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Onward Technologies Q1 FY26 Profit Falls to ₹955.18 Cr

May 5, 2026 4 mins read Firehose Gupta

Onward Technologies Limited — Quarter ended March 31, 2026 (and year ended March 31, 2026)

Sr. No. Particulars Quarter ended March 31, 2026 Refer note 4 Quarter ended December 31, 2025 (Unaudited) Quarter ended March 31, 2025 Refer note 4 Year ended March 31, 2026 (Audited) Year ended March 31, 2025 (Audited)
1 Revenue from operations 13,711.54 13,461.73 12,728.77 54,385.24 49,131.61
2 Other income 192.44 152.38 269.43 704.23 721.31
3 Total Income (1+2) 13,903.98 13,614.11 12,998.20 55,089.47 49,852.92
4 Expenses
a) Employee benefits expense 10,202.18 9,799.32 9,801.28 39,582.25 38,011.83
b) Finance costs 71.33 71.11 53.32 289.05 222.25
c) Depreciation and amortisation expense 436.19 404.07 343.84 1,579.69 1,338.69
d) Other expenses 1,978.85 1,709.94 1,542.97 7,618.40 6,650.17
5 Total Expenses 12,688.55 11,984.44 11,741.41 49,069.39 46,222.94
5 Profit before exceptional items and tax (3-4) 1,215.43 1,629.67 1,256.79 6,020.08 3,629.98
6 Exceptional Items (Refer note 6) – 315.50 – 315.50 –
7 Profit before tax (5-6) 1,215.43 1,314.17 1,256.79 5,704.58 3,629.98
8 Tax expense
a) Current tax 282.43 372.25 254.15 1,440.72 1,040.15
b) Deferred tax (22.18) (68.28) (38.59) (168.53) (117.94)
9 Total tax expense/ (credits) 260.25 303.97 215.56 1,272.19 922.21
9 Net profit for the period/ year (7 – 8) 955.18 1,010.20 1,041.23 4,432.39 2,707.77
10 Other comprehensive income/(loss), net of income tax
a) i) items that will not be reclassified to profit or loss 198.96 (0.87) 14.01 75.18 (83.67)
ii) income tax relating to items that will not be reclassified to profit or loss (50.07) 0.22 (3.52) (18.92) 21.06
b) i) items that will be reclassified to profit or loss 259.61 59.38 (9.55) 470.88 45.14
ii) income tax relating to items that will be reclassified to profit or loss – – – – –
11 Total other comprehensive income/(loss), net of income tax 408.50 58.73 0.94 527.14 (17.47)
11 Total comprehensive income for the period/ year (9+10) 1,363.68 1,068.93 1,042.17 4,959.53 2,690.30
12 Net Profit attributable to:
a) Owners 955.18 1,010.20 1,041.23 4,432.39 2,707.77
b) Non-controlling interests – – – – –
13 Other comprehensive income/(loss) attributable to:
a) Owners 408.50 58.73 0.94 527.14 (17.47)
b) Non-controlling interests – – – – –
14 Total comprehensive income attributable to:
a) Owners 1,363.68 1,068.93 1,042.17 4,959.53 2,690.30
b) Non-controlling interests – – – – –
15 Paid-up equity share capital : (Face value INR 10 each) 2,244.42 2,243.33 2,268.56 2,244.42 2,268.56
16 Other equity – – – 23,106.28 20,161.54
17 Earnings per share (of INR 10 each) (Not annualised)
Basic: (in INR) 4.26 4.50 4.59 19.64 11.97
Diluted: (in INR) 4.23 4.47 4.56 19.52 11.81
Particulars Quarter ended March 31, 2026 Refer note 4 Quarter ended December 31, 2025 (Unaudited) Quarter ended March 31, 2025 Refer note 4 Year ended March 31, 2026 (Audited) Year ended March 31, 2025 (Audited)
Revenue from external customers
Within India
Particulars As at March 31, 2026 (Audited) As at March 31, 2025 (Audited)
ASSETS
Non-current assets
Property, plant and equipment 4,782.72 3,111.79
Capital work-in-progress 1.71 29.10
Right-of-use assets 3,732.53 3,138.94
Intangible assets 371.23 204.36
Intangible assets under development – 165.23
Financial assets
(a) Other financial assets 344.94 1,790.28
Deferred tax assets (net) 480.18 334.67
Income tax assets (net) 945.61 627.31
Other non-current assets 95.73 105.83
Total non-current assets 10,754.65 9,507.51
Current assets
Financial assets
(a) Trade receivables
– Billed 8,570.35 7,911.70
– Unbilled 3,429.35 3,029.65
(b) Cash and cash equivalents 3,685.66 2,434.46
(c) Bank balances other than cash and cash equivalents above 7,408.88 37.71
(d) Other financial assets 1,746.21 6,979.48
Other current assets 1,461.72 1,475.00
Total current assets 26,302.17 21,868.00
TOTAL ASSETS 37,056.82 31,375.51
EQUITY AND LIABILITIES
Equity
Equity share capital 2,244.42 2,268.56
Other equity 23,106.28 20,161.54
Total equity 25,350.70 22,430.10
LIABILITIES
Non-current liabilities
Financial liabilities
(a) Lease Liabilities 2,933.81 2,220.09
Provisions 1,276.35 756.57
Deferred tax liabilities (net) 315.80 320.82
Total non-current liabilities 4,525.96 3,297.48
Current liabilities
Financial liabilities
(a) Lease Liabilities 1,050.52 995.88
(b) Trade payables 1,192.23 929.71
(c) Other financial liabilities 3,742.95 2,571.33
Provisions 271.22 251.87
Income Tax Liabilities (net) 243.88 171.89
Other current liabilities 679.36 727.25
Total current liabilities 7,180.16 5,647.93
Total liabilities 11,706.12 8,945.41
TOTAL EQUITY AND LIABILITIES 37,056.82 31,375.51
Particulars Year Ended March 31, 2026 (Audited) Year Ended March 31, 2025 (Audited)
A) Cash flows from operating activities
Profit before income tax 5,704.58 3,629.98
Adjustments for
– Depreciation and amortisation expense 1,579.69 1,338.69
– (Profit)/loss on disposal of property, plant and equipment (3.58) (2.60)
– Interest income (536.02) (533.46)
– Unwinding of discount on security deposit (34.16) (31.34)
– Employee share based payment expenses 89.70 124.23
– Finance costs 289.05 222.25
– Net gain/(loss) on termination of lease arrangements 33.60 (36.44)
– Unrealised foreign exchange (gain)/loss 15.42 (9.51)
– Loss allowance/(utilisation) (75.20) 40.63
– Bad debts written off (Net of recoveries) 74.89 0.08
Operating profit before working capital changes 7,137.97 4,742.51
Working capital adjustments
(Increase)/Decrease in trade receivables and unbilled receivables (612.32) (873.39)
(Increase)/Decrease in other financial assets (34.96) (96.65)
(Increase)/Decrease in other assets 60.19 (533.17)
Increase/(Decrease) in trade payables 393.76 (336.37)
Increase/(Decrease) in other liabilities (47.89) 57.99
Increase/(Decrease) in other financial liabilities 692.41 549.34
Increase/(Decrease) in employee benefit obligations 618.04 256.84
Cash generated from/(used in) operations 8,207.20 3,767.10
Income taxes paid/(refund) (1,699.47) (614.80)
Net cash (outflow)/inflow from operating activities 6,507.73 3,152.30
B) Cash flows from investing activities
Purchase of property, plant and equipment (1,804.97) (237.73)
Purchase of intangible assets (106.10) (129.28)
Proceeds from sale of property, plant and equipment 6.50 5.27
Proceeds from fixed deposits 9,044.78 3,800.00
Fixed deposits placed (10,027.07) (5,609.71)
Interest received 728.52 453.72
Net cash (outflow)/inflow from investing activities (2,158.34) (1,717.73)
C) Cash flows from financing activities
Repayment of lease liabilities (1,004.98) (1,034.88)
Payments for shares purchased by Employee Welfare Trust (ESOP Trust) (1,006.47) –
Shares application money received for allotment of shares 13.66 32.50
Payment of Dividend (1,134.25) (1,119.54)
Net cash (outflow)/inflow from financing activities (3,132.04) (2,121.92)
Net increase / (decrease) in cash and cash equivalents (A+B+C) 1,217.35 (687.35)
Cash and cash equivalents at the beginning of the year/period 2,434.46 3,119.76
Effect of foreign exchange on cash and cash equivalents 33.85 2.05
Cash and cash equivalents at the end of the year 3,685.66 2,434.46
Reconciliation of cash and cash equivalents as per the cash flow statement:
Particulars As at March 31, 2026 As at March 31, 2025
Cash and cash equivalents 3,685.66 2,434.46
Balances as per statement of cash flows 3,685.66 2,434.46
Particulars As at March 31, 2026 (Audited) As at March 31, 2025 (Audited)
Sr. No. Particulars Quarter ended March 31, 2026 Refer note 3

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