The company released impressive financial results for the quarter that ended in March and for the entire fiscal year twenty-four, which sparked this spike in the stock price. The favorable result has improved investors’ perception of the business and increased the stock price.
Netweb Technologies, a well-known supplier of high-end computing solutions (HCS) in the nation, is continuing to gain ground as its shares, which closed at ₹1852 on Friday, crossed the 5% upper circuit limit for the second straight session. With only a 2% difference, this puts them very close to their all-time high of ₹1892.
Company Achieves Record-Breaking Quarterly and Annual Financial Performance
With revenue of ₹269 crore, the company reported its highest-ever quarterly revenue, indicating an astounding 116.5% growth over Q4 FY23. Furthermore, with an EBITDA margin of 16.4%, it reported its highest-ever quarterly EBITDA of ₹44.4 crore, indicating a spike of 170.6% over Q4 FY 23.
With a PAT margin of 11.0%, profit after tax also hit an all-time high of ₹29.7 crore, a notable increase of 181.8% over Q4 FY 23. The company reported its highest-ever revenue, EBITDA, and PAT for the full fiscal year (FY24), coming in at ₹7,36 crore, ₹114.4 crore, and ₹75.9 crore, respectively.
Also Read: Shares Skyrocket to Lifetime High Despite 120% Rally in One Year; Are You Missing Out?
Stock Soar on Remarkable Growth Trajectory
To fully utilize high-performance computing and AI, the company teamed up with NVIDIA in FY 24 as a select manufacturing OEM for the newest AI systems. Additionally, it introduced high-end computing servers that are “Made in India” and powered by AMD Genoa and Intel Sapphire Rapids.
The shares have had an incredible run of success over the last six months. They have gone from trading at ₹749 a share to ₹1852, which is a significant gain of 147%. In July of last year, the shares debuted on the Indian stock exchanges, opening at ₹947, an impressive 89.4% premium over the ₹500 IPO price per share. The stock is trading 270% above its IPO price when taking into account the current market price.
Netweb Technologies: Pioneering High-Performance Computing Solutions with Indian Innovation
Known for its high-performance computing systems (HCS), Netweb Technologies is an OEM with Indian roots. They provide high-performance storage (HPS) solutions, data center servers, AI systems, enterprise workstations, supercomputing systems, private cloud, and hyper-converged infrastructure (HCI).
The company is well-known for creating its own storage and processing technologies. Utilizing primarily India’s National Supercomputing Mission, they install supercomputing infrastructure to meet the expanding computational demands of enterprises, academic institutions, and research labs. Three of their supercomputers have been listed in the top 500 supercomputers worldwide eleven times, which is noteworthy.
