Netweb Technologies India Ltd(NETWEB)

NSE: NETWEBBSE: 543945

₹ 4,284.9-1.18%refreshed 26 Oct, 03:52 pm ISTMarket cap: ₹ 25,473 crWebsite: www.netwebindia.comUpdated: 25 Oct 2026

About

Netweb Technologies India Ltd designs and manufactures high-end computing solutions under the Tyrone brand, spanning HPC/supercomputing, AI Systems, Private Cloud, and high-performance storage. In FY26 the company reported revenue from operations of ₹21,836 Mn (+90% YoY), making it India's only HPC OEM and the deployer of AIRAWAT, India's largest AI supercomputer. Netweb holds a position as India's largest OEM in high-end computing solutions and has deployed systems that have cumulatively appeared 17 times in the global top-500 supercomputer list.^[1]

Business segments

AI Systems contributed 62.29% of revenue at ₹5,105.70 Mn in Q1 FY27, growing 484.20% YoY, up from 43.4% of total operating revenue in FY26.^[2]
AI Systems revenue was 9,477.9 in FY26 vs 1,693.8 in FY25, up 459.6% (Rs million).^[3]
High-Performance Computing revenue was 5,307.5 in FY26 vs 4,054.9 in FY25, up 30.9%; Private Cloud & HCI was 5,169.7 vs 4,026.5, up 28.4% (Rs million).^[3]
Software Services and Spare & Others 1,232.0 in FY26 vs 1,008.1 in FY25; HPS Solutions 327.7 vs 274.7; Data Centre Servers 320.8 vs 372.8, down 14.0% (Rs million).^[3]
AI Systems revenue mix in Q3 FY26 was 64.2% (elevated by a single strategic order of ₹4,503.9 Mn); for 9M FY26 the mix was 47.6%.^[4]

Products and brands

All products are sold under the Tyrone brand, covering HPC/supercomputing systems, AI GPU systems, Private Cloud and HCI, high-performance storage, data-centre servers, and software and services.^[3]
Netweb deployed AIRAWAT, India's largest and fastest AI supercomputer, ranked 75th globally in 2023, and received an order to deploy AI infrastructure of over 5,000 GPUs for India's foundational LLM.^[3]
Under its NVIDIA OEM partnership, Netweb has a roadmap to design and manufacture AI GPU systems based on the NVIDIA Blackwell platform.^[1]
New product launches in FY26 included Tyrone Camarero Spark (AI edge), Tyrone Camarero GB200, Tyrone ParallelStor VELOX, and Skylus.ai AI orchestration utility.^[1]

Operations and facilities

Netweb operates two manufacturing plants and sixteen offices nationally (18 locations total), with R&D centres in Faridabad, Gurugram, Bengaluru, and Hyderabad.^[3]
A 15,000 sq ft facility to produce and test dense GPU-based AI systems, with new SMT lines, was commissioned in FY26; it supports liquid cooling and rack density beyond 150 kW per rack.^[3][1]
The existing facility is sized to support revenues above ₹3,000 Cr; no significant capex is planned for FY27 beyond routine spend of ~₹20 - 25 Cr.^[1]
R&D team comprised 110 professionals as of June 30, 2026, 19.33% of the workforce; headcount has grown from 240 at IPO to 600+.^[3]
Inputs sourced directly from within India fell to 30.13% in FY26 from 42.97% in FY25.^[3]
Manufacturing facilities are certified under ISO 9001:2015, ISO 14001:2015 and ISO/IEC 27001:2013; servers and storage hold BIS certification.^[3]

Key operating numbers

Order book stood at ₹25,069.35 Mn with L1 of ₹8,480.47 Mn and pipeline of ₹104,100 Mn as of June 30, 2026, vs order book of ₹20,976.0 Mn, L1 of ₹3,278 Mn and pipeline of ₹44,315 Mn at the start of FY27.^[2][3]
About 40 - 45% of the order book was AI-related as of June 30, 2026.^[2]
Cumulatively deployed: 600+ supercomputing systems, 60+ Private Cloud and HCI installations, and 10,000+ accelerator/GPU-based AI systems.^[3]
Inventory days rose to 110 days in Q1 FY27 from 86 days in March 2026, reflecting stockpiling of key AI compute components.^[2]

Customers and distribution

Netweb serves 2,460 customers spanning Government & Defence, education, new-age financial services, IT & ITES, media & entertainment, telecom, and cloud services.^[3]
The company deals mainly with government authorities and agencies; three customers each contributed 10% or more of revenue in FY26 vs two in FY25.^[3]
Top-10 customer concentration was 64.46% and top-5 was 50.34% in Q1 FY27.^[2]
Repeat customer revenue was 98.92% in Q1 FY27 vs 81.20% in FY25; 302 customers have been with the company for over six years, and 131 new clients were added in FY26.^[2]
Sales to dealers and distributors rose to 28.80% of sales in FY26 from 4.91% in FY25.^[3]
Exports contributed 1.40% of revenue in FY26 vs 5.5% in FY25.^[3][5]

Partnerships and intellectual property

Netweb holds 17 registered and applied patents and designs, and 18 registered trademarks as of FY26.^[3]
Technology partnerships with NVIDIA, AMD, Intel, Samsung and Vertiv provide access to component roadmaps and priority allocation of GPUs and advanced semiconductors.^[3]
The company is eligible under the PLI 2.0 scheme for IT hardware (servers), valid from FY24 to FY29.^[3]

Expansion and new initiatives

FY26 annual report plans cover NSM 2.0 pre-exascale/exascale systems, physical AI, quantum simulation and gradual international expansion.^[3]
R&D has started in quantum simulators and emulators with institutions, research hubs and start-ups as partners; no revenue guidance given.^[2]
Physical AI R&D targets defence, national security and strategic manufacturing applications; no revenue guidance given.^[2]
An enabling resolution for an equity or debt raise of up to ₹1,200 Cr is valid to July 2027, for working-capital funding only.^[2]

Recent developments

CRISIL upgraded the company's rating to A+/Stable from A/Stable, as disclosed in the FY26 annual report.^[3]
In Q2 FY26, Netweb secured two large strategic orders worth ~₹21,840 Mn related to India's AI Mission, with execution targeted by FY27.^[6]
The FY26 annual report names periodic shortages of GPUs and advanced AI accelerators, and dependence on a few large customers, as risks.^[3]

Market Cap

₹25,473 Cr

High / Low

₹5,810 / 2,942

Stock P/E

94.7

Price / Book

34.2

Book Value

₹127

EPS

₹36.1

No. of Shares

5.69 Cr

ROCE

37.6%

ROE

32.8%

OPM

13.1%

Debt / Equity

0.38

Sales

₹2,184 Cr

Net Profit

₹206 Cr

Promoter holding

64.2%

Loading chart…

Signal history

AI Deep Dive

The analysis Screener can't give you

Our models read the latest earnings call, annual report, and financials end-to-end - then grade management, value the business, and flag the risks. Unlock all of it for this company:

Verdict
The headline call - descriptive label, conviction, and the synthesis behind it.
Valuation
Guidance-anchored P&L bridge - worst / average / best multiple cases.
Walk the talk
Did management deliver on past guidance? A commitment-by-commitment scorecard.
Red flags
Forensic and governance risk pointers, severity-ranked.
Balance sheet
Solvency and earnings-quality score.
Concall briefs
Quarter-by-quarter earnings-call briefs - what changed and why.

₹49 unlocks this company for 90 days, ₹299 for a full year - bundles bring it lower. Built on public disclosures - educational, not investment advice.

AI Deep Dive

Verdict

Locked

The headline call - descriptive label, conviction, and the synthesis behind it.

Company data

Financials