E2E Networks

Covered by Minerva Capital Research SolutionsNSE: E2EBSE: 544783
Compare with peers
₹ 536.80▼ 27.85 (−4.93%)28 Oct, 03:29 pm IST
Market cap
₹ 11,616 Cr.
P/E
99.2x
P/B
7.27x
52-week range
183.36 – 765
ROE
−1%
ROCE
−1%
Dividend yield
0%
Debt / equity
0.09
Sector
IT - Services
Industry
IT Enabled Services
Listed on
NSE, BSE
Our research
1 report

About

E2E Networks Limited is an India-based accelerated pureplay cloud computing company. The Company provides accelerated cloud which supports machine learning applications and other critical workloads. Its cloud infrastructure is used for workloads in various fields ranging from data science, NLP, computer vision / image processing, various digital native workloads and traditional enterprise workloads. The Company provides cloud infrastructure services through its cloud platform, which can be accessed via its self-service portal. It enables customers to provision/manage and monitor Linux/Windows/GPU Cloud Machines with high performance central processing unit (CPU), large memory (RAM) or Smart Dedicated Compute featuring dedicated CPU cores. Its products include CPU Intensive Cloud; High Memory Cloud; Linux Smart Dedicated; cPanel Linux Cloud; Windows Cloud; Windows SQL Cloud; Plesk Windows Cloud; GPU Smart Dedicated, and Load Balancer.

Quick check

The five things to look at first. Open one for more.

Compared with its industry

IT Enabled Services: 107 companies →

E2E Networks against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

  • Valuation (P/E)99.2 against a typical 24.9: pricier than most peers (1st = cheapest).90th of 106
  • Sales growth+409.1% against a typical +20.8% from a year earlier.1st of 85
  • Share price, 3 months+14.9% against a typical −10%.17th of 93
  • Size₹ 11,616.5 Cr. market value against a typical ₹ 206.6 Cr. (1st = largest).11th of 100

Latest announcements

Exchange filings and their impact on the company.

  • 26 Oct 2026Capacity additionLow impactPositivePrice +5% that day
    E2E proposes capacity expansion but discloses no size, cost or timeline.

    E2E Networks informed the exchanges on October 26, 2026 that it proposes to expand its capacity under SEBI Regulation 30. The filing refers to Annexure-1 for details, but no investment amount, capacity size or timeline was available in the disclosure. It therefore signals growth intent in its cloud and GPU infrastructure business, but investors cannot yet assess scale or funding impact.

    Filing
  • 21 Oct 2026Analysts/Institutional Investor Meet/Con. Call UpdatesHigh impactVery positivePrice −5% on 22 Oct
    Record Q2 with 411% revenue growth and Rs 1000 cr multi-year Blackwell contract locks in high-margin growth.

    E2E Networks reported a strong Q2 FY27 with revenue of Rs 223.8 crore, up 411% year-on-year and 43% quarter-on-quarter, EBITDA of Rs 171.5 crore at 76.6% margin and profit of Rs 72.7 crore. Management said a nearly Rs 1000 crore Sovereign AI deal for the Blackwell cluster runs through June 2029 and the next 1024 B200 GPUs should go live this quarter. The company expects to stay aggressive on capacity and platform investment while targeting 70% plus EBITDA margins.

    Filing
  • 16 Oct 2026Monitoring Agency ReportHigh impactPositivePrice −5% on 19 Oct
    Rs 1,079 cr fundraise fully deployed into GPU capacity 3 years early, with Rs 430 cr more B200 servers lined up.

    E2E Networks filed CARE Ratings monitoring reports for Q2FY27. The Rs 1,079.28 crore preferential issue is now fully utilized - Rs 878.4 crore for IT equipment, Rs 100 crore for loan repayment and Rs 100 crore for working capital - with Rs 30.25 crore spent in the quarter. The Rs 107 crore QIP from February 2026 is largely unspent, with Rs 102.43 crore parked in liquid funds and bank deposits, some pledged for a Rs 430 crore letter of credit to buy NVIDIA HGX B200 servers. This confirms the GPU cloud capacity build is complete ahead of plan and more expansion is lined up.

    Filing
  • 16 Oct 2026Outcome of Board MeetingMedium impactPositivePrice −2.3% that day
    Q2 results approved and L&T board seat continuity maintained, supporting continued high-growth execution.

    E2E Networks board on October 16, 2026 approved unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026. It also noted resignation of L&T nominee Shrimati Ambastha effective October 12 and appointed Krishnan Mahesh as L&T nominee Additional Director effective October 16. The L&T board continuity preserves strategic backing while the results confirm the company's high-growth scale-up, implying higher revenue and profit over the next year.

    Filing

Research by Minerva Capital Research Solutions

Our research team's work on E2E Networks

In our sector reports

Sector note · 30 Jun 2025 · Free

An AI-focused hyperscale cloud platform offering advanced cloud GPUs and cloud technologies for AI, ML and GenAI workloads. Its listed XIRR return is 98.3%.

Business and Financial Highlights

  • Growth: Operating Revenue was 164 in FY25 and PAT was 48; the report gives FY22 to FY25 CAGRs of 46.8% and 94.6%, respectively.
  • Margins: EBITDA % was 59.0% and PAT % was 23.4% in FY25.
  • Cash and debt: Total Debt was 73, Debt / Equity was 0.05x and Cash & Bank Bal. was 1,357 in FY25.

Standard disclosures

  • Research Analyst has served as an officer, director or employee of subject company(ies): No
  • We or our associates have received compensation from the subject company(ies) in the past 12 months: No
  • We or our associates have managed or co-managed public offering of securities for the subject company(ies) in the past12 months: No
  • We or our associates may have received compensation for investment banking or merchant banking or brokerage services from the subject company(ies) in the past 12 months –No
  • We or our associates may have received compensation or other benefits from the subject company(ies) or third party in connection with the research report –No
  • We or our associates or Research Analyst or his/her relative's financial interest in the subject company(ies)- No
  • Nature of financial interest in subject company, if any –Nil
  • We, our associates or Research Analyst have actual/beneficial ownership of 1% or more securities of the subject company (ies) at the end of the month immediately preceding the date of publication of Research Report – No
  • Subject company (ies) may have been client during twelve months preceding the date of distribution of the research report-No.
  • We or our Associates or Research Analyst are engaged in market making of subject company – No
  • By referring to any particular sector, Minerva Capital Research Solutions does not provide any promise or assurance of favorable view for a particular industry or sector or business group in any manner. The investor is requested to take into consideration all the risk factors including their financial condition, suitability to risk return profile and take professional advice before investing. Such representations are not indicative of future results.
  • There are either no material conflict of interests or all existing and potential conflict of interest are disclosed herein.

Regulatory disclosures

Minerva Capital Research Solutions is an independent investment advisory firm founded by Nishant Gupta(SEBI registration no. INH000018896).

Registration granted by SEBI and certification from NISM in no way promise or guarantee that the research recommendation will provide any assured, minimum or risk-free return to the investors.

The research report serves as general information and does not account for individual investment goals, financial situations, or needs. Minerva Capital Research Solutions strives to provide reliable and comprehensive information, sourced from what are believed to be trustworthy channels. However, this information has not been independently verified by Minerva Capital Research Solutions or its analysts, and no guarantees are made regarding its accuracy or completeness. The opinions expressed in this report reflect the views of the research analyst at the time of publication and may change over time. Minerva Capital Research Solutions and its affiliates as on date of publication of this report may or may not hold any positions in the securities discussed. The views presented are general and do not consider individual risk tolerance or investment objectives; therefore, readers should seek independent professional advice before making investment decisions. Minerva Capital Research Solutions does not guarantee a favorable outlook for any specific industry or sector and urges investors to consider all relevant risk factors, including their financial circumstances, before investing. The analyst certifies that their views accurately represent their personal opinions on the companies discussed and that no part of their compensation is tied to specific recommendations made in this report. This material should not be interpreted as an offer or solicitation to buy or sell securities in jurisdictions where such offers would be illegal. Consequently, brokerage and investment services described herein are not available to Canadian or U.S. persons. Distribution outside India requires prior written consent. This Research Report assumes that the recipient will assume all risks associated with its contents. If there are any disagreements or dissatisfaction with this report or its disclaimer, the only recourse is to cease using it. Minerva Capital Research Solutions and its affiliates will not be liable for any direct or indirect losses resulting from the use of this report. Recipients are required to adhere to these restrictions. The material is for the personal use of authorized individuals and does not constitute a solicitation or offer to buy or sell any securities in jurisdictions where such actions would be illegal.

For any queries or grievances: Mr. Nishant Gupta | Email: nishant.gupta@mcapital.in | Contact Number: 8171433387 | Website: www.mcapital.in | Twitter: @Mcapital_In

Rating rationale

Minerva Capital Research Solutions endeavors to provide objective opinions and recommendations. Ratings are assigned to stocks according to their fair value vs current market price and then categorizes them as Buy, Hold, Reduce, Sell. The performance horizon is one year unless specified and fair value is defined as analyst’s valuation for a stock.

  • Buy:> 15%
  • Hold: -5% to 15%
  • Reduce: -15% to -5%
  • Sell: <-15%

Board meetings

Results dates and other board meetings. Full calendar

Details
16 Oct 2026Financial ResultsTo consider and approve the financial results for the period ended September 30, 2026
21 Jul 2026Financial ResultsTo consider and approve the Un-audited standalone and consolidated financial results (with limited review report) for the period ended Jun 30, 2026
20 Apr 2026Financial Results/Stock SplitTo consider and approve the financial results for the period ended March 31, 2026 and Proposal for alteration in the share capital of the Company by way of sub-division/split of the existing equity shares
15 Jan 2026Financial ResultsTo consider and approve the Un- Audited financial results for the quarter ended December 31, 2025
11 Nov 2025Financial ResultsIntimation of Board Meeting to consider and approve the Unaudited Standalone Financial Results of the Company for the quarter and half year ended September 30, 2025, and to discuss other agenda items.
29 Sep 2025Fund RaisingIntimation of the meeting of the Board of Directors of E2E Networks Limited under Regulation 29(1)(d) of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, as amended (SEBI Listing Regulations)

Share price

1M change −14.24%
1 of 4 filing days came with a big price moveBiggest −2.3% on 16 Oct 2026AI reading matched the move 0 of 1
Volume (shares)Price (₹)
Close price

Financials

Consolidated figures in ₹ crore.

Quarterly results
₹ Cr.Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales24294148423336447096157224
Expenses131414161720262630383952
Operating Profit11152731251311184058118171
OPM %47%52%66%66%59%40%29%41%57%61%75%77%
Other Income10011325158551110
Interest12344222541010
Depreciation4811131819274348516174
Profit before tax7614161618−4−18−895997
Tax %25%37%25%25%25%23%−24%−27%−24%25%25%25%
Net Profit6410121214−3−13−664473
EPS in Rs0.390.240.70.720.580.68−0.14−0.67−0.280.312.133.54

Growth and returns

Compounded yearly rates over each period.

Compounded Sales Growth
10 Years
28%
5 Years
47%
3 Years
55%
TTM
252%
Compounded Profit Growth
10 Years
—
5 Years
—
3 Years
—
TTM
1,218%
Stock Price CAGR
10 Years
—
5 Years
166%
3 Years
142%
TTM
—
Return on Equity
10 Years
3%
5 Years
3%
3 Years
2%
TTM
—

Shareholding

Latest: Sep 2026.

Promoters
39.4%
−0.95 pts in a year
FIIs
2.53%
+0.05 pts in a year
DIIs
5.64%
+1.57 pts in a year
Public
52.38%
−0.14 pts in a year
Others
0.05%
+0.05 pts in a year

P/E and EPS over time

Daily P/E and trailing 12-month EPS. EPS updates with each result.

P/E 99.2xEPS (12 months) ₹ 5.70Median P/E 54.5x
P/E (times)EPS (₹)

Peers

Listed companies in the same business.

Peer comparison
E2E Networks₹ 536.80₹ 11,616 Cr.99.2x7.3x−1%—
Eternal₹ 317.00₹ 3,05,916 Cr.734.9x8.5x1.2%0.7%
Wipro₹ 189.75₹ 1,87,946 Cr.13.6x2.1x16.1%14%
Info Edge (India)₹ 1,184.60₹ 76,812 Cr.44x2x4%53.7%
Tata Technologies₹ 656.85₹ 26,672 Cr.49.3x7.8x—9.4%
Netweb Technologies India₹ 4,343.00₹ 25,818 Cr.116.9x33.4x32.8%9.4%

Management

Tarun Dua
Chairman of the Board, Managing Director
Ronit ..
Compliance Officer, Company Secretary
Srishti Baweja
Whole-Time Director
Megha Raheja
Whole-Time Director
Bakshish Dutta
Chief Business Officer

Prices are delayed and for information only. Nothing on this page is investment advice.