Netweb Technologies India (NETWEB) Q2 26/27 earnings summary

Executive summary

• Record Q2 FY27 revenue of INR 13,232.79 million and net income of INR 1,366.56 million; H1 net income of INR 2,219.79 million exceeded FY26 full-year net income of INR 2,058 million.

• AI infrastructure demand drove rapid growth, with HPC and private cloud adding to the growth portfolio.

• The statutory auditor’s limited review found no matter indicating material misstatement or non-compliance with applicable reporting requirements.

Financial highlights

• Q2 revenue rose 335.7% YoY to INR 13,232.79 million; operating EBITDA increased 334.0% to INR 1,973 million, with a 14.9% margin.

• Q2 PBT grew 334.6% YoY to INR 1,826.49 million; net income rose 334.8% to INR 1,366.56 million, with a 10.2% margin.

• H1 revenue increased 254.2% YoY to INR 21,429.65 million; operating EBITDA rose 257.7% to INR 3,230 million and net income grew 258.5% to INR 2,219.79 million.

• Q2 diluted EPS was INR 23.54, up 324.2% YoY; H1 diluted EPS was INR 38.60, up 253.3%.

Outlook and guidance

• Management targets FY27 revenue of INR 4,000 crore and reiterated 30%–40% CAGR growth for the next few years.

• At Sep. 30, 2026, the order book was INR 26,290 million, L1 positions were INR 6,525 million, and the active pipeline was INR 111,518 million, excluding L1 and order book.

• Standard order execution takes 10–16 weeks; the cash conversion cycle is expected to remain within 90–110 days.

• Vera Rubin system design is underway, with commercial offerings planned from January and launch timing intended to align with global timelines.

• NSM 2.0 is expected to roll out over five years; management is targeting more than half of its outlay and cited local manufacturing and indigenization criteria.