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livemint.com / 4 months ago
livemint.com / 4 months ago
With margins, incentives at stake, India to chase more electronics acquisitions
Dear reader, as 2025, a year of global tumult and volatility, rolled by, Mint's reporters and columnists looked around the corner on what is coming in 2026—to help you know what to expect and prepare for it. Tell us what you think at [email protected].New Delhi: India Inc’s push from low-value, high-volume electronics assemblies to designing and selling high-margin electronics components is expected to pick up pace this year.
The country’s top five electronics companies are expected to spend increasingly on strategic acquisitions of smaller companies with niche specializations in areas such as electronic circuits, sensors, displays, connectors and more—as they look to generate larger profit margins and increase their worth for shareholders.The reason for this is simple. India’s top five electronics companies include Tata Electronics, Dixon Technologies, Amber Enterprises, Kaynes Technology and Syrma SGS.
Tata Electronics is the sole privately held firm of these five. Cumulatively, these companies generated ₹1.22 trillion ($13.6 billion) in operating revenue FY26, and, according to analysts, are expected to grow at least 30% year-on-year to reach ₹1.6 trillion ($17.7 billion) FY26—before further growth is anticipated in the next fiscal.The large revenue figure, however, is accompanied by very slim profit margins.
In FY25, the five firms generated a cumulative consolidated net profit of ₹1,599 crore ($179 million)—a meagre 1.3% of the total business these five companies generated. This margin, to be sure, comes after all of the above five were recipients of some form of incentives from the ministry of electronics and information technology (Meity), such as production-linked incentives for smartphones and IT hardware,
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