The semiconductor industry is witnessing a global transformation, with companies from India emerging as niche players in highly specialized areas. Among them, Acutaas Chemicals Limited and Moschip Technologies Limited stand out as unique players, leveraging cutting-edge capabilities, strategic acquisitions, and global partnerships.
These companies are positioning themselves as integral contributors to the global semiconductor value chain, making them rare investment opportunities in an industry dominated by international giants.
1. Acutaas Chemicals Limited
Acutaas Chemicals Limited operates across pharmaceuticals, specialty chemicals, and high-performance materials with a strong global presence. Its portfolio spans pharmaceutical intermediates catering to anti-retroviral, anti-cancer, anti-inflammatory, and other therapeutic categories.
Beyond pharma, it manufactures specialty chemicals used in batteries, personal care, agrochemicals, coatings, and electronics. Notably, the company has entered the semiconductor space through the supply of electronic-grade photoresist chemicals, electrolyte additives for lithium battery cells, and other advanced intermediates. Its innovation-led approach has positioned it as a pioneer in both domestic and global markets.
The company has a market capitalization of Rs. 12,009.35 crore, with a current market price of Rs. 1,466.90. Over the past six months, the stock has delivered a return of 31 percent, reflecting growing investor confidence in its diversified chemical and semiconductor offerings.
Through its acquisition of Baba Fine Chemicals, Acutaas has strategically entered the semiconductor chemicals segment. Despite recent softness in demand from some end customers, the acquisition’s primary objective was to establish a presence in this space.
The company is now aggressively expanding into markets such as Korea, Japan, and Taiwan, where semiconductor demand is rising. Its specialized Greater Noida facility, operated under Baba Fine Chemicals, produces electronic-grade photoresist chemicals with stringent quality controls.
The facility houses seven lab rooms with 500-litre glass-lined capacity and 14 glass assemblies totaling 1,300 litres, enabling both precision batch processing and larger commercial-scale production.
As one of the first companies outside China to develop global battery-grade electrolyte additives, Acutaas is well-positioned under the global “China+1” supply chain shift. Its expansion into semiconductor chemicals, coupled with its strong presence in advanced intermediates, underlines its ambition to become a critical supplier to the global electronics industry.
2. Moschip Technologies Limited
Moschip Technologies Limited is India’s first publicly listed fabless semiconductor and system design company. Established in 1999, the company has steadily expanded from providing silicon solutions to delivering full-spectrum services in IoT, AI/ML, turnkey ASICs, mixed-signal IP, and product engineering.
Its expertise caters to diverse industries including aerospace and defence, consumer electronics, automotive, medical, and networking & telecommunications. With 25 years of experience, Moschip has built a reputation as a trusted partner for end-to-end silicon and system design solutions.
The company has a market capitalization of Rs. 5,011.53 crore, with a current market price of Rs. 260.85. Over the past six months, the stock has surged 75 percent, underscoring strong investor optimism and the company’s rare position as a listed fabless semiconductor player in India.
Moschip’s competitive edge lies in its proven track record of more than 200 successful SoC tape-outs and its role as a TSMC Design Centre Alliance partner, giving customers access to world-class process technologies.
With a workforce of over 1,400 engineers across India and the USA, including more than 900 VLSI specialists, the company offers expertise from 180nm down to 2nm technology nodes. Its integrated capabilities span RTL design, analog layout, FPGA design, verification, embedded systems, and IoT product development.
Unlike most semiconductor firms in India that primarily provide design services, Moschip has established itself as a rare fabless listed entity with a holistic approach to product design and engineering.
The company supports the full chip lifecycle from concept and architecture to silicon bring-up and manufacturing ensuring reliability, speed, and cost efficiency. With AI, IoT, automotive, and high-performance computing driving semiconductor demand globally, Moschip is positioned to capitalize on the next wave of growth.
Written By Manan Gangwar
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