L&T Semiconductor treading the path of design led manufacturing to become India's first IDM

L&T Semiconductor Technologies (LTSCT), a wholly-owned subsidiary of engineering conglomerate L&T takes the road of design led manufacturing in semiconductor space by starting as fabless chipmaker and plans to enter chip manufacturing as it progresses. L&T Semiconductor Technologies targeting products such as MEMS sensors, analog and mixed-signal ICs, RF circuits, and smart power chips.  It is aiming to become India's first integrated device manufacturer (IDM) chip company by partnering with IBM.  

Sandeep Kumar, CEO, L&T Semiconductor Technologies in multiple media reports including Business Standard shared his vision where they have a plan to build wafer fab costing over US$10 billion. He said they have set a goal of reaching US$1 billion in annual revenue by the 2026-2027 fiscal year, a steep goal, from the year 2025, in which it plans  to start shipping chips. LTSCT reported to have already set-aside US$100 million to its fabless operations, with plans to rise this to US$300 million.

The parent company L&T has performed financially well, where it reported a net profit of US$1.5 billion and revenues of US$25.6 billion for the year ending March 31, 2024, up 21 percent from the prior year. 

L&T Semiconductor see the real value is in building products, in line with that strategy, LTSCT prioritizing design and I...