Onward Technologies Q2 FY27 Results: Consolidated Net Profit ₹16.77 Crore on Total Income of ₹171 Crore

Earnings

Blacklitt Research16 October 20263 min read

A large open-plan office floor with rows of computer workstations — Petiatil, via Wikimedia Commons (public domain). Illustrative image.

Onward Technologies reported consolidated total income of ₹171.22 crore and net profit of ₹16.77 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹130.65 crore and net profit was ₹15.46 crore.

Key highlights

Consolidated

Including its subsidiaries

Total income: ₹171 crore, up 22.2% YoY, up 13.3% QoQ
Net profit: ₹16.77 crore, up 40.5% YoY, up 50.1% QoQ
EPS: ₹7.65, against ₹5.26 in Q2 FY26
Net profit margin: 9.79%, up from 8.52% a year earlier and 7.39% in June

Standalone

The company on its own, without its subsidiaries

Total income: ₹131 crore, up 18.7% YoY, up 13.8% QoQ
Net profit: ₹15.46 crore, up 50.1% YoY, up 67.3% QoQ
EPS: ₹7.05, against ₹4.54 in Q2 FY26
Net profit: up 67.3% QoQ to ₹15.46 crore, from ₹9.24 crore

Summary

Consolidated ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	171.22	140.10	+22.2%	151.16	+13.3%
Revenue from operations	170.18	138.97	+22.5%	149.43	+13.9%
Other income	1.04	1.13	-8.0%	1.73	-39.9%
	16.77	11.94	+40.5%	11.17	+50.1%
Finance costs	0.69	0.96	-28.1%	0.68	+1.5%
Depreciation	4.77	4.21	+13.3%	4.64	+2.8%
Tax expense	5.35	3.89	+37.5%	3.61	+48.2%
Net profit margin	9.79%	8.52%	+1.27 pp	7.39%	+2.40 pp
Tax as share of profit before tax	24.2%	24.6%	-0.39 pp	24.4%	-0.24 pp
EPS, basic (₹)	7.65	5.26	+45.4%	5.00	+53.0%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Profit grew faster than revenue because costs below the revenue line grew slowly. Revenue from operations rose 22.5% and net profit 40.5%, lifting the net margin to 9.79% from 8.52%. Finance costs fell 28.1% to ₹0.69 crore and depreciation grew 13.3% to ₹4.77 crore, both small against revenue, so the gain sits in operating costs, which the filing does not break down.

Tax of ₹5.35 crore is about 24% of profit before tax in all three periods, so it did not move the result. Earnings per share rose 45.4%, more than profit, which fits the company's share buyback: the tender closed on 29 May 2026 and the filing records the buyback and its costs as a financing outflow of ₹1,862.86 lakh.

For H1 FY27 revenue is ₹319.61 crore against ₹272.12 crore (+17.4%) and net profit ₹27.94 crore against ₹24.67 crore (+13.3%). Profit grew more slowly over the half than in the quarter because the June quarter, at ₹11.17 crore, was lower than a year earlier.

Standalone ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	130.65	110.07	+18.7%	114.77	+13.8%
Revenue from operations	128.93	108.25	+19.1%	112.08	+15.0%
Other income	1.72	1.82	-5.5%	2.69	-36.1%
	15.46	10.30	+50.1%	9.24	+67.3%
Finance costs	0.76	1.09	-30.3%	0.76	0.0%
Depreciation	4.89	4.45	+9.9%	4.78	+2.3%
Tax expense	5.29	3.52	+50.3%	3.21	+64.8%
Net profit margin	11.83%	9.36%	+2.48 pp	8.05%	+3.78 pp
Tax as share of profit before tax	25.5%	25.5%	+0.02 pp	25.8%	-0.31 pp
EPS, basic (₹)	7.05	4.54	+55.3%	4.14	+70.3%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

The parent makes most of the group's profit. Standalone net profit of ₹15.46 crore is 92% of the consolidated ₹16.77 crore (derived), and the standalone margin of 11.83% is higher than the group's 9.79%, which means the subsidiaries together run at lower margins.

Standalone profit rose 50.1% against a 19.1% rise in revenue, and tax was 25.5% of profit before tax in both periods. The notes disclose a matter as a contingent liability with no provision made in the results, and the comparison columns carry an exceptional item from the previous year; neither affects this quarter's figures.

Inference

Onward's profit growth this quarter comes from operating costs growing more slowly than revenue, and the buyback adds to per-share growth.

Over the half year profit grew 13.3% against revenue of 17.4%, so the quarter's margin gain is not yet a half-year one.

Reference: Original filing (PDF)

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Onward Technologies Q2 FY27 Results: Consolidated Net Profit ₹16.77 Crore on Total Income of ₹171 Crore

Key highlights

Consolidated

Standalone

Summary

Inference

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