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Onward Technologies

BSE:517536
Snowflake Description

Excellent balance sheet unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
517536
BSE
₹1B
Market Cap
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Last updated 2019/04/22 12:38
Company description

As of April 2, 1998, operates as a subsidiary of DXC Technology Company. The last earnings update was 178 days ago. More info.

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517536 Share Price and Events
7 Day Returns
-5.4%
BSE:517536
2.6%
IN IT
0.8%
IN Market
1 Year Returns
-30.5%
BSE:517536
19.3%
IN IT
-0.7%
IN Market
517536 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Onward Technologies (517536) -5.4% 3.4% 2.9% -30.5% -13.7% 23.4%
IN IT 2.6% 4.6% 8.5% 19.3% 49.1% 80.2%
IN Market 0.8% 2.8% 5.9% -0.7% 41.2% 72.5%
1 Year Return vs Industry and Market
  • 517536 underperformed the IT industry which returned 19.3% over the past year.
  • 517536 underperformed the Market in India which returned -0.7% over the past year.
Price Volatility
517536
Industry
5yr Volatility vs Market

Value

 Is Onward Technologies undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Onward Technologies to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Onward Technologies.

BSE:517536 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2018-09-30) in INR ₹ 1.000000
Payout Ratio Company Filings (2018-09-30) 2971.9%
Discount Rate (Cost of Equity) See below 17.4%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BSE:517536
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
IT Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.054 (1 + (1- 35%) (25.89%)) 		1.146
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)		 1.15
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (1.146 * 8.6%) 		17.41%

Discounted Cash Flow Calculation for BSE:517536 using Dividend Discount Model Model

The calculations below outline how an intrinsic value for Onward Technologies is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

BSE:517536 Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= ₹1 / (17.41% - 7.55%) 		₹10.14
BSE:517536 Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹10.14
Current discount Discount to share price of ₹63.80
= -1 x (₹63.80 - ₹10.14) / ₹10.14 		-529%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Onward Technologies is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Onward Technologies's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Onward Technologies's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BSE:517536 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in INR ₹3.62
BSE:517536 Share Price ** BSE (2019-04-22) in INR ₹63.8
India IT Industry PE Ratio Median Figure of 84 Publicly-Listed IT Companies 16.19x
India Market PE Ratio Median Figure of 2,738 Publicly-Listed Companies 16.33x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Onward Technologies.

BSE:517536 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:517536 Share Price ÷ EPS (both in INR)

= 63.8 ÷ 3.62

 17.6x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Onward Technologies is overvalued based on earnings compared to the IN IT industry average.
  • Onward Technologies is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does Onward Technologies's expected growth come at a high price?
Raw Data
BSE:517536 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 17.6x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts		 7%per year
India IT Industry PEG Ratio Median Figure of 21 Publicly-Listed IT Companies 1.32x
India Market PEG Ratio Median Figure of 585 Publicly-Listed Companies 1.32x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Onward Technologies, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Onward Technologies's assets?
Raw Data
BSE:517536 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in INR ₹35.25
BSE:517536 Share Price * BSE (2019-04-22) in INR ₹63.8
India IT Industry PB Ratio Median Figure of 108 Publicly-Listed IT Companies 1.36x
India Market PB Ratio Median Figure of 3,628 Publicly-Listed Companies 1.11x
BSE:517536 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:517536 Share Price ÷ Book Value per Share (both in INR)

= 63.8 ÷ 35.25

 1.81x

* Primary Listing of Onward Technologies.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Onward Technologies is overvalued based on assets compared to the IN IT industry average.
X
Value checks
We assess Onward Technologies's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the IT industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the IT industry average (and greater than 0)? (1 check)
    5. Onward Technologies has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Onward Technologies expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Onward Technologies, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Onward Technologies expected to grow at an attractive rate?
  • Onward Technologies's earnings growth is positive but not above the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Onward Technologies's earnings growth is positive but not above the India market average.
  • Unable to compare Onward Technologies's revenue growth to the India market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BSE:517536 Future Growth Rates Data Sources
Data Point Source Value (per year)
BSE:517536 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 7%
India IT Industry Earnings Growth Rate Market Cap Weighted Average 9.5%
India IT Industry Revenue Growth Rate Market Cap Weighted Average 9.4%
India Market Earnings Growth Rate Market Cap Weighted Average 18.5%
India Market Revenue Growth Rate Market Cap Weighted Average 11.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BSE:517536 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BSE:517536 Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
BSE:517536 Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-09-30 2,514 56
2018-06-30 2,452 63
2018-03-31 2,445 164 67
2017-12-31 2,408 75
2017-09-30 2,377 91
2017-06-30 2,329 66
2017-03-31 2,236 144 41
2016-12-31 2,161 20
2016-09-30 2,099 16
2016-06-30 2,033 20
2016-03-31 1,979 104 32
2015-12-31 1,972 47

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Onward Technologies's earnings are expected to grow by 7% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Onward Technologies is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BSE:517536 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Onward Technologies Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:517536 Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
BSE:517536 Past Financials Data
Date (Data in INR Millions) EPS *
2018-09-30 3.62
2018-06-30 4.05
2018-03-31 4.35
2017-12-31 4.87
2017-09-30 5.98
2017-06-30 4.35
2017-03-31 2.72
2016-12-31 1.35
2016-09-30 1.05
2016-06-30 1.37
2016-03-31 2.16
2015-12-31 3.24

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Onward Technologies will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Onward Technologies's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Onward Technologies has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Onward Technologies performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Onward Technologies's growth in the last year to its industry (IT).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Onward Technologies has delivered over 20% year on year earnings growth in the past 5 years.
  • Onward Technologies's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Onward Technologies's 1-year earnings growth is negative, it can't be compared to the IN IT industry average.
Earnings and Revenue History
Onward Technologies's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Onward Technologies Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BSE:517536 Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 2,514.19 56.49 106.12
2018-06-30 2,452.24 62.90 106.12
2018-03-31 2,444.60 67.16 106.12
2017-12-31 2,407.81 74.63 84.90
2017-09-30 2,377.28 91.08 84.90
2017-06-30 2,328.58 66.00 84.90
2017-03-31 2,235.64 40.99 118.02
2016-12-31 2,161.49 20.21 67.06
2016-09-30 2,098.59 15.74 67.06
2016-06-30 2,032.56 20.25
2016-03-31 1,979.01 31.86 72.05
2015-12-31 1,972.44 47.43 279.26
2015-09-30 1,957.56 37.55 279.26
2015-06-30 1,924.29 38.78 279.26
2015-03-31 1,893.00 29.06 60.58
2014-12-31 1,805.67 -2.35 231.18
2014-09-30 1,741.73 4.41 231.18
2014-06-30 1,698.73 1.59 231.18
2014-03-31 1,669.56 0.75 231.18
2013-12-31 1,642.38 45.50 190.17
2013-09-30 1,611.98 45.41 190.17
2013-06-30 1,542.85 47.43 190.17
2013-03-31 1,460.37 53.32 190.17
2012-12-31 1,416.51 71.88 212.18
2012-09-30 1,378.55 69.63 212.18
2012-06-30 1,358.18 67.65 212.18

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Onward Technologies has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Onward Technologies used its assets less efficiently than the IN IT industry average last year based on Return on Assets.
  • Onward Technologies's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Onward Technologies's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the IT industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Onward Technologies has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Onward Technologies's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Onward Technologies's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Onward Technologies is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Onward Technologies's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Onward Technologies's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Onward Technologies Company Filings, last reported 6 months ago.

BSE:517536 Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 555.11 265.98 35.02
2018-06-30 498.01 225.36 75.57
2018-03-31 498.01 225.36 75.57
2017-12-31 469.87 180.56 31.65
2017-09-30 469.87 180.56 31.65
2017-06-30 427.38 252.74 35.69
2017-03-31 424.21 252.74 32.99
2016-12-31 398.45 205.58 32.63
2016-09-30 398.45 205.58 32.63
2016-06-30 359.33 191.09 24.43
2016-03-31 359.33 234.43 24.43
2015-12-31 381.06 220.79 29.46
2015-09-30 381.06 220.79 29.46
2015-06-30 317.62 294.29 22.61
2015-03-31 317.62 294.29 22.61
2014-12-31 300.98 358.15 20.98
2014-09-30 300.98 358.15 20.98
2014-06-30 263.34 367.91 18.31
2014-03-31 263.34 367.91 18.31
2013-12-31 271.65 336.90 27.17
2013-09-30 271.65 336.90 27.17
2013-06-30 233.03 353.97 24.62
2013-03-31 233.03 353.97 24.62
2012-12-31 225.45 326.41 11.67
2012-09-30 225.45 326.41 11.67
2012-06-30 180.07 316.94 17.09
  • Onward Technologies's level of debt (47.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (124% vs 47.9% today).
  • Debt is well covered by operating cash flow (61.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.5x coverage).
Show me more healthy companies in the IT industry
X
Financial health checks
We assess Onward Technologies's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
    7. Onward Technologies has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Onward Technologies's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.57%
Current annual income from Onward Technologies dividends.
If you bought ₹2,000 of Onward Technologies shares you are expected to receive ₹31 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Onward Technologies's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.5%).
  • Onward Technologies's dividend is below the markets top 25% of dividend payers in India (1.92%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BSE:517536 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
India IT Industry Average Dividend Yield Market Cap Weighted Average of 40 Stocks 1.6%
India Market Average Dividend Yield Market Cap Weighted Average of 1400 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 1.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BSE:517536 Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
BSE:517536 Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2018-06-22 1.000 1.584
2017-07-21 1.000 0.942
2016-07-18 1.000 1.379

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Onward Technologies has been paying a dividend for less than 10 years.
  • Onward Technologies has only been paying a dividend for 3 years, and since then there has been no growth.
Current Payout to shareholders
What portion of Onward Technologies's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.6x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Onward Technologies's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Onward Technologies afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
    7. Onward Technologies has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Onward Technologies's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jigar Mehta
COMPENSATION ₹7,785,516
AGE 38
TENURE AS CEO 2.9 years
CEO Bio

Mr. Jigar H. Mehta has been the Managing Director of Onward Technologies Limited since May 16, 2016. Mr. Mehta served as the Chief Operating Officer of Onward Technologies Limited until May 16, 2016 and served as its General Manager of Corporate Affairs since August 31, 2009. He served as the Manager of Corporate Affairs of Onward Technologies Ltd. since June 19, 2001. Mr. Mehta has satisfactorily contributed to the business affairs of Onward Technologies Ltd. in the past two years and has shown capacities to shoulder higher responsibilities. Considering his qualifications and experience the Directors consider the remuneration payable as indicated in the resolution to be reasonable and commensurate with the Market conditions. He has been a Director of Onward Technologies Limited since May 16, 2016. Mr. Mehta holds a Bachelor of Science in Business Administration with concentrations in Marketing and Management Information System from Boston University, MA, USA.

CEO Compensation
  • Jigar's compensation has been consistent with company performance over the past year.
  • Jigar's remuneration is higher than average for companies of similar size in India.
Management Team Tenure

Average tenure of the Onward Technologies management team in years:

1.5
Average Tenure
  • The average tenure for the Onward Technologies management team is less than 2 years, this suggests a new team.
Management Team

Harish Mehta

TITLE
Executive Chairman
COMPENSATION
₹17M
AGE
70

Jigar Mehta

TITLE
MD & Director
COMPENSATION
₹8M
AGE
38
TENURE
2.9 yrs

M. V. S. Narayanacharyulu

TITLE
Chief Financial Officer
TENURE
1.5 yrs

Dimple Chauhan

TITLE
Company Secretary & Compliance Officer
TENURE
0.3 yrs

B. Kaustubhan

TITLE
Executive Vice President

Sudhir Badamikar

TITLE
Executive
Board of Directors Tenure

Average tenure and age of the Onward Technologies board of directors in years:

2.9
Average Tenure
46
Average Age
  • The average tenure for the Onward Technologies board of directors is less than 3 years, this suggests a new board.
Board of Directors

Harish Mehta

TITLE
Executive Chairman
COMPENSATION
₹17M
AGE
70
TENURE
2.9 yrs

Jigar Mehta

TITLE
MD & Director
COMPENSATION
₹8M
AGE
38
TENURE
2.9 yrs

Pranay Vakil

TITLE
Independent Director
COMPENSATION
₹385K
AGE
71
TENURE
6.3 yrs

Nandu Pradhan

TITLE
Independent Director
COMPENSATION
₹390K
AGE
62
TENURE
6.3 yrs

Parish Meghani

TITLE
Independent Director
COMPENSATION
₹530K
AGE
45
TENURE
1.9 yrs

Prachi Mehta

TITLE
Women Director
COMPENSATION
₹320K
AGE
40
TENURE
4.1 yrs

Rahul Rathi

TITLE
Independent Director
COMPENSATION
₹515K
AGE
46
TENURE
2 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Onward Technologies insiders in the past 3 months.
Show me more companies with insider buying in the IT industry
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
09. Apr 19 Buy Onward Network Technologies Private Limited Company 04. Apr 19 04. Apr 19 3,500 ₹70.63 ₹247,212
04. Apr 19 Buy Onward Network Technologies Private Limited Company 03. Apr 19 03. Apr 19 15,000 ₹71.13 ₹1,066,997
03. Apr 19 Buy Onward Network Technologies Private Limited Company 03. Apr 19 03. Apr 19 20,000 ₹72.46 ₹1,449,101
02. Apr 19 Buy Onward Network Technologies Private Limited Company 01. Apr 19 01. Apr 19 25,000 ₹70.79 ₹1,769,653
01. Apr 19 Buy Onward Network Technologies Private Limited Company 29. Mar 19 29. Mar 19 15,000 ₹67.49 ₹1,012,313
18. Feb 19 Buy Yogesh Desai Individual 02. Jan 19 15. Feb 19 18,650 ₹62.64 ₹1,102,354
11. Dec 18 Buy Yogesh Desai Individual 07. Dec 18 10. Dec 18 5,200 ₹54.89 ₹282,942
14. Dec 18 Buy Yogesh Desai Individual 11. Dec 18 11. Dec 18 600 ₹54.12 ₹32,471
07. Dec 18 Buy Yogesh Desai Individual 27. Nov 18 06. Dec 18 24,200 ₹54.65 ₹1,305,572
12. Oct 18 Buy Jigar Mehta Individual 10. Oct 18 10. Oct 18 5,000 ₹56.64 ₹283,220
10. Oct 18 Buy Jigar Mehta Individual 09. Oct 18 09. Oct 18 20,000 ₹54.65 ₹1,093,061
10. Oct 18 Buy Onward Network Technologies Private Limited Company 08. Oct 18 08. Oct 18 52,000 ₹58.18 ₹3,025,120
09. Oct 18 Buy Onward Network Technologies Private Limited Company 04. Oct 18 05. Oct 18 35,000 ₹64.86 ₹2,250,480
04. Oct 18 Buy Onward Network Technologies Private Limited Company 01. Oct 18 04. Oct 18 50,000 ₹68.09 ₹3,357,977
03. Oct 18 Buy Onward Network Technologies Private Limited Company 28. Sep 18 28. Sep 18 51,000 ₹64.44 ₹3,286,217
28. Sep 18 Buy Onward Network Technologies Private Limited Company 26. Sep 18 27. Sep 18 45,000 ₹73.19 ₹3,186,072
27. Sep 18 Buy Onward Network Technologies Private Limited Company 24. Sep 18 25. Sep 18 50,000 ₹72.15 ₹3,582,866
24. Sep 18 Buy Onward Network Technologies Private Limited Company 19. Sep 18 21. Sep 18 32,000 ₹72.09 ₹2,285,213
18. Sep 18 Buy Onward Network Technologies Private Limited Company 14. Sep 18 14. Sep 18 5,000 ₹70.04 ₹350,200
13. Sep 18 Buy Onward Network Technologies Private Limited Company 11. Sep 18 12. Sep 18 6,000 ₹70.24 ₹420,133
11. Sep 18 Buy Onward Network Technologies Private Limited Company 07. Sep 18 10. Sep 18 4,000 ₹70.05 ₹279,508
07. Sep 18 Buy Onward Network Technologies Private Limited Company 05. Sep 18 06. Sep 18 25,000 ₹68.80 ₹1,717,106
06. Sep 18 Buy Onward Network Technologies Private Limited Company 04. Sep 18 04. Sep 18 5,000 ₹69.42 ₹347,088
04. Sep 18 Buy Onward Network Technologies Private Limited Company 31. Aug 18 03. Sep 18 27,500 ₹69.22 ₹1,898,125
31. Aug 18 Buy Onward Network Technologies Private Limited Company 30. Aug 18 30. Aug 18 17,468 ₹68.94 ₹1,204,232
30. Aug 18 Buy Onward Network Technologies Private Limited Company 27. Aug 18 29. Aug 18 63,000 ₹70.46 ₹4,359,917
27. Aug 18 Buy Onward Network Technologies Private Limited Company 16. Aug 18 24. Aug 18 75,000 ₹70.10 ₹5,242,129
13. Jul 18 Buy Onward Network Technologies Private Limited Company 09. Jul 18 12. Jul 18 6,015 ₹72.99 ₹436,580
09. Jul 18 Buy Onward Network Technologies Private Limited Company 05. Jul 18 06. Jul 18 3,818 ₹70.08 ₹267,045
02. Jul 18 Buy Onward Network Technologies Private Limited Company 29. Jun 18 29. Jun 18 1,000 ₹71.72 ₹71,725
28. Jun 18 Buy Jigar Mehta Individual 25. Jun 18 27. Jun 18 28,513 ₹81.46 ₹2,276,015
26. Jun 18 Buy Jigar Mehta Individual 20. Jun 18 21. Jun 18 5,000 ₹83.53 ₹416,334
14. Jun 18 Buy Jigar Mehta Individual 11. Jun 18 12. Jun 18 14,360 ₹87.37 ₹1,253,482
07. Jun 18 Buy Jigar Mehta Individual 04. Jun 18 06. Jun 18 18,225 ₹85.65 ₹1,554,299
29. May 18 Buy Jigar Mehta Individual 25. May 18 28. May 18 25,000 ₹87.57 ₹2,092,890
28. May 18 Buy Parish Meghani Individual 24. May 18 24. May 18 8,900 ₹78.20 ₹695,980
25. May 18 Buy Jigar Mehta Individual 24. May 18 24. May 18 20,000 ₹78.56 ₹1,571,284
24. May 18 Buy Parish Meghani Individual 22. May 18 23. May 18 18,600 ₹0.01 ₹152
24. May 18 Buy Jigar Mehta Individual 21. May 18 23. May 18 74,500 ₹77.51 ₹5,673,914
23. May 18 Buy Parish Meghani Individual 21. May 18 21. May 18 22,500 ₹75.41 ₹1,696,725
16. May 18 Buy Parish Meghani Individual 07. May 18 11. May 18 33,250 ₹89.90 ₹2,989,222
17. May 18 Buy Parish Meghani Individual 14. May 18 15. May 18 42,100 ₹89.66 ₹3,748,728
X
Management checks
We assess Onward Technologies's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
    5. Onward Technologies has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

As of April 2, 1998, operates as a subsidiary of DXC Technology Company.

Details
Name: Onward Technologies Limited
517536
Exchange: BSE
Founded: 1991
₹1,027,316,550
15,804,870
Website: http://www.onwardgroup.com
Address: Onward Technologies Limited
Sterling Centre,
2nd Floor,
Mumbai,
Maharashtra, 400018,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 517536 Equity Shares Mumbai Stock Exchange IN INR 02. Dec 1998
NSEI ONWARDTEC Equity Shares National Stock Exchange of India IN INR 02. Dec 1998
Number of employees
Current staff
Staff numbers
2,500
Onward Technologies employees.
Industry
IT Consulting and Other Services
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/22 12:38
End of day share price update: 2019/04/22 00:00
Last estimates confirmation: 2018/05/14
Last earnings filing: 2018/10/26
Last earnings reported: 2018/09/30
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

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