India’s semiconductor industry continues to attract attention as demand from artificial intelligence, data centres, automobiles and electronics manufacturing drives growth.
According to the report, India’s semiconductor market was valued at $45-50 billion in FY25 and has grown at a 20% CAGR over the last three years. The market is projected to reach $120 billion by 2030 and $300 billion by 2035.
The report also estimates investments of more than $50 billion over the next five years, followed by another $75-80 billion between 2030 and 2035. Around 2 million jobs could be created by 2035.
Against this backdrop, several listed companies with exposure to the semiconductor ecosystem reported strong quarterly numbers.
1. IZMO Ltd
Business
Based in Bengaluru, IZMO Ltd provides digital solutions for the automotive industry. Through its subsidiary Izmo Microsystems, the company has expanded into semiconductor-related technologies, including advanced chip packaging and silicon photonics.
Q4 FY26 performance
Revenue from operations
- Q4 FY26: ₹109 crore
- Q4 FY25: ₹60 crore
- YoY growth: 81.7%
- Q3 FY26: ₹59 crore
- QoQ growth: 84.7%
Net profit
- Q4 FY26: ₹17 crore
- Q4 FY25: ₹7 crore
- YoY growth: 142.9%
- Q3 FY26: ₹12 crore
- QoQ growth: 41.7%
Key ratios
- ROCE: 12.6%
- ROE: 12.4%
- Debt-to-equity ratio: 0.01
2. CG Power & Industrial Solutions Ltd
Business
Part of the Murugappa Group, CG Power manufactures electrical equipment and industrial systems. Through CG Semi Private Limited, its joint venture with Renesas Electronics and Stars Microelectronics, the company has entered semiconductor assembly and testing.
Q4 FY26 performance
Revenue from operations
- Q4 FY26: ₹3,442 crore
- Q4 FY25: ₹2,753 crore
- YoY growth: 25%
- Q3 FY26: ₹3,175 crore
- QoQ growth: 8.4%
Net profit
- Q4 FY26: ₹363 crore
- Q4 FY25: ₹274 crore
- YoY growth: 32.5%
- Q3 FY26: ₹284 crore
- QoQ growth: 27.8%
Key ratios
- ROCE: 27%
- ROE: 20.8%
- Debt-to-equity ratio: 0.01
3. ASM Technologies Ltd
Business
ASM Technologies provides engineering and digital transformation services. Its semiconductor exposure comes through VLSI design, embedded systems and chip design support services.
Q4 FY26 performance
Revenue from operations
- Q4 FY26: ₹135 crore
- Q4 FY25: ₹115 crore
- YoY growth: 17.4%
- Q3 FY26: ₹116 crore
- QoQ growth: 16.4%
Net profit
- Q4 FY26: ₹17 crore
- Q4 FY25: ₹15 crore
- YoY growth: 13.3%
- Q3 FY26: ₹9 crore
- QoQ growth: 88.9%
Key ratios
- ROCE: 27.6%
- ROE: 26.2%
- Debt-to-equity ratio: 0.42
4. Moschip Technologies Ltd
Business
Hyderabad-based Moschip Technologies focuses on semiconductor design services, including ASIC and SoC design, embedded systems and IoT solutions.
Q4 FY26 performance
Revenue from operations
- Q4 FY26: ₹153.23 crore
- Q4 FY25: ₹134.71 crore
- YoY growth: 13.7%
- Q3 FY26: ₹149.39 crore
- QoQ growth: 2.6%
Net profit
- Q4 FY26: ₹7.95 crore
- Q4 FY25: ₹8.71 crore
- YoY change: Down 8.7%
- Q3 FY26: ₹4.30 crore
- QoQ growth: 85%
Key ratios
- ROCE: 11%
- ROE: 11%
- Debt-to-equity ratio: 0.22
Quarterly performance at a glance
| Company | Revenue Growth YoY | Profit Growth YoY |
|---|---|---|
| IZMO | 81.7% | 142.9% |
| CG Power | 25.0% | 32.5% |
| ASM Technologies | 17.4% | 13.3% |
| Moschip Technologies | 13.7% | -8.7% |
TL;DR:
India’s semiconductor market is projected to reach $120 billion by 2030. IZMO, CG Power, ASM Technologies and Moschip Technologies reported revenue growth in Q4 FY26, with IZMO posting the sharpest rise in both sales and profit.
AI summary:
- India’s semiconductor market is expected to reach $120 billion by 2030.
- IZMO reported 81.7% revenue growth and 142.9% profit growth in Q4 FY26.
- CG Power’s revenue and profit rose 25% and 32.5%, respectively.
- ASM Technologies posted double-digit growth in sales and earnings.
- Moschip recorded higher revenue, though net profit declined year-on-year.
