Bengaluru-based Zetwerk Q2 FY27 revenue increased 18.3% year-on-year (YoY) from operations to Rs 4,599 crore, supported by growth across its manufacturing and ecosystem businesses. However, higher operating expenses weighed on profitability, widening the company's net loss by 43.1% to Rs 88 crore.

Key Highlights:

• Zetwerk Q2 FY27 revenue increased 18.3% to Rs 4,599 crore, supported by growth in manufacturing and ecosystem businesses.
• Net loss widened 43.1% to Rs 88 crore, while the manufacturing order book grew 67% year-on-year.

The financial performance comes less than a month after Zetwerk made its stock market debut on October 23, 2026. The company disclosed its quarterly results in financial statements filed with the National Stock Exchange (NSE).

Zetwerk Manufacturing Business Contributes 55% of Q2 Revenue

Zetwerk's manufacturing business generated Rs 2,546.5 crore in Q2 FY27, accounting for 55.4% of its operating revenue. The segment recorded 14.9% growth from Rs 2,217 crore in the corresponding quarter last year.

Revenue from the company's ecosystem business increased 22.8% to Rs 2,053 crore, compared with Rs 1,672 crore in Q2 FY26.

The company also reported Rs 54 crore in other income, taking its total income to Rs 4,653 crore during the quarter, up from Rs 3,937 crore in the year-ago period.

Founded in 2017 by Amrit Acharya and Srinath Ramakkrushnan, Zetwerk operates a technology-enabled manufacturing platform connecting businesses with manufacturers and suppliers. Its operations span sectors including electronics, energy, aerospace, defence and industrial automation.

Zetwerk Expenses Increase 19.6% in Q2 FY27

The growth in revenue was accompanied by an increase in operating costs. Zetwerk's total expenses rose 19.6% year-on-year to Rs 4,689 crore in Q2 FY27, compared with Rs 3,920 crore in the corresponding quarter last year.

The cost of materials consumed, the company's largest expense component, increased 16.1% to Rs 3,909 crore.

Employee benefit expenses climbed 51.8% to Rs 236 crore, while finance costs increased 32.4% to Rs 132.42 crore. Depreciation expenses rose 34.5% to Rs 64.55 crore.

Other expenses also increased 39.8% to Rs 348 crore from Rs 249 crore in Q2 FY26.

Zetwerk Net Loss Widens 43.1% to Rs 88 Crore

Higher expenses outpaced revenue growth during the quarter, resulting in a wider net loss. Zetwerk reported a net loss of Rs 88 crore in Q2 FY27, compared with Rs 61.5 crore in the same period last year, marking an increase of 43.1%.

For the first half of FY27, revenue from operations grew 33.3% to Rs 8,717 crore from Rs 6,539 crore in H1 FY26.

Zetwerk Order Book Grows 67% in Q2 FY27

Alongside its financial results, Zetwerk reported strong growth in its manufacturing order book. The company's manufacturing order book expanded 67% year-on-year in Q2 FY27.

It secured new orders worth Rs 4,613 crore during the quarter, an increase of 44% from the year-ago period. Order wins for the first half of FY27 stood at Rs 7,760 crore, up 48% year-on-year.

According to the company, its order book generally converts into revenue over a period of approximately two years. The growth in order wins therefore provides an indication of its future business pipeline, although actual revenue conversion will depend on project execution and delivery timelines.

Also Read: Zetwerk Shares List at 5% Premium, Fall Below IPO Price

Zetwerk Shares List at 5.5% Premium After IPO

Zetwerk IPO made its debut on October 23, 2026, with its shares listing at Rs 159.25 on the NSE, a 5.5% premium over the issue price of Rs 151 per share.

Ahead of the public issue, the company raised Rs 2,251 crore from anchor investors. Its IPO comprised a fresh issue of Rs 2,830 crore and an offer for sale of up to 14.45 crore shares.

The Q2 FY27 results provide an early look at Zetwerk's financial performance as a listed company, with revenue and order growth accompanied by higher expenses and an increase in losses.