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
Larsen & ToubroCivil ConstructionGrowing₹5.63 L CrP/E 33.0 vs 15.4ROCE 11.9%

LTSCT is an active chip design subsidiary that acquired SiC power module assets from Fujitsu and partnered with Foxconn's Hon Young Semiconductor for silicon carbide chips.

L&T Semiconductor Technologies Limited (LTSCT) strengthened its technology positioning through the acquisition of power module design assets from Fujitsu General Electronics Limited, Japan, and by entering a long‑term partnership with Hon Young Semiconductor Company Limited

Annual Report · p. 30
CG Power And Ind SolHeavy Electrical EquipmentGrowing₹1.37 L CrP/E 105.0 vs 33.9ROCE 19.2%

Real semiconductor design revenue of ~Rs 500 Cr from subsidiary Axiro (RF chips in 600M+ devices) plus operational end-to-end OSAT facility CG Semi G1 at Sanand, Gujarat, with G2 planned to scale capacity to 14.5 million chips per day.

Axiro, our semiconductor design subsidiary, generated approximately `500 Cr in revenue in FY26, anchored by the RF business acquired from Renesas Electronics.

Annual Report · p. 25
Gujarat FluorochemSpecialty ChemicalsGrowing₹50,754 CrP/E 120.1 vs 30.0ROCE 8.7%

GFL supplies fluoropolymer materials (PFA, FFKM, and planned semiconductor etching/cleaning gases) used in semiconductor fabrication as a real, growing end-market.

FFKM Segment: Entered one of the most complex and premium product categories globally with the commercialisation of FFKM for chemicals, pharmaceuticals and semiconductor applications

Annual Report · p. 11
+1 more quote from the report

This expansion supports our entry into high-value applications across EVs, semiconductors, solar panels, 5G cables, and advanced automotive technologies

Annual Report · p. 34
Acutaas ChemicalsPharmaceuticalsGrowing₹25,953 CrP/E 61.8 vs 28.5ROCE 27.5%

Acutaas manufactures ultra-pure semiconductor-grade photoresist chemicals at its Greater Noida (Baba Fine Chemicals) facility and is expanding into Korea, Japan and Taiwan; this sits within the specialty chemicals segment (K1,529 Mn revenue) but is not the main business.

Acutaas is the only manufacturer of semiconductor-grade photoresist chemicals in India positioning us at the frontier of a rapidly growing and highly technical market. These chemicals demand ultra-high purity—down to parts-per-Billion levels—to meet the stringent specifications of semiconductor manufacturing.

Annual Report · p. 12
Sansera EngineeringAuto Components & EquipmentsGrowing₹24,201 CrP/E 73.0 vs 26.9ROCE 12.5%

Sansera entered semiconductor fab equipment and critical component manufacturing in 2024, has commenced product supply, and counts it within its growing ADS segment.

Commenced supply of semiconductor products

Annual Report · p. 21
Carborundum UniversalAbrasives & BearingsGrowing₹22,231 CrP/E 188.8 vs 95.2ROCE 5.9%

CUMI manufactures engineered ceramic components used in semiconductor wafer fabrication equipment, with a newly commissioned dedicated facility at Hosur and an ongoing product qualification programme for power electronics substrates.

Commissioned a facility to manufacture ceramic components used in semiconductor wafer fabrication equipment

Annual Report · p. 21
Avalon TechnologiesOther Electrical EquipmentGrowing₹14,548 CrP/E 110.7 vs 25.2ROCE 20.0%

Newly entered semiconductor-equipment subsystem manufacturing via a partnership with a leading global player, with prototyping underway and production expected to ramp over the next 4–5 quarters.

we also entered the semiconductor equipment manufacturing space through a partnership with a leading global player to produce highly complex, Industry 4.0-compliant box builds.

Annual Report · p. 13
Jubilant IngreviaSpecialty ChemicalsGrowing₹11,315 CrP/E 42.4 vs 30.0ROCE 9.5%

Jubilant Ingrevia has a growing Semiconductor Chemicals vertical supplying specialty intermediates (E-Pyridines, E Choline Hydroxide) via CDMO to 10+ active semicon customers, with a dedicated Semiconductor R&D Lab approved in Greater Noida.

We are expanding into high-precision semiconductor chemicals through a focussed CDMO strategy aligned with global supply chain diversification.

Annual Report · p. 25
Rashi PeripheralsComputers Hardware & EquipmentsGrowing₹5,766 CrP/E 18.3 vs 23.1ROCE 18.0%

Operates a dedicated Embedded and Semiconductor BU distributing components from over 25 global brands, backed by an Embedded Lab in Bengaluru, with semiconductor revenue up 131% YoY.

New semiconductor subsidiaries in India and Singapore have strengthened the business with dedicated operations. During the year, semiconductor revenue grew 131% year on year on a small base, driven by customers across automotive, robotics and IoT.

Rashi Peripherals Ltd - 544119 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 8
+1 more quote from the report

The Company enhanced its semiconductor footprint through new subsidiaries in India and Singapore.

Rashi Peripherals Ltd - 544119 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 33
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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