Zetwerk Manufacturing Records GMV Of INR 5,718 Crore
The supply chain disruptions due to Covid-19 paved the way for increased demand of Zetwerk's services
Zetwerk Manufacturing Businesses registered gross merchandise value of INR 5,718 crore in the quarter ended 31 March, 2022. The company's operating revenue grew six-fold to INR 4,961 crore during the period under review compared with INR 835 crore in the year-ago period.
The supply chain disruptions due to Covid-19 paved the way for increased demand for Zetwerk's services.
Revenue from the industrials segment contributed 70 per cent to the total revenue. The consumer segment accounted for 30 per cent. The international revenue accounted for 16 per cent of the business, the rest coming from the domestic market.
"The Indian economy has emerged as a bright spot in the post-pandemic world, and signs of that are visible across macroeconomic indicators, including GDP growth. Improved public spending, business-focused policy interventions and strong domestic demand will continue to fuel India's growth in the medium term. The central government's focus on higher levels of localization and self-reliance in the manufacturing and infrastructure sectors will boost employment. It will further the need for a robust, globally competitive supply chain," said the company in a statement.
Additionally, Zetwerk witnessed its first full year of operational profitability, recording INR 57 crore of EBITDA from operations and INR 42 crore loss factoring in non-cash ESOP expenses, per Indian accounting standards.
The Company secured orders worth ₹11,200 crore at the group level during the year ended March 31, 2022, an increase of 200 per cent over the previous year.
"Zetwerk has chalked out a detailed strategic plan to leverage the opportunities that the Indian market has to offer. Over the next 12 months, we see three strong themes emerging for Indian manufacturing," the company statement added.
Zetwerk, a managed marketplace for contract manufacturing, partners with industrial and consumer enterprises to get their products manufactured via a global network of small manufacturers, where Zetwerk helps with supplier selection, pricing and fulfillment of orders. Zetwerk offers manufacturing solutions across a diverse range of industries such as oil & gas, renewables, aerospace, infrastructure, apparel, electronics and retail.