Zetwerk H1 FY27 Revenue Up 33% to ₹8,717 Cr; Order Book Hits ₹14,595 Cr
Zetwerk's H1 FY27 revenue grew 33% to ₹8,717 crore, with Adjusted EBITDA up 69% to ₹274 crore. The Manufacturing order book reached an all-time high of ₹14,595 crore, up 67% YoY. Q2 FY27 saw revenue rise 18% YoY to ₹4,599 crore, and Adjusted PBT turned positive at ₹28 crore.
The announcement details significant financial performance improvements, record order book levels, and positive shifts in profitability. These are material developments that are likely to have a substantial impact on investor perception and the company's valuation.
The company reported strong year-over-year growth in revenue, gross profit, and adjusted EBITDA, along with a significant increase in its order book. Key financial metrics improved, and the company turned profitable on an adjusted PBT basis in Q2 FY27, indicating positive business momentum.
Zetwerk Manufacturing Businesses Limited (ZETWERK) announced strong financial results for the first half of fiscal year 2027 (H1 FY27), ending September 30, 2026. Revenue from operations grew 33% year-over-year (YoY) to ₹8,717 crore. Gross profit increased by 42% YoY to ₹1,187 crore, with gross margin improving to 13.6% from 12.8% due to a better revenue mix.
Adjusted EBITDA saw a significant 69% YoY growth to ₹274 crore, with the margin expanding to 3.1% from 2.5%. This growth was driven by higher gross margins, particularly in the Manufacturing segment, which saw margins rise to 24.5% from 20.9% in H1 FY26. This improvement is attributed to a better product mix, increased share of international customers, and in-house manufacturing.
The company secured new orders worth ₹7,760 crore in H1 FY27, a 48% increase YoY, bringing the total Manufacturing order book to an all-time high of ₹14,595 crore, up 67% YoY. Repeat customers accounted for 83% of H1 revenue.
For the second quarter of fiscal year 2027 (Q2 FY27), revenue from operations grew 18% YoY and 12% sequentially to ₹4,599 crore. Adjusted EBITDA for Q2 FY27 stood at ₹171 crore, up 66% QoQ and 31% YoY. Adjusted profit before tax (PBT) turned positive at ₹28 crore in Q2 FY27, compared to a loss of ₹12 crore in Q1 FY27. The net loss for the quarter also reduced sharply to ₹88 crore from ₹733 crore in Q1 FY27.
The Manufacturing segment remains a key growth driver, with revenue up 20% YoY to ₹4,448 crore in H1 FY27. Segment EBITDA grew 37% to ₹336 crore. Within this segment, Energy revenue grew 23% YoY to ₹2,836 crore, and Precision revenue grew 34% to ₹980 crore, with its order book increasing by 80% since March 2026 to ₹2,698 crore.
Zetwerk's operational network includes 6,979 third-party suppliers across 26 countries and 26 owned manufacturing facilities in India, the US, Spain, and Germany. The company leverages its proprietary technology backbone, Zetwerk OS, to integrate its supplier network and own facilities into a 'universal factory'.
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