SPEL SEMICONDUCTOR LTD

Provides outsourced semiconductor back-end services — assembly, test, mark, and packaging of integrated circuits — from a single factory in Maraimalai Nagar, Chennai. Revenue for FY26 was Rs 6.28 crore, with total income of Rs 853.07 lakhs, and the customer base and end markets are not disclosed in the filings. Operations at the Chennai factory have been suspended since January 14, 2026 due to a working capital shortage that left the company unable to procure raw materials, pay utilities, or cover overheads, and the statutory auditor flagged material uncertainty about the company's ability to continue as a going concern. On the cost side, other operating expenses stood at 52.4% of revenue, employee costs at 40.5%, materials at 22.5%, and depreciation at 18.2%. The board has approved plans to modernize and expand manufacturing capacity in packaging, testing and automation, and has cleared applications for India Semiconductor Mission, PLI and state incentives. Funding proposals include a Rights Issue or QIP of up to Rs 500 crore and a further Rs 500 crore via FDI or FCCBs, and authorized share capital may rise from Rs 60 crore to Rs 150 crore.