Vedanta holds a 95.5% stake in a specifically named Vedanta Semiconductor Pvt Limited, reflecting committed corporate presence in the semiconductor sector.
“Vedanta Semiconductor Pvt Limited 95.5%”
Semiconductors & Electronics
The Indian semiconductor chain as the companies themselves describe it — design, fabrication, equipment and assembly-test — with the exact passage that justifies each entry.
Core — the theme IS a principal business todayGrowing — real operations, not yet the main businessAnnounced — committed plans or orders, little revenue yetMention-only — appears only as outlook language
TierAll tiersCore businessGrowingAnnouncedMention-onlySortBy exposureLargest firstNewest evidence2 core · 10 growing · 20 announced · 14 mention
Bharat Forge is in early-stage engagement to supply forged and machined components into the semiconductor equipment supply chain, with no revenue yet.
“We also made modest progress towards entering the semiconductor equipment supply chain through the supply of forged and machined components. This is an early engagement”
Developing high-purity electronic-grade HF and an incubating Advanced Materials vertical targeting semiconductor manufacturing applications; revenue not yet realised.
“progress on our high-purity electronic grade HF remains encouraging.”
+1 more quote from the report
“Rise in demand for inorganic chemicals from emerging sectors, including niche chemistry applications in semiconductor manufacturing, renewables and defence”
Semiconductor Chemicals is one of six R&D verticals under development at the DSIR-approved centre, described as a young/nascent segment with no revenue or dedicated entity yet.
“Without a strong R&D engine, a young business segment like Battery Chemicals or Semiconductor Chemicals cannot be nurtured into a real vertical.”
R&D is designing specialised CNC machine products targeted at the semiconductor industry, but no semiconductor-segment revenue is reported yet.
“The fourth is the Semiconductor Industry, an emerging yet highly promising segment. Our R&D team is already designing two to three specialised products to meet the unique requirements of this industry.”
Ascent-K Circuit JV with Korea Circuit plans HDI, Flex, and Semiconductor Substrate PCB manufacturing with an approved ₹3,215 Crore ECMS investment; ground-breaking held June 2026.
“To foray in the manufacturing of High-Density Interconnect (HDI), Flex and Semiconductor Substrate Printed Circuit Boards”
Aether is commissioning dedicated semiconductor-material capacity (~400 tonnes) at Site 5 (Panoli) and plans to launch electronic chemicals for the semiconductor segment targeting customers in Japan, Korea and Taiwan in FY2027; no revenue yet from this vertical.
“Manufacturing Facility 5 reached a key milestone in FY2025-26, with its first two production blocks readied for commercial operations from June 2026, incorporating dedicated semiconductor-material capacity of approximately 400 tonnes.”
+1 more quote from the report
“Continued build-out of Site 5 (Panoli), with the first two production blocks readied for commercial operations from June 2026 following solvent trials, and a dedicated semiconductor-materials line (targeted ~400 tonnes capacity) planned as part of this expansion.”
Kaynes is building an OSAT (semiconductor assembly and test) facility at Sanand under Kaynes Semicon with six divisions, but commercial production has not yet commenced - revenue expected from Q4 FY 2025-26.
“The establishment of our OSAT facility through Kaynes Semicon is a strategic forward integration. It complements our EMS and PCB businesses and positions us uniquely as the only Indian company offering all three under one roof.”
+1 more quote from the report
“FY 2025–26 will be an investment year, with commercial rollout expected by Q4”
SCIL is jointly exploring with parent SCC the supply of high-purity chemicals for the semiconductor industry in India; no current revenue from this activity.
“The Company is also exploring high-purity chemicals for the semiconductor business in India.”
Aarti lists 'Electronic Chemicals' as an upcoming value chain, planning to build fluorinated and high-purity materials for semiconductor and display applications, but this is not yet a revenue-generating business.
“Electronic Chemicals Building fluorinated and high-purity materials for semiconductors and display technologies”
Signed agreement with a Korean partner to manufacture conductive chip trays for semiconductor assembly and test, with commercial supply expected from Q4 FY 26-27; no revenue yet.
“The Company signed a supply agreement with a Korean technology partner for the manufacture of conductive chip trays, with commercial supply expected from the fourth quarter of FY 26-27.”
Semiconductor fab construction is a brand-new EPC line under the Civil business, secured via a maiden order in FY26.
“Forayed into semiconductor factory construction with a maiden EPC order”
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“We forayed into semiconductor construction with a maiden EPC order from a marquee manufacturer”
The company is developing higher-purity electronic-grade DHF for semiconductor fabrication as a longer-term R&D direction, with no current semiconductor-specific revenue.
“Longer-term work towards electronic-grade DHF for semiconductors and next-generation low-GWP refrigerants.”
Plans to produce ultra-high-purity quartz for Czochralski-process crucibles used in semiconductor/solar-wafer ingot growth; HPQ line is part of Phase II (under construction) and not yet qualified or revenue-generating.
“The HPQ processing line is planned within Phase II. Each phase of investment closes the distance between where Midwest Ltd. stands and where the semiconductor supply chain needs a domestic source.”
Company is developing electronic/semiconductor-grade chemicals through CRAMS projects (pilot trials completed) for European and Japanese customers, positioning in the electronic chemicals supply chain.
“During the year it completed pilot trials for its CRAMS projects spanning agrochemicals, pharmaceuticals and electronic applications with customers in Europe and Japan”
The pending Neo Semi acquisition would add exposure to a semiconductor intellectual-property business, with completion still subject to regulatory approvals.
“Neo Semi is a Singapore-incorporated deep-tech platform company with operational presence across Singapore, UAE and India, engaged in the businesses of semiconductor intellectual property, AI-driven energy logistics, IoT-based smart grid and climate resilience solutions, and circular electronics.”
+1 more quote from the report
“acquisition of 71,72,090 equity shares of USD 1 each, constituting 89.65% of the total paid-up equity share capital of M/s. Neo Semi SG Pte. Ltd. ('Neo'), a Singapore-incorporated deep-tech platform company focused on semiconductor IP, AI-driven energy logistics, IoT-based smart grid solutions, and circular electronics”
Semiconductors are stated as a main-object business area post change-of-objects, but MD&A confirms only opportunity evaluation with no revenue yet.
“the Company changed its main objects and business activities from the Media and Entertainment industry to the business of AI Data Centers, Semiconductors, and AI Technology Services.”
+1 more quote from the report
“Human capital is an important component of the Company's growth strategy, particularly given the specialized nature of AI, semiconductor and technology-related activities.”
Remi Edelstahl is building a UHP stainless-steel tube line (with WSG Co. Ltd of South Korea) targeting semiconductor fab customers; ~Rs. 2,775.58 lakhs of capex committed through FY26, but the imported technology is still under absorption and products are in trial production with no commercial revenue yet.
“The Company is also implementing a project of manufacturing ultra High Purity (UHP) stainless tubes with technology from WSG Co., Ltd, a south Korean entity and has increased capital expenditure of Rs. 2775.58 lakhs till 31st March, 2026 to cater to pharma, dairy, food & beverage, semiconductor, solar industries and data centers.”
New business objects being added by special resolution explicitly cover semiconductor materials and technologies, indicating a planned entry into the semiconductor supply chain with no current revenue.
“semiconductor materials and all other minerals, compounds, alloys, intermediates, products, by-products and derivatives thereof”
Board is proposing MOA alteration to add semiconductor design, fabrication, assembly, testing and packaging as a new main object; this is a committed plan with no current operations.
“research, design, development, manufacturing, fabrication, processing, assembly, testing, packaging, import, export, trading and commercialisation of semiconductors, semiconductor devices, integrated circuits, microprocessors, microcontrollers, memory devices, sensors, chips, wafers”
How this list is built
Definition used: Designs or fabricates semiconductor chips, supplies fab equipment/materials, or does OSAT/ATMP assembly-test-marking-packaging. Membership is extracted from each company’s newest annual report; every quote is validated against the report page before publishing, and core/growing tiers are confirmed by a second independent read (marked ). Companies whose reports our corpus hasn’t read yet simply aren’t listed — absence means unread, not “no exposure”.
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