Results · Enterprise Software & IT

Zetwerk estimates FY26 revenue at Rs 15,900 crore

By Startup Enthusiast · 15 June 2026

What they do

Zetwerk is a technology-led manufacturing platform that connects customers with suppliers across sectors

It expects FY26 operating revenue of Rs 15,900 crore, up 24% from Rs 12,800 crore in FY25

The company filed for an IPO in March 2026 to raise up to Rs 4,200 crore

Zetwerk expects its FY26 operating revenue to be Rs 15,900 crore, a 24% increase from FY25.
In FY25, revenue fell 11% after the company exited non-profitable segments and wound down its civil infrastructure business.
Its order book exceeds Rs 12,000 crore as of March 2026, expected to be executed over 12–18 months.
The company serves over 1,000 customers through a network of more than 5,000 suppliers.
Zetwerk serves over 1,000 customers through a network of more than 5,000 suppliers.
CRISIL reaffirmed an A-/Negative rating on Zetwerk, citing low margins, high working capital needs, and execution risks.
The company has acquired nine companies including joint ventures to expand product offerings and deepen customer relationships.

The revenue growth signals a recovery after a dip in FY25 caused by exiting unprofitable segments.
The large order book indicates strong demand across sectors like energy, electronics, and aerospace.
The IPO filing shows Zetwerk's ambition to raise public capital for further expansion.

Zetwerk is a technology-led, asset-light manufacturing platform that delivers diversified industrial products.
It operates six verticals: Energy, Electronics, Aerospace & Defence, Commodities, Capital Goods, and Precision Manufacturing.
The company serves 98 of India’s Fortune 500 companies, including NTPC Renewables Energy, Samsung India Electronics, NALCO, and ArcelorMittal Nippon Steel India.
It has 26 owned manufacturing facilities across 4 countries and works with 6,979 third-party suppliers in 26 countries.
Its proprietary digital backbone, Zetwerk OS, orchestrates manufacturing programs across global suppliers.
Customers are located across India, the US, and Europe.
The company makes money by managing the manufacturing process for clients, taking a margin on the products delivered.

Zetwerk plans to execute its order book of over Rs 12,000 crore over the next 12–18 months.
It is pursuing an IPO to raise up to Rs 4,200 crore, though the timeline is not specified.
The company may continue to make acquisitions to expand product offerings and customer relationships.

Product: B2B manufacturing startup
Customers: Manufacturers and enterprise buyers needing outsourced production
How it makes money: B2B contract manufacturing and manufacturing services fees
What sets it apart: Full-stack manufacturing platform across multiple sectors and geographies
Operations: Caters to industrial components, electronics, renewable energy equipment and consumer hardware