Tata Electronics exports near Rs 1 lakh crore in FY26 as Apple deepens India push
Tata Electronics achieved nearly ₹1 lakh crore in exports during FY26, reflecting a 29% increase from the previous year. The company reported significant export revenues from the US, Taiwan, and Ireland, highlighting its growing role in Apple's su...
Kolkata: Tata Electronics, India's largest home-grown contract manufacturer of iPhones, reported exports of nearly ₹1 lakh crore in FY26, up over 29% from a year earlier, led by the US, Taiwan and Ireland, where Apple has its European headquarters.
Three Tata Electronics entities together reported export revenues of ₹99,128 crore in FY26, according to latest company filings with the registrar of companies (RoC), underscoring the Tata group's growing role in Apple's global supply chain as part of its strategy to expand manufacturing beyond China.
In FY25, they reported exports of ₹76,953 crore. The figures are not strictly comparable because Tata Electronics System Solutions-the former Wistron business acquired by the group-reported a 15-month financial period in FY25.
The other two entities are Tata Electronics and Tata Electronics Products and Solutions, formerly Pegatron Technology India. The latter is a joint venture in which Tata Electronics owns 60% and Taiwan's Pegatron holds the remaining 40%. "Tata Electronics' combined revenue from the US rose nearly 40%, suggesting that India is becoming an increasingly important manufacturing base supplying the American market," said Mohit Yadav, founder of business intelligence firm AltInfo.
The actual increase on a comparable 12-month basis would be even higher, given the longer reporting period for Tata Electronics System Solutions in FY25, he added.
ADVERTISEMENT
Strong Signal The combined foreign exchange outgo of the three Tata Electronics entities at ₹1,29,641 crore were significantly more than their forex earnings, which indicates the Indian manufacturing of iPhones is still heavily dependent on imported components. To be sure, the forex outgo can also be for any licensing fee or other charges the company might be paying in forex, whose details are not mentioned in the filing.
The three entities together reported exports of ₹38,508 crore to the US in FY26, ₹47,930 crore to Taiwan, and ₹11,980 crore to Ireland, according to the RoC filings. Exports accounted for about 76% of their reported production revenue.
The export surge, however, came alongside widening loss. Tata Electronics reported a consolidated net loss of ₹1,611 crore in FY26 against ₹69-crore loss in FY25 even as consolidated operating revenue rose 96% to ₹1,29,902 crore.
ADVERTISEMENT
Tata Electronics' consolidated domestic sales rose 46% to ₹30,182 crore in FY26, according to RoC filings. An industry executive said this includes the products supplied to Apple India, the local sales and service arm. Apple India reported FY26 sales of ₹1,03,853 crore and a net profit of ₹5,311 crore.
The rupee's depreciation against the dollar may have lifted the reported value of exports, analysts noted. The rupee fell almost 10% from about ₹85.60 a dollar to ₹94.80 during FY26.
