Onward Technologies, Multibagger MNC stock, hits Upper Circuit of 20%

Onward Technologies is an Indian multinational software technology outsourcing company specializing in digital and ER&D services, transportation & mobility, industrial equipment, heavy machinery, and healthcare & Med-Tech industries.

Harish Mehta has founded, led, grown, and mentored Onward across two generations as MD & Chairman. Having co-founded NASSCOM, he is credited for being the driving force behind galvanizing Indian IT industry. Mr. Mehta is the award-winning author of 2022’s National Bestseller, The Maverick Effect.

Onward Tech Consolidated September 2023 Net Sales at Rs 120.24 crore, up 9.2% Y-o-Y

Reported Consolidated quarterly numbers for Onward Technologies are:

Net Sales at Rs 120.24 crore in September 2023 up 9.2% from Rs. 110.11 crore in September 2022.

Quarterly Net Profit at Rs. 9.57 crore in September 2023 up 1552.53% from Rs. 0.58 crore in September 2022.

EBITDA stands at Rs. 16.43 crore in September 2023 up 294% from Rs. 4.17 crore in September 2022.

The stock has been a multibagger with a return of 111.9% YoY and 1105% in 5 years. Today, the stock hit the upper circuit of 20%. The stock of Onward Tech is a good buy on dips because it has a good futuristic business model.

The price target of Onward Technologies is about 50% more on a yearly basis according to a research report of foreign brokers CLSA and Citibank.

Download Pdf of research report on : Not Available

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