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MosChip Secures ₹509.37 Cr Contract with CDAC for HPC SoC Development

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Synopsis:

MosChip Technologies secures a ₹509.37 crore contract from CDAC to develop a cutting-edge HPC SoC using 5nm technology, spanning four years. This reinforces MosChip's global standing and opens new avenues in domestic and international markets for ASIC solutions.

MosChip Technologies News Today

MosChip Technologies announced securing a significant contract worth ₹509.37 crore from the Centre for Development of Advanced Computing (CDAC) for the development of a high-performance computing (HPC) System on a Chip (SoC) using advanced 5nm technology.

Explore: MOSCHIP TECHNOLOGIES LIMITED

Contract Details

The contract spans four years and includes provisions for support and maintenance. MosChip Technologies is tasked with designing, developing, and delivering the HPC SoC based on 5nm technology as per the agreement terms.

Implications for MosChip

This landmark contract not only strengthens MosChip's position in the global market but also creates opportunities in both domestic and international markets for Turnkey ASIC solutions. The company aims to play a significant role in India's semiconductor industry growth.

CEO's Statement

Srinivasa Rao Kakumanu, the Managing Director & CEO of MosChip, highlighted the contract's significance amidst India's focus on semiconductor development. He expressed confidence in MosChip's ability to contribute significantly to India's semiconductor industry.

Financial Performance

In March 2024, MosChip reported a net profit of ₹0.11 crore, marking a significant decline of 92.84% from the previous year. Additionally, EBITDA decreased to ₹4.30 crore, down 26.62% from March 2023, reflecting the company's financial performance.

Conclusion

MosChip Technologies' contract with CDAC marks a significant milestone in the development of high-performance computing solutions. With this contract, MosChip aims to solidify its global presence and contribute to India's semiconductor industry growth. However, its recent financial performance indicates challenges that the company may need to address alongside this opportunity.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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