MosChip Technologies Limited reported revenue from operations of ₹585.15 crore for FY26, marking a 25.34% year-on-year increase from ₹466.84 crore in FY25. Profit before tax (PBT) rose to ₹41.58 crore in FY26 from ₹33.53 crore in the previous fiscal year.

The company disclosed these figures during its 27th Annual General Meeting held on September 29, 2026, via Video Conferencing. The meeting concluded with the adoption of audited financial statements for FY26 and the reappointment of a director retiring by rotation. Proceedings commenced at 5:00 pm and ended at 6:31 pm, with a quorum of 48 members attending through the virtual platform.

Financial performance and growth trajectory

MosChip has demonstrated consistent growth over the past five years. Revenue expanded from ₹105.2 crore in FY21 to ₹585 crore in FY26, achieving a compound annual growth rate (CAGR) of 41% since FY22.

The company added 12 new customers during FY26, expanding its customer base to include markets in Australia, Europe, Japan, and South Korea. Leadership teams in Engineering, Business Development, and Operations were further strengthened during the period.

Key operational highlights

MD and CEO Srinivasa Rao Kakumanu presented an overview of operational performance, highlighting several strategic milestones:

• Delivered a custom System-on-Chip (SoC) to ISRO's Space Application Centre (SAC) for India's Satellite Navigation Program.
• Collaborated with EMASS on silicon implementation for its Edge AI SoC.
• Involved in approximately 100 tape-outs across legacy and advanced technology nodes.
• Secured project wins for the Product Engineering BU from two Fortune 500 companies ranked in the top 50.
• Progressed on an indigenous High Performance Computing (HPC) processor in 5nm technology for C-DAC, in collaboration with Socionext, with tape-out imminent.
• Taped out the indigenous smart energy meter IC (VIDYUT) under the Design Linked Incentive (DLI) scheme, with promising initial bring-up results.

Governance and attendance

Chairman K. Pradeep Chandra presided over the session, ensuring compliance with Section 103 of the Companies Act, 2013. Shareholders adopted standalone and consolidated audited financial statements for the year ended March 31, 2026. Vinayendra Parvathaneni, who retired by rotation, was reappointed as director.

The board maintained full attendance, with key committee chairpersons present to address shareholder queries regarding audit and remuneration matters.

Voting was conducted through remote e-voting and electronic voting during the meeting. M/s. B S S & Associates served as the scrutinizer. The consolidated results were scheduled for announcement within two working days from the conclusion of the AGM.

Industry outlook and future priorities

The company noted that the global semiconductor industry is witnessing strong demand driven by Artificial Intelligence, IoT, 6G, autonomous mobility, high-performance computing, and data centres. Market research cited in the presentation estimates the global semiconductor market could reach $2.3 trillion by 2030, growing at a CAGR of 19%.

Looking ahead, MosChip plans to deepen relationships with strategic customers, expand its presence in international markets, and scale its Product Engineering Services and Turnkey ASIC businesses. The company remains focused on execution discipline, operational efficiency, and prudent capital allocation.

What the Numbers Show

While FY26 revenue growth of 25.34% represents a deceleration from the 58.50% growth recorded in FY25, the absolute increase of ₹118.31 crore is significant. The PBT margin improved slightly, rising from approximately 7.2% in FY25 (₹33.53 Cr on ₹466.84 Cr revenue) to roughly 7.1% in FY26 (₹41.58 Cr on ₹585.15 Cr revenue), indicating stable profitability despite the shift in growth velocity. The addition of 12 new customers suggests continued diversification of the revenue base beyond existing key accounts.

MosChip Technologies announced the successful completion of initial silicon bring-up activities for its VIDYUT100 smart energy meter integrated circuit on September 17, 2026. The development marks a key milestone in the company's push for indigenous semiconductor solutions.

The chip was taped out during Q1 FY2027 and has since been received from the fabrication facility. Preliminary laboratory evaluations confirmed that key device functions are operating as expected, validating the design methodology and integration approach adopted for the program.

Validation and Next Steps

Comprehensive validation and performance characterization are continuing across analog, digital, metrology, communication, and system-level functions. These activities are expected to proceed over the coming weeks to ensure the device meets stringent reliability, accuracy, and performance requirements for next-generation smart metering platforms.

Commercial availability remains subject to the completion of ongoing validation, characterization, compliance, and customer qualification activities. MosChip stated it will provide further updates as the process progresses.

Government Support and Market Context

The VIDYUT100 program is supported by the Government of India's Ministry of Electronics and Information Technology (MeitY) Design Linked Incentive (DLI) scheme. This alignment supports India's broader objective of strengthening domestic semiconductor innovation and manufacturing capabilities while addressing emerging smart metering requirements.

What the Numbers Show

The successful transition from tape-out in Q1 FY2027 to initial silicon bring-up indicates that the engineering team has cleared the first major hardware hurdle. However, the explicit separation between "initial bring-up" completion and the pending "comprehensive validation" suggests a significant technical runway remains before commercialization. The reliance on the DLI scheme highlights the strategic dependency on government incentives for this indigenous chip development cycle.

SEMICON India 2026 Demonstration

MosChip plans to showcase the VIDYUT100 at SEMICON India 2026. The live demonstration will feature the end-to-end semiconductor and systems engineering capabilities, including real-time electricity metering, data acquisition, and standardized communication via the DLMS/COSEM stack. The showcase will also highlight indigenously developed software integrated with the IC.

About VIDYUT100

VIDYUT100 is a fully integrated Smart Energy Meter IC designed for advanced smart metering applications. Previous milestones included the validation of key analog and digital subsystems through test chips and the completion of the communication protocol stack.