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
Tata Consultancy Serv LTComputers - Software & ConsultingMention-only₹8.33 L CrP/E 17.7 vs 19.5ROCE 53.9%

Semiconductor engineering is referenced as part of TCS' AI infrastructure & hardware offerings (alongside chips, servers, devices), but appears as a capability within its services stack rather than a principal business.

Semiconductor and hardware engineering solutions

Annual Report · p. 12
Hindalco IndustriesAluminiumMention-only₹2.30 L CrP/E 24.7 vs 17.4ROCE 8.0%

Semiconductors is referenced only aspirationally as a future industry Hindalco partners with; no specific operations, products or revenue cited.

Today, Hindalco is a strategic partner to the industries defining the future – from electric mobility and semiconductors to aerospace and green energy.

Annual Report · p. 32
SiemensHeavy Electrical EquipmentMention-only₹1.40 L CrP/E 107.7 vs 33.9ROCE 20.6%

Semiconductors are mentioned only as an emerging high-growth area aligned with India's industrial priorities; no chip design, fab or OSAT activity is disclosed.

emerging high growth areas such as renewables, batteries, data centers, semiconductors, aerospace and defense.

Annual Report · p. 8
Honeywell Automation IndIndustrial ProductsMention-only₹32,454 CrP/E 57.8 vs 23.8ROCE 15.5%

Semiconductors is referenced as a government-PLI-backed industry tailwind for the Indian market, not as a business segment or capability of HAIL itself.

boosted central Production linked Incentive (PLI) schemes in advance manufacturing sectors such as Semiconductors, energy transition to new energy (solar, electrification)

Annual Report · p. 4
Shaily Eng PlasticsPlastic Products - ConsumerMention-only₹15,269 CrP/E 98.5 vs 15.6ROCE 28.3%

Semiconductors flagged as an aspirational opportunity in the outlook, with no chip design, fabrication or OSAT activity disclosed.

The present environment presents unprecedented opportunities in defence, semiconductors, rail, and aerospace. We are strategically positioned to capitalise on these developments.

Annual Report · p. 19
Balaji AminesSpecialty ChemicalsMention-only₹6,713 CrP/E 35.1 vs 30.0ROCE 9.9%

Semiconductor cleaning agents are mentioned as an emerging opportunity for the Indian aliphatic amines sector, but Balaji's current product line does not include any semiconductor-specific offerings.

Emerging applications in automotive and electronics sectors, including EV battery chemicals, electronics-grade solvents, semiconductor cleaning agents, and lightweight material additives.

Annual Report · p. 30
Gopal SnacksPackaged FoodsMention-only₹3,520 CrP/E 40.7 vs 31.1ROCE 19.4%

Semiconductors is named only as a national emerging sector in the MD&A outlook — Gopal Snacks has no chip design, fab, OSAT or supply exposure.

Looking ahead, India's next phase of economic evolution is expected to be driven by emerging sectors including artificial intelligence, digital public infrastructure, green hydrogen, semiconductors, and advanced manufacturing, supported by targeted policy frameworks and growing private sector engagement.

Gopal Snacks Ltd - 544140 - Reg. 34 (1) Annual Report. · Aug 2026 · p. 30
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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