Zetwerk touches Rs 4,600 Cr revenue threshold in Q2 FY27

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Bengaluru-based manufacturing platform Zetwerk reported an 18.3% year-on-year increase in revenue in Q2 FY27, steered by growth across its manufacturing and ecosystem businesses. However, rising operating costs pushed its net loss higher during the quarter, almost a month after its stock market debut in the last half of October 2026.
Zetwerk’s revenue from operations increased to Rs 4,599 crore in Q2 FY27, compared with Rs 3,889 crore in the corresponding quarter last year, according to its financial statements filed with the NSE.
Founded in 2017 by Amrit Acharya and Srinath Ramakkrushnan, Zetwerk operates a technology-led manufacturing platform that connects businesses with manufacturers and suppliers across sectors such as electronics, energy, aerospace, defence and industrial automation.
Its manufacturing business contributed Rs 2,546.5 crore, accounting for 55.4% of operating revenue during the quarter. This represented a 14.9% increase from Rs 2,217 crore in Q2 FY26. Meanwhile, the ecosystem business grew 22.8% to Rs 2,053 crore from Rs 1,672 crore.
The firm also reported Rs 54 crore in other income, pushing its total income to Rs 4,653 crore in Q2 FY27 from Rs 3,937 crore in the year-ago period.
The increase in business scale was accompanied by higher expenses. The cost of materials consumed, Zetwerk’s largest expense component, increased 16.1% to Rs 3,909 crore in Q2 FY27. Employee benefit expenses increased 51.8% to Rs 236 crore, while finance costs rose 32.4% to Rs 132.42 crore.
Depreciation expenses increased 34.5% to Rs 64.55 crore during the quarter. Other expenses also climbed 39.8% to Rs 348 crore from Rs 249 crore in the corresponding period last year. Consequently, total expenses rose 19.6% to Rs 4,689 crore from Rs 3,920 crore.
Zetwerk’s net loss widened 43.1% year-on-year to Rs 88 crore in Q2 FY27, compared with Rs 61.5 crore in the same quarter last year. However, its adjusted EBITDA surged 69% to Rs 274 crore, according to the company’s press release.
For the first half of FY27, the firm reported a 33.3% increase in revenue from operations to Rs 8,717 crore, compared with Rs 6,539 crore in H1 FY26.
According to the company, its manufacturing order book grew 67% year-on-year in Q2 FY27. Zetwerk secured new orders worth Rs 4,613 crore during the quarter, up 44% YoY, while order wins in H1 FY27 stood at Rs 7,760 crore, marking a 48% increase. The company said its order book typically converts into revenue over a period of around two years.
Zetwerk made its stock market debut on October 23, 2026, with its shares listing at Rs 159.25 on the NSE, a 5.5% premium over the IPO issue price of Rs 151 per share. The company had raised Rs 2,251 crore from anchor investors ahead of its public issue, which comprised a fresh issue of Rs 2,830 crore and an offer for sale of up to 14.45 crore shares.

document fetched 2026-11-14 03:05