Public markets-bound contract manufacturing startup Zetwerk’s operating income is estimated to have risen to Rs 15,900 crore in 2025-26, up from Rs 12,800 crore in the previous year, according to Crisil Ratings.
The estimate for the company’s continuing business is also higher than the Rs 14,444 crore operating income Zetwerk reported for 2023-24. In 2024-25, its revenue declined as it cut back on lower-margin and riskier businesses. The ratings agency also said that Zetwerk exited non-profitable segments and began reducing its exposure to civil infrastructure projects during the year.
