SYNOPSIS: The company’s subsidiary received in-principle Odisha government approval to set up a Rs. 1,650 crore OSAT unit in Khordha, marking a key step into India’s semiconductor manufacturing ecosystem.
During Tuesday’s trading session, shares of a company providing technology development and technical/management consultancy services hit a 5 percent upper circuit on BSE, after securing approval from the State Government of Odisha for a Rs. 1,650-cr semiconductor project.
With a market cap of Rs. 57.5 crores, shares of Sancode Technologies Limited hit a 5 percent upper circuit at Rs. 141.4 on BSE, as against its previous closing price of Rs. 134.7. The stock has delivered multibagger returns of around 142 percent in one year, and has gained by over 16 percent in the last one month.
News
As per the latest regulatory filings with the BSE, the subsidiary of Sancode Technologies Limited, Sancode Semi Private Limited, has received an in-principle approval from the High-Level Clearance Authority (HLCA) of the Government of Odisha.
The approval is for setting up an OSAT (Outsourced Semiconductor Assembly and Test) facility in Khordha district, Odisha. The proposed project involves an estimated total capital expenditure of around Rs. 1,650 crore, to be deployed over the course of the project’s implementation.
The approval has been granted subject to the company’s compliance with the standard conditions as mentioned in the approval documents, along with applicable statutory, regulatory, and other necessary approvals and clearances.
In its FY25 annual report, Sancode Tech announced plans to expand business operations by venturing into new age technologies like semiconductors by exploring design and packaging opportunities in the semiconductor space, along with exploring opportunities in Artificial Intelligence Technologies.
This marks a significant milestone in Sancode’s strategic expansion into the semiconductor manufacturing ecosystem. The project is also aligned with the broader push of the Government of Odisha to strengthen domestic semiconductor manufacturing capabilities and support related infrastructure.
Financials
Sancode Tech reported a significant growth in revenue from operations, experiencing a year-on-year increase of around 30 percent, from Rs. 5.76 crores in H1 FY25 to Rs. 7.46 crores in H1 FY26. Meanwhile, net loss narrowed sharply during the same period to Rs. 0.11 crores from Rs. 0.96 crores, reflecting an improvement of nearly 89 percent YoY.
Sancode Technologies Limited is a software and product development company offering an API-enabled platform and solutions that enable organisations to rapidly adopt powerful technology applications addressing their strategic business needs.
The company enables organisations to drive digital transformation and competitive differentiation by providing them with easy-to-implement pre-built business logic and solution workflows specially for finance automations. It serves 8 global locations, over 12 industries, 200+ specialities, and more than 80 clients.
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