Electronics manufacturer Bhagwati’s memory business set to grow 10-fold in FY27

Micromax-backed electronics manufacturing and services company Bhagwati Products Ltd expects its memory and storage business to grow nearly 10-fold to more than Rs 1,000 crore this financial year, as it expands into IT hardware and automotive electronics and builds capabilities across three electronics ecosystems in India.

The company’s memory brand, MiPhi, reported revenue of Rs 100 crore in the financial year ended March 2026 but has already clocked Rs 250 crore in the first quarter of the current financial year, co-founder Rahul Sharma told TNIE.