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24 Companies leading innovation in the Semiconductor industry with a strong demand fueled by technological advancements.

22 September 2024 by
Gurukrupa Trading Company, Omkar Bomble

1) Moschip Technologies Ltd: (₹ 2,999 Cr) A leading Indian semiconductor design services company, offers turnkey ASIC and IP design, expanded its North American client base post-2G to 4G transition, and strengthened its Embedded System Design capabilities with Softnautics Inc's acquisition in FY23, while also pursuing smart meter chip development through the DLI scheme.


2)  ASM Technologies Ltd: (₹ 1,299 Cr) Company specializes in offering consulting and product development services in engineering and product R&D, operating a joint venture with HHV Group for cutting-edge semiconductor equipment manufacturing, and recently acquired Semcon Engineering UK Ltd in November 2023 to enhance its international presence.

3)  RIR Power Electronics Ltd: (₹ 1,379 Cr) RIR, a leader in Power Electronics with over 53 years of experience, is the only private-sector producer of Semiconductor devices from the diffusion stage, offering a diverse range from low to high-power devices and IGBT Modules.  In November 2023, it secured a substantial ₹ 5.1 bn investment from the Odisha government to establish a cutting-edge Silicon Carbide (SiC) device manufacturing facility and gained full ownership of Visicon Power Electronics Private Limited, specializing in SiC wafer and power electronic device production via the Epitaxial process.


4)  Vedanta Ltd: (₹ 1,54,506 Cr) Company announced plans to add semiconductor and display glass manufacturing to its portfolio by building a semiconductor and display fabrication plant in Dholera, Gujarat, aiming for commercial production of semiconductors in 2027 and displays in 2026.


5)  Cyient Ltd: (₹ 19,944 Cr) Company offers engineering and design services for the semiconductor industry, specializing in VLSI design, product engineering, automated software solutions, enhancing efficiency and accelerate market entry.

6)  Ami Organics Ltd: (₹ 4,393 Cr) Company is acquiring a 55% stake in Baba Fine Chemicals, a renowned manufacturer of custom specialty chemicals catering to the semiconductor industry. It's also planning capex deployment for its Ankleshwar facility and electrolyte business.

7)  Kaynes Technology India Ltd: (₹ 16,142 Cr) Company signed an MoU with the Government of Telangana and raised ₹14 billion to establish Outsourced Semiconductor Assembly and Testing (OSAT) as well as Compound Semiconductor manufacturing facilities.


8) VL E-Governance & IT Solutions Ltd: (₹ 656 Cr) Company signed an MoU with Wafer Lead Pte Ltd (Singapore) to collaborate on the joint business of Silicon Carbide and 3rd generation semiconductors design and engineering.


9)  Amber Enterprises India Ltd: (₹ 13,373 Cr) Amber Group partners with Korea Circuit, part of Young Poong Group, through "Ascent Circuits" to produce Flex, HDI, Semiconductor substrates PCBs in India.


10)  Centum Electronics Ltd: (₹ 2,667 Cr) Company designs and manufactures microelectronics modules, frequency control products, PCB assemblies, and resistor networks for semiconductor applications.


11) Chemcon Specialty Chemicals Ltd: (₹ 925 Cr) Company specializes in manufacturing chemicals, including HMDS and CMIC for the pharmaceutical industry, inorganic bromides for the oilfield industry, with potential semiconductor applications for high purity HMDS, aiming for a breakthrough in the semiconductor sector pending successful testing.


12) Astra Microwave Products Ltd: (₹ 6,464 Cr) The company serves as a strategic partner for businesses engaged in contract semiconductor manufacturing.


13)  Va Tech Wabag Ltd: (₹ 5,855 Cr) VA Tech Wabag, a water tech leader, is expanding into semiconductor and bio-CNG sectors due to the high water demand in semiconductor production. They've supplied pure water to a semiconductor facility and are exploring more opportunities in this field. 


14)  Spel Semiconductor Ltd: (₹ 709 Cr) SPEL is India’s first and only semiconductor IC (Integrated Circuit) Assembly & Test facility based in Chennai. It offers packaging solutions for semiconductors used in diverse end-market applications, including communications, consumer electronics, computing, industrial & automotive.


15)  MIC Electronics Ltd: (₹ 1,070 Cr) MIC is a top player in telecom equipment, now entering the EV market with new chargers, while also playing a critical role in the semiconductor industry, as evidenced by recent orders predominantly in railways and semiconductor chips, showcasing significant growth in the past six months. 


16)   Tata Elxsi Ltd: (₹ 44,289 Cr) Tata Elxsi is a major player in designing systems and software for industries like semiconductors, and is partnering with Renesas Electronics to set up a design center in Bangalore for electric vehicles, utilizing Renesas' new NB-IoT chipset RH1NS200, suitable for diverse applications.


17)  Grindwell Norton Ltd: (₹ 23,417 Cr) The company conducts its Silicon Carbide operations via its subsidiary, Saint-Gobain Ceramic Materials Bhutan Pvt Ltd, located in Bhutan.


18)  HCL Technologies Ltd: (₹ 3,65,816 Cr) It is expanding its semiconductor presence through a significant investment in assembly and testing facilities and moving towards establishing an Outsourced Semiconductor Assembly and Test facility in Karnataka. Partnering with Foxconn in Taiwan, HCL strategically utilizes its chip design expertise and partnerships to leverage semiconductor market growth, enriching India's ecosystem with funds, technology, and supply chain prospects.


19)  Gujarat Fluorochemicals Ltd: (₹ 39,333 Cr) Within its Fluoropolymers Vertical, the company manufactures PTFE, primarily catering to the Electronics & Semiconductors industry.


20)  Praj Industries Ltd: (₹ 9,943 Cr) Company offers Hi Purity Water, Modular Process Solutions & Value-Added Services across Pharma, securing its first semiconductor sector order for ultra-high purity water in FY23. Semiconductor capacity creation drives demand for high-purity water solutions.


21)  Larsen & Toubro Ltd: (₹ 4,81,107 Cr) L& T has launched a new subsidiary called L&T Semiconductor Technologies Limited for semiconductor design, marking a strategic move into the semiconductor industry. They've also completed their first 1MW electrolyser manufacturing pilot project.


22)  Tejas Networks Ltd: (₹ 18,616 Cr) Company received ₹32.66 crore under the PLI Scheme for Telecom and Networking Products, while Saankhya Labs got approval under the Semiconductor Design Linked Incentive (DLI) scheme for developing a 5G Telecom infrastructure equipment System-on-Chip (SoC).


23)  Shivalik Bimetal Controls Ltd: (₹ 3,349 Cr) The company specializes in semiconductor-grade material joining methods like Diffusion Bonding, Electron Beam Welding, Solder Reflow, and Resistance Welding. 


24)  Taylormade Renewables Ltd: (₹ 658 Cr) Company provides renewable energy solutions, focusing on issues like treated input water for green hydrogen and semiconductor manufacturing. 



Disclaimer: The above data should not be considered as a Buy or Sell recommendation. The analysis has been done for educational and learning purpose only.





Gurukrupa Trading Company, Omkar Bomble 22 September 2024
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