MiPhi Semiconductors Reports 2.5X Revenue Growth in Q1 FY27, Crosses ₹250 Crore
Mumbai: MiPhi Semiconductors, a joint venture between Micromax Informatics and Phison Electronics, has reported revenue exceeding ₹250 crore in the first quarter of FY27, marking a significant milestone in the company’s growth and reflecting increasing demand for its memory and storage solutions.
The company said the growth comes as India continues to strengthen its semiconductor ecosystem through investments in design, memory, storage and technology innovation.
Revenue Growth Since Inception
According to MiPhi Semiconductors, its revenue increased from less than ₹10 crore in FY25 to around ₹100 crore in FY26, before crossing ₹250 crore in the first quarter of FY27.
The company attributed the growth to rising demand for high-performance memory solutions across enterprise storage, artificial intelligence (AI) infrastructure, automotive electronics and industrial applications.
MiPhi is targeting ₹1,000 crore in revenue during the current financial year and expects continued growth over the next two to three years, supported by domestic orders and expanding export opportunities.
Focus on Memory Technology
Commenting on the milestone, Rahul Sharma, Co-Founder of MiPhi Semiconductors, said the company’s objective is to build India’s memory technology capabilities through investments in product engineering, firmware development, validation and advanced memory technologies.
He added that growing demand for AI infrastructure, cloud computing, enterprise storage and connected devices presents significant opportunities for Indian semiconductor companies in global markets.
Expansion of Manufacturing Capabilities
MiPhi Semiconductors said it is investing in expanding its manufacturing capacity and technology capabilities to support the next phase of growth.
The company stated that these investments are expected to help meet increasing domestic demand while strengthening export potential and enhancing domestic value addition within India’s semiconductor ecosystem.
Broadening Role in the Semiconductor Ecosystem
The company said it is transitioning from being primarily a memory product manufacturer to becoming a broader memory technology company by developing expertise in product engineering, firmware development, product validation and advanced storage technologies.
Its portfolio includes enterprise solid-state drives (SSDs), embedded memory products and industrial storage solutions aimed at serving enterprise storage, AI infrastructure, automotive electronics and industrial computing markets.
MiPhi expects these sectors to remain key drivers of future growth as it continues expanding its manufacturing capabilities and investing in semiconductor innovation.
