14,009.61 | +22.2% | 15,116.05 | +13.3% |
| Profit before tax | 2,212.49 | 1,582.67 | +39.8% | 1,477.86 | +49.7% |
| Profit after tax | 1,677.41 | 1,193.92 | +40.5% | 1,116.94 | +50.2% |
| Total comprehensive income | 1,810.72 | 1,337.83 | +35.3% | 1,042.07 | +73.8% |
| Basic EPS | 7.65 | 5.26 | +45.4% | 5.00 | +53% |
- Total Income YoY Change
- +22.2%
- Period
- Quarter ended September 30,2026 (Unaudited)
Auditor's review
Conclusion: Unmodified
Notes to the results
- Current period expenses include R&D credit of ₹ 292.60 lakhs (net of professional fees) from finalization and true-up of R&D expenditure credits.
- Legal proceedings by a former employee against US subsidiary Onward Technologies Inc.; adverse outcome not considered probable, no provision made, disclosed as contingent liability.
- Buyback of 5,48,780 equity shares at ₹328 per share for up to ₹1,800 lakhs completed; shares extinguished June 11, 2026; premium of ₹1,745.12 lakhs utilised from securities premium.
- Previous year exceptional item of 315.50 lakhs: incremental past service cost for employee benefits under the New Labour Codes effective November 21, 2025.
Board meeting outcome
The board met on October 16, 2026 from 11:00 AM to 11:55 AM and approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. B S R & Co. LLP, the statutory auditors, issued an unmodified limited review conclusion on the results.
Consolidated results (unaudited, in lakhs)
- Revenue from operations: ₹17,017.71 lakh for the quarter ended September 30, 2026, against ₹13,896.89 lakh in the quarter ended September 30, 2025.
- Total income: ₹17,122.10 lakh, against ₹14,009.61 lakh.
- Total expenses: ₹14,909.61 lakh.
- Profit before tax: ₹2,212.49 lakh.
- Net profit for the period: ₹1,677.41 lakh.
- Basic earnings per share (of INR 10 each): ₹7.65; diluted: ₹7.61.
- Six months ended September 30, 2026: Revenue from operations ₹31,960.68 lakh, Total income ₹32,238.15 lakh, Net profit for the period ₹2,794.35 lakh.
Standalone results (unaudited, in lakhs)
- Revenue from operations: ₹12,892.70 lakh; Total income ₹13,064.56 lakh.
- Profit before tax: ₹2,074.73 lakh; Net profit for the period ₹1,546.19 lakh.
- Basic earnings per share (of INR 10 each): ₹7.05; diluted: ₹7.02.
Where revenue came from
The group reports a single operating segment. Consolidated revenue from external customers in the September 2026 quarter: Within India ₹9,103.70 lakh, North America ₹6,215.16 lakh, Europe & UK ₹1,698.85 lakh.
Balance sheet and cash flow
- Consolidated total assets as at September 30, 2026: ₹37,652.61 lakh, against ₹37,056.82 lakh as at March 31, 2026.
- Consolidated cash and cash equivalents as at September 30, 2026: ₹4,798.67 lakh.
- Net cash generated from operating activities for the six months ended September 30, 2026: ₹1,844.79 lakh.
- Equity share capital stood at ₹2,191.11 lakh as at September 30, 2026, against ₹2,244.42 lakh as at March 31, 2026.
Other decisions and notes
- An investment of ₹1,310 lakhs in 1,05,000 1% Optionally Convertible Redeemable Preference Shares of OT Park Private Limited, a wholly owned subsidiary, at an issue price of ₹1,248 per share, was approved by the board on September 28, 2026, to provide long-term capital support for the subsidiary's business expansion plans, project development activities and general corporate requirements.
- Under a buyback approved on May 12, 2026, 5,48,780 fully paid equity shares of face value ₹10/- each were bought back for an aggregate consideration not exceeding ₹1,800 lakhs at ₹328 per equity share through the tender offer route. The shares were extinguished on June 11, 2026 and a capital redemption reserve was created; the premium on buyback of ₹1,745.12 lakhs was utilised from the securities premium reserve.
- A former employee has initiated legal proceedings against Onward Technologies Inc, the wholly owned US subsidiary. The matter is contested on merits and, based on management's assessment, legal precedents and independent legal advice, an adverse outcome is not considered probable; accordingly no provision has been recognised and the matter is disclosed as a contingent liability.
- Effective November 21, 2025, the government consolidated 29 existing labour regulations into four labour codes; the estimated employee benefit liability was recognised in the previous year and presented as an 'Exceptional item'.
- Current period expenses include a Research and Development credit of ₹292.60 lakhs net of professional fees, arising from the finalisation and true-up of eligible R&D activities.
- The consolidated statement includes the interim financial information of 4 subsidiaries which have not been reviewed: total assets of ₹4,695.62 lakhs, total revenues of ₹1,151.19 lakhs and ₹2,229.17 lakhs, total net profit after tax of ₹53.24 lakhs and ₹148.7 lakhs, and net cash flows of ₹1,365.81 lakhs; this is considered not material to the Group.
What a retail reader can take away
- This is the company's half-yearly results disclosure, carrying an unmodified limited review conclusion from the auditors.
- Revenue, expenses, profit and earnings per share are set out line by line for both the standalone and consolidated statements.
- Alongside the results, the update records a completed buyback and a fresh preference share investment in the wholly owned subsidiary.
17,122.10 lakhConsolidated Total income
Total income, year-ago quarter14,009.61 (INR In lakhs)
Total comprehensive income, latest quarter1,810.72 (INR In lakhs)
Total comprehensive income, year-ago quarter1,337.83 (INR In lakhs)
Also from Onward Technologies
Audio recording of October 16, 2026 conference call uploaded on company website
17 Oct 2026
Q2 FY27 revenue up 22.2% YoY, EBITDA up 33.7%; FY27 outlook raised to 15-18% revenue growth
16 Oct 2026
Onward Technologies shares surged over 10% ahead of Q2 results due Friday, on heavy volumes and strong order book outlook
14 Oct 2026
More numbers
- Standalone Revenue from operations (Q2 FY27)12,892.70 lakh
- Standalone Net profit for the period (Q2 FY27)1,546.19 lakh
- Equity shares bought back and extinguished5,48,780 equity shares
- Buyback aggregate consideration (maximum)₹1,800 lakhs
- Investment in OT Park OCRPS₹1,310 lakhs
- Total income, latest quarter17,122.10 (INR In lakhs)
- Total income, year-ago quarter14,009.61 (INR In lakhs)
- Total income, previous quarter15,116.05 (INR In lakhs)
- Total comprehensive income, latest quarter1,810.72 (INR In lakhs)
- Total comprehensive income, year-ago quarter1,337.83 (INR In lakhs)
- Total comprehensive income, previous quarter1,042.07 (INR In lakhs)
- Profit after tax, latest quarter1,677.41 (INR In lakhs)
- Profit after tax, year-ago quarter1,193.92 (INR In lakhs)
- Profit after tax, previous quarter1,116.94 (INR In lakhs)
- Revenue from operations, latest quarter17,017.71 (INR In lakhs)
- Revenue from operations, year-ago quarter13,896.89 (INR In lakhs)
- Revenue from operations, previous quarter14,942.97 (INR In lakhs)
- Profit before tax, latest quarter2,212.49 (INR In lakhs)
- Profit before tax, year-ago quarter1,582.67 (INR In lakhs)
- Profit before tax, previous quarter1,477.86 (INR In lakhs)
Source: BSE · 16 Oct 2026
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.