1. Vayavya Labs acquisition - MosChip is acquiring a 73% controlling stake in Vayavya Labs for ₹245.49 cr (60.5% cash, 39.5% share-swap at ₹192/share), with the EGM scheduled for 12 May 2026 and completion within 15 days of final approvals. Vayavya brings ₹83 cr of provisional FY26 revenue that is already growing (₹64.4 cr in FY25, ₹55.5 cr in FY24), is EBITDA-accretive, and adds turnkey fixed-price contract capability in automotive and semiconductor verification - directly complementing MosChip's ASIC transition.
2. Smart Energy Meter IC tape-out - The full-chip tape-out of the DLI-scheme Smart Energy Meter IC is scheduled for Q1FY27, with production tape-out targeted for Q1FY28, following validation of key analog and digital subsystems. This opens a domestic market of \~60 million units growing at 7% CAGR and a global market of \~2 billion units by 2028, with the DLI scheme providing government-backed demand visibility.
3. Softnautics amalgamation complete - The NCLT approved the amalgamation of Softnautics Private Limited and Softnautics Inc with MosChip on 25 March 2026, effective 4 April 2025, consolidating VLSI and software testing businesses under one entity. The pooling of interests was already accounted for in FY26 financials, eliminating multi-layered structure and managerial overlaps while rationalising costs.
4. ISRO-SAC 28nm turnkey ASIC delivered - MosChip completed silicon bring-up and delivered packaged, validated silicon for ISRO's Space Applications Centre custom SoC in 28nm technology, covering the full turnkey flow from netlist to packaged silicon. The successful delivery to a mission-critical Indian space customer validates the turnkey ASIC model and enables SAC to proceed to productionisation.
5. AUM HPC processor on 5nm - MosChip co-developed an Arm-based HPC SoC with Socionext for C-DAC under the National Supercomputing Mission, built on TSMC's 5nm technology and covering design, validation, software, and reference boards. The 5nm capability demonstrated here is a credential that positions MosChip for further high-value ASIC engagements at the most advanced nodes.
6. Debt-free balance sheet and NSE listing - All long-term debt was fully repaid during FY25, the debt-equity ratio fell to 0.06, and the company listed on the NSE on 5 February 2025 with a shareholder base crossing 250,000. A clean balance sheet with ₹328 cr net worth and a Crisil BBB+/Stable rating removes financing constraints for the turnkey ASIC build-out and the Vayavya acquisition.
7. Talent base crosses 1,700 with MAST pipeline - Headcount rose from 1,510 in March FY25 to 1,779 in March FY26, while the in-house MAST academy has trained 2,500+ engineers across 50+ batches with 20+ tier-1 companies recruiting from it. A growing, trained workforce with sub-20% attrition supplies the engineering capacity needed to scale turnkey ASIC programs without being gated by lateral hiring.