Debasis Mohapatra
Bengaluru, 14 November 2026
Zetwerk, the B2B manufacturing company operating in high-value aerospace, defence, electronics, capital goods and others, widened its second quarter of FY27 losses to Rs 88.1 crore.
The company posted a loss of Rs 61.6 crore in the corresponding quarter of last fiscal year.
Operating revenue grew 18.3% year-on-year basis to Rs 4,599.4 crore from Rs 3,889.3 crore reported in Q2 FY26.
However, the company’s adjusted EBITDA grew faster than revenue due to operating leverage kicking in, the company said. During Q2 of FY27, adjusted EBITDA grew 31% over the same period of last fiscal year.
Manufacturing segment remained the major growth driver of Zetwerk with revenue growing by 34% on sequential basis with better EBITDA margins. Revenue from manufacturing segment stood at Rs 2,546 crore during Q2 of FY27.
By the end of first half of FY27 (H1FY27), order book of the company was at Rs 14,595 crore, which was a record for the new-age company.
Out of the total order book, 64% came from energy, 22% from precision and 14% contributed by capital goods.
Revenue from ecosystem vertical stood at Rs 2,053 crore, which was a de-growth of 7% on sequential basis.
“Order Backlog is growing faster than revenue. We are a supply constrained business. We need to increase capacity through our network via partners (3rd party) and captive (first party),” the company said in its investor presentation on its plans going forward.
The company also indicated that traditionally H2 (second half) had been better than H1 in terms of revenue growth.
Zetwerk recently listed on the exchanges with a decent debut on listing. Its share price closed at Rs 183.39 on NSE on Friday (Nov 13, 2026).
