AI-generated · cited to primary sources · not investment advice · How we research
Moschip Tech.
Our verdict on Moschip Tech. isn’t the consensus take — see where we landed, and the one risk the bull case glosses over.
See the verdict — free →Does management do what it says?
Develop expertise in emerging technology areas including AI/ML, IoT, Automotive, and RISC-V.
“Develop expertise in emerging areas (AI/ML, IoT, Automotive, RISC-V)”
Pursue Turn-Key ASIC opportunities by leveraging CDAC HPC execution expertise.
“Pursue Turn-Key ASIC opportunities and leverage CDAC HPC execution expertise”
Develop an Indigenous Smart Energy Meter IC under the DLI scheme.
“MosChip’s application to develop an Indigenous Smart Energy Meter IC under the DLI scheme was approved in June 2024”
Global semiconductor sales are expected to reach $1 Trillion by 2030, which the company is positioning to capture. — target: $1 Trillion
“Worldwide semiconductor sales is expected to reach $1 Trillion by 2030”
Add Emulation to the service portfolio and continue to grow in Design Services. (+1 more commitment)
“Continue to grow in Design Services. Add Emulation to the Portfolio”
See the full cited Management analysis of Moschip Tech.
Where does growth come from?
MosChip is scaling its internal capacity through the M-ISS center to address the talent shortage challenge and support R&D for emerging areas like AI/ML and RISC-V. (1 steady across 1 signal, 1 leading indicator)
“M-ISS (Training and Innovation centre to support R&D & growth plans)”
The company is entering the high-performance computing (HPC) space through a major project to develop advanced processor systems-on-chips (SoC).
“MosChip with its consortium partner Socionext was awarded the “HPC Processor Soc Development” Project in May 2024”
The company achieved significant top-line growth in the 2024 fiscal year, driven by strong performance in its semiconductor and embedded software segments. — Revenue: 48% YoY
“Revenue grew from INR 198.4 Cr in FY23 to INR 293.9 Cr in FY24. Grew by 48%”
MosChip is developing a specialized chip for smart energy meters under a government incentive scheme, targeting the domestic utility market.
“MosChip’s application to develop an Indigenous Smart Energy Meter IC under the DLI scheme was approved in June 2024”
Revenue growth is accelerating significantly, moving from 34% in FY23 to 48% in FY24, with a 4-year CAGR of 31.2%. (2 accelerating, 1 new trend across 3 signals, 1 leading indicator)
“Added 12 new customers”
See the full cited Future Growth analysis of Moschip Tech.
Read the full thesis on Moschip Tech.
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