Onward Technologies Declares Q1 FY25 Financial Results, Operating Cash Flow at Record High

Onward Technologies, a microcap IT software company, has recently declared its financial results for the quarter ending March 2024. The company’s stock has been given a ‘Hold’ call by MarketsMOJO.

According to the financials, Onward Technologies has seen a flat performance in the quarter, with a score of -1 compared to 2 in the previous quarter. However, there are some positive aspects to the company’s financials. The operating cash flow for the year has been the highest at Rs 62.35 crore and has shown growth in the last three years. This indicates that the company has been able to generate higher cash revenues from its business operations. Additionally, the debtors turnover ratio for the last five half-yearly periods has been the highest at 6.42 times, showing that the company has been able to settle its debtors faster.

On the other hand, there are some areas of concern in the financials. The profit before tax less other income (PBT) for the quarter has fallen by -39.82% year on year, indicating a negative trend in the near term. Similarly, the profit after tax (PAT) for the half-yearly period has also shown a negative trend, with a growth of -24.01% year on year.

Overall, Onward Technologies has shown a mixed performance in the quarter ending March 2024. Investors are advised to hold their stock and keep an eye on the company’s future financial results.