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Zetwerk reported estimated operating revenue of ₹15,900 Cr in FY26, a 24% jump from ₹12,800 Cr in FY25. Operating margin remained thin at about 2.6%. An order book of over ₹12,000 Cr supports growth. CRISIL assigned an 'A-/Negative' rating to Zetwerk's proposed ₹500 Cr NCD issue.
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