ICICI Securities gives Netweb buy after Q1 revenue jumps 172%

Business Jul 30, 2026

ICICI Securities just gave Netweb Technologies India a buy rating, setting a target price of ₹5,360.

The call comes after Netweb Technologies India's Q1 FY27 results blew past expectations, with revenue jumping 172% year-over-year, thanks mostly to its High-Performance Computing/AI and Electronics Warfare segments.

Pipeline ₹104.1bn and IndiaAI ₹4,300m deal

Netweb's order pipeline hit ₹104.1 billion, up 151% from last year, and it landed a huge IndiaAI mission deal worth ₹4,300 million in Q1 FY27.

Strong supplier partnerships have helped the company deliver even better results.

Because of improved margins and performance, ICICI Securities has bumped up its valuation basis to a forward P/E of 66 times and raised earnings estimates for the next two years.