Netweb Technologies India

“Actually, NSM 2.0 is basically since we are definitely targeting a good percentage, actually, more than half of it we should be targeting actually, but it will not come as in one go because basically, that's a 5-year program.”

“I cannot give a guidance on the guidance. My guidance stands where it is.”

“As on September 30, 2026, our order book stood at INR2,629 crores with an additional L1 position of INR653 crores, providing strong revenue visibility for the coming quarters.”

“It was INR2,500 crores last quarter. It is INR2,600 crores. If you add the -- basically the L1, it would be around INR3,100 crores, INR3,200 crores approximately, which is a substantially large order book.”

“It can lie from somewhere between INR5 crores to basically maybe INR1,000 crores actually.”

“Basically, it depends -- it is 10 to 16 weeks.”

“Yes, you are right.”

“AI systems remained our primary growth driver, contributing INR773 crores or 58.4% of revenue from operations, registering a growth of 1,068.1% year-on-year.”

“Very good observation, sir, your observation is absolutely correct.”

“HPC and private cloud also delivered robust performance, contributing INR248 crores and INR245 crores, respectively, highlighting the strength of our diversified growth portfolio.”

“So if you see, we had been adding our new customers. We added 449 new customers in this H1.”

“And even these top 10 and top 5 customers is not -- these are not a static customers. There is a pool of 25, 30 customers, which keeps on changing.”

“And basically, it's no more primarily AI is a government play. The private demand is also -- enterprise demand is also very heavy.”

“And definitely, if you ask me in today's order pipeline, I can only tell you that maybe enterprise will be more than the government at this point of time.”

“And this is definitely going to result into more pipeline addition for us.”

“So gross margin becomes a game of different deal mix, which cannot be judged on a quarter-on-quarter basis.”

“So there is obviously a leverage which comes in when we do large deals. And that's why the company has showcased operating EBITDA margins to remain around 14%.”

“And I think we will do -- we guide on EBITDA, so we still well in line on EBITDA.”

“If you see, we have grown by 120 plus employee strength as compared to last year's quarter headcount.”

“there was not significant ESOP cost because the tranche which we had given at the time of -- before the IPO, they got vested fully last year itself.”

“We achieved a zero net debt position during the quarter with net cash position of INR14 crores as of September 2026. In addition, the company had approximately INR403 crores unutilized from the QIP proceeds.”

“Our cash conversion cycle stood at 94 days with receivable days improving to 62 days, while inventory days stood at 117 days.”

“The relatively higher inventory levels are intentional and reflect our preparation for executing the order book of approximately INR2,629 crores as of September '26.”

“So yes, if you talk about last year, it was 84 days, the cash conversion cycle. It has gone up because in this year, we had been doing the efforts on the inventory days, considering the large order book we have in hand.”

“Yes, yes. So this inventory actually is to support the order book only. And yes, there will be churning from this inventory definitely.”

“The quarter also marked a significant milestone in our journey, where we successfully raised INR1,200 crores through our first capital raise since listing in July 2023.”

“Coming to the utilization of QIP proceeds, we had utilized INR767 crores of the proceeds as of September 2026.”

“Further strengthening our focus on technology development, our Board has also approved the establishment of a wholly owned subsidiary of Netweb in Taiwan for advancing our R&D efforts.”

“So getting resources sometimes in India becomes a challenge actually on the hardware side of it. So that's the reason the primary purpose is to have more -- to hire more manpower so that basically they can be available locally in Taiwan.”

“So we will be planning to basically start offering this product to be sold to the customers by January. So we'll see if we can pull in the timelines.”

“In quantum computing, we have commenced R&D on quantum simulators and emulators and are engaging with institutions hubs and start-ups across ecosystem.”

“And as a result of it, very soon, we'll be having first Vera Rubin system set up in the country very soon at our facility.”

“the memory prices have gone up by 200% or maybe even more than that. But do you think that has impacted the demand? That has not impacted the demand.”

“I personally don't feel there are any fundamental issues with the AI demand or something.”

“But my personal view is that there definitely cost of capital and all those things basically can really will go up because the demand will go up, but that will not deter the demand.”

“In Q2 financial year '27, revenue from operations grew at a rate of 335.7% year-on-year to INR1,323 crores.”

“Operating EBITDA increased 334% year-on-year to INR197 crores with a margin of 14.9%, whereas PAT rose 334.8% year-on-year to INR137 crores, translating into a margin of 10.2%.”

“Revenue from operations for Q2 FY27 stood at INR1,323 crores, registering a year-on-year growth of 335.7% and a quarter-on-quarter growth of 61.4%”

“H1 financial year '27 PAT reached INR222 crores, surpassing our full year financial year '26 PAT of INR206 crores in just 6 months.”

“Our return on equity and return on capital employed stood at 31.4% and 38.6%, respectively. These ratios reflect the impact of QIP proceeds on our capital base.”