Polymatech

Polymatech Electronics Limited is India's first opto-semiconductor chip manufacturer, founded in 2007, with its primary manufacturing facility at the SIPCOT Hi-Tech Special Economic Zone (SEZ) in Kancheepuram, Tamil Nadu. Originally established as a subsidiary of Japan's Polymatech Company Ltd., the business was acquired in 2018 by Mr. Eswara Rao Nandam and Ms. Uma Nandam through a Share Purchase Agreement. The company manufactures a diverse portfolio of opto-semiconductor products including LED chips, COB LEDs, microcontrollers, wireless chips, logic chips, memory chips, and advanced MicroLED packaging. It positions itself under the brand 'The Semiconductor People' and leverages Japanese and European semiconductor technologies. Polymatech has demonstrated exceptional revenue growth — from ₹45 crore in FY21 to over ₹1,910 crore in FY25 (CAGR of ~200%), driven by both manufacturing and trading of semiconductor components. Key sectors served include healthcare/medical devices (~30% of revenue), horticulture (~50%), and telecommunications. The company has expanded globally with subsidiaries in Singapore, Bahrain, and the United States (Nisene Technology Group). A new semiconductor plant focusing on GaN technology for 5G and 6G infrastructure is being established in Chhattisgarh at an investment of ₹1,143 crore. Polymatech has set a revenue target of USD 10 billion by 2030 and plans to develop IoT products for smart homes in 2026. The company had previously filed for an IPO in 2023 but withdrew after merchant banker shareholding irregularities; it is now in discussions with KPMG and Bank of Baroda for a fresh IPO