Netweb Technologies India LtdNSE:NETWEB
Current view Q1 2027
India's only home-grown company that can design and build the full AI stack - servers, supercomputers and the software to run them - and one of under ten NVIDIA OEM partners. AI is now two-thirds of sales, margins are recovering to about 15%, and FY27 opened with a ~₹2,400 cr order book bigger than all of FY26's sales, on 37.5% return on capital and net cash. New R&D is pushing into physical AI and quantum computing. But management has twice walked its own margin target down.
Latest exchange filings last 5 · 5 after Q1 2027
- 3 Sep ’26Intimation regarding allotment of 1645 ESOPs on 03.09.2026 ↗
- 29 Aug ’26Intimation regarding newspaper publication of 27th AGM Notice ↗
- 28 Aug ’26Netweb filed FY2025-26 BRSR with reasonable assurance and ESG metrics. ↗
- 28 Aug ’26Book Closure For Annual General Meeting 28 Aug ↗
- 28 Aug ’26Dispatched 27th AGM notice and FY26 annual report to shareholders without registered email addresses. ↗
Exchange filings, with the company's own one-line summary, read off the same page as the figures. Screener publishes only the most recent few, so this is the last 5 — not everything filed since your note, and a quiet-looking list is not proof of a quiet quarter. A filing is marked new when it is dated after the end of the quarter your note covers. Not scored, and not a judgement — a routine repayment notice and a takeover sit in the same list.
How this view changed
AI concall report · Q1 2027
The full earnings-call read behind this view — what management promised, what they delivered, and the earning trigger.
Growth Q1 2027
| Metric | This year vs lastYoY · vs Q1 2026 | vs the quarter beforeQoQ, sequential · vs Q4 2026 | 3-year yearly average3Y CAGR · compounded | 5-year yearly average5Y CAGR · compounded |
|---|---|---|---|---|
| Sales | ▲ +172.4% | +5.9% | +69.9% | +72.5% |
| Operating profit | ▲ +168.9% | +24.7% | +62.4% | +80.2% |
| EPS | ▲ +178.4% | +20.8% | +57.7% | +20.0% |
| PAT | ▲ +183.3% | +19.7% | — | — |
Tinted rows drive the Tier. Tier = the weaker of YoY Sales and YoY PAT growth. Here the weaker is Sales at +172.4%, which is ≥ 20% → Tier 1.
QoQ is sequential, not a trend. For most Indian companies the March quarter is seasonally the largest, so a June-quarter fall against it is a calendar effect. Only the YoY column feeds the Tier.
Multibagger potential
Good74/100
Growing fast — and the market has noticed. Profit per share grew 58% a year, and buyers now pay more for each rupee of it than they did a year ago. Some of the re-pricing has already happened.
₹4,567 → ₹9,133 needs the P/E at 51× — it is 100× today, and has ranged 13× to 214× over the last 5 years. The rest would come from earnings growing as they have.
What you pay for its profitlog scale · 5-year range
Tripling needs 76× — inside its 5-year range, under the 144× median.
Target capped at 58× — its 142× five-year average came from near-zero earnings.
At ₹2,646 the price-tag on its earnings reaches the 58× it is being projected toward — the point where being cheap against that yardstick is used up.
Both engines fired — but you're buying after the re-rate.
How this is calculated
This is arithmetic, not a forecast — Return = ΔEPS × ΔMultiple. It says what would have to be true, not how likely it is, and "earnings keep growing at this rate for three more years" is the assumption doing the most work. This is a mid-cap at ₹27,111 cr, so the odds of a re-rate are not fighting its own size.
Why the target is capped at 58×. This company averaged 142× over five years, but a multiple that high comes from near-zero earnings rather than from what buyers chose to pay — projecting a return to it would price in the collapse, not the recovery. 58× is what a 58% grower supports.
Growth rate used: 57.7% — the weakest of EPS / Sales / Op-profit from 3-year EPS CAGR. Latest quarter reads 60%.
How it compares with its rivals Data Centers and Cloud · 6 of 68 listed
It earns 37% on its capital, more than any of them — the next best earns 32%, and it is the most expensive of those shown.
| Company | Price | P/E | Size | ROCE | Profitlast qtr | Saleslast qtr |
|---|---|---|---|---|---|---|
| Netweb Technol. | ₹4,630 | 105.6× | ₹27,524 Cr | 37.5% | +179.9% | +172.1% |
| L&T Technology | ₹3,314 | 26.1× | ₹35,157 Cr | 26.7% | +17.4% | +11.5% |
| Inventurus Knowl | ₹1,783 | 40.0× | ₹30,613 Cr | 31.5% | +27.9% | +20.7% |
| Tata Technolog. | ₹729 | 45.5× | ₹29,589 Cr | 20.9% | +6.2% | +33.8% |
| Affle 3i | ₹1,547 | 45.6× | ₹21,795 Cr | 16.8% | +21.7% | +20.4% |
| Sagility | ₹46 | 20.9× | ₹21,492 Cr | 13.4% | +53.0% | +27.6% |
Screener's own peer group, from the request already made for the industry P/E. It serves the industry's largest names by market cap, not companies of a similar size, so treat this as context rather than a like-for-like table; this company is always shown. On a phone the price, size and sales columns are dropped rather than pushed off the edge. Not part of the score.
Business quality to Jun 2026
| Are the margins widening? | broadly flat | operating margin 14% → 15% over 3 years |
|---|---|---|
| Did the profit turn into cash? | more than all of it — reserves released cash too | 301% last year, 122% over three · free cash flow ₹779 cr, positive in 2 of 5 years |
| Is the growth borrowed? | lightly borrowed | ₹282 cr — 0.39× its own equity (was 0.02×) |
| Is it being collected? | collection is steady | 112 days to collect, down 3 in a year · cash cycle 121 days |
| Who has been buying? | the promoters have been selling | promoters 67.0% (−4.0 in a year), 75.5% → 67.0% over 2.8 years · FIIs 9.3% (−0.3) · DIIs 5.9% (+1.7) · shareholders 75,145 → 2,46,932 |
| What does it earn on its capital? | earns a high return on the capital it employs | ROCE 37.5% · ROE 32.8% |
Fetched from the filings, not typed — and deliberately not part of the score. These are the questions the score cannot ask: it reads growth, price and trend, so a company can score well while its profit never becomes cash. Weigh these beside the note, not against the number.
Screener's own checklist not mine, not the score
In its favour
- Company is expected to give good quarter
- Company has delivered good profit growth of 90.3% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.0%
- Company's working capital requirements have reduced from 62.2 days to 13.8 days
Against it
- Stock is trading at 36.6 times its book value
Generated by screener.in from a fixed checklist — not written by me and not an input to the score. It is here as a second machine opinion to weigh against the note; where it disagrees with the view above, the note is the considered one.