NSE: NETWEB · BSE: 543945
NETWEB TECH INDIA LTD
Designs and manufactures high-end computing systems in India, organised around three product pillars — AI systems, High Performance Computing (HPC) and Private Cloud — that together generated Q1 FY27 revenue of ₹819.7 cr (+172% YoY) at a 14.7% operating EBITDA margin. The AI segment made up 62% of Q1 FY27 revenue at ₹510.6 cr (+484% YoY), while HPC and Private Cloud contributed ₹125.3 cr and ₹135.3 cr respectively. The business is positioned under India's NSM 2.0 'build and design in India' framework and supplies sovereign AI compute infrastructure for the India AI Mission, defence and other domestic customers. Materials accounted for 78.6% of FY26 revenue, reflecting an OEM cost structure built on bought-out components such as GPUs and memory. Inventory days were deliberately raised to 110 to hedge component scarcity, and net debt stood at ₹200 cr in Q1 FY27. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. AI systems (62%), High Performance Computing (HPC), Private Cloud (Tyron). Hardware OEM assembling high-end compute systems with a hardware-dominant cost structure and inventory-led working capital.
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 724 | 1,149 | 2,184 |
| EBITDA (ex other income) | 103 | 160 | 285 |
| margin % | 14.2 | 13.9 | 13.0 |
| Owners' profit | 76 | 114 | 206 |
| EPS, as reported (₹) | 13.91 | 20.25 | 36.30 |
| ROE % · ROCE % | 18.0 · 25.0 | 21.6 · 29.3 | 28.5 · 39.3 |
| Debt / equity (x) | 0.00 | 0.00 | 0.38 |
| Cash from operations | 18 | (13) | 171 |
| Capex | (19) | (25) | (12) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 251 | 334 | 415 | 301 | 304 | 805 | 774 | 820 |
| Profit before tax | 34 | 41 | 58 | 42 | 42 | 98 | 95 | 114 |
| Net profit | 26 | 30 | 43 | 30 | 31 | 73 | 71 | 85 |
| EPS (₹) | 4.56 | 5.38 | 7.57 | 5.38 | 5.55 | 12.94 | 12.43 | 14.98 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| L&T TECHNOLOGY SER. LTD. | 44,149 | 33.4 | 6.80 | 20.4 | 19.7 | 21.1 | 15.1 | 19.6 |
| INVENTURUS KNOWLEDGE SO L | 29,130 | 37.4 | 10.40 | 26.5 | 25.8 | 27.7 | — | 33.6 |
| TATA TECHNOLOGIES LIMITED | 26,718 | 48.0 | 6.81 | 29.0 | 13.9 | 14.3 | — | 18.3 |
| NETWEB TECH INDIA LTD ◆ | 24,780 | 94.8 | 34.26 | — | 28.5 | 37.5 | — | 15.7 |
| SAGILITY LIMITED | 21,553 | 21.7 | 2.23 | 12.2 | 9.6 | 11.6 | — | 22.3 |
| AFFLE 3I LIMITED | 19,072 | 39.9 | 5.22 | 26.0 | 12.5 | 15.2 | 39.3 | 25.8 |
| BLACK BOX LIMITED | 14,377 | 61.6 | 11.17 | 28.6 | 16.9 | 9.5 | 6.2 | 8.4 |
| CYIENT LIMITED | 13,177 | 34.6 | 2.14 | 11.9 | 7.5 | 9.7 | 12.0 | 13.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 94.8 | 17.5 | 69 of 76 | 9% |
| P/B | 34.3 | 2.2 | 70 of 70 | 0% |
| ROCE | 37.5 | 9.6 | 4 of 86 | 97% |
| ROE | 28.5 | 9.2 | 4 of 70 | 96% |
| Debt / Equity | 0.4 | 0.0 | 66 of 70 | 6% |
| EBITDA margin | 15.7 | 13.0 | 29 of 69 | 59% |
| Revenue growth | 172.1 | 20.8 | 5 of 67 | 94% |
| Profit growth | 179.9 | 14.6 | 6 of 64 | 92% |
| Market cap | 24780 | 296 | 4 of 87 | 97% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · QIP proceeds used as planned; Rs 4,255.76 million remained unutilised | compliance | minimal | — | — |
| 26 Oct 2026 · Netweb uploads audio recording of Q2 FY27 earnings call | investor communications | low | — | — |
| 25 Oct 2026 · Netweb quarterly results: revenue up 27%, profit down 23% year on year | compliance | minimal | — | — |
| 24 Oct 2026 · Netweb presents H1 FY27 results and ₹111,518 mn sales pipeline | investor communications | medium | — | — |
| 24 Oct 2026 · Record Q2 FY27 revenue and PAT; order book reaches ₹26,290 million | investor communications | medium | — | — |
| 24 Oct 2026 · Board approves proposed wholly owned subsidiary in Taiwan | strategic transactions | medium | — | — |
| 24 Oct 2026 · Netweb Q2 FY27 revenue rises 336 percent, profit rises 335 percent | compliance | low | — | — |
| 24 Oct 2026 · Netweb approves September 2026 results and plans Taiwan subsidiary | results | high | — | — |
| 20 Oct 2026 · Netweb Technologies Q2FY27 results call on October 26, 2026 | board shareholder meetings | low | — | — |
| 17 Oct 2026 · Board meeting on Oct 24 to consider Q2 and H1FY26 results | results | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.