In a significant development, MosChip Technologies announced on June 1st that it has clinched a substantial contract worth Rs 509.37 crore from the Centre for Development of Advanced Computing (CDAC). The duration of the contract spans four years, inclusive of support and maintenance provisions.
This pivotal agreement entails the development of a cutting-edge high-performance computing (HPC) System on a Chip (SoC) utilizing state-of-the-art 5nm technology, the MosChip said in a press statement.
Under the terms of the contract, MosChip Technologies is entrusted with the design, development, and delivery of an HPC SoC based on 5nm technology.
Also Read | These Indian semiconductor firms are having a splendid rally on the bourses
This landmark project not only fortifies MosChip's positioning in the global market but also ushers in new avenues in both domestic and international markets for Turnkey ASIC (Application-Specific Integrated Circuit) solutions, according to the company's statement.
Commenting on this significant achievement, Srinivasa Rao Kakumanu, the Managing Director & CEO of MosChip said, "It (the contract) 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 India’s Semiconductor story.”
The company reported its net profit at Rs. 0.11 crore in March 2024 down 92.84 percent from Rs. 1.47 crore in March 2023. EBITDA stands at Rs. 4.30 crore in March 2024 down 26.62% from Rs. 5.86 crore in March 2023.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
