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R=31 G=172 B=226 R=6 G=34 B=65 R=2 G=237 B=246 R=18 G=104 B=178 R=91 G=88 B=154 R=191 G=191 B=191 India’s Leading High-end Computing Solutions (HCS) Provider Q2’FY26 - Earnings Presentation BSE: 543945 | NSE: NETWEB | Bloomberg: NETWEB:IN November 2025
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About Netweb Technologies Key Investment Highlights Growth Drivers Annexure Quarterly Key Highlights Agenda
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R=31 G=172 B=226 R=6 G=34 B=65 R=2 G=237 B=246 R=18 G=104 B=178 R=91 G=88 B=154 R=191 G=191 B=191 Offers a full stack of product and solution suite with comprehensive capabilities in designing, developing, implementing and integrating high performance computing solutions Collaborates with marquee technology partners such as Nvidia, AMD, Intel & Samsung Develops indigenous technologies for compute, storage and software stack to deploy High-end Computing Solutions (HCS) to meet the rising computational demands of businesses, academia, PSUs, defense and research organizations One of the select OEMs in the world for design & manufacturing AI GPU Systems & Stack under OEM partnership with NVIDIA Compliant with the Government of India’s ‘Make in India’ initiative, and distinguished as one of the few OEMs in the country to consistently receive PLI benefits under the IT Hardware Policy of the GOI Established in 1999 with manufacturing facilities located in Delhi (NCR) and 18 offices located across India 6 1 2 3 4 5 About Netweb Technologies India’s leading Indian origin, owned and controlled OEM in the space of High-end Computing Solutions (HCS) 03 600+ 7,000+ Private cloud & HCI installations Supercomputers listed 15 times in the world's top 500 supercomputers60+ Supercomputing systems installed Note; 1: pib.gov.in. * September numbers are annualized Revenue from Operation: ₹ 3,037.2 Million Customers: Govt. (42.5%) vs Non-Govt. (57.5%) Op EBITDA Margin: 15.0% PAT Margin: 10.3% ROE*: 22.4% ROCE*: 30.2% Q2 FY26 FINANCIAL METRICS Business Tailwinds ►► Explosion of on-prem cloud infra across large enterprises and high data center demand in India ‘Make in India’ Policy & ‘PLI Scheme’ of the GOI ‘Make AI in India & Make AI work for India’ initiative of the GOI Increased supercomputing adoption across verticals Indigenous LLMs fueling AI demand GOI’s ₹103,000 million outlay for the IndiaAI Mission1 to establish the sovereign AI ecosystem in the country Accelerator / GPU based AI systems
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R=31 G=172 B=226 R=6 G=34 B=65 R=2 G=237 B=246 R=18 G=104 B=178 R=91 G=88 B=154 R=191 G=191 B=191 Snapshot of Our HCS Offerings India’s leading HCS provider with fully integrated design and manufacturing capabilities HCS High performance computing (Supercomputing / HPC) systems • Bespoke, and purpose-built specialized hardware designs and architecture • Cater to run complex algorithm & applications at scale Unique middleware and cluster suite Automated Cluster Management AI Systems • AI Systems - Advance and powerful AI systems based on latest Gen GPU architectures design & manufactured in India under OEM partnership with Nvidia & AMD Generative AIML &DL Confidential GPU Computing Built-in AI Utilities Unified Cloud tools Private cloud and hyperconverged infrastructure (HCI) • Private cloud and HCI offers hyper-converged capabilities i.e., combining compute, storage, and network' to build: Cloud Native Storage HCIHybrid & Multi Cloud Data Centre servers Cyber secure architecture Low rack space consumption High in-built Storage Wide accelerator support • Designed to reduce the complexity of managing critical and heavy workloads. High performance storage (HPS/Enterprise Storage) solutions • Centralized repository for business-critical information that provides data sharing, data protection across multiple computer systems Unified Storage Scalable to Exabytes High IOPs Storage Parallel File System Storage Software and services for HCS offerings • Cloud Managed Services – These are the partial or complete management and control of a client's cloud platform, including migration, maintenance, and optimization Cloud solutions Design & Deployment services AI, ML & deep learning as a service
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R=31 G=172 B=226 R=6 G=34 B=65 R=2 G=237 B=246 R=18 G=104 B=178 R=91 G=88 B=154 R=191 G=191 B=191 Management Commentary Sanjay Lodha, CMD We are pleased to share that the quarter has been exceptional for the company. We secured two large strategic orders worth approximately ₹21,840 Mn, to be executed by FY27, reaffirming our position as India’s largest OEM in high-end computing solutions. Operating income grew by over 50% year-on-year in H1 FY26, while Operating EBITDA increased by over 60%, delivering a healthy margin of 14.9%. PAT for the period stood at ₹619.1 Mn, up 49.5% YoY with a 10.2% margin; reflecting strong demand, disciplined execution, and the scalability of our business model. In Q2 FY26, operating income grew by 21.0% YoY to ₹3,037.2 Mn, while Operating EBITDA grew 25.1% YoY with a margin of 15.0%, marking another quarter of robust performance. The strategic orders won are of national significance, aimed at strengthening India’s AI compute infrastructure and advancing the vision of a Sovereign AI journey of the Nation. By delivering world-class AI infrastructure designed, engineered, and manufactured in India, we are helping build the nation’s sovereign compute capabilities, accelerating its emergence as a global AI powerhouse, enabling citizen- centric services, and moving closer to the vision of making India the AI factory of the world. Beyond these strategic orders, our organic growth in the AI segment has been equally strong. The segment’s revenue contribution rose from 14.7% in H1 FY25 to 25.4% in H1 FY26, reflecting an impressive 160.7% YoY growth. This performance underscores our steadfast commitment to in-house design and manufacturing of next- generation systems, fully compliant with the ‘Make in India’ vision, and our contribution to India’s emergence as a global hub for high-tech manufacturing. Netweb’s continued focus on its three growth pillars: HPC, Private Cloud, and AI Systems is enabling us to capitalize on the strong momentum across these segments. Supported by robust industry tailwinds, these core businesses position us as a technology leader in the HCS space. “ “
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R=31 G=172 B=226 R=6 G=34 B=65 R=2 G=237 B=246 R=18 G=104 B=178 R=91 G=88 B=154 R=191 G=191 B=191 Key Highlights Profit and Loss Summary Operating Income Operating EBITDA* PBT* PAT* Q2 FY26 3,037.2 454.6 420.3 314.3 Growth (YoY) 21.0% 25.1% 19.8% 20.1% Growth (QoQ) 0.8% 1.5% 1.0% 3.1% Margin 15.0% 13.8% 10.3% H1 FY26 6,049.4 903.2 836.3 619.1 Growth (YoY) 51.1% 60.6% 50.7% 49.5% Margin 14.9% 13.8% 10.2% ₹ in millions *Previous periods numbers have been changed in accordance with change in accounting policy for valuation of Raw Materials, Finished Goods and Work in Progress from First In First Out (FIFO) to moving weighted average cost method. The impact not material.
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R=31 G=172 B=226 R=6 G=34 B=65 R=2 G=237 B=246 R=18 G=104 B=178 R=91 G=88 B=154 R=191 G=191 B=191 Key Highlights (Cont.) Balance Sheet Summary ₹ in millions *September data are annualized. ^Previous periods numbers have been changed in accordance with change in accounting policy for valuation of Raw Materials, Finished Goods and Work in Progress from First In First Out (FIFO) to moving weighted average cost method. The impact not material. #Net Current Assets calculation excludes Short-term Borrowing, Short-term Lease Liability & Cash & Cash Equivalents as they are part of Net Debt. ; 1 Gross Fixed Asset Turnover Ratio excludes ROU, and calculated on average gross assets for the period; 2 Cash Conversion Cycle is based on Operating Income. Particulars Mar’25 Jun’25 Sep’25 Equity Share Capital 113.3 113.3 113.3 Other Equity^ 5,178.5 5,492.2 5,673.1 Net Worth^ 5,291.8 5,605.5 5,786.4 Borrowing 12.7 26.0 74.8 Lease Liabilities 66.8 115.3 105.0 Cash and Cash Equivalent 1,700.8 616.5 2,559.6 Net Debt (1,621.3) (475.2) (2,379.8) Net Fixed Assets 561.1 600.7 580.3 Net Current Assets#^ 3,023.7 4,456.6 2,787.6 Ratios Gross Fixed Asset Turnover Ratio1 22.3 20.5 20.3 Cash Conversion Cycle* 2^ 73 111 120 (0.31) (0.08) (0.41) Net Debt/ Equity^ Mar'25 Jun' 25 Sep' 25 23.9% 22.4% 22.4% ROE*^ Mar'25 Jun' 25 Sep' 25 32.4% 30.6% 30.2% ROCE*^ Mar'25 Jun' 25 Sep' 25 (1.02) (0.27) (1.32) Net Debt/ Op. EBITDA*^ Mar'25 Jun' 25 Sep' 25
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R=31 G=172 B=226 R=6 G=34 B=65 R=2 G=237 B=246 R=18 G=104 B=178 R=91 G=88 B=154 R=191 G=191 B=191 Key Highlights (Cont.) Revenue breakup – HCS Offering 1,728 2,624 4,055 1,795 FY23 FY24 FY25 H1FY26 High performance computing (Supercomputing / HPC) systems Software and services for HCS offeringsData Centre servers AI Systems High performance storage (HPS/Enterprise Storage) solutions 1,461 2,644 4,027 2,043 FY23 FY24 FY25 H1FY26 309 799 1,694 1,536 FY23 FY24 FY25 H1FY26 308 339 275 126 FY23 FY24 FY25 H1FY26 283 337 373 132 FY23 FY24 FY25 H1FY26 95 176 455 224 FY23 FY24 FY25 H1FY26 H1FY26 – Revenue Breakdown by offerings ₹ in Millions ₹ in Millions 30% 34% 25% 2% 2% 4% 1% 3% Supercomputing / HPC Systems Private cloud & HCI AI Systems HPS solutions Data centre server Software & service for HCS offerings Network Switches Spare & others Private cloud and hyperconverged infrastructure (HCI)
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R=31 G=172 B=226 R=6 G=34 B=65 R=2 G=237 B=246 R=18 G=104 B=178 R=91 G=88 B=154 R=191 G=191 B=191 Revenue^ from Repeat Customers Customer Concentration^ 90.7% 69.0% 81.4% 74.7% FY23 FY24 FY25 H1FY26 57.8% 64.5% 65.8% 71.3% 47.1% 50.3% 50.8% 56.4% FY23 FY24 FY25 H1FY26 Top10 Top 5 Note: *CAGR FY20 –FY24, ^As a % of revenue from operations excludes other operating revenue Higher education and Research Space & Defence IT & ITES Others Diverse Customer Base 202 Repeat Customers (H1FY26) Associated for over 5.5 years using Fiscal 2016 as the base Average top 10 customer age (H1FY26) using Fiscal 2016 as base 4.2 Yrs 9.37% Customer Accretion CAGR* 61 New clients onboarded across diverse industries in H1FY26 Note: *CAGR FY20 –H1’FY26, ^As a % of revenue from operations excludes other operating revenue ; Key Highlights (Cont.)
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R=31 G=172 B=226 R=6 G=34 B=65 R=2 G=237 B=246 R=18 G=104 B=178 R=91 G=88 B=154 R=191 G=191 B=191 ₹ in millions 1. Diluted EPS; non-annualised Profit & Loss Summary *Previous periods numbers have been changed in accordance with change in accounting policy for valuation of Raw Materials, Finished Goods and Work in Progress from First In First Out (FIFO) to moving weighted average cost method. The impact not material. Particulars Q2 FY26 Q2 FY25 YoY(%) Q1 FY26 QoQ(%) H1 FY26 H1 FY25 YoY(%) FY25 Operating Income 3,037.2 2,510.6 21.0% 3,012.1 0.8% 6,049.4 4,003.8 51.1% 11,490.2 Operating EBITDA* 454.6 363.4 25.1% 448.0 1.5% 903.2 562.6 60.6% 1,590.4 Operating EBITDA Mrg (%)* 15.0% 14.5% 50 bps 14.9% 10 bps 14.9% 14.1% 88 bps 13.8% Other Income 9.2 20.5 (54.8%) 11.1 (16.4%) 19.8 57.4 (65.5%) 93.9 Finance Cost 9.3 6.6 41.6% 9.8 (4.9%) 19.1 14.3 33.2% 40.9 Depreciation 34.3 26.4 30.0% 33.2 3.3% 67.6 50.7 33.3% 113.4 PBT* 420.3 350.9 19.8% 416.1 1.0% 836.3 554.9 50.7% 1,530.0 PA T* 314.3 261.8 20.1% 304.8 3.1% 619.1 414.2 49.5% 1,137.5 PAT Margin (%) * 10.3% 10.3% (3 bps) 10.1% 24 bps 10.2% 10.2% 0 bps 9.8% EPS1 (₹)* 5.55 4.64 19.5% 5.38 3.1% 10.93 7.35 48.7% 20.11
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R=31 G=172 B=226 R=6 G=34 B=65 R=2 G=237 B=246 R=18 G=104 B=178 R=91 G=88 B=154 R=191 G=191 B=191 Track record of financial performance and consistent growth 5 Key Investment Highlights Experienced Board & Senior Management Team 6 Long standing relationship with a marquee and diverse customer base 4 Significant product development and innovation through R&D 3 India’s leading Indian origin owned and controlled OEM for HCS with integrated design and manufacturing capabilities 1 Operates in a rapidly evolving and technologically advanced industry with high entry barriers 2
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R=31 G=172 B=226 R=6 G=34 B=65 R=2 G=237 B=246 R=18 G=104 B=178 R=91 G=88 B=154 R=191 G=191 B=191 Opportunities to realize sustainable growth of the business Growth drivers # Pipeline excludes L1, L1 excludes Order Book, all figures are as on 30.09.25 • Introduced Skylus.ai, a unified solution to set up a GPU-based AI infrastructure on the go • Introducing unified data storage platforms for high throughput and high IOPS requirements with built in three-tier architecture • On-prem AI Sovereign cloud for demand of contemporary data & AI workloads • Container Platforms replacing Virtualization Platforms Expanding Product Portfolio • State of the art new manufacturing facility with latest Surface Mount Technology (SMT) commissioned in May’24 • AI native appliances with built-in GPU resource abstraction using Skylus.ai • Under our OEM partnership with NVIDIA, we have established a roadmap to design and develop AI GPU systems based on the world’s most advanced NVIDIA Blackwell platform. This will solidify Netweb's technological leadership in the AI domain • Launched Intel Emerald Rapids & AMD Turin based ‘Make in India’ high-end computing servers Enhanced Capabilties • Rising investments in Generative AI infra by Govt & Large enterprises, especially to cater to demand generated by indigenous LLMs • Heavy adoption of Private Cloud across sectors • Huge demand of high-end compute for booming in- bound data centers across India • Foray into Europe & Middle East, plan to setup service network in 4 countries to start with Enhanced Opportunities L1 # ₹ 3,480 Mn Pipeline# ₹ 42,043Mn Organic Order Book ₹ 4,939 Mn Strategic Big- Ticket Order ₹ 21,840 Mn Strong Topline Visibility
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R=31 G=172 B=226 R=6 G=34 B=65 R=2 G=237 B=246 R=18 G=104 B=178 R=91 G=88 B=154 R=191 G=191 B=191 Shareholding Pattern (September 2025) 71.00% 10.82% 3.57% 0.55% 14.07% Total Shareholding Promoter Group FIIs DII Body Corporate Others 37.29% 12.29% 1.90% 48.51% Non-Promoter Shareholding FIIs DII Body Corporate Others Key Institutional Shareholders Goldman Sachs Managed Funds ICICI Prudential Mutual Fund Pictet - Asian Equities Matthews Asia Funds Neurberger Berman Vanguard Total International Stock Index Fund The Regents Of The University Of California Tata Mutual Fund Nomura Funds iShares MSCI ETF (BlackRock) Eastspring Investments India Fund Bank of India Mutual Fund Union Mutual Fund
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R=31 G=172 B=226 R=6 G=34 B=65 R=2 G=237 B=246 R=18 G=104 B=178 R=91 G=88 B=154 R=191 G=191 B=191 Quarterly Key Highlights Note: All day’s calculation are based on Operating Income. Jun’25 and Sep’25 days are Annualized. Cash Conversion Cycle Break-up *Previous periods numbers have been changed in accordance with change in accounting policy for valuation of Raw Materials, Finished Goods and Work in Progress from First In First Out (FIFO) to moving weighted average cost method. The impact not material. Particulars Mar’25 Jun’25 Sep’25 Receivable Days 87 124 117 Inventory Days* 53 72 72 Payable Days (67) (84) (70) Cash Conversion Cycle 73 111 120
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R=31 G=172 B=226 R=6 G=34 B=65 R=2 G=237 B=246 R=18 G=104 B=178 R=91 G=88 B=154 R=191 G=191 B=191 Thank You Chief Financial Officer Investor Relations Advisor Mudit Nahata Email: ir@uirtus.inAnkit Kumar Singhal Email: ankit.singhal@netwebindia.com netwebindia.com company/netweb-technologies twitter.com/netwebtech