India's leading Indian-owned OEM that designs, manufactures and deploys high-end computing, AI GPU and private-cloud systems.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,323 | +335.2% YoY | Quarterly, as filed | Quarter to Sept 2026 | Revenue from operations as filed. |
| Operating margin | 15.0 | 0.0 pts YoY | Operating profit / revenue | Quarter to Sept 2026 | For the quarter; a change is in percentage points. |
| Net profit | 137 | +341.9% YoY | Quarterly, as filed | Quarter to Sept 2026 | Profit after tax as filed. |
| Return on equity | 17.40 | +9.1 pts | Trailing twelve months | TTM to Sept 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 35.71 | +38.8 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 174.89 | +31.4 pts | Trailing twelve months | TTM to Sept 2026 | Revenue change against the same period one year earlier. |
Guidance
4 of 5 judged targets kept · 12 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Export Revenue Share | maintain 5-7% contribution in the future. | Q4 FY25 | No update provided on export revenue share. | Ghosted |
| Revenue Growth CAGR (Organic) | 35% to 40% CAGR in top line growth over the next couple of years. | Q4 FY25 | Management stopped segregating 'strategic' orders, merging them into normal business. Overall revenue growth of 172.1% YoY massively outpaces the organic guidance, keeping the promise on track despite the change in reporting. | On Track |
| Operating EBITDA Margin | 13% to 14% for upcoming fiscal year (FY26). | Q4 FY25 | Full year FY26 EBITDA margin was 13.05% (₹284.8cr / ₹2183.6cr), falling within the guided 13-14% range. | Achieved |
1 of Netweb Technologies India Limited's 17 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 14 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹3,717.1 on 24 Oct 2025 → ₹4,286. High ₹5,601 (21 Aug 2026), low ₹3,024.1 (2 Jan 2026).
Overview
Based on the company's own presentations, annual report and earnings calls.
Netweb Technologies designs, manufactures and deploys High-end Computing Solutions (HCS) — supercomputing/HPC clusters, Gen-AI GPU systems, private cloud and hyperconverged infrastructure, data-centre servers and enterprise storage — under OEM technology partnerships with Nvidia, AMD, Intel and Samsung. It is one of a few OEMs manufacturing this IT hardware domestically at scale in India under the 'Make in India' programme, serving government, PSU, defence, academic/research and large-enterprise customers. Its systems have been deployed at national institutions such as ISRO and C-DAC and have repeatedly featured in the world's Top500 supercomputer rankings.
Segments
close before → close after
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Guidance
4 of 5 judged targets kept · 12 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Export Revenue Share | maintain 5-7% contribution in the future. | Q4 FY25 | No update provided on export revenue share. | Ghosted |
| Revenue Growth CAGR (Organic) | 35% to 40% CAGR in top line growth over the next couple of years. | Q4 FY25 | Management stopped segregating 'strategic' orders, merging them into normal business. Overall revenue growth of 172.1% YoY massively outpaces the organic guidance, keeping the promise on track despite the change in reporting. | On Track |
| Operating EBITDA Margin | 13% to 14% for upcoming fiscal year (FY26). | Q4 FY25 | Full year FY26 EBITDA margin was 13.05% (₹284.8cr / ₹2183.6cr), falling within the guided 13-14% range. | Achieved |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 17 tracked commitments, with each call’s wording and source.
Call summaries
Netweb Technologies India Limited Q1 FY27
Netweb Technologies reported a record-breaking Q1 FY27 with revenue up 172.1% YoY to ₹8,197 million and PAT up 179.9% YoY to ₹853 million. The AI segment was a significant growth driver, contributing 62% of revenue with 484% YoY growth. The company maintains a robust order book and pipeline, providing strong business visibility, but saw an increase in inventory days to secure key inputs.
Read the full callNetweb Technol. Q4 FY26
Netweb Technologies delivered a landmark FY26 with 90% YoY revenue growth and 80.9% YoY PAT growth, significantly driven by its AI segment. The company enters FY27 with a robust order book of INR 2,400 crores and a pipeline of INR 4,400 crores, guiding for 35-40% organic revenue growth and 13-14% EBITDA margins. While inventory days increased due to strategic stock-up, the company maintains a net debt-free position and strong liquidity.
Read the full callNetweb Technologies India Limited Q3 FY26
Netweb Technologies reported a record-breaking Q3 FY26, achieving its highest ever income and profit with revenue growing 141% YoY to ₹804.9 crores and PAT increasing 146.7% YoY to ₹73.3 crores. This performance was driven by the successful execution of a large strategic AI order worth ₹450.4 crores. The company maintains a robust order book of ₹2259.4 crores and remains a zero net debt entity, despite facing margin compression on strategic orders and global supply chain challenges for memory components.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
Net profit, year on year: +342% (quarter to sept 2026 against sept 2025).
| Line item | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 334 | 415 | 301 | 304 | 805 | 774 | 820 | 1,323 |
| Expenses | 291 | 355 | 256 | 258 | 707 | 677 | 699 | 1,126 |
| Operating profit | 43 | 59 | 45 | 45 | 98 | 97 | 121 | 197 |
| Operating margin | 13.0% | 14.0% | 15.0% | 15.0% | 12.0% | 12.0% | 15.0% | 15.0% |
| Other income | 2 | 2 | 1 | 1 | 7 | 10 | 8 | 13 |
| Interest | 1 | 1 | 1 | 1 | 3 | 8 | 12 | 24 |
| Depreciation | 3 | 3 | 3 | 3 | 4 | 4 | 3 | 4 |
| Profit before tax | 40 | 57 | 42 | 42 | 98 | 95 | 114 | 183 |
| Tax rate | 26.0% | 26.0% | 27.0% | 25.0% | 25.0% | 26.0% | 25.0% | 25.0% |
| Net profit | 30 | 43 | 30 | 31 | 73 | 71 | 85 | 137 |
| EPS (₹ per share) | 5.27 | 7.52 | 5.38 | 5.55 | 12.94 | 12.40 | 14.98 | 22.99 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 445 | 724 | 1,149 | 2,184 |
| Expenses | 375 | 621 | 991 | 1,898 |
| Operating profit | 68 | 102 | 158 | 285 |
| Other income | 1 | 12 | 10 | 19 |
| Interest | 4 | 7 | 4 | 13 |
| Depreciation | 4 | 6 | 11 | 14 |
| Profit before tax | 63 | 102 | 152 | 277 |
| Net profit | 48 | 76 | 114 | 205 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 | Sept 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 10 | 11 | 11 | 11 | 11 | 12 |
| Reserves | 83 | 411 | 518 | 567 | 712 | 2,092 |
| Borrowings | 36 | 10 | 8 | 18 | 282 | 333 |
| Other liabilities | 137 | 180 | 355 | 463 | 1,249 | 1,630 |
| Total liabilities | 266 | 612 | 892 | 1,060 | 2,255 | 4,067 |
| Fixed assets | 23 | 44 | 49 | 50 | 58 | 61 |
| Capital work in progress | 2 | 1 | 7 | 8 | 2 | 1 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 241 | 568 | 836 | 1,001 | 2,196 | 4,005 |
| Total assets | 266 | 612 | 892 | 1,060 | 2,255 | 4,067 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | -10 | 5 | 27 | 18 | -13 | 790 |
| Cash from investing | -2 | -5 | -14 | -145 | 112 | -216 |
| Cash from financing | 12 | 0 | -8 | 209 | -18 | 240 |
| Net cash flow | 0 | 0 | 5 | 83 | 80 | 814 |
| Free cash flow | -11 | 0 | 14 | 0 | -36 | 779 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 143 | 115 | 124 | 93 | 115 | 112 |
| Inventory days | 100 | 75 | 61 | 77 | 91 | 170 |
| Days payable | 146 | 104 | 116 | 85 | 123 | 161 |
| Cash conversion cycle | 97 | 86 | 69 | 85 | 83 | 121 |
| Working capital days | 55 | 58 | 55 | 80 | 92 | 14 |
| Return on capital employed | 36.0% | 52.0% | 64.0% | 38.0% | 32.0% | 37.0% |
| Dividend payout | 0.0% | 0.0% | 5.0% | 15.0% | 12.0% | 8.0% |
To justify its price of ₹4286, this stock must grow earnings at 39% every year for 7 years. Our analysis caps realistic growth at ~59%. At that growth it is worth ₹10236 — upside of 139%.
Ownership
Promoters hold 64.16% as of Sept 2026; institutions added 1.51 pts since Jun 2026.
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 5 holders trimming and 2 off the list — both are in the register beside this.
Named in the Sep 2026 filing
Every holder of Netweb Technologies India Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 25.46% | −1.12 pp | |
| 12.82% | −0.57 pp | |
| 12.82% | −0.57 pp | |
| 12.82% | −0.57 pp | |
| 3.02% | newly disclosed | |
| Mutual fund | 1.17% | −0.06 pp |
| 0.08% | unchanged | |
| 0.08% | unchanged | |
| 0.08% | unchanged | |
| Mutual fund | — | off the list |
| Endowment | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Filings to Sep 2026
0 new, 5 added, 1 trimmed, 0 sold out — net +0.00 L shares (+0.3%).
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Innovation Fund HDFC Mutual Fund | ₹47 Cr | held | Aug '26 |
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹14 Cr | +0.00 L | Sep '24 |
| SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund | ₹7 Cr | +0.00 L | Sep '24 |
| Nippon India Nifty 500 Momentum 50 Index Fund Nippon India Mutual Fund | ₹6 Cr | +0.00 L | Jun '26 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | −0.00 L | Sep '24 |
| SBI Nifty 500 Index Fund SBI Mutual Fund | ₹0 Cr | +0.00 L | Sep '24 |
| SBI Nifty Small Cap 250 ETF SBI Mutual Fund | ₹0 Cr | +0.00 L | May '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Sep 2026
5 added, 1 trimmed — net +454 shares (+0.3%)
Shares held by these funds −70%
Oct '23 1.67 L shares Sep '26
Your own record
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