Our unique business model enables us to serve multiple demand pools and makes us resilient across economic
cycles
Ability to scale in a capital-efficient manner.
Zetwerk OS, our proprietary technology enables end-to-end workflow management across the manufacturing
lifecycle while driving powerful network effects across our operations.
Deep relationships with customers driving higher revenue visibility and stickiness.
Ability to add value-additive ecosystem services to our manufacturing platform.
Experienced, cycle-tested management team backed by an experienced board of directors.
Comprehensive and institutionalised risk management framework with strong protection against external
risks.
The company incurred restated loss for the year from continuing operations of Rs.9,643.93 million, Rs.2,150.69 million and Rs.8,525.31
million for Fiscals 2026, 2025 and 2024, respectively, and certain of its Subsidiaries have incurred losses in the past.
Any similar losses in the future may adversely affect the company's business, financial condition and cash flows.
The company relies on third-party suppliers for manufacturing and raw materials, and exposure to price volatility, capacity and
quality issues, supply disruptions, and trade and foreign exchange risks could adversely affect the company's business, financial
condition, cash flows, results of operations and prospects.
The company is dependent on the performance of the industries its customers operates in, including renewables, artificial
intelligence infrastructure, oil & gas, consumer electronics, and defence & aerospace industries, and a downturn in any
of these industries could adversely affect the company's business.
The company's revenue from operations - continuing operations from India accounted for 82.54%, 79.41% and 75.43% and its
revenue from operations - continuing operations from the USA accounted for 14.33%, 19.09% and 21.54% of the company's
revenue from operations - continuing operations for Fiscals 2026, 2025 and 2024, respectively, each based on Ind AS
108 Operating Segments. Any adverse economic or regulatory changes that negatively affect the demand for its
products in India and the USA could adversely affect the company's business, financial condition, cash flows and results of
operations.
The company's top 10 suppliers contributed to 38.18%, 39.59% and 36.87% of its total expenses for continuing operations for the
Fiscals 2026, 2025 and 2024, respectively. Any disruption in the supply or quality from these suppliers could adversely
affect the company's business, results of operations, financial condition, cash flows, and reputation.
The company's statutory auditors have included certain emphasis of matters and modifications under the section "Report on Other
Legal and Regulatory Requirements" in their auditor reports in the Fiscals 2026, 2025 and 2024.
The company's top 10 customers accounted for 35.90%, 26.89% and 22.37% of its revenue from operations - continuing
operations for the Fiscals 2026, 2025 and 2024, respectively. If the company fails to retain or expand its network of customers
the company's business, financial condition, cash flows and results of operations may be adversely affected.
The company is subject to strict performance and quality requirements. Defects, perceived defects, or failures to meet customer
specifications, whether attributable to the company or its suppliers, could result in order cancellations, recalls, liability, and
reputational harm.
The company has manufacturing facilities in India, Spain, the USA and Germany. Any adverse changes in economic or
regulatory conditions affecting its supply chains in these jurisdictions could negatively affect the company's results of operations.
The company does not have firm, long-term purchase commitments with many of its customers and the company's revenue visibility, capacity
utilisation and margins may be adversely affected by order reductions, cancellations or delays.
