MOSCHIP — INDIA'S CHIP-DESIGN BET IS GETTING BIGGER ⚙️🚀

India doesn't need to manufacture every chip itself to become a semiconductor powerhouse. It also needs companies that can design the chips, build the IP and engineer the systems around them. That's where MosChip gets interesting. MosChip operates across ASIC design, semiconductor engineering, embedded systems and product engineering, giving it exposure to multiple layers of the semiconductor value chain. And the business is already showing operating leverage. In FY25, EBITDA increased 66% to ₹60 crore, while net profit jumped 239% to ₹33.5 crore. The company also repaid its long-term debt during the year, strengthening the balance sheet. But the bigger opportunity is the market behind it. India's semiconductor ecosystem is expected to expand dramatically through the decade, supported by the India Semiconductor Mission, domestic chip-design initiatives and global supply-chain diversification. MosChip's own annual report highlights an Indian semiconductor market opportunity estimated at $100–110 billion by 2030. And MosChip is positioned on the design side. ASIC → SoC → Embedded → Automotive → Aerospace → Defence → AI & high-performance computing. The company is also building domestic capabilities, including work around its AUM processor, while expanding its engineering talent and delivery capabilities. That's the long-term thesis: More semiconductor investment → More chip-design requirements → More engineering outsourcing → More IP creation → Higher-value contracts → Better margins. And there's another potential catalyst. MosChip has recently been involved in developments around the VLPL acquisition, with the Supreme Court modifying the status-quo arrangement and requiring respondents to furnish ₹200 crore security by September 15, 2026. This remains an important situation to monitor rather than treating it as guaranteed upside.