What CIPSA-TEC India Pvt Ltd does

CIPSA-TEC India Private Limited is an Indian-owned printed circuit board (PCB) manufacturer founded in 2006 at Doddaballapur by acquiring the business of RIC (Rao Insulating Company, established 1987 with UNICAP Taiwan) and now operating from a 12,000 sqm built-up manufacturing facility in Hirehalli Industrial Area, Tumkur District, Karnataka, approximately 60 km from Bangalore. The company specializes in double-sided and multi-layer PCBs (0.8-3.2mm thickness, 18-105 micron copper) and aluminum-based Metal Clad PCBs for thermal management, using imported European machinery from POSALUX, GIGA, PLURITEC, Metezka, Schmid, ATG, and KALLFASS for CNC drilling with X-ray, vertical PTH plating, surface finish, E-testing, and vacuum packing. It holds IATF 16949:2016, ISO 9001:2015, and UL certifications, with MSIL (Maruti Suzuki India) formal approval secured in 2018.

CIPSA-TEC serves Tier 1 and Tier 2 suppliers in Automotive (primary), Energy, Telecommunications, Industrial Automation, Railways, and EV markets, with named enterprise customers including Bajaj, Schindler, Visteon, Magneti Marelli, Kostal, BHTC, Pricol, Genus, Interface, and Megha. Revenue is generated primarily through quote-based custom PCB sales (hardware) supplemented by value-engineering services during new product development, with pricing tied to material, thickness, copper base, hole size, and surface finish specifications. Distribution operates through a pan-India distributor network with dedicated regional sales contacts across Indian states plus direct export to Europe.

Capacity stands at 14,000 sqm/month, and the company is executing a 'Super Expansion' plan for a new INR 1,150 Crores PCB plant on 20 acres at Naidupeta, Andhra Pradesh, under India's ECMS electronics component manufacturing incentive scheme. In 2023, the company underwent a 100% share transfer to a new Indian management team led by Chairman Mr. B.S. Chakravarthy (also CEO of DTDS Technology, a Marubeni Group company), CEO Mr. Nandakumar L. (36+ years PCB industry tenure), and Directors Mr. Pokala Srinivas and Mr. Harish H.V.

Name

CIPSA-TEC India Pvt Ltd

Legal name

CIPSA TEC INDIA PVT. LTD.

Website

https://cipsatec.com

Company type

Private

Founded year

2006

Operating status

Operating

Short description

CIPSA-TEC is an Indian-owned PCB manufacturer producing double-sided, multi-layer, and metal clad printed circuit boards for Tier 1/2 automotive, energy, telecom, railway, and industrial automation OEMs in India and Europe.

Ownership category

akta.pro rank

Product category

PCB Manufacturing

NAICS

Bare Printed Circuit Board Manufacturing (334412)

SIC

Printed Circuit Boards (3672)

akta.pro primary industry

PCB Fabrication (Rigid PCBs) (HDAHAOAG)

Keywords

• Printed circuit boards
• PCB manufacturing
• Multilayer PCBs
• Automotive electronics PCBs
• Metal clad PCBs

Headquarters

HQ city

Tumkur District

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. PCB Manufacturing & Sales: Revenue generated from manufacturing and selling double-sided and multi-layer PCBs, including standard products and customized solutions for various industries ranging from single prototypes to mass production scaling up to a million units.
2. Value Engineering Services: Providing value engineering during New Product Development (NPD) as part of comprehensive PCB solutions

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

CIPSA-TEC manufactures high-quality double-sided and multi-layer printed circuit boards (PCBs) using FR4/CEM3 and aluminum-based materials, ranging from 0.8mm to 3.2mm thickness with 18-105 micron copper base. The company produces Double Layer PCBs, Multi Layer Boards (up to 3 oz copper outer layers and 2 oz inner layers), and Metal Clad PCBs for thermal management applications, scaling from R&D prototypes to mass production of up to a million units.

Product overview

CIPSA-TEC India Private Limited offers a focused portfolio of high-quality printed circuit board products, specializing in double-sided and multi-layer PCBs alongside metal clad thermal management solutions. The product line includes Double Layer PCBs (FR4/CEM3 materials, 0.8-3.2mm thickness), Multi Layer Boards (supporting up to 3 oz copper), and Metal Clad PCBs (aluminum-based for thermal management). These products serve diverse industries including Automotive, Energy, Telecommunication, Industrial Automation, Railways, and Consumer Electronics manufacturing across India and Europe.

Differentiator

Problem solved

Functional benefit

Products and services

• Double Layer PCBs Precision-engineered double-sided PCBs made with FR4 or CEM3 materials, ranging from 0.8mm to 3.2mm thickness with 18-105 micron copper base. Features minimum hole size of 0.3mm and supports HASL and HAL Lead-Free surface finishes. Used by automotive OEMs and Tier 1/2 suppliers for instrument clusters, BCMs, BMS, sensors, and other electronics.
• Multi Layer Boards Advanced multi-layer PCBs from 0.8mm to 3.2mm thickness supporting up to 3 oz copper for outer layers and 2 oz for inner layers. Features minimum hole size of 0.3mm with surface finishes including HASL and HAL Lead-Free options. Targeted at applications requiring complex circuitry such as automotive electronics, energy meters, telecom infrastructure, and industrial automation.
• Metal Clad PCBs Specialized PCBs featuring an aluminum-based metal base that enhances heat dissipation for efficient thermal management and robust mechanical strength. Customizable thermal conductivity and dielectric breakdown properties available per customer specifications. Targeted at LED lighting and automotive electronics applications.

Quantifiable outcome

• 95% Customer Satisfaction
• +3 more outcomes

Named customers10 records

Segments6 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered minor and core.

• Tecnomec, ItalyminorStrategic or Co-development PartnerJoint venture established in 2009 with Tecnomec, an Italian PCB manufacturer, for technology sharing and strategic collaboration in PCB manufacturing.
• Circuit Makers, SingaporeminorStrategic or Co-development PartnerPartnership established in 2013 with Circuit Makers, Singapore, as a new strategic partner for PCB manufacturing collaboration.
• RIC (Rao Insulating Company)coreStrategic or Co-development PartnerCIPSA-TEC acquired the business of RIC, a pioneer in the Indian PCB industry originally established in 1987 in collaboration with UNICAP, Taiwan. RIC was founded in Doddaballapur, establishing CIPSA-TEC's foundation in the PCB industry.
• Onyx Components & Systems Pvt LimitedminorStrategic or Co-development PartnerMr. Pokala Srinivas, Director at CIPSA-TEC, is also Managing Director of Onyx Components & Systems Pvt Limited, a distribution company headquartered at Hyderabad, India. This represents a strategic connection in the component distribution ecosystem.
• Spur DTDS Microwave Pvt LimitedminorStrategic or Co-development PartnerMr. Harish H.V., Director at CIPSA-TEC, is also Managing Director of Spur DTDS Microwave Pvt Limited, Bangalore. This represents a strategic connection in the aerospace, defense, and microwave technology sectors.

Scale indicators10 records

Recent moves12 records

Expansion highlights6 records

Regional players

• Epitome India (Lyka Labs / other Indian PCB peers): Emerging Indian PCB manufacturer focused on the domestic market with single/double-sided and multi-layer boards; comparable as a fellow regional Indian PCB supplier targeting the same localization demand from Indian Tier 1/2 customers.

Direct peers

• Ascent Circuits: Indian PCB manufacturer producing multi-layer, double-sided, and metal-clad PCBs for automotive, industrial, and power electronics customers; directly comparable product portfolio and India-focused customer base.
• Hical Technologies: India-based manufacturer of bare PCBs and electronic components serving automotive, industrial, and aerospace/defense customers; directly comparable as a domestic PCB supplier with similar automotive-grade positioning.
• Epitome Components: Indian PCB manufacturer focused on double-sided, multi-layer and metal-clad PCBs for automotive, power, and industrial customers; comparable as another domestic Indian PCB fabricator targeting similar Tier 1/2 OEM accounts.
• Meena Circuits (Meena Electricals): One of India's largest domestic PCB manufacturers serving automotive, industrial, and consumer segments; directly comparable as a homegrown Indian PCB fabricator competing for similar OEM Tier 1/2 wallet share and India-China+1 demand.
• PCB Power (Circuit Systems India): Indian PCB fabricator serving automotive, telecom, industrial, and consumer electronics customers with multi-layer, single/double-sided and metal-clad boards; directly comparable in scale, geography, and end-market mix.

Broad incumbents

• Unimicron Technology: Taiwanese PCB and IC substrate manufacturer and one of the largest in the world; comparable as a broad incumbent whose multi-layer PCB and substrate products overlap with CIPSA-TEC's rigid multi-layer offerings for automotive and industrial customers.
• Shennan Circuits: Major Chinese PCB manufacturer serving communications, automotive, and industrial customers with multi-layer and advanced PCBs; comparable as a global incumbent whose automotive/industrial PCB portfolio competes with CIPSA-TEC's offerings.
• AT&S (Austria Technologie & Systemtechnik): Global PCB and IC substrate leader with manufacturing in Austria, China, India (Nanjangud), Korea and Malaysia; comparable as a larger established incumbent operating globally in PCB fabrication, including a significant Indian footprint that competes for similar automotive and industrial OEM business.
• TTM Technologies: Large US-headquartered PCB manufacturer serving aerospace/defense, automotive, computing, and industrial customers; comparable as a broad incumbent in PCB fabrication with overlapping automotive and industrial end markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cipsa-tec-india-private-limited

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CIPSA-TEC India Pvt Ltd