According to industry projections, the Indian semiconductor market was valued at ~$38 billion in 2023 and it was estimated to grow to around $45-50 billion during 2024-2025. By 2030, it is anticipated to expand significantly, reaching between $100 and $110 billion.
While global demand for semiconductors continues to surge, the supply chain remains vulnerable due to its heavy reliance on a few geographic regions. This has highlighted the urgent need for a more geographically diversified manufacturing base.
Following are a few semiconductor stocks and their performance during the Q1 FY26:
Hind Rectifiers Limited
With a market cap of Rs. 3,458 crores, the stock is trading at Rs. 2,003.70 on Wednesday, as against its previous closing price of Rs. 2,035.40. On the financial front, Hind Rectifiers reported a revenue from operations of Rs. 215 crores in Q1 FY26, up by around 16 percent QoQ and 58 percent YoY. Meanwhile, its net profit increased to Rs. 13 crores, rising by nearly 30 percent QoQ and 86 percent YoY.
Hind Rectifiers Limited is principally engaged in the business of developing, designing, manufacturing and marketing a wide range of power electronics equipment, including power converters, control electronics, transformers, rectifiers, inverters, motors, and HVAC systems. As per the shareholding pattern of June 2025, the ace investor Mukul Mahavir Agrawal holds a 1.46 percent stake in Hind Rectifiers.
RIR Power Electronics Limited
With a market cap of Rs. 1,792.58 crores, the stock is trading at Rs. 233.60 on Wednesday, as against its previous closing price of Rs. 229.35. On the financial front, RIR Power reported a revenue from operations of Rs. 21 crores in Q1 FY26, down by around 21 percent QoQ and 0.23 percent YoY. Likewise, its net profit decreased to Rs. 1.7 crores, falling by nearly 33 percent QoQ and 40 percent YoY.
RIR Power Electronics Limited is a global semiconductor company that manufactures power semiconductors. The company is engaged in manufacturing products ranging up to 9000V and 6000A, including rectifier diodes, phase control thyristors, inverter grade thyristors, power modules, diode bridge rectifiers, customised high-power rectifiers, battery chargers, and railway equipment.
Kaynes Technology India Limited
With a market cap of Rs. 41,623.88 crores, the stock is trading at Rs. 6,217 on Wednesday, as against its previous closing price of Rs. 6,272. On the financial front, Kaynes Tech reported a revenue from operations of Rs. 673 crores in Q1 FY26, down by around 32 percent QoQ but a 33 percent YoY growth. Meanwhile, its net profit stood at Rs. 75 crores, falling by nearly 35 percent QoQ but a 47 percent YoY increase.
Kaynes Technology India Limited is a leading end-to-end and IoT solutions provider enabling electronics manufacturing players, with capabilities across the entire spectrum of Electronics System and Design Manufacturing (ESDM) companies.
The company provides conceptual design, process engineering, integrated manufacturing, and life-cycle support for major players in the automotive, industrial, aerospace and defence, nuclear, medical, railways, IoT, IT and other segments.
As of Q4 FY25, the total capex planned for the semiconductor business is ~Rs. 3,400 crore, while around Rs. 1,400 crore is allocated for the printed circuit board (PCB) segment.
In 2023, the company established Kaynes Semicon Private Limited, one of the leading semiconductor manufacturers in India. It is engaged in advanced product offerings such as FCBGA, SiP, chiplets, MCM, and Silicon photonics, aimed at meeting the diverse needs of industry in North America, Europe, APAC, and other global markets.
CG Power & Industrial Solutions Limited
With a market cap of Rs. 1,06,994 crores, the stock is trading at Rs. 679.25 on Wednesday, as against its previous closing price of Rs. 676.80. On the financial front, CG Power reported a revenue from operations of Rs. 2,878 crores in Q1 FY26, up by around 4 percent QoQ and 29 percent YoY. Meanwhile, its net profit increased to Rs. 267 crores, falling by nearly 2 percent QoQ but a 11 percent YoY growth.
CG Power and Industrial Solutions Limited operates across two key business segments: Industrial Systems and Power Systems. The company manufactures a wide range of products, including traction motors, propulsion systems, and signalling relays for Indian Railways, along with induction motors, drives, transformers, switchgears, and other related products for the industrial and power sectors.
As part of its strategic diversification, CG entered the semiconductor manufacturing sector in FY24. During the year, CG signed a JV Agreement with Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, and Stars Microelectronics (Thailand) Public Co. Ltd, an OSAT (Outsourced Semiconductor Assembly and Test) provider based in Thailand. The agreement aims to establish a JV to build and operate an OSAT facility in India.
The JV, CG Semi Private Limited, planned to set up the OSAT facility in Sanand, Gujarat, on around 28 acres of land, with a total investment estimated at Rs. 7,600 crore over five years.
Written by Shivani Singh
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