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  • Wednesday, September, 2021| Today's Market | Current Time: 05:00:23
  • Zetwerk Manufacturing records nearly three times growth in revenue to ₹949 cr

    Published on July 7, 2021

    Bengaluru: Capital and consumer goods makerZetwerk Manufacturing Businesses Pvt Ltd today reported its financial performance for the financial year 2020-21.

    The company’s Revenue from Operations for the year stood at ₹949 Crore, as compared to ₹360 Crore during the year ended 31 March 2021, registering a nearly threefold increase despite the disruption in business caused by the Covid 19 pandemic.

    After the easing of Covid-19 restrictions last year, the company accelerated deliveries before the onset of the 2nd wave of the pandemic, as customers preferred virtual monitoring and social distancing in project management. Zetwerk’s proprietary technologies significantly reduced the need for physical factory visits and provided clarity and transparency in business

    through an in-house platform, making it an attractive proposition for customers to do business with us.

    The company’s losses narrowed to 2% of the revenue as against 8% in the year ago period.

    Amrit Acharya, chief executive officer,Zetwerk Manufacturing Businesses said that the company is comfortably poised to leverage growth opportunities that emerge across markets as economic activities resume around the world. The company is hopeful of an even better growth in FY22 driven by increase in public and private spend across infrastructure, consumer durables, electronics, aerospace and renewable energy.

    “Our business performance during 2020-21 is testament to the resilience and strength of Zetwerk’s core value proposition, which is to help global companies bring their products to market faster, cheaper and with the highest quality. In a challenging year, not only have we grown incredibly well, more importantly, we have done it in a very capital efficient manner, reducing the working capital requirements of the company by 75%. Moving forward, we will continue to deepen our focus on precision manufacturing, capital goods and consumer products and continue delighting our customers who are finding Zetwerk as their preferred conduit for solving manufacturing pain points,” Acharya said.

    Zetwerk’s future growth is supported by an ever-increasing order book of ₹4500 crore thus bringing predictability in business for the rest of the year, said Srinath Ramakkrushnan, chief operating officer, Zetwerk Manufacturing.

    “Our order book is a testimony to Zetwerk’s very well-diversified industrial and consumer segments. In the consumer segment, Zetwerk is rapidly expanding its footprint across consumer electronics and apparel segments through aggressive customer acquisitions across e-commerce, modern retail, and D2C consumer brands. Today more than 500 enterprise customers and several Fortune 500 organisations trust Zetwerk with their contract manufacturing requirements. Over 80% of Zetwerk’s invoicing revenues today come from repeat and regular customers as we provide

    strong on-time delivery, competitive pricing, wide-range of manufacturing capacities and capabilities. We will continue to pursue a world-class

    manufacturing eco-system that creates reliability for all the stakeholders,” Ramakkrushnan said.