{"id":182261,"date":"2026-05-04T07:24:01","date_gmt":"2026-05-04T11:24:01","guid":{"rendered":"https:\/\/alphastreet.com\/india\/netweb-technologies-india-ltd-netweb-q4-2026-earnings-call-transcript\/"},"modified":"2026-05-04T07:24:01","modified_gmt":"2026-05-04T11:24:01","slug":"netweb-technologies-india-ltd-netweb-q4-2026-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/netweb-technologies-india-ltd-netweb-q4-2026-earnings-call-transcript\/","title":{"rendered":"Netweb Technologies India Ltd. (NETWEB) Q4 2026 Earnings Call Transcript"},"content":{"rendered":"

Note:<\/strong> This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.<\/em><\/p>\n

Netweb Technologies India Ltd. (NSE: NETWEB) Q4 2026 Earnings Call dated May. 04, 2026<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Sanjeev Sancheti<\/strong> \u2014 Investor Relations Advisor<\/em><\/p>\n

Sanjay Lodha<\/strong> \u2014 Chairman and Managing Director<\/em><\/p>\n

Ankit Kumar Singhal<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

Hirdey Vikram<\/strong> \u2014 Chief Sales and Marketing Officer<\/em><\/p>\n

Analysts:<\/h2>\n

Seema Nayak<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Akshay<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sandeep Shah<\/strong> \u2014 Analyst<\/em><\/p>\n

Vinay Menon<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Presentation:<\/h2>\n

Operator<\/strong><\/p>\n

Ladies and gentlemen, good day and welcome to NetWeb Technologies Limited Q4FY26 earnings conference call hosted by ICICI Securities. As a reminder, all participant lines will be in the lesson only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on a touch tone phone. Please note that this conference is being recorded. I now hand the conference over to Ms.<\/p>\n

Seema Naik from ICICI Securities. Thank you. And over to you, ma’. Am.<\/p>\n

Seema Nayak<\/strong> \u2014 Analyst<\/em><\/p>\n

Thank you. Good afternoon everyone. On behalf of ICICI Securities, I welcome everyone to NetWeb Technologies Q4FY26 earnings call. We have the pleasure of having with us the senior management team of NetWeb Technologies led by CMD Mr. Sanjay Lodha, Full Time Director, Mr. Naveen Lodha, CFO Mr. Anskit Kumar Singhal, Chief Sales and Marketing Officer, Mr. Vive Vikram, Chief Strategy Officer, Nupul Kedia and Head of Yotos Advisors. The IR advisor to network technologies, Mr. Sanjeev Sancheti. Without further delay, I’d like to hand over the floor to Mr.<\/p>\n

Sanjeev Sancheti. Over to you, sir.<\/p>\n

Sanjeev Sancheti<\/strong> \u2014 Investor Relations Advisor<\/em><\/p>\n

Thank you, Seema. Good afternoon to all the participants. Before I hand over the call to Mr. Sanjay Lodha for the opening remarks, I would like to draw your attention to the Safe harbor statement in the earning call presentation. I request each one of you to go through the presentation thoroughly before the Q and A starts so that you are aware of the same. Thank you. And over to you, Mr. Lodha.<\/p>\n

Sanjay Lodha<\/strong> \u2014 Chairman and Managing Director<\/em><\/p>\n

Thank you, Seema and Sanjeev. Good afternoon and warm welcome to all of you to NetPleb Technologies Q4 Financial Year 26 Earnings Call. We are pleased to announce that NetWeb Technologies delivered a landmark year with the revenue from operations reaching 21,836 million in financial year 26, reflecting a strong year on year growth of 90%. This record annual performance underscores the strength of our business model and accelerating demand for high end computing systems in India. For Q4 financial year 26, revenue from operations stood at 7,737 million, growing at 86.6 year on year, demonstrating strong execution momentum as we close the year on a high note.<\/p>\n

PAT for the quarter stood at 706 million, representing 65.7% year on year growth with a PAT margin of 9%. For the full year, PAT stood at 2,058 million, up by 80.9% year on year with a PAT margin of 9.3%. These results reflect not just top line momentum but disciplined margin sustained across our businesses. The defining highlight of financial year 26 has been the performance of our AI segment which grew by 459.6% year on year. This growth was a result of years of focused in house R and D enabling us to design and manufacture some of the world’s most powerful latest generation AI systems.<\/p>\n

Combined with disciplined planning and execution of large strategically significant national scale orders, AI systems contributed 43.4% of our total operating revenue in financial year 26, a transformational shift from a revenue mix that firmly positions our total operating positions network at the center of AI infrastructure built out the other two core segments HPC and Private Cloud continues to exhibit robust demand reinforcing the breadth and resilience of our technology portfolio. The performance is direct reflection of NetWeb’s unwavering commitment to in house design and manufacture of next gen high end computing system.<\/p>\n

This fully aligns with global phenomenon of sovereign compute infra needs which is very well addressed by NetWeb and countries make in India Vision we take immense pride in creating significant impact in strengthening India’s emergence as a credible global hub for high technology manufacturing which will benefit the nation for decades to come. Beyond our own performance, we believe India stands at the threshold of generational opportunity in artificial intelligence. With the world’s largest pool of digital users, a fast maturing data ecosystem, the major boost to indigenous foundation models and decisive policy momentum through the India AI mission supported by Make It India, the country is posed to emerge as one of the most prominent AI economies of the world.<\/p>\n

Center to this vision is government’s clear focus on sovereign AI infrastructure ensuring that the compute data and models powering India’s digital futures is built, owned and operated within the country. The build out of indigenous AI compute is no longer aspirational. It is a strategic national imperative tied directly to economic competitiveness, data security and technological self reliance. As India’s only full stack domestic provider for high end computing systems, Netweb is uniquely positioned to power this transition.<\/p>\n

Our strategy remains firmly anchored on our three growth pillars, hpc, Private Cloud and AI systems supported by our established technology leadership and in high end computing system space for large order pipeline. As we step into financial year 27 from a position of strength with a firm order book of around 2,100 crores and an L1 inclusive order book of 2,400 crores day one of financial year 27 we already have on our books more than what we had built for all of last year. We see a long Runway of growth ahead.<\/p>\n

We remain committed to investing in R and D manufacturing. Depth and talent to ensure India’s AI ambition are built on strong foundations and that network continues to create durable long term value for all our stakeholders. I now request Ankit to take through the financials. Thank you.<\/p>\n

Ankit Kumar Singhal<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

Thank you, Mr. Lodha. Good afternoon ladies and gentlemen and thank you for joining our earnings call. Before we open the floor for qa, I will provide a brief overview of the financial performance for the quarter and the year gone by. I trust by that now you have had the opportunity to review our earnings presentation and press release. While our CMD has already discussed the macro outlook, I will elaborate on the financial performance providing a more detailed analysis. First, on the quarterly numbers.<\/p>\n

Our operating income for Q4FY26 stood at rupees 7737 million showcasing a growth of 86.6% YoY. Our adjusted operating EBITDA for Q4FY26 stood at Rupees10.18 million showcasing a growth of 71.8% YoY. Adjusted EBITDA includes the impact of mark to market losses on certain payables against which corresponding hedging gains were recorded. As per accounting standard, MTM losses are recognized within expenses while related hedging gains are classified under other income to better reflect the operating performance.<\/p>\n

Hedging gains of rupees 52.4 million have been added back to EBITDA to the extent they offset the MTM losses on the same underlying payables. Our operating EBITDA for Q4FY26 stood at rupees 966 million showcasing a growth of 63. Profit after tax for Q4FY26 stood at Rupees 706 million showcasing a growth of 65.7% YoY with with a margin of 9%. Now moving on to the annual numbers. Operating income for the full year, FY26 stood at rupees 21,836 million showcasing a growth of 90% YoY. Adjusted operating EBITDA for FY26 stood at rupees 2,901 million showcasing a growth of 82.4% YoY.<\/p>\n

Operating EBITDA for the full year FY26 stood at rupees 2148 million showcasing a growth of 79.1% YoY. Profit after tax for the full year, FY26 stood at Rupees20.58 million showcasing a growth of 80.9% YoY with a margin of 9.3%. Now I would like to throw some light on key balance sheet ratios. Return on equity stood at a healthy 32.9% while return on capital employed for the same period was 37.5%. The gross fixed asset turnover ratio stood at 33.2% times as on 31 March 2026. Our cash conversion cycle as at March 2026 stood at 84 days.<\/p>\n

Receivable days improved from 114 days in December 2025 to 86 days in March 2026, reflecting stronger collections. Inventory days increased from 60 days in December 2025 to 86 days In March 2026, primarily on account of buildup of raw material stock, both to the support the execution of large strategic orders and to secure adequate inventory of key inputs. In light of surging global demand of AI compute infrastructure, our balance sheet strength is reflected by us being a zero net debt company. The company had next free cash of Rupees 833 million as on 31st March 2026.<\/p>\n

The net cash generated from operating activities was Rupees 17. 15 million. For the financial year 2026, the board has recommended a dividend of 3 rupees per shares, subject to shareholders approval. Our strategic roadmap and growth priorities remains on track. Supported by huge demand for high end computing solution, a healthy order book and a solid pipeline, we are positioned to deliver consistent revenue and profitability in the upcoming fiscal year. Looking ahead, we remain confident of sustaining strong momentum and are guiding a revenue growth of 35 to 40% over the next couple of years.<\/p>\n

With this, I now hand over the call to Seema.<\/p>\n

Operator<\/strong><\/p>\n

Thank you very much sir. We will now begin the question and answer session. Anyone who wishes to ask a question may press STAR and one on the Touchstone telephone. If you wish to withdraw yourself from the question queue, you may press star and 2. Participants are requested to use handset while asking a question. Ladies and gentlemen, we’ll wait for a moment while the question queue assembles. First question is from the line of Renu Bed from IIFL Securities. Please go ahead.<\/p>\n

Questions and Answers:<\/h2>\n

Seema Nayak<\/strong><\/p>\n

Yeah, hi, good afternoon team and congratulations for the good performance. So the first question is. While we had alluded to the fact that sequentially execution will be broadly flattish, can you throw inputs in terms of. Despite significantly higher share of organic growth coming into the base business, our gross margins technically have not improved. Their EBITDA margins sequentially were broadly at 12.5%. So what has constrained the margin expansion? Despite significant jump up in base business revenues, this quarter.<\/p>\n

Sanjeev Sancheti<\/strong><\/p>\n

So Renu, just a couple of things. One, that it is not that the strategic orders have been lagging behind, it’s just that they spilled over to the next quarter. So we are on track on that. And we enter the new financial with a very strong order book of about 2,100 plus about 350 crores of the L1. So we enter with 2,400 which is more than the last year’s revenue. As far as the margins are concerned I think you need to see the margin at the still of the adjusted of the forex loss and gain. So actually we’ve done better than the last quarter and that is reflective of how the margin is proceeded to be and it is within the guidance.<\/p>\n

Seema Nayak<\/strong><\/p>\n

Sure, because I was looking at the gross margin level which sequentially does not show improvement there. Understand that’s point number one and point number two. So how are we looking at the pipeline of order flow both for the base business, also on the strategic business? We haven’t heard of any meaningful large order wins for L1 in the last couple of quarters. So how is the order pipeline from the private service providers as well as from the direct government orders for the AI infrastructure here?<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

Actually, if you really see what I said in my commentary very very clearly, basically the way the business is looking to me is really fabulous. Actually really speaking, I am showing the order book of around basically 2100 crores. But if I add the L1 it is 2400 crores which is more than the order, more than my revenue, current year’s revenue. I think that itself is a very, very solid thing. If you really see at the beginning of the year we are entering a year with a very, very too heavy and too robust order book already.<\/p>\n

Okay. So whatever has to be added will be added. And plus so as to basically organic business is growing, that means that our run rate and our other business is growing. The company is not dependent on strategic orders as I have always been telling you that primarily the company is running primarily on its own organic way and is growing in its organic way. The strategic orders we are announcing as and when it is coming. We have a lot of discussions, you are aware about the kind of AI demand which is happening not only in India but across the world.<\/p>\n

Okay. And basically, and it seems like it will go on for at least next 18 to 24 months. So we have a huge basically pipeline wherein basically a lot of opportunities are there and I think there is, there will be no dress of orders actually really speaking.<\/p>\n

Seema Nayak<\/strong><\/p>\n

Got it. So basically exo strategic Order with orders of almost 16, 16 and a half billion. The base order book today is about 5 billion rupees and including the L1 orders it should add up close to 900 crores or 9 billion if I am right in terms of numbers, does that broadly follow?<\/p>\n

Sanjeev Sancheti<\/strong><\/p>\n

So I think the total order book if you look today is 2100 crores plus about 300 crores or 24 plus 100 crores is the order book including L1. And to that you add 4400 crores of pipeline. So that will stack up to let’s say about how much? Six and<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

A half thousand. Six<\/p>\n

Sanjeev Sancheti<\/strong><\/p>\n

And a half thousand, yeah. So that’s a total including pipeline and order book.<\/p>\n

Seema Nayak<\/strong><\/p>\n

Sure. No, I was just referring to the base orders excluding strategic. So strategic orders in the backlog is about close to 16, 16 and a half billion. And if I knock that off from the 64 billion order book including L1, then today we have close to 800.<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

Yeah, you are right.<\/p>\n

Seema Nayak<\/strong><\/p>\n

Got it. So base business should be on track for 30, 35% Kaggle group that we have been suggesting.<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

Yeah, basically I think seeing the order book you yourself will get that conviction.<\/p>\n

Seema Nayak<\/strong><\/p>\n

Right. And on the operating margins, do we think the cost headwinds and the current environment you have been fully able to pass through and ebitda margins of 13, 13 and a half percent, are they sustainable going forward for 27, 28? And what would be your headline guidance for fiscal 27 on revenue, EBITDA margins and capex?<\/p>\n

Ankit Kumar Singhal<\/strong><\/p>\n

So<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

Basically it will remain almost all the same. I will let Ankit answer.<\/p>\n

Ankit Kumar Singhal<\/strong><\/p>\n

Yeah, so Renu, so on the operating EBITDA margins we are guiding 13 to 14%. If you understand that there is a high top line growth and we are still sustaining the EBITDA margin. So that primarily gives the validation and the resilience in the margins we are maintaining. So in this way all if you see with this growth the leverage is already embedded in the margins. So that’s why we are guiding this 13 to 14% range for next couple of years. And on the revenue growth, and on the revenue growth we are guiding 35 to 40%.<\/p>\n

Seema Nayak<\/strong><\/p>\n

And capex for fiscal 27. What are the plans there?<\/p>\n

Ankit Kumar Singhal<\/strong><\/p>\n

So with the current capex we are able to sustain the growth. There is no CAPEX expansion, no significant CAPEX is expected in this financial year 27. So there will be the routine CAPEX that will be coming across.<\/p>\n

Seema Nayak<\/strong><\/p>\n

Okay, so we can expect the 2025 crores of base spending will continue.<\/p>\n

Ankit Kumar Singhal<\/strong><\/p>\n

Yeah, more or less.<\/p>\n

Seema Nayak<\/strong><\/p>\n

Got it, sure. Thanks much. Sir, I’ll get back in the queue with more questions. Thank you and all the best.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question is from the line of Seema Naik from ICICI Securities. Please go ahead.<\/p>\n

Seema Nayak<\/strong><\/p>\n

Hi. Congrats on board. Organic growth. So how will the timeline for execution of the remaining strategic order in fan out? That’s my first question. And second question is regarding data center growth which has slowed down. So can you share the reason behind it? Are we seeing increased competition here? And what will be the target cash conversion cycle for FY27? Yeah, these are my questions.<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

So basically strategic orders, timeline, basically it’s as definitely as we have mentioned it. I think it is expected it will be done quarter by quarter and we expect that within the next three quarters. I think we expect it to be done. Okay. As regards the strategic order is concerned.<\/p>\n

Ankit Kumar Singhal<\/strong><\/p>\n

And the next question was. Next question was the data center. Yeah, basically<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

I think you need to see it ma’. Am, actually very clearly there are three pillars of growth actually which we have basically just don’t go by the name. The first is the hpc. That is supercomputing. That’s already growing and that has been always been around 30% of our business. But since this year AI became 43% of our business. Still it’s 24% of our business. So it’s not growing, it’s not stagnating, it’s growing. But basically since AI is AI is doing much faster. Actually, actually the data center in our case is the private cloud and sti.<\/p>\n

Please understand that we basically. So these are the three pillars. First is hpc. Second is private cloud and third is AI. And private cloud is the data center business which used to be around 30, 35% of the business that is showing us 24% because again because of the AI was 15% has become 43%. So that’s the reason you’re saying that number. But really in reality it is growing at a good momentum. Definitely not growing as good as AI but definitely it’s growing at a good momentum. The data center which you are saying there is no deal growth, the data center servers which you’re showing, that’s not a focus area for us because we’re not into box selling.<\/p>\n

It was Only some marginal 5% of the business and it’s around that. So we don’t even track it. Our business, if you see totality, more than 95% comes from these three segments. HTC private cloud and AI systems.<\/p>\n

Ankit Kumar Singhal<\/strong><\/p>\n

Third question, third question was the cash conversion cycle. So yeah. So Seema. So our Cash conversion cycle typically operates from 90 to 110 days. Now this is something which cannot be projected for next year at least but we would like to say that the range will remain like that. There will be some increase in the inventory days projected for this year also. So but we will stay within the range of 90 to 110. That’s what we feel.<\/p>\n

Seema Nayak<\/strong><\/p>\n

Got it. Thank you and all the.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question is from the line of Harindra Singh from Blackstone. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

So my question is basically on the India AI demand. So India is somewhere around 1 1.5 gigawatt current and by 2030 the country plan is to go up to 9 gigawatt. So first question is the way the industry as a country we are going to grow from 1.5 gigawatt to 9 gigawatt. Do you see your industrial growth in line with the current country expectation? And second question is a lot of hyperscalers like Amazon, Microsoft, they are going very aggressive in the country and they are building up more than 1 GW capacity in Hyderabad.<\/p>\n

Mundai. So like I saw Yota as you are one of the customer, are you focused on hyperscalers or like do you have any growth plans going into directly hyperscalers rather than the colocation providers? Thank you.<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

So basically first thing is that India AI mission, you know is based on many pillars actually there are five or seven pillars out there actually really speaking and government, you know that Prime Minister’s focus is very, very clearly on the basically India has to become a leading country for providing AI solutions actually. So the government has been very clearly focusing upon it has been working very hard and have been trying to bring AI on the forefront for the country so that India leaves an impact to the world on the on the AI space actually.<\/p>\n

And so that is going on very well in track Government’s current spending budget, they are even ready to expand that also if they’re able to do it. So it’s really the budget is not the main criteria there. The criteria is how fast they are able to spend the money and how fast they are able to get in the new infrastructure. So there are two parts of it as we have been telling you telling every time that one is basically government is trying to basically tend out GPUs from various new cloud providers like Utah and others.<\/p>\n

And basically another is that government is trying to set up this their own infra. So setting up their own infra is taking time but definitely that process has also started. But in the meantime basically they are trying to take it from the RFP model. They are trying to take GPUs from various kind of new cloud providers. So that is going on on track and that’s happening very clearly and the government’s own demand is also there. So as regards your particularly on the the side of what is the kind of spend is happening is basically it’s a large amount.<\/p>\n

They are, they were talking about 10,000 GPUs which became 25, 25,000 GPUs. Now they are even ready to go up to 100,000 GPUs also. So government’s focus is very clear. Very clearly they want to create AI infrastructure in the country. So all the AI startups and all the, all the people who want to work on AI they don’t fill the pinch of it and the GPUs are made available to them so that they can really do their work. If you got a chance you might have even seen the success of India AI Summit the kind of traction it got, the kind of people who are attending it.<\/p>\n

It was only targeted at 100,000 people but more than 700,000 people really attended it. So we kind of basically the Prime Minister himself was there for three days. So you can very well understand the kind of focus and attention they are trying to give it. As regards your question basically primarily that are we targeting hyperscalers at this point of time? My answer is that at this point of time we are not targeting really hyperscalers because India is a market in which basically still is not a hyperscaler driven market.<\/p>\n

It’s primarily more of a sovereign and those kind of market. Actually it is but definitely hyperscalers come and if they are interested we can definitely bid for them, we can definitely work with them. But at this point of time we are not targeting hyperscalers and I don’t India is a hyperscaler market. They are trying to set up large data centers still these are in greenfield projects. They will take time so as to basically come up. Maybe Hriday can add.<\/p>\n

Hirdey Vikram<\/strong><\/p>\n

Yes, I think you have already covered all the details. And as regards you know, demand is concerned Harinder, I can definitely tell you the way the you know, investments are going up especially from the government side and now the enterprise interest investment has also started coming in. So it clearly paves the way for us and we find a lot of headroom for us to grow. And as you rightly mentioned that the currently the capacity which India holds in terms of data center that is anyways going to go up.<\/p>\n

So that clearly shows that there is no dearth as regards the demand is concerned. So we definitely want to encash the opportunity and this is what we are doing. So you can find a lot of good quarters coming our way.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah, thanks. So that these are the two questions. So the way the industry and the AI industry is changing. So a lot of companies like tcs they have. They have come up with a company’s side like Hypervault where they are serving these hyperscalers providing them colo services where they are making huge 50, 55% on margin in in future if you see growth in into these business and happy to see you in other areas also which are more profitable and you can add value because you are contributing to major part of the items which goes into the data center.<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

All these initiatives really add to our business actually Basically you see all these, we call them Global Service providers actually or basically GSI like tcs, Infosys and basically wipro and all these. So basically they are all evolving and they are all developing different kind of products so as to service the AI workload. So all these basically offer us more opportunities and all these are our customers or are affordable customers. We are under NDA so we cannot disclose which customer what they are trying to do.<\/p>\n

But all these definitely add because they need AI infrastructure, they need the AI stakeholders track and everything which needs to be done on that basis. On that they offer the services to the customer. So more and more AI workload is coming to them and so that AI workload delivery is there. So definitely that’s a good business opportunity for us.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah. Thank you. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Ladies and gentlemen, in order to ensure that the management is able to address questions from all the participants in the question queue, please restrict yourself to two questions per participant. Should you have a follow up question, please rejoin the queue. Next question is from the line of Akshay from AK Investments. Please go ahead.<\/p>\n

Akshay<\/strong><\/p>\n

First of all, congratulations for the greatest great set of number. Hi sir. Am I audible?<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

Yes.<\/p>\n

Akshay<\/strong><\/p>\n

Okay, so my first question is regarding the promoter stack sale in the quarter four. So the promoter have nearly sold the 4% stake. So what was the reason for the same and do we expect any further dilution in the promoter holding going forward?<\/p>\n

Sanjeev Sancheti<\/strong><\/p>\n

Yeah, so I think first answer the second question first. We are not going to dilute this. This take sale was done in the month of February. We have. We are not going to dilute one month from there. So that’s already confirmed as take sale. Of course it was done because there was. There was some. There was a liquidity, there was Limited liquidity. So by this take sale we have been able to increase the liquidity of the stock.<\/p>\n

Akshay<\/strong><\/p>\n

Okay. Okay, sir. And sir, my second question is regarding the presentation. So there is one line in the presentation that we have commissioned. The new set of the art production facilities spanning across 15,000 square foot. So is this the new manufacturing facility that we have commissioned or if yes, then how much capacity or how much incremental capacity does it bring?<\/p>\n

Hirdey Vikram<\/strong><\/p>\n

Yes, this is a state of the art manufacturing facility which we have set up. And you know the largely the target was to, you know, start manufacturing the range of those systems which we had not been manufacturing earlier. And now as you can see that we have introduced the new architecture of you know, our latest generation systems as well. So keeping that in mind, this facility has been set up. And you will be happy to know that with this facility we will also be designing the complete range of liquid cooled systems as well.<\/p>\n

And now you know, the idea was to increase the density per rack in our case. And that is what we have. You know, this facility has helped us and now we will be able to scale even beyond, you know, 150 kilowatt per rack, kind of an architecture. So this facility was very important for us. So that was in there, you know, in the process earlier. So now we have completed it and we will be targeting the larger deployments with the help of this facilities.<\/p>\n

Akshay<\/strong><\/p>\n

Okay, sir. So currently what is the total revenue capabilities that we have from all our capacity?<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

So basically, actually you will have to understand the company very well. This is a technology company. This is not a capacity driven company. Actually we are capability driven company. We have never said we never work on capacity. Our capacity utilization would be around 65 to 70% only. Primarily we are not driven by just a volume sale or something of that nature. You have to understand the basics of the company. Actually the company doesn’t work on capacity. We work on capability. If tomorrow Nvidia’s new Vera Rubin is coming up as a new.<\/p>\n

We are already set up for the partnership for that tomorrow. If we have to manufacture Vera Rubin based servers and their racks and all that, they definitely we need to set up something. We’ll definitely set up. But again that will not be capacity based. That will be capability based.<\/p>\n

Akshay<\/strong><\/p>\n

Okay, sir. Okay. All right, sir. And thank you so much, sir.<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question is from the line of Chi Chi Ho from Pitted Asset Management. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello, can you hear me?<\/p>\n

Ankit Kumar Singhal<\/strong><\/p>\n

Yes.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hey Sanjay and management. Congratulations on a good year. I have two questions. Number one, globally we see this agentic AI phenomenon today driving up. Sorry to interrupt you,<\/p>\n

Hirdey Vikram<\/strong><\/p>\n

Your voice seems very low, we are unable to hear you. Can you be a bit closer to the mic?<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Can you hear me?<\/p>\n

Hirdey Vikram<\/strong><\/p>\n

Yes.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Can you hear me?<\/p>\n

Hirdey Vikram<\/strong><\/p>\n

Yes. Okay,<\/p>\n

Unidentified Participant<\/strong><\/p>\n

So my first question is the agentic AI impact on the CPU year Today we see a lot of demand after the open floor launch so driving a lot of CPU usage. So we saw the intel reported very very strong earnings outlook. So for Netweb I think the relationship is on the high performing computing segment where you sell the CPU server. So last year apparently the AI system is very good but then the HPC segment is more steady. My question is because of this agentic AI trend, do you see a much faster acceleration in the HPC semic revenue this year and maybe next year?<\/p>\n

That’s my first question.<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

So basically telling you Chi, basically thanks for your question. The agentic AI is definitely again one of the factors which is driving the AI actually. And as regards your relation between basically agent TKI driving HPC sales, I don’t think that is going to impact, I don’t think in this current year, at least in this geopolitical region. But I personally feel HPC in itself is growing very well. Basically you are seeing HPC basically growth around. It has grown by around 31% which is not less actually.<\/p>\n

But you are seeing the number low because the AI has grown too much. So that is showing it that way. But let me tell you HPC because National NSM, National Supercomputing Mission 2.0 is already there. Plus basically adoption of HPC and AI together is also happening across verticals, across if you see the automobile industry is using it basically there is quite a lot of use in the oil and gas in different areas. So I personally feel that the HPC will keep on growing but definitely AI will grow at a larger pace.<\/p>\n

But as regards your question on Intel’s the current development, I feel that will take some more time to create an impact to the HPC market growth in India as such, what I can understand.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, understood, thank you. My second question is regarding the healthiness of the India AI investment by the government because I saw some articles saying that the investment in the downstream data center, the take up rate is quite low. So that some of these data centers they have to rent it out to the other customers outside of the India AI mission. Can you from your perspective comment about how healthy is the downstream adoption of the Indian AI mission investment by the government. Thank you.<\/p>\n

Hirdey Vikram<\/strong><\/p>\n

I see, thanks for question. So as we have explained earlier also so Government of India is very clear at the moment that you know, they want India to become the AI service industry for the world. And for that purpose, you know, this process of India mission has been going on for last, you know, almost half a decade and the process started long back. And this mission is very clear that the investments are going on two fronts. One that they want to basically build facilities through the CSPs. And the second is that they want to build the facilities on on prem basis.<\/p>\n

So investment outlays, whatever has been outlined by government of India so far has been as part of their first, you know, tranche of investments. And that itself clearly signifies the efforts by the government of India. And there is going to, you know, there is anyways leaving an impact all over country because enterprises and CSPs all are putting a, you know, putting across their efforts to build up the facilities. And now going forward the expectation is that the investments are only going to go up from here by government also and by the enterprises.<\/p>\n

So the opportunity gives us a lot of headroom to grow. And we are also welcoming the opportunity with open hands and the kind of work we are doing. And as you can see the new machinery facility which we have set up there is also keeping in mind that we wanted to add a new capability of designing dense GPU systems which can serve such kind of requirements coming from both the fronts be it CSP front or the on prem requirement front of Government of India. So we are, you know, absolutely capable, absolutely ready to address the requirement.<\/p>\n

So I think this is quite a good opportunity for us.<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

And the data center investment also is increasing from the corporate side also. People are really interested because they have demand on hand and so they are also trying to open government is a ready buyer. So people are trying to put it take some time to put up the data center investment as you understand that. But people are already to going working. There is a lot of interest around that. If you see the current tax, the government taxation also which they announced. So they are promoting data centers.<\/p>\n

So more and more data center investments are coming in. So we are very, we are pretty sure the kind of basically the demand we are seeing and kind of interest from the government is seeing. So things will roll on very well.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, thank<\/p>\n

Operator<\/strong><\/p>\n

You. Thank you very much. Thank you. Next question is from the line of Sandeep Shah from Equatora Securities. Please proceed.<\/p>\n

Sandeep Shah<\/strong><\/p>\n

Yeah, thanks. Thanks for the opportunity and congrats on a good execution despite supply chain management issue and its impact on the raw materials. Sir, the first question is this book guidance of 35:40 and margin of 13:14. Both of which is for the base business excluding strategic deal. How to consider this guidance?<\/p>\n

Ankit Kumar Singhal<\/strong><\/p>\n

So the revenue growth 35 margin. So it’s for the overall. Overall this is the enterprise level guidance.<\/p>\n

Sandeep Shah<\/strong><\/p>\n

But strategic order you are saying in the first three quarters it would be executed. So that itself is a big growth driver for the coming year.<\/p>\n

Ankit Kumar Singhal<\/strong><\/p>\n

Correct.<\/p>\n

Sandeep Shah<\/strong><\/p>\n

So the growth has to be higher than 3540. Right.<\/p>\n

Ankit Kumar Singhal<\/strong><\/p>\n

So we<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

On<\/p>\n

Ankit Kumar Singhal<\/strong><\/p>\n

The, on the.<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

We are. We are guiding you the best case. Don’t worry at all.<\/p>\n

Sandeep Shah<\/strong><\/p>\n

Okay. Okay. So my question<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

Because we are entering the year with 2400 crore already as order book. Okay. Including the L1. That itself is a robust signal that basically we are entering the year with the order book which is more than the last year’s turnover. That is there more business addition will happen. But you understand that we are not box pushers, Sandeepji. We are primarily more into proactive sellers rather than reactive sellers. So basically we just don’t want to become a box pusher. Also the intention of the company has been to engage into more and more value added kind of of deals.<\/p>\n

See if you see my customers also 50% is government, 50% is enterprise. And enterprise customers are also large customers primarily. So basically those kind of business really takes time to completely loop in and get in. So I feel the kind of revenue guidance which we are giving we would like to maintain it at 35 to 40%.<\/p>\n

Sandeep Shah<\/strong><\/p>\n

Okay. Okay. And sir, in terms of the current inventory level it is fair to assume that the current order order book to some extent can be compensated with the current inventory. Which in turn to some extent will help you to maintain margin. Because these inventory could be built at a price lower than the current spot rate price.<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

I think we will not like to guide on the inventory and the margin. Actually overall I like to guide you. The margins will remain at the same 13 to 14%. We have, we have been always been. You see that last year also we performed as per our guidance. And we are very sure that we will do it this year also.<\/p>\n

Sandeep Shah<\/strong><\/p>\n

Okay. Okay. And just last couple of question. In terms of export sales, any progress you want to share what percentage of revenue it has formed? Sorry to interrupt<\/p>\n

Operator<\/strong><\/p>\n

Mr. Shah, your voice is breaking.<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

I will, I will take this call. I understood. I understood Sandeep’s question. Sandeep ji Basically you know the AI demand is unbetted. It’s very difficult to fulfill the domestic demand itself. So really frankly speaking we are the focus on exports. We are not getting time to do it and currently the worldwide AI demand is embedded. If we. So basically let me first suffice the domestic demand then we look into exports. So it will remain around the 5% which we have been currently doing. It will remain around that only.<\/p>\n

Sandeep Shah<\/strong><\/p>\n

And last question, apart from Google, even AWS and other hyperscaler are introducing their own chip. So in this scenario are we geared up in terms of tire beyond the top three chip providers or manufacturer? Because if this scale increases through hyperscaler produce chip design, can you share the progress, how we are tying up and making sure that the motherboard design also meet a variety of chip designs.<\/p>\n

Hirdey Vikram<\/strong><\/p>\n

So Sandeep, this has been, you know these efforts have been going on at their end for quite some time because you know emergence of TPU is not something which has happened just now. So we are aware of the progress which is happening on the other side of the market and we are open to go in that direction also as long as the significant development is being shown. And as you know that we have got our in house design teams also that is the reason we were able to, you know, take up the disk based architecture so fast.<\/p>\n

So same way we will be able to look at the other, you know, chip makers also as long as there is a significant technological advancement at their end which has got an acceptance in the market. So as a design team, as an oem, we don’t have any reservation to it.<\/p>\n

Sandeep Shah<\/strong><\/p>\n

Okay, thanks and all the best.<\/p>\n

Hirdey Vikram<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question is from the line of Vinay Menon from Monarch Network Capital. Please go ahead.<\/p>\n

Vinay Menon<\/strong><\/p>\n

Hi sir. Hi. Thank you for the opportunity and congratulations on great execution this quarter. Sir, a couple of questions on my side on the component pricing. Are you seeing any kind of softness or are we still looking at component prices being at these levels for maybe the next few quarters?<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

So basically really speaking, I cannot, I am not supposed to guide on the component pricing on my call actually. But let me tell you, the AI demand is really unbated. So that is definitely putting pressure on the components actually really speaking. So if it will remain unbetted, definitely there will be pressure on the component prices and component supply chain. But basically as I have been always been saying that we are proactive sellers. We have good projection of what is going to come, what is not going to come.<\/p>\n

So we plan our inventories and our contracts. Our relationship with OEMs really basically are aligned that way. So it doesn’t impact us much in case there is a price increase. So basically we can always pass on to the new customers.<\/p>\n

Vinay Menon<\/strong><\/p>\n

Okay, thanks. And just Couple of more things. One is, you know we’re seeing demand move from, you know, training to inference, you know, last few quarters. So that is obviously less GPU dependent and more as you know, like Sandeep mentioned, maybe TPUs are also coming in. So how are we going to get impacted in terms of the demand shifting? Are we going to see more demand with inference demand improving or how does the economics work for us there?<\/p>\n

Hirdey Vikram<\/strong><\/p>\n

Maner, thanks for the question. So first of all, you know, as regards, you know our readiness is concerned, we have always been ready to address the demand coming from the training and the inference side, both sides of the market. And that’s the reason, you know, that was reflected in our new introduction of our products as well because we have kept on adding those products also which can take care of inference exclusively or even the products which can take care of training and insurance both. So from the readiness perspective we have been seeing the market development and accordingly only we have designed our products based on that.<\/p>\n

And secondly as regards whether the requirement will go up from here or it will go down. So I can definitely tell you that the demand is only going to go up from here. Reason being on one hand the training kind of work has already been going on in the country and outside all and at the same time whatever development has been done on the training side earlier now the time is that inference will also generate the additional demand. So I think it is good for us that inference is also taking up and this is only going to add to the overall demand.<\/p>\n

So I think it is a good situation for us to handle and we are pretty much ready with both the type of products and both the type of solutions which can take care of the requirement.<\/p>\n

Vinay Menon<\/strong><\/p>\n

Okay. Okay. And there’s one more thing. On the guidance of 35, 40% that is inclusive of the AI mission deal which we will execute over the next two, three quarters.<\/p>\n

Sanjeev Sancheti<\/strong><\/p>\n

So the guidance on the top line is not inclusive of the strategic order. It is the organization. This is, it is the normal organic order which is about 35%.<\/p>\n

Vinay Menon<\/strong><\/p>\n

Okay. Okay. That, that is helpful. That’s all from my side. Thank you so much and all the best.<\/p>\n

Sanjeev Sancheti<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question is from the line of Pooja Seth from yes, securities. Please proceed.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, thank you and congrats for having a good set of number. Just want the clarification India strategic order book, whatever. When you guys check it it is comes under your AI segment.<\/p>\n

Sanjeev Sancheti<\/strong><\/p>\n

Yes.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

SQI lighting has a 35 to 40% growth. So could you throw some lights on the segment twice in which Segment you are seeing SS for AI. Because HPC our core business that is HPG and HBS where I can promote 23% of growth this year. So how we are seeing this further on. So<\/p>\n

Sanjeev Sancheti<\/strong><\/p>\n

I think we give guidance overall basis. It’s too much of detail to be given for a guidance. We would like to stick to the guidance on an overall basis. Thank you.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

But there is some sort of guidance like in this segment you are seeing.<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

So basically our all the three segments. Ma’, am, if you understand three segments today, please understand our core business. Okay, you understand our business. Our business is hpc. Our business is private, cloud and AI. Now you tell me which segment will not grow. Ma’, am, I give you a reverse question which will grow very heavily. Private cloud data center is going unbelievable. But AI is worldwide grown. So all the three segments, 95% of business is coming. The companies into three businesses.<\/p>\n

And all the three segments are really growing at a very good pace. So definitely that will grow. So definitely HPC and cloud. But AI should grow at a faster pace. But I personally feel in future I would like I was guiding that AI should be around 25 to 30%. I can tell you that AI will remain around 35% of my business balance will be shared equally between the HPC and private cloud.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. And so one more question. As for this, for the BFC there was a net bought in has increased about 270 crore. So could you give a breakdown why this happened?<\/p>\n

Ankit Kumar Singhal<\/strong><\/p>\n

To to fund the strategic orders that we had been. These are very short term borrowings, these are no long term borrowings. And these are primarily to execute the working capital required for any large strategic orders or at the same time any regular orders which are going through. And this, this gets settled in a very short span of time. So I mean you can take it that this borrowing is transitionary.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question is from the line of Mansimar Singh Sethi from City Capital. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello sir. I’m out.<\/p>\n

Operator<\/strong><\/p>\n

Yes, please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sir, I wanted to know regarding our cash conversion cycle. Like I know it already been asked a question but how the thing is the cash conversion cycle is more than 100 days. So don’t you think with increasing ROE and ROC I know it’ll be difficult for us. Like we’ll be. You know that we need to reduce the cash conversion cycle drastically for that.<\/p>\n

Sanjeev Sancheti<\/strong><\/p>\n

Drastically. No. So just a minute. So I don’t think it is 100 days. I think we have shared the presentation. If you would have had a look at the presentation it is 84 days and primarily because of inventory which we have, you know which which we have created in inventory for our large orders which we are carrying in hand as of date if you can add to that.<\/p>\n

Ankit Kumar Singhal<\/strong><\/p>\n

So yeah correctly mentioned by Sanjeev sir. So it’s not 100, it’s. It’s around 84. And on the these still the increases because of the inventory days. If you see the receivable days from the last quarter it has significantly improved and inventory days has gone up on the. On the account of stocking the critical components for potential and large orders.<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

And plus basically we have always guided that our. Basically our kind of business remains between 80 to 90. So I think this is not a surprise.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Actually the. It was guided here only in the concord like more than 120. That’s why I was asking.<\/p>\n

Sanjeev Sancheti<\/strong><\/p>\n

90 to 110 is our standard guidance. So yeah particularly we have<\/p>\n

Hirdey Vikram<\/strong><\/p>\n

Actually<\/p>\n

Sanjeev Sancheti<\/strong><\/p>\n

I think.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. And my last second question is regarding our exports. So in. In the ever. So in the last con calls you were saying that we’re tracking different exports also. So I wanted to know regarding that any pipeline regarding our exports per se.<\/p>\n

Hirdey Vikram<\/strong><\/p>\n

So as you could you know I hope you. You heard our answer earlier also that see the kind of market we see in the domestic space. So we are right now trying to fulfill the demand coming from the domestic market itself. Because there is a lot of headroom for us to grow address the overall incremental growth in the market and all that. So first once we are able to address the complete market here in India definitely we will be going out as well. But the priority right now is domestic and since domestic is anyways giving us the required quantum of growth.<\/p>\n

So there is no harm focusing on this. But yes, you know going outside India is definitely you know in our pipeline and we’ll be focusing on that as well.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay so my last question. Like we have a 4,000 crore pipeline, right. Can you tell me what percentage of that can be converted on the safer side in this financial year?<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

60%.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

60% financial<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

Year. No, no, that is basically. Yeah. So generally<\/p>\n

Sanjeev Sancheti<\/strong><\/p>\n

The conversion is about 60%. But this will fuel about one and a half to two years of you know.<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

Yeah.<\/p>\n

Sanjeev Sancheti<\/strong><\/p>\n

2018 to 24 months. So it’s not that all of the 60 will happen this year.<\/p>\n

Operator<\/strong><\/p>\n

Okay.<\/p>\n

Sanjeev Sancheti<\/strong><\/p>\n

Okay.<\/p>\n

Operator<\/strong><\/p>\n

May please request you to rejoin the queue sir for the follow up question.<\/p>\n

Sanjeev Sancheti<\/strong><\/p>\n

Thank you. Thank<\/p>\n

Operator<\/strong><\/p>\n

You. Ladies and gentlemen. In order to ensure that the management is able to address question from all the participants in the question queue please restrict yourself to One question only. Next question is from the line of Watson Agarwal from who is an retail investor. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Am I audible?<\/p>\n

Sanjeev Sancheti<\/strong><\/p>\n

Yes, yeah.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yes sir. But given the strong cash position on the balance sheet, can you explain the reason behind the increase in the short term borrowings? Because it appears counterintuitive.<\/p>\n

Ankit Kumar Singhal<\/strong><\/p>\n

So it’s not that there is a. The borrowings have some covenants. When we borrow the funds we have to maintain the borrowing period for some period of time and these are the numbers basis a reporting date. So there are RBI guidelines where the WCDLs are supposed to be maintained for certain period of time. So to avoid that, that’s why it’s coming here and we do have cash but we cannot settle the borrowings with them. So they are the commitments which are given to lender in the coordination with the RBA circulars.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

And secondly sir, I was just trying to understand the business segment. Can you please explain the difference between the private cloud business segment and the AI systems business segments?<\/p>\n

Hirdey Vikram<\/strong><\/p>\n

See, we have talked about it in the earlier quarters also. So the difference is just that private cloud is basically catering to a different side of the market wherein you know, where the convergence of compute network and you know, memory happens. Whereas the AI side of the market AI system is largely taking care of the AI workloads. If you are trying to know about what is the difference in the workload type from these two markets then the answer is this. And if you want to know about what is the difference in the, you know, from the business side of it that who all are the probable customers from the private cloud and who all are the probable customers from the EHSM site, then my I can basically further explain.<\/p>\n

I hope I have answered you that you know, the private cloud is largely for the convergence of compute network, you know and hyper converge in a put together in a single platform. That is for the private cloud and sei. Whereas AI system is largely meant for the purpose of AI workloads.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

No sir, because my question is that for data centers it should be in the AI systems business rather than the private cloud. If my understanding is correct,<\/p>\n

Hirdey Vikram<\/strong><\/p>\n

The data center assets, you know, see one thing is very clear that data center is assets which cuts across all the verticals for us product verticals. But largely data center is largely focused around the private cloud and NCI for us. Reason being that the data center workloads what we talk about are the workloads wherein the convergence of compute with the storage and the network put together happens. So that is basically dealt with dealt in case of private Cloud and sci. That’s the reason we don’t count it as part of AI system but we count it as part of private cloud cloud and that’s how these two are related.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thanks a lot. Thanks.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Next question is from the line of Rajiv from Wealth Wire. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello, I’m audible.<\/p>\n

Operator<\/strong><\/p>\n

Yes, please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah, so my first question is that as per what earlier participant had said that out of your total in total pipeline 60 would be converted and out of that some of the orders would be passed on to 12 years. So like did I hear that correctly?<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

I think basically what what we mentioned is. Basically what we mentioned is that the somebody asked us that pipeline cut, how much time will pipeline be converted? So pipeline is a very very dynamic situation which keeps on changing every day. So whatever, on the reported rate, whatever pipeline is, that pipeline normally gets 60% of it gets converted. But it takes around one and a half years, around 18 months to get converted. All of it, total of it.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, so just to<\/p>\n

Sanjeev Sancheti<\/strong><\/p>\n

Explain you, the conversion happens like every day, right? Right. What is saying that this pipeline which is sitting today may convert the hundred percent of may get converted by 1 1\/2 years but will happen in transfers and new pipeline will also keep entering into. This is a very dynamic thing, right? Pipeline someone will convert into order, some will go out of it, new pipeline will get entered. So this is a very dynamic situation.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. And your order book the amount is 20002400 including the N1. So ideally as per what I’m able to understand it like it’s like it gets executed in three to six months. Right. So the revenue visibility that like for this order book is three to six months only. Or am I missing something out in this?<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

Basically as I Our normally our shipping cycle is very different. Normal. Our. Our auto cycle is somewhere around 10 to 20 weeks. We normally ship out. Okay. It used to be 10 to 16 weeks but it can be 10 to 20 weeks. It can normally go up. But as you can strategic orders are concerned. We are not guiding on the execution. But basically what I said is that the static or strategic order should go in three next three quarters actually. Sure. And pace wise and as regards organic order book is concerned we feel that within 18, 18 to 20 weeks you should get built out.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, I’m sorry, can you bifurcate the strategic order and the. Your idle order to me? I’m sorry, like I mean that attachment is not.<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

Yeah, very clearly. 1600 crores is the strategic order. 472 crores is the organic order. And 327 crores is my L1. It is again, organic.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, okay, okay, okay. That was all she mentioned. Thank you, sir.<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Ladies and gentlemen. We’ll take this as a last question for the day. I now hand the conference over to the management for the closing comments.<\/p>\n

Sanjay Lodha<\/strong><\/p>\n

Thank you. Thank you for taking out time and joining us. Thank you so much. Appreciate your thanks a lot.<\/p>\n

Operator<\/strong><\/p>\n

Thank you, sir. On behalf of ICICI securities, that concludes this conference. Thank you all for joining us. And you may now disconnect your lines.<\/p>\n","protected":false},"excerpt":{"rendered":"

Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon. Netweb Technologies India Ltd. (NSE: NETWEB) Q4 2026 Earnings Call dated May. 04, 2026 Corporate Participants: Sanjeev Sancheti \u2014 Investor Relations Advisor Sanjay Lodha \u2014 Chairman and Managing Director Ankit Kumar Singhal \u2014 Chief Financial […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,10089],"class_list":["post-182261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":167148,"url":"https:\/\/alphastreet.com\/india\/netweb-technologies-india-ltd-q3fy25-15-rise-in-profits\/","url_meta":{"origin":182261,"position":0},"title":"Netweb Technologies India Ltd Q3FY25; 15% rise in Profits","author":"Chirag Gupta","date":"February 28, 2025","format":false,"excerpt":"Incorporated in 1999, Netweb Technologies India (NTI) is one of India\u2018s leading high-end computing solutions (HCS) providers, with fully integrated design and manufacturing capabilities. Financial Results: Netweb Technologies India Ltd reported Revenues for Q3FY25 of \u20b9334.00 Crores up from \u20b9253.00 Crore year on year, a rise of 32.02%. Total Expenses\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/2-18.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/2-18.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/2-18.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/2-18.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/2-18.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/02\/2-18.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":160794,"url":"https:\/\/alphastreet.com\/india\/netweb-technologies-india-ltd-q4-fy24-earnings-conference-call-insights\/","url_meta":{"origin":182261,"position":1},"title":"Netweb Technologies India Ltd. Q4 FY24 Earnings Conference Call Insights","author":"Praveen","date":"May 3, 2024","format":false,"excerpt":"Key highlights from Netweb Technologies India Ltd. (NETWEB) Q4 FY24 Earnings Concall Financial Performance Achieved highest ever quarterly and annual income and profits. Operating income grew 115.5% Y-o-Y for Q4 and 62.7% for FY24. Operating EBITDA up 166.5% Y-o-Y in Q4, 46.4% in FY24 (INR 404 million in Q4, INR\u2026","rel":"","context":"In "Concall Highlights"","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":142292,"url":"https:\/\/alphastreet.com\/india\/kpr-mill-ltd-kprmill-q3-fy23-earnings-concall-transcript\/","url_meta":{"origin":182261,"position":2},"title":"KPR MILL LTD (KPRMILL) Q3 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"February 21, 2023","format":false,"excerpt":"KPR MILL LTD (NSE:KPRMILL) Q3 FY23 Earnings Concall dated Feb. 7, 2023. Corporate Participants: P L Murugappan\u00a0--\u00a0Chief Financial Officer Analysts: Abhishek Nigam\u00a0--\u00a0B&K SECURITIES -- Analyst Kapil Jagasia\u00a0--\u00a0Nuvama -- Analyst Muthu Kumar\u00a0--\u00a0Fidelity Ventures -- Analyst Unidentified Participant\u00a0--\u00a0-- Analyst Presentation: Operator Ladies and gentlemen, good day and welcome to the KPR Mill\u2026","rel":"","context":"In "Consumer"","block_context":{"text":"Consumer","link":"https:\/\/alphastreet.com\/india\/category\/consumer-stocks\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":144937,"url":"https:\/\/alphastreet.com\/india\/kuantum-papers-ltd-kuantum-q4-fy23-earnings-concall-transcript\/","url_meta":{"origin":182261,"position":3},"title":"Kuantum Papers Ltd (KUANTUM) Q4 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"May 4, 2023","format":false,"excerpt":"Kuantum Papers Ltd (NSE:KUANTUM) Q4 FY23 Earnings Concall dated May. 03, 2023. 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(NETWEB) Q3 2025 Earnings Call Transcript","author":"News desk","date":"January 22, 2026","format":false,"excerpt":"Netweb Technologies India Ltd. 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(NETWEB) Q2 2025 Earnings Call Transcript","author":"News desk","date":"January 22, 2026","format":false,"excerpt":"Netweb Technologies India Ltd. (NSE: NETWEB) Q2 2025 Earnings Call dated Oct. 21, 2024 Corporate Participants: Sanjeev Sancheti \u2014 IR Advisor Sanjay Lodha \u2014 Chairman & Managing Director Prawal Jain \u2014 Chief Financial Officer & Chief Human Resource Officer Hirdey Vikram \u2014 Chief Sales and Marketing Officer Analysts: Hardik Rawat\u2026","rel":"","context":"In "Earnings Call Transcripts"","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/182261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/2377"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=182261"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/182261\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/147581"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=182261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=182261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=182261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}