Indian PCB scenario

Indian PCB Market size

PCB Demand Scenario
PCB Usage practices
PCB Supply Scenario

Private & Confidential

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Indian PCB Market Size

FY10

All figures in INR Crores

Domestic

Imports

(Excluding Exports)

INR 2650

INR 1250

Exports
INR 400

All figures have been rounded off

Total Indian PCB Market Size = INR 4000 crores

Imports

Imports come mainly from China, Taiwan, Hong Kong, Korea and the US. The import prices are almost at
par with domestic prices with difference narrowing down to just 5-8%. The imports are largely due to
huge demand-supply gap. However, domestic prices in medium volumes are competitive and do not
face any threat from imports.

Exports

India is exporting about 24 percent of its production to the US, Germany, Malaysia, Austria, Belgium,
Netherlands, the UK, Italy, Spain, Thailand and New Zealand. India exports single-side, double-side, and
multilayer PCBs.

Domestic

PCB manufacturers in India mostly cater across electronics applications in India except motherboards,
mobiles and high-end telecom equipment.

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An impressive 17% CAGR growing PCB demand

Domestic Demand
S/N Item
1 Consumer Electronics (CE)
IndustrialElectronics/
2 Automation (IE)
3 Computers and periferals
4 Comn.& Broadcast eqpt. (C&B Equip)
5 Strategic Electronics (SE)
6 Automotive Electronics (AE)
Total

Volume (000) SQM

FY'10
FY'11
FY'12
FY'13
FY'14
FY'15
2009-10 2010-11 (E) 2011-12 (E) 2012-13 (E) 2013-14 (E) 2014-15 (E) CAGR
14,470
17724
21800
26800
32500
38350
17.64%
731
533
1,570
177
300
17,780

790
580
1950
185
360
21589

850
630
2440
195
440
26355

950
685
2930
200
530
32095

1050
730
3550
210
625
38665

1150
780
4250
220
720
45470

7.84%
6.55%
18.05%
3.69%
15.71%
17.00%

The market demand is expected to grow to over 45Mn SQM by 2014 from existing 17.7Mn SQM at a
CAGR of 17%.
The market is fairly large and there is no dependence on single or few suppliers or customers. Linaks
will be able to encash this opportunity in the Domestic market.

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PCB Demand
By Volume

FY10
C&B equip
8%

SE
1%

By Value
Strategic
Electronics
8%

AE
2%

FY10

Automotive
Electronics
3%

Consumer
Electronics
35%

Computers
3%
IE/AUTOMN
4%

Comn.&
Broadcast eqpt.
36%

Computers and
periferals
10%

CE
82%

17.7 Mn. SQM

Ind. Elec. /
Automation
8%

INR 4000 crores

The main demands for PCBs come from consumer, industrial, and automotive electronics markets, as
well as from Power & telecommunications.
PCB manufacturers in India mostly caters to the small to medium volumes across all sectors.
The mobile phone, PC and communication technology sectors which are biggest consumers of PCBs still
rely a lot on imports.

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PCB Usage Practices in India

FY10

By Region

By type of Application

By Volume

By Value
Strategic
Electronics
8%

North
20%

Automotive
Electronics
3%
Consumer
Electronics
35%

West
35%

Comn.&
Broadcast eqpt.
36%
South
30%
East
15%

Computers and
periferals
10%

17.7 Million Sq.m

Private & Confidential

Ind. Elec. /
Automation
8%

INR 4000 Crores

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PCB usage across sub-segments (1/2)

Segment

UPS - APC

Demand in
k Sqm

Type of PCB used

300+

Procurement

15%

85%

Mobile phones

200+

Energy meters

140+

Set top boxes

120+

LCD monitors

50+

Mother boards

40+

100%

Inverter

45+

100%

85%
68%

14%

Segment
Growth

APC

18%

Nokia, Motorola

28%

HPL. Elymer, Havell

20%

Thomson, Humax

18%

Samsung, LG, HCL

30%

0%

100%
5%

Key customers

0%

10%

81%

32%

0%

86%

3%

0%

Intel, Asus, Kobian

Luminous, Su-kam

20%

Numeric, Emerson

13%

Denso, Bosch,
Delphi

20%

97%

UPS - Others
ECU

50+
30+

43%

40%

17%

67%

100%
0%

Local
Imports

ML
DS
SS

Private & Confidential

% local procurement

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21

PCB usage across sub-segments (2/2)

Segment

Microwave

Demand
in k Sqm

22+

Type of PCB used

Procurement

58%

42%

Key customers

Segment
growth

LG, Samsung

20%

LG, Samsung

50%

Pricol, Siemens VDO

25%

Delphi

25%

Tyco, Amararaja

15%

Visteon, Subros

25%

Autocop, Minda

30%

Anand

20%

0%

LCD TVs

20+

10%

90%
0%

Speedometers

8+

Combination
Switches

7+

DC Power

5+

Climate control

5+

10%
25%

89%

1%

100%

75%

45%

100%

55%

89%

100%
31%

Security system

3+

100%
100%

Power window

Private & Confidential

1+

100%

100%

ML

Local

DS
SS

Imports
% local procurement

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22

Geographical presence of key suppliers

Competition

India locations
Manufacturing

Marketing offices

International locations
Design/ prototyping

Marketing offices

AT&S

Nanjangud

Bangalore

Bangalore

Across the world

Shogini

Pune

Pune, Mumbai. Resident engineers

across 6 other locations

Pune

None

CIPSA RIC

Doddaballapur

Doddaballapur

None

None

CSIL

Gandhinagar

Delhi, Mumbai, Bangalore,

Chandigarh, Chennai, Hyderabad.

Gandhinagar

USA

Genus

Gandhidham

Delhi

None

None

Sulakshana

Hyderabad

Hyderabad

None

None

Ascent

Hosur

Hosur

None

None

Epitome

Ahmednagar

Mumbai, Pune, Delhi

None

None

Fine-line

Mumbai

Mumbai

None

USA

Micropack

Bangalore

Bangalore, Delhi, Hyderabad

Bangalore

None

Meena Circuits

Baroda

None

None

USA

Garg Electronics

Panchkula

Delhi, Chandigarh

None

None

Sahasra
Electronics

Delhi

Delhi

None

None

Precision
Electronics

Delhi NCR

Delhi

None

None

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Competitive scenario Indicative installed capacities

All figures in ,000 Sq.Mts

Sr. No.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17

Company
CIPSA RIC
AT&S
Epitome
CSIL
Meena Circuits
Akasaka
Shogini
Ascent
Genus Electrotech
Sonic technologies
Hi-Q Electronics
Sulakshana Circuits Ltd
Fine-line, Baroda
Fine-line, Mumbai
Micropack
BLG
Others
Total

Total Capacity
560
525
240
210
144
180
140
120
100
102
82
70
42
40
25
60
400
2940

DS
316
150
180
150
108
180
120
96
100
72
34
40
36
28
10
60
400
2080

MLB
144
375
60
60
36
0
20
24
0
30
48
30
6
12
15
0
0
860

Single side capacities have not been highlighted as thats not our focus
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Competitive scenario Technical capabilities

Capabilities

Operations

Competition

24
DS, ML upto 24 layers

Fore runner in PCB

manufacturing
and
technology

2-3 Mil
0.2 0.3

AT&S

AT&S primarily into exports

Micropack

AT&S the only company having

capability and the ability to get
good price realizations

Hi-Q

0.4 3.2

Hi-Q caters to both; domestic &

exports

All types- RoHS compliance

12
DS, ML upto 12 layers

CSIL

<0.3

Sonic Technlogies

0.8 3.2

Sonic concentrates more on

exports

Ascent

4 mil

All types - RoHS compliance

DS, ML upto 6 layers

CIPSA RIC

4 -6 mil

Shogini

< 0.3

Sulakshana

0.8 3.2

Meena Circuits

Ascent, CSIL caters to both

domestic & exports
Cater primarily to the Indian
market with limited or no exports
Meena Circuits largely into exports

HAL, SMOBC, ENiG

0.2

Private & Confidential

SS, DS upto 2 layers

Genus

8 mil

Fineline Baroda

< 0.4

Garg Electronics

0.8 3.2

Akasaka

HAL, organic coating

Epitome

0.3
Drill sizes (mm)

0.4

Cater primarily to the Indian

market with limited or no exports

80-100 other players

Product type &

layer count

www.ibeindia.in

Line width X
line spacing

Hole
diameter

Board
25
thickness

Surface
Finish

25

PCB supply scenario

By type of Board FY10
By Value

By type of Board FY10

By Volume

Others
4%

Others
5%
Flexible
2%

SS
12%

Flexible
3%

MLB
15%
SS
45%

MLB
39%

DS
43%

DS
32%

8 Mn. Sq.m

INR 1650 crores

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Competitive Pricing
INR/Sq.cm
Average price for the following

1.4

specifications
1.2

Board thickness: 1.6 mm

1

Line width/ space: 0.15 / 0.15mm

0.8

Surface finish: HAL / ENIG

Laminate material: FR 4

0.6

Credit period of 30 - 45 days

0.4

common in the industry

0.2

Lead time for delivery 3 to 4

weeks

Avg. pricing in Rs./sq.mt

DS : 0.40
ML-4 : 0.75
ML-6 : 1.00

Private & Confidential

DS

ML - 4

4 - 7 days for prototype PCBs

ML - 6

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