Dear Shareholders,
As we commemorate 25 glorious years of Netweb, I am filled with immense
pride and gratitude. Reflecting on our journey from a modest beginning to becoming a
leader in high-end computing, we recognise this milestone as a testament to the unwavering
faith of our customers along with our steadfast commitment to innovation, quality, and
customer-centricity.
Our achievements stem from the steadfast commitment and exceptional
expertise of our team.
Every member's relentless effort has been pivotal in propelling
Netweb to its current leadership position. Their commitment to excellence has been the
driving force behind our continuous innovation and sustained growth. This year, we
achieved a significant milestone with our successful Initial Public Offering
(IPO), positioning us as an exclusive entity in the listed space. This
accomplishment not only underscores our robust business model but also opens new avenues
for growth and enhanced shareholder value.
The technology space is experiencing unprecedented growth, fuelled by
advancements in artificial intelligence
(AI), cloud computing, and High-Performance Computing (HPC). India is
rapidly emerging as a leader in AI adoption, with businesses increasingly leveraging AI to
drive innovation and operational efficiency. These industry tailwinds create a fertile
ground for innovation and expansion, and Netweb is uniquely positioned to harness these
opportunities. Our strategic focus on three pillars — HPC, Private Cloud, and AI,
ensures that we are at the forefront of technological evolution. These pillars are the
cornerstones of our growth strategy, enabling us to deliver cutting-edge solutions that
meet the dynamic needs of our global clientele.
Netweb has consistently focused on developing products that embrace the
"Make-in-India" initiative of the Government of India (GOI). As a result, back
in 2021, we bagged an award from the Ministry of Electronics and IT (MeitY) for our
contributions to server manufacturing in India and were selected for IT Hardware PLI 2.0
as well. Our path-breaking innovations in Data Centre server capabilities have enabled us
to manufacture server systems suitable for building Private Cloud solutions,
High-Performance Computing clusters, and modern Data
Centres. Such innovations are reflected through notable deployments of
state-of-the-art supercomputing facilities at India's leading organisations with a
unique blend of HPC, Big Data, AI, and Cloud Infrastructure. Netweb is proud to be a
select Indian OEM eligible for the Production Linked Incentive (PLI 2.0) Schemes for IT
Hardware as well as networking and telecom products. The PLI 2.0
Scheme for IT Hardware, effective from May 2023, aims to enhance
India's manufacturing ecosystem by promoting in-house design and surface mounting
technology, reducing dependence on imports. This initiative supports the growing demand
from new Data Centres in India for Private Cloud and Data Centre Compute-Storage
solutions. The IT Hardware PLI emphasises growth through incentives and a milestone-based
structure, signalling the government's commitment to making India a global
manufacturing hub and ensuring reliable IT hardware production for both domestic and
international markets. Furthermore, the component oriented IT Hardware PLI Scheme
incentivises the production of critical components like semiconductor design, IC
manufacturing, and packaging, aiming to bolster self-reliance and overall sectoral growth
in India.
In the AI space, we are deeply aligned with the Government of
India's AI Mission. Our recent AI Supercomputer ‘AIRAWAT', installed at
C-DAC Pune, has been ranked 75th in the world, placing India among the top AI
supercomputing nations globally. AIRAWAT AI supercomputer, recognised in the 61st
edition of the Top 500 Global Supercomputing List released in June 2023, stands as
India's largest and fastest AI supercomputing system with a remarkable speed of
13,170 teraflops
(Rpeak). Notably, three of Netweb's Supercomputers and AI Systems
have been listed 13 times in the world's top 500 Supercomputers. Our innovations in
the AI domain over the last decade have clearly paved the way for our progress and have
been instrumental in establishing AI as the third pillar of our business.
We are excited about our strategic partnership with NVIDIA, a leader in
AI products and solutions. This collaboration enables us to produce a range of AI Systems
under our Tyrone brand, utilising NVIDIA's advanced technologies. Our AI Systems,
powered by NVIDIA's MGX platform, are designed to handle complex workloads in HPC,
data science, large language models, edge computing, and enterprise AI. This partnership
not only enhances our product capabilities but also boosts the "Make-in-India"
mission by bringing cutting-edge technologies in India to locally manufacture AI Systems
of global standards.
Netweb is proudly rooted in India, yet our ambitions and impact extend
globally. Our recently commissioned state-of-the-art facility in Faridabad exemplifies our
investment in best-in-class technology, research and development, and world-class
manufacturing infrastructure. This positions us to meet the increasing demands of the Data
Centre, AI Systems, and Private Cloud markets. The facility underscores our commitment to
innovation and delivering unparalleled value to our customers.
India's Data Centre demand landscape is evolving rapidly, offering
opportunities. Furthermore, the BFSI sector is experiencing a notable rise in demand for
Data Centre Servers as digital transformation and contactless payments become more
prevalent. This movement is prompting banks and financial institutions to invest in
upgraded Data Centre infrastructure to ensure secure and efficient data processing and
operations.
Operationally and financially, this year has been remarkable. We have
achieved significant milestones, and our robust financial health reflects our strategic
acumen and operational excellence. The recent IPO has enabled us to invest in new
facilities and expand our capabilities, ensuring we continue to lead in high-end computing
solutions.
Looking ahead, our strategy remains focused on leveraging our strengths
in HPC, AI, and cloud solutions to drive growth. Our strategy is built on strong top-line
visibility and enhanced capabilities, highlighted by the commissioning of a
state-of-the-art manufacturing facility equipped with a cutting-edge design centre and
Surface-Mount Technology (SMT). Our partnership with NVIDIA as a select manufacturing OEM
for the latest Gen AI Systems will unlock the potential of AI and High-Performance
Computing. We have launched "Make-in-India" high-end computing Servers based on
Intel Sapphire Rapids and AMD Genoa platforms. Further, we have recently launched
Enterprise Grade Network Switches, adding strength to our already strong product
portfolio. We continue to expand our product portfolio with new product lines such as
on-prem AI sovereign cloud solutions and catering to the growing demand for generative AI
infrastructure. We are also planning to extend our reach into Europe and the Middle East,
starting with establishing service networks in a few select countries in the region.
As we move forward, I extend my heartfelt gratitude to our
shareholders, employees, partners, and customers for their unwavering support and trust.
Together, we will continue to push the boundaries of technology and achieve new heights of
success.
Thank you for being an integral part of our journey.
Warm regards,
| SANJAY LODHA |
| Chairman and Managing Director, |
| Netweb Technologies India Limited |