O'Grady advanced at the head of his troops as soon as the French appeared, and presented so bold a front that, after a time, they retired.
He took his troop at a gallop through the town, rejoining Sir William Dörnberg, who had drawn up the main body of the regiment on the sloping road at the Waterloo end of Genappe.
A severe cavalry combat ensued when the French lancers reached the top of the town, in which O'Grady's regiment made a gallant charge, with considerable loss.
We charged twelve or fourteen times, and once cut off a squadron of cuirassiers, every man of whom we killed on the spot except the two officers and one Marshal de Logis, whom I sent to the rear.
After Waterloo, he was promoted to captain, but was put into the reserves ("on half-pay") the next year, probably because his father wanted him to enter politics.
After the death of Thomas Lloyd in 1829, O'Grady was again returned for County Limerick on 2 February 1830, this time with the support of Daniel O'Connell.
His support was firm with his Catholic constituents by this stage but on 3 May his name was struck from the electoral return and replaced with that of James Dawson, previously the MP for Clonmel.