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Indian platform making custom industrial equipment and components for corporates through partner suppliers and its own factories.
Indian platform making custom industrial equipment and components for corporates through partner suppliers and its own factories.
Takes custom orders for equipment such as power gear and electronics, has them built by partner factories or its own plants, and bills customers for the finished goods. Co-founders Amrit Acharya and Srinath Ramakkrushnan are the promoters. Its October 2026 listing mixed new shares with a sale by existing holders; its proceeds go mainly to repay debt and fund subsidiaries and acquisitions.
In one line: Xometry-style marketplace plus a Flex-style contract manufacturer.
Moat: narrow (network effects, scale). Large supplier network and order-management skills help, but buyers can re-tender each project.
Headquarters: Bengaluru, India · Founded: 2018 · Employees: 3,554
Size Zetwerk Manufacturing Businesses (ZETWERK.NS) is an India Industrials company (Metal Fabrication) with a market value of $2.96B, the 286th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹164.89 on 6 Nov 2026.
Growth Revenue grew 40.5% over the last twelve months (peer median +19.2%); the operating margin is 0.9% (peer median 9.6%).
Valuation It trades at 1.8× enterprise value to sales against a peer median of 2.5× (7th cheapest of 21).
Capital Return on invested capital runs 12.0 points below its cost of capital (14.4% WACC).
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | n/a | ₹159B | ₹113B | ₹123B |
| Revenue growth | — | +40% | -8% | — |
| Gross profit | n/a | ₹7.98B | ₹5.39B | ₹1.88B |
| EBITDA | n/a | ₹3.47B | ₹1.98B | -₹4.43B |
| Net income | n/a | -₹16.3B | -₹3.66B | -₹9.19B |
| Free cash flow | n/a | -₹13.0B | -₹8.25B | -₹8.02B |
| Capital expenditure | n/a | ₹2.85B | ₹1.95B | ₹3.54B |
| Total debt | n/a | ₹23.4B | ₹20.0B | ₹14.0B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Zetwerk Manufacturing Businesses ZETWERK.NS | $2.96B | n/a | +40% | 1% | 1.8× | n/a |
| Kaynes Technology India KAYNES.NS | $2.30B | -26% | +35% | 12% | 5.6× | n/a |
| Dixon Technologies (India) DIXON.NS | $8.16B | +14% | +21% | 2% | 1.3× | 48.0% |
| Larsen & Toubro LT.NS | $59.8B | +2% | +11% | 8% | 2.1× | 29.7% |
| Xometry XMTR | $6.63B | +44% | +37% | -2% | 7.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ZETWERK.NS | Peer median | Rank in peer set |
|---|---|---|---|
| Revenue growth (TTM) | +40.5% | +19.2% | 4th highest of 21 |
| Operating margin | 0.9% | 9.6% | lowest of 21 |
| EV / Sales | 1.8× | 2.5× | 7th cheapest of 21 |
| ROIC minus cost of capital | -12.0 pp | +0.3 pp | 3rd lowest of 21 |
| Net debt / EBITDA | -0.7× | 0.3× | 3rd least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zetwerk Manufacturing Businesses ZETWERK.NS | India | $2.96B | n/a | +40% | 1% | 1.8× | n/a | n/a |
| Zhejiang XCC 603667.SS | China | $2.99B | -20% | -15% | 2% | 6.8× | 47.9% | +13.9% |
| Shaanxi Sirui Advanced Materials 688102.SS | China | $2.99B | -39% | +38% | 11% | 9.7× | n/a | n/a |
| Avic Heavy Machinery 600765.SS | China | $2.84B | -23% | -13% | 4% | 2.5× | n/a | n/a |
| Tolerance Technology (Jiangsu) 301583.SZ | China | $2.82B | n/a | +18% | 15% | 25.1× | n/a | n/a |
| Sinomach Precision Industry 002046.SZ | China | $3.47B | -17% | -1% | 4% | 8.3× | n/a | n/a |
| Jyoti Cnc Automation JYOTICNC.NS | India | $2.45B | +32% | +18% | 21% | 10.5× | n/a | n/a |
| Bossard BOSN.SW | Switzerland | $2.42B | +55% | +7% | 11% | 2.1× | 5.9% | +5.6% |
| Endurance Technologies ENDURANCE.NS | India | $3.71B | -1% | +32% | 8% | 2.1× | 29.9% | +17.6% |
| Maruichi Steel Tube 5463.T | Japan | $2.32B | +5% | -2% | 14% | 1.1× | -2.7% | +8.6% |
| Taihan Cable & Solution 001440.KS | South Korea | $2.31B | -70% | +22% | 5% | 0.9× | n/a | n/a |
| Anhui Honglu Steel Construction (Group) 002541.SZ | China | $2.30B | +4% | +12% | 5% | 1.2× | 3.8% | +10.4% |
| Shyam Metalics & Energy SHYAMMETL.NS | India | $3.84B | +47% | +26% | 9% | 1.8× | n/a | n/a |
| Zhejiang Changsheng Sliding Bearings 300718.SZ | China | $2.25B | -29% | +20% | 21% | 9.9× | 16.5% | +14.1% |
| PTC Industries PTCIL.NS | India | $4.09B | +45% | +95% | 19% | 55.5× | n/a | n/a |
| Lizhong Sitong Light Alloys 300428.SZ | China | $2.14B | -3% | +24% | 4% | 0.6× | n/a | n/a |
| NBTM New Materials 600114.SS | China | $2.14B | -40% | +6% | 9% | 2.5× | 13.8% | +13.0% |
| Hengdian Group DMEGC Magnetics 002056.SZ | China | $4.16B | -9% | +3% | 7% | 1.2× | n/a | n/a |
| POCO 300811.SZ | China | $4.24B | -15% | +48% | 24% | 11.1× | n/a | n/a |
| Hebei Huatong Wires and Cables 605196.SS | China | $1.94B | -41% | +49% | 10% | 1.6× | n/a | n/a |
| JL Mag Rare-Earth 300748.SZ | China | $4.54B | -27% | +39% | 11% | 3.4× | 22.1% | +26.1% |