Zetwerk Manufacturing Businesses ZETWERK
Solar Module Manufacturing (ALMM): Asset-light contract manufacturer whose energy-products arm makes solar mounting structures, transformers and power equipment through its own and partner plants (listed Oct 2026)
Mapped in 2 themes: Solar Module Manufacturing (ALMM) and Power Transmission & Grid.
Where Zetwerk Manufacturing Businesses sits in the supply chain
Zetwerk Manufacturing Businesses appears in 2 supply-chain layers across 2 themes: Solar Module Manufacturing (ALMM) and Power Transmission & Grid.
Solar Module Manufacturing (ALMM) › Mounting, Trackers & BOS Cabling
Direct supplierAsset-light contract manufacturer whose energy-products arm makes solar mounting structures, transformers and power equipment through its own and partner plants (listed Oct 2026)
Other companies in this layer
Power Transmission & Grid › Power transformers & reactors
Direct supplierContract manufacturer making transformers and power equipment alongside solar structures (listed Oct 2026; also in solar)
Other companies in this layer
Revenue and profit
| ₹ Cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 4,964 | 11,449 | 14,444 | 11,332 | 15,913 |
| Net profit | −60 | −102 | −918 | −371 | −1,606 |
Latest-year revenue ₹15,913 Cr (FY26, company-wide).
Strengths · in Solar Module Manufacturing (ALMM)
- Energy products grew 87% to ₹6,508 Cr in FY26 and are about 69% of manufacturing revenue (RHP, Oct 2026)
- Manufacturing order book doubled to ₹13,062 Cr by Jun 2026, led by solar structures and power equipment
Risks · in Solar Module Manufacturing (ALMM)
- Adjusted EBITDA margin under 3%, negative operating cash flow and still loss-making at group level
- About 41% of revenue is low-margin commodity trading (Terra91), not manufacturing
- US tariffs on Indian solar piles cut US orders; listed Oct 2026, so a very short public track record
Common questions
What does Zetwerk Manufacturing Businesses do?
In Solar Module Manufacturing (ALMM): Asset-light contract manufacturer whose energy-products arm makes solar mounting structures, transformers and power equipment through its own and partner plants (listed Oct 2026). NextResearch maps it in 2 supply chains: Solar Module Manufacturing (ALMM) and Power Transmission & Grid.
Where does Zetwerk Manufacturing Businesses sit in the supply chain?
Zetwerk Manufacturing Businesses (NSE: ZETWERK) is mapped in 2 supply-chain layers: Mounting, Trackers & BOS Cabling (Solar Module Manufacturing (ALMM)); and Power transformers & reactors (Power Transmission & Grid).
Who are Zetwerk Manufacturing Businesses' peers?
In the Mounting, Trackers & BOS Cabling layer of Solar Module Manufacturing (ALMM): Karamtara Engineering and Apar Industries.
What is Zetwerk Manufacturing Businesses' market cap and valuation?
As of 6 Nov 2026: market cap ₹27,891 Cr, ROCE 4.0%, ROE −38.5%.