Tata Electronics exports rose 29% to nearly Rs 1 lakh crore in FY26, highlighting the company’s growing role in Apple’s global supply chain. The iPhone contract manufacturer reported combined exports of Rs 99,128 crore across three entities.
The growth reflects the Tata Group’s expanding electronics manufacturing operations in India. It also supports Apple’s efforts to diversify production beyond China. However, the company’s rising export revenue came alongside a wider net loss and a significant dependence on imported components.
In FY25, the three entities reported combined exports of Rs 76,953 crore. However, the figures are not directly comparable because Tata Electronics System Solutions, the former Wistron business, reported a 15-month financial period in FY25.
The combined export figures cover three entities: Tata Electronics, Tata Electronics System Solutions, and Tata Electronics Products and Solutions, formerly Pegatron Technology India. Tata Electronics holds a 60% stake in Tata Electronics Products and Solutions, while Taiwan-based Pegatron retains the remaining 40%.
Exports to major markets in FY26 included:
Exports accounted for approximately 76% of the entities’ reported production revenue, according to filings with the registrar of companies (RoC).
Despite the strong export performance, the three entities recorded a combined foreign exchange outgo of Rs 1,29,641 crore. This exceeded their foreign exchange earnings and points to substantial reliance on imported components for iPhone manufacturing in India.
The foreign exchange outgo may also include licensing fees and other charges. However, the company filings did not specify the exact breakdown.
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Tata Electronics reported a consolidated net loss of Rs 1,611 crore in FY26, compared with a loss of Rs 69 crore in FY25. The widening loss came despite a sharp increase in revenue.
Consolidated operating revenue rose 96% to Rs 1,29,902 crore in FY26. Domestic sales for Tata Electronics also increased 46% to Rs 30,182 crore during the year.
The results highlight the contrast between the company’s expanding manufacturing business and its profitability. Higher production and exports have strengthened its position in Apple’s supply chain, but the reported loss shows that revenue growth has not yet translated into improved bottom-line performance.
Meanwhile, Apple India reported sales of Rs 1,03,853 crore and a net profit of Rs 5,311 crore in FY26. Its performance provides further context for the scale of Apple’s business in India, although the figures represent a different entity and business scope.
As India seeks to expand its electronics manufacturing base, Tata Electronics’ export growth underscores the country’s growing role in global smartphone production. Its future performance will also depend on managing costs, reducing supply chain vulnerabilities, and improving profitability.
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