11 Profitable Semiconductor Companies in India 2023: Unlocking India’s Digital Potential

The top 11 semiconductor companies in India 1 HCL Technologies Ltd 2 Vedanta Ltd 3 Tata Elxsi Ltd 4 Dixon Technologies India Ltd 5 Moschip Technologies Ltd 6 ASM Technologies Ltd 7 SPEL Semiconductor Ltd 8 Ruttonsha International Rectifier Ltd 9 MIC Electronics Ltd 10 Surana Telecom and Power Ltd 11 NXP Semiconductors

Jul 14, 2023 - 22:27
Jul 15, 2023 - 17:30
11 Profitable Semiconductor Companies in India 2023: Unlocking India’s Digital Potential
Profitable Semiconductor Companies in India 2023

Do you know as per a recent report by Deloitte, the Indian semiconductor market is expected to skyrocket to a staggering $55 billion by 2026? 

You might be thinking what’s driving this phenomenal growth?

Well, the reason is the increased demand for smartphones, wearables, automotive components, computing and data storage fueled by Covid-19 which popularized an online work culture across the globe.

It’s pretty clear that semiconductors have become the bedrock of digitalization in the modern world, powering everything from our phones to our cars. With the rise of technology, the demand for semiconductors has increased consistently, making them an essential component.

Let’s get more insight into the top 11 semiconductor companies in India driving the chips manufacturing industry forward, their significance in India’s future and their impact on the global supply chain. 

Hop on board for a thrilling and insightful ride through the Semiconductor companies in India.

top 11 semiconductor companies in india

Top 11 Semiconductor Companies in India


1.  HCL Technologies Ltd

Products– Application development, IT consulting, Systems Integration, Cloud computing, Infrastructure Management, Security, Analytics and software testing.
Market Valuation-  ₹ 2,85,570 Cr
Founded- 1976

HCL Technologies is a leading multinational Information Technology (IT) services company based in India. The company has a global presence and offers its products and services across multiple locations, including the United Kingdom, the United States, France, Germany, and others.

2.  Vedanta Ltd

Products-  Integrated Mining Solutions, Power Generation, Oil & Gas Exploration and Production, Metals Manufacturing & Alloys
Market Valuation- ₹ 1,06,813 Cr
Founded- 1980

Vedanta Ltd is India’s largest diversified natural resources company, with interests in zinc, lead, silver, oil & gas, iron ore, copper, aluminium, and power. 

Last year,  Vedanta and Taiwanese chipmaker Foxconn signed an MoU with the Gujarat government to set up India’s first semiconductor and display manufacturing plant at an investment of ₹ 1,54,000 crore

3. Tata Elxsi Ltd

Products- IoT (Internet of Things), Cloud, Mobility, Virtual Reality, and Artificial Intelligence.
Market Valuation- ₹ 39,599 Cr
Founded- 1989

Tata Elxsi is a global design and technology services company providing solutions for product engineering across industries. It has a presence in 15 countries with operations in over 35 locations. 

The company delivers innovative and reliable services for the automotive, broadcast, communications, healthcare, and transportation industries. 

3. Dixon Technologies (India) Ltd

Products– Home appliances, Mobile phones, Security surveillance systems, and Consumer electronics
Market Valuation- ₹ 16,550.88 Cr.
Founded- 1993

Dixon Technologies (India) Limited is the go-to name in India’s electronic manufacturing services space. It has 18 state-of-the-art manufacturing facilities spanning Uttar Pradesh, Uttarakhand and Andhra Pradesh. 

4. Moschip Technologies Ltd

Products- Embedded solutions, Semiconductor products, and IoT solutions
Market Valuation-  ₹ 1,001.81 Crore
Founded- 1999

MosChip Technologies, the publicly-traded semiconductor and system design services provider headquartered in Hyderabad, India, is a veteran in the semiconductor industry with over two decades of domain experience. 

5. ASM Technologies Ltd

Products- Internet of Things, Engineering services, Automation solutions, Augmented reality
Market Valuation- ₹ 405 Cr.
Founded- 1992

ASM Technologies Limited, a public Indian company with a notable global footprint encompassing the USA, Singapore, UK, Canada, Mexico and Japan, has decades of experience providing stellar solutions to some of the most prestigious Semiconductor Equipment Manufacturing Companies.

6. SPEL Semiconductor Ltd

Products- Semiconductor products, Hard disk drive components, Flat panel displays, Optoelectronics, and Custom ASICs
Market Valuation-  ₹ 232 Cr
Founded- 1984

SPEL is India’s only Semiconductor IC Assembly & Test facility and a trusted partner for leading semiconductor companies. It pioneered the Indian OSAT market and continues to grow steadily. 

7. Ruttonsha International Rectifier Ltd

Products- Semiconductors, Semiconductor modules
Market Valuation-  ₹ 227 Cr
Founded- 1969

The company, formerly known as RIR International Rectifier Ltd., was a joint venture between Ruttonsha and International Rectifier of Los Angeles, USA, for semiconductor manufacturing.

The company was awarded ‘Export House’ status by the Government of India in 2011, and it continues to achieve strong financial performance with a 1-year return of 24.68% and a 5-year CAGR of 517.47%.

8. MIC Electronics Ltd

Products-  LED Video Displays, High-end Electronic and Telecommunication equipment and Development of Telecom software
Market Valuation-  ₹ 259 Cr
Founded- 1988

The Hyderabad-based MIC Electronics Ltd started as a manufacturer of Electronic Display Systems, has now diversified into ‘Design and Development of Telecom Products’ for wireline and wireless communication. 

Their stock’s performance has seen a 1-year return of -61.71% and a 5-year CAGR of 9.76%.

9. Surana Telecom and Power Ltd

Products- Petroleum jelly, High tension power cables, Telecom products, Optic fibre, and Solar power
Market Valuation-  ₹ 128Cr.
Founded- 1989

Surana Telecom and Power Limited, formerly known as Surana Petro Products Pvt. Ltd, began its journey as a manufacturer of Jelly-filled Telephone Cables. 

In 2008, it expanded into the Solar Photovoltaics sector by establishing an SPV 100% EOU with a capacity of 12MW and investing in a JV with Bhagyanagar India Ltd. 

The company is listed on the NSE and BSE. The stock has a 1-year return of -25.97% and a 5-year CAGR of 78.13%.

10. NXP Semiconductors

Products– Semiconductors for Automotive, Mobile, and Communication Industries
Market Valuation-  ₹ 3,78,109 Cr
Founded- 2006

NXP Semiconductors is a global company headquartered in Eindhoven, Netherlands, with a presence in many locations worldwide.