Zetwerk nears Rs 16,000 Cr gross revenue in FY26; EBITDA stands at Rs 457 Cr

B2B e-commerce unicorn Zetwerk, which just lately filed its UDRHP to boost Rs 2,600 crore by way of a contemporary concern, staged a robust restoration in its working scale in FY26. After reporting an over 8% decline in gross income in FY25, the corporate’s GMV rebounded greater than 40% to almost Rs 16,000 crore in FY26, supported by sturdy development throughout its core companies. The corporate additionally reported a constructive EBITDA of Rs 457 crore through the yr.

Zetwerk’s gross income surged over 40% year-on-year to Rs 15,913 crore in FY26 from Rs 11,332 crore in FY25, in response to its consolidated monetary statements sourced from its up to date draft crimson herring prospectus (UDRHP).

Zetwerk is a B2B manufacturing and building market that derives income primarily from buying and selling manufacturing merchandise, manufacturing providers, and building and mission contracts. Income from the sale of merchandise, which accounted for 90% of its whole earnings, rose 38% to Rs 14,367 crore in FY26.

Revenue from building and mission contracts jumped 81% year-on-year to Rs 1,403 crore, whereas income from providers stood at Rs 138 crore through the interval.

By trade, Zetwerk operates throughout vitality, electronics, aerospace, precision manufacturing, capital items and different segments. Vitality merchandise accounted for 41% of its whole working earnings, rising 87% to Rs 6,508 crore in FY26. Precision manufacturing and capital items contributed Rs 1,397 crore and Rs 1,464 crore, respectively. Its ecosystem enterprise contributed one other Rs 6,539 crore through the yr.

By geography, India remained Zetwerk’s main market, contributing over 82% of its enterprise in FY26. The US accounted for 14.3%, whereas the remaining share got here from different worldwide markets.

Together with non-operating earnings of Rs 187 crore, Zetwerk’s whole earnings stood at Rs 16,100 crore in FY26, in comparison with Rs 11,492 crore in FY25.

On the expense facet, materials prices accounted for over 86% of Zetwerk’s whole bills. The associated fee rose 40% to Rs 13,983 crore in FY26 from Rs 9,965 crore in FY25. Worker profit bills elevated 35% to Rs 644 crore, together with Rs 87 crore of ESOP price. 

In the meantime, subcontracting bills grew 51% to Rs 229 crore.Finance prices stood at Rs 366 crore, whereas freight bills greater than tripled to Rs 254 crore. Authorized {and professional} charges, journey, depreciation and amortisation, and different bills took the corporate’s whole bills to Rs 16,142 crore in FY26 from Rs 11,552 crore in FY25.

The corporate’s loss earlier than tax and distinctive objects narrowed 33% to Rs 81 crore in FY26 from Rs 121 crore in FY25, because the sturdy rebound in income coupled with rise in different earnings, helped enhance its working efficiency and offset the rise in bills.

Caveat: Now we have excluded distinctive features/losses arising from adjustments within the truthful worth of sure shareholders’ diluted holdings and different objects associated to affiliate entities. Now we have additionally excluded distinctive losses from discontinued operations.

Together with distinctive losses, the corporate’s losses stood at Rs 1,606 crore in FY26 in comparison with Rs 371 crore loss in FY25.

Nevertheless, Zetwerk reported a constructive EBITDA of Rs 457 crore in FY26, with an EBITDA margin of two.87%. Its ROCE stood at 4.3% through the yr.

On the stability sheet entrance, Zetwerk’s money and financial institution balances elevated to Rs 2,448 crore in FY26 from Rs 1,908 crore a yr earlier. The corporate had present property value Rs 9,841 crore as of FY26.

Zetwerk’s IPO submitting comes amid a broader push by India’s B2B commerce startups to faucet the general public markets. Whereas Zetwerk has filed its UDRHP to boost Rs 2,600 crore by way of a contemporary concern, Infra.Market is pursuing a public itemizing by way of a reverse merger with Shalimar Paints. OfBusiness can also be anticipated to discover a public market debut.