MiPhi Semiconductors, the joint venture between Micromax Informatics and Phison Electronics, has crossed ₹250 crore in revenue in the first quarter of FY27, marking a significant milestone in its growth journey. The performance reflects rising demand for advanced memory and storage solutions across enterprise, AI infrastructure, automotive and industrial applications.
The company has witnessed rapid growth since its inception, with revenue increasing from less than ₹10 crore in FY25 to around ₹100 crore in FY26, before surpassing ₹250 crore in the first quarter of FY27. Building on this momentum, MiPhi is targeting ₹1,000 crore in revenue during the current financial year, supported by a strong domestic order book and expanding export opportunities.
Commenting on the milestone, Rahul Sharma, Co-Founder, MiPhi Semiconductors, said, “Our ambition is to build India’s leading memory technology company. We believe that India’s semiconductor ambitions are on an upward trajectory. This is about building deep capabilities in product engineering, firmware, validation and advanced memory technologies that deliver long-term value and strengthen the country’s technology ecosystem. With demand for AI infrastructure, cloud computing, enterprise storage and connected devices accelerating globally, MiPhi is committed to building world-class memory technologies from India for customers across global markets.”
To support its next phase of growth, the company is investing in expanding its manufacturing and technology capabilities. The planned investments are expected to strengthen production capacity, meet rising domestic demand, enhance export potential and increase domestic value addition within India’s semiconductor ecosystem.
MiPhi is also expanding beyond memory product manufacturing by strengthening capabilities in product engineering, firmware development, validation and advanced storage technologies. With a growing portfolio of enterprise SSDs, embedded memory products and industrial storage solutions, the company aims to play a larger role in India’s semiconductor value chain while addressing growing global demand for AI, enterprise storage, automotive electronics and industrial computing.
