Chipmaker Polymatech chalks out $2.5 billion revenue by FY26

Semiconductor chips manufacturer Polymatech Electronics is looking to achieve a $2.5 billion (around Rs 20,000 crore) revenue by FY26 on the back of its increased production capacity, the company’s chief executive officer and managing director Eswara Rao Nandam told FE in an interaction. Demand for energy-efficient lighting solutions such as LEDs (light-emitting diodes) across sectors like automobile, consumer electronics, infrastructure, etc, and pick up in semiconductor solutions for medical applications, and horticulture, are among key factors, on which Polymatech is banking to grow its topline. As on date, the company has an order book of Rs 7,000 crore (all exports), which it plans to execute in the next two years. In FY24, the company’s revenue grew 85% year-on-year to Rs 1,200 crore, and net profit rose 64% to Rs 275 crore.