Contract manufacturing marketplace Zetwerk Manufacturing Businesses achieved gross merchandise value (GMV) of ₹5,718 crore for the year ended March 31, 2022 (FY22), a six-fold growth over the year-ago period.
The company's operating revenue grew six-fold to ₹4,961 crore in FY22 from ₹835 crore in FY21.
The company said healthy company fundamentals and a well-executed business diversification strategy helped it boost its GMV.
The company pointed out that after the supply chain disruptions due to Covid-19 over the last two years, customers are increasingly preferring reliability and transparency in their supply chains, leading to an increased demand for Zetwerk's services.
Revenue from the Industrials segment contributed 70% to the total revenue. The consumer segment accounted for 30%. The International revenue accounted for 16% of the business, the rest coming from the domestic market.
Zetwerk recorded its first full year of operational profitability, recording ₹57 crore of EBITDA from operations and (-) ₹42 crore 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% over the previous year.
The company's management is optimistic about the prospects of the Indian economy.
"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," said the management.