Moschip Technologies was locked in upper circuit of 10% at Rs 142.20 after the company secured a contract from the Centre for Development of Advanced Computing (CDAC) for Rs 509.37 crore.
The contract involves the development of a high-performance computing (HPC) SoC (System on a Chip) using 5nm (nanometer) technology, a pivotal step that is expected to open significant domestic and international market opportunities.This project aims to propel India to the forefront of semiconductor innovation, substantially enhancing the country's prowess in advanced high-performance computing and microelectronics.
Srinivasa Rao Kakumanu, MD & CEO said, The award of this prestigious project is a testimony to the competencies of MosChip and this will also enhance the companys capabilities in the Semiconductor space making it a niche solution provider. It has also come at a time when India is focusing on developing core strengths in the Semiconductor space to become a powerhouse for the global market. The Team MosChip is well positioned to become a key contributor in Indias Semiconductor story.
Moschip Technologies is a semiconductor and system design company with a focus on Turnkey ASICs, Mixed Signal IP, Semiconductor & Product Engineering, and IoT solutions catering to aerospace & defence, consumer electronics, and automotive, medical, networking & telecommunications.
The company recorded 42.76% decline in consolidated net profit to Rs 0.87 crore in Q4 FY24 from Rs 1.52 crore in Q4 FY23. Revenue from operations jumped 40.11% YoY to Rs 75.42 crore in Q4 FY24.
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