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KPIT Technologies Results: Latest Quarterly Results & Analysis

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KPIT Technologies Ltd. 29 Jan 2025 13:44 PM
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Q3FY25 Quarterly Result Announced for KPIT Technologies Ltd.

IT Consulting & Software company KPIT Technologies announced Q3FY25 results

  • Revenue growth 17.4% in CC and 18.1% in USD, YoY Growth led by Powertrain and Connected.
  • Q3FY25 Net Profit at Rs 1,870 million, 20.4% YoY growth YTD Q3FY25 PAT growth 38%
  • Q3FY25 EBITDA at 21.1% YoY EBITDA growth of 20.8%.
  • Wins and Dividend: USD 236 million worth engagements closed in the quarter Interim Dividend of Rs 2.50 per share.

Kishor Patil, Co-founder, CEO and MD, KPIT said:” The third quarter revenues are in-line with our annual revenue outlook while the operating profit has improved due to revenue mix change and productivity improvement, despite currency headwinds. Thus, we increase our annual EBITDA Margin outlook to 21% from 20.5% earlier. We are investing in AI technologies fined tuned with automotive-specific data. Our AI philosophy is rooted in developing human-centric, innovative, safe, and responsible AI solutions that drive value creation for our clients. We will leverage these AI investments to augment our talent pool, while creating new opportunities for future growth. Our leadership and strength of relationship with our T25 clients is demonstrated by higher deal closures, efficient cash conversion and robust build-up in the pipeline.”

Sachin Tikekar, Co-founder and Joint MD, KPIT said:” We have been developing new sub-verticals viz Trucks and Off-highway. There are sizable opportunities through these investments, and they are now contributing to building our pipeline across the geographies. These will contribute to our growth from the second half of the next financial year. There are new relationships being explored and built with the Passenger Car and Truck makers in China and Rest of Europe outside Germany. In terms of our new offerings, there is greater interest from our T25 clients in the areas of vehicle cost reduction, cyber security and data-oriented services. Our attrition remains at all-time low levels and our leadership development programs are in full swing to further enhance our continued growth.”

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IT Consulting & Software company KPIT Technologies announced Q2FY25 results
  • Q2FY25 CC Revenue grows 20.1% YoY.
  • Q2FY25 Profit (PAT) grows 23.9% YoY.
  • Reported USD Revenue growth of 19.3% YoY Growth led by Middleware and Powertrain.
  • Q2FY25 Net Profit at Rs 2,037 million 44.7% (incl one-time gain) growth in profit YoY.
  • Q2FY25 EBITDA at 20.8% YoY EBITDA growth of 27.7%.
  • USD 207 million worth engagements closed in the quarter Healthy Pipeline level across practices.

Kishor Patil, Co-founder, CEO and MD, KPIT said: ” We are happy to have delivered yet another quarter of well-balanced growth. The Mobility Industry, specifically the Automotive sub vertical, has been under pressure to keep up with the changing regulations, reduce cost of vehicles and meet demands of the ever-changing consumer preferences in recent times. We continue to prioritize investments in technology and markets ahead of demand to help our T25 clients stay on the cutting edge of technology and competitiveness, basis which, we reiterate our revenue growth and profitability outlook for the full year. We have taken an enabling board resolution for fund-raising in view of some of the strategic opportunities that are on the horizon. The actual fund raise will happen only when some of these potential prospects are in advanced stages of discussion.”

Sachin Tikekar, Co-founder and Joint MD, KPIT said: ” In anticipation of changes in the Mobility Industry, we have doubled down our efforts to help our T25 clients reduce the cost of their vehicles and cut the time to market in the areas of software and system integration. Our investments in Trucks and Off-Highway sub-verticals are on track to expand market opportunities for us in the mid-term. The efforts on broad-basing growth within our T25 clients are showing promising results. Overall, we have had robust wins during the quarter. Our attrition remains at the lowest level for us, while we commit to further investments in competency and leadership development. We are reaching all milestones concerning the goals set up towards Sustainability, in line with our Vision of making Mobility cleaner, safer and smarter.”

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IT Consulting & Software company KPIT Technologies announced Q1FY25 results:
  • Q1FY25 Net Profit at Rs 2,042 million 52.4% (incl one-time gain) growth in profit YoY
  • Q1FY25 EBITDA at 21.1% YoY EBITDA growth of 31.0%
  • USD 202 million worth engagements closed in the quarter Healthy Pipeline level across practices
  • Q1FY25 Profit (PAT) grows 42.2% YoY
  • QoQ CC growth of 4.7% and reported USD growth of 3.7%. Growth led by passenger cars.
  • EBITDA margins improved to 21.1% post two months of ESOP cost and quarterly promotions, mainly due to fixed cost leverage. Sequential EBITDA growth of 5.6%
  • Net Cash Balance at the end of the quarter stood at Rs 10.01 billion, depicting a net cash addition of Rs 1.50 billion. DSO at the end of the quarter stood at 46 Days.

Kishor Patil, Co-founder, CEO and MD, KPIT said,” We have started the year on a positive note with an all-round robust performance. While the mobility industry is going through certain pressures on the demand and profitability fronts, we are proactively investing in creating relevant large, differentiated offerings to support our clients reduce their costs and time-to-market. We are also investing in adjacencies and newer geographical markets. We expect creation of meaningful growth opportunities via both these investments and continue with the growth momentum, paving way for a fair demand visibility in the medium term.”

Sachin Tikekar, Co-founder and Joint MD, KPIT said,” Our attention remains on making Software Defined Vehicles (SDV) a reality for our clients, so that they realize its benefits. We are working on productivity and competency improvement aided by AI, to improve our competitiveness and offer differentiated offerings to clients. The attrition numbers continue to drop further, justifying our continual investments in overall people development. Sustainability, in line with our Vision of ‘a cleaner, safer and smarter world’ is one of the prime key result areas for us. We are anchoring our goals on Science Based Targets (SBTs) towards carbon neutral footprint of our own.”

Result PDF

IT Consulting & Software company KPIT Technologies announced Q3FY24 results:

Financial Highlights

  • Revenue from Operations

    :     Q3FY24 revenue stood at Rs 12,569.62 million, a significant increase from Q3FY23 which was Rs 9,171.15 million, marking a YoY growth of 37.0%.
  • EBITDA: The EBITDA for Q3FY24 was Rs 2,585.06 million compared to Rs 1,698.65 million in Q3FY23, showing a YoY increase of 52.2%.
  • Net Profit (PAT): The net profit for Q3FY24 reached Rs 1,553.31 million, an increase of 54.6% over Q3FY23's figure of Rs 1,004.90 million.
  • Earnings Per Share (EPS): Basic and Diluted EPS for Q3FY24 were at Rs 5.73 and Rs 5.69, respectively.
Operational Highlights
  • Revenue Break-up by Geography: US (31.1%), Europe (45.9%), and Asia (10.6%).
  • Client Metrics: Strategic Client Revenue stands at 85%, with a total Active Client count of 60 at period end.
  • Employee Headcount: Development staff numbered 11,949 with an additional 778 in Enabling & Sales, totaling 12,727.

Strategic Wins
  • New engagements won amounted to a Total Contract Value (TCV) of $189 million during the quarter.

Kishor Patil, Co-founder, CEO, and MD: "We continue to focus on execution relentlessly and have been consistently reaping the benefits of our focus on the mobility industry, key technologies, key clients, and key talent. The Q3FY24 revenues have been in line with our expectations, while we have delivered slightly ahead of expectations on the profitability front. Basis our performance so far, robust pipeline, and the consistency of demand driven by new technology investments by our strategic clients, we are confident of meeting our upward revised outlook for the year."

Sachin Tikekar, President and Joint MD: "We are witnessing broad-based traction across technologies, clients, sub-verticals, and geographies. We are increasing our strategic engagements to become Trusted Partners for our strategic clients. As we have seen over the last 4 quarters, the attrition continues to fall and is now at historically low levels. We have significantly moved the needle in our quest for inclusive sustainability across KPIT. We have increased our investments in new technologies and competency development to enable us to deliver complex engagements, successfully."

 

 

Result PDF

IT Consulting & Software company KPIT Technologies announced Q1FY24 results:

  • Reported USD Revenue growth of 49% YoY, 8.2% growth QoQ
  • Net Profit at Rs 1,340 million, grows 20.1% QoQ, and 56.9% YoY
  • EBITDA margin at 20%, YoY EBITDA growth of 65.2%, QoQ 13.3%
  • USD 190 million worth of engagements closed in the quarter; Healthy Pipeline level across practices
  • 7.1% CC growth
  • CC Revenue grows 51.7% YoY

Kishor Patil, Co-founder, CEO, and MD, KPIT said, "We have started the year on a positive note and have delivered a robust all-round performance in line with our expectations of a stronger first half. Opportunities remain stronger as mobility players continue to invest in new technologies, in the areas of electrification, vehicle autonomy, connectivity, and personalization. We have a healthy pipeline and are slightly ahead in the ramp-up of the mega strategic engagements announced last year. This gives us a fair medium-term visibility and we are confident of reaching our stated outlook of revenue growth and operating margins for FY2024”.

Sachin Tikekar, Co-founder and Joint MD, KPIT said, "We are experiencing greater traction with our strategic clients as we move further in creating trusted partnerships with our clients to help them accelerate their transformation. The attrition has been consistently falling over the last 3 quarters. We are investing in improving the quality of hires and building the right competencies and technologies to enable flawless execution. We have started baselining sustainability and co-creating a roadmap with our employees and look forward to scaling our impact in creating a cleaner, smarter, safer world in the years to come through our offerings, operations, and employees.”

 

 

Result PDF

IT Consulting & Software company KPIT Technologies announced Q4FY23 & FY23 results:

  • Q4FY23:
    • Reported USD Revenue growth of 42.1% YoY 8.5% CC growth, 12.1% reported USD growth in QoQ basis
    • EBITDA at 19.1%, 60% YoY growth
    • Net Profit at Rs 1,116 million, 41.5% YoY growth
    • Q4FY23 CC Revenue grows 50% YoY
  • FY23:
    • Reported USD Revenue Growth of 27.4%, FY23 Reported Revenue USD 418 million
    • EBITDA at 18.9%, growth of 45% over FY22
    • Net Profit at Rs 3,810 million, 39% growth over FY22
    • FY23 Revenue grows 36.7% in CC terms

Commenting on the performance of FY23, Ravi Pandit, Co-founder and Chairman, KPIT said, "The Mobility Industry is one of the larger contributors to global carbon footprint. Huge investments are being made and planned towards a sustainable future. We are proud to be intensely involved in this over the years and we will be a major technology led contributor towards this transformation. We are committed to achieve our vision of creating a Cleaner, Safer and Smarter world. FY23 was another satisfying year of sustainable growth and margin expansion, and we are excited and confident about our performance going forward."

Kishor Patil, Co-founder, CEO and MD, KPIT said, "We have consistently delivered eleven sequential quarters of healthy growth in revenues and operating profits. On the back of a solid quarter and year performance and basis recent mega engagements and committed spend on software by our Strategic Clients, we are witnessing robust demand and increased visibility for the next 3-4 years. We are focused on helping our clients create new business models to transform their business. We start FY24 on a strong footing and expect to deliver CC revenue growth of 27%-30% with EBITDA margins between 19%-20%."

 

Result PDF

IT consulting & software firm KPIT Technologies announced Q3FY23 results:

  • Q3FY23:
    • Q3FY23 Revenue Growth of 31.9% YoY, 17.3% QoQ.
    • Q3FY23 Revenue Organic CC Growth of 24.6% YoY and 4.9% QoQ.
    • Q3FY23 Net Profit at Rs 1,005 million.Net Profit growth of 43.5% YoY and 20.4% QoQ.
    • Q3FY23 EBITDA at 18.5%. EBITDA growth of 47.7% YoY and 22.9% QoQ.
    • Engagements & Outlook on track to beat FY23 growth outlook TCV of US$ 272 million won during the quarter.
    • Higher other income to the tune of ~ Rs 90 million (Rs 185 million in Q3FY23 vs Rs 95 million in Q2FY23) on account of translation related foreign exchange gains resulting mainly from strong rupee depreciation against the Euro and GBP
    • Net Cash at the quarter end stood at Rs 6.75 billion post Acquisition related payout of Euro 60 Million which was done solely through internal accruals. DSO stood at 51 days. Interim Dividend of Rs 1.45 per share declared.

Kishor Patil, Co-founder, CEO and MD, KPIT said,” KPIT’s focus over the last 20 years on the Mobility Industry is resulting in consistent growth and robust medium-term visibility. Q3FY23 performance has been better than expectations. Our performance, coupled with a healthy pipeline and demand driven by client investments in Software Defined Vehicles, gives us the confidence of beating our FY23 growth outlook. We are pleased to have the Technica family on board KPIT and contemplate scaling greater heights together. These are exciting times, and we look forward to sustainable profitable growth in the medium term.”

Sachin Tikekar, President and Joint MD, KPIT said,” Our engagements with Strategic Clients are progressively becoming more pertinent and partnership oriented. We are committed to investments in new-age technologies, relevant to the Mobility Industry, to further strengthen our solutions for accelerating the transformation journey of our clients. Our attention is on ensuring successful delivery of large complex engagements, that are also critical to the success of our clients. The employee turnover has shown a declining trend over last 2 quarters. We expect this trend to stay, going forward. We continue to focus on attraction, development and retention of relevant talent, across the globe.”

Result PDF

IT Consulting & Software firm KPIT Technologies Announced Q1FY23 Result :

  • Q1FY23 CC Revenue grows 23% YoY
  • Q1FY23 reports YoY Net Profit growth of 41%
  • Q1FY23 Revenue $ Revenue Growth of 16.4% YoY and 3.2% QoQ
  • Q1FY23 EBITDA at 19.4% against 18.6% last qtr.
  • YoY EBITDA growth of 35.7%, 9.7% QoQ
  • Net Profit at Rs 854 million
  • Net Profit growth of 41% YoY, 8.3% QoQ
  • New wins continue to be stronger TCV of $ 155 million won during the quarter

Kishor Patil, Co-founder, CEO and MD, KPIT said,” The vehicle manufacturers are aiming to earn revenues over the life of the vehicle for sustainable growth. This change will be enabled by CASE and centralized architecture programs, essentially Software Driven Vehicles. KPIT is uniquely positioned as a software integrator, helping global OEMs accelerate this journey. We have started the year on a positive note with an all-round performance, with growth in-line with our plan and healthy margin expansion, despite cross-currency headwinds. We remain optimistic on the overall growth environment”.

Sachin Tikekar, President and Joint MD, KPIT said,” It has been our goal to uphold all our client commitments and help our clients become successful, by leveraging technology. This relentless focus on our strategic clients continues to yield great results, resulting in larger, strategic engagements. Supply side pressures continue to persist, albeit at an eased pace. We have nurtured the existing partnerships and formed new ones with global universities to help attract global talent and aid retention by enabling career growth opportunities to our employees, with focused educational programs”.

Result PDF

IT Consulting & Software company KPIT Technologies declares Q4FY22 result:

  • KPIT FY22 Net Profit grows 88% over FY21
  • Revenue growth of 19.7% in CC terms
  • FY22 reported $ revenue growth of 19.5% volume growth of ~28% driven by higher offshore
  • Q4 FY22 Revenue 
    • CC revenue growth of 21% YoY, 5.2% QoQ
    • $ revenue growth of 17% YoY and 4.1% QoQ
  • Q4 FY22 Profit 
    • Net Profit at Rs 789 million
    • Net Profit growth of 50% YoY, 12.7% QoQ
  • Large Deal
    • Large Engagement with a European OEM.
    • TCV of Euro 70 Million
  • FY23 Outlook 
    • CC Revenue growth in the range of 18% to 21%
    • EBITDA margin to be in the range of 18% to 19%
    • Volume Growth in the range of 25%
  • Sequential CC growth of 5.2% led by autonomous and connected domains. Broad based growth across commercial vehicles and passenger car verticals. Q4 was another good quarter in terms of deal closures.
  • EBITDA expansion of 10 bps despite supply side constraints and fresher additions. Offshore has consistently increased in FY22; ~ 10% over FY21, resulting in higher volume growth and improved margins
  • Sequential double digit net profit growth aided by improvement in operating margins and higher other income. ETR for the quarter lower as a one-time impact. FY22 EPS at 10.05.
  • High cash conversion continued post dividend payout, with DSO at 53 days. Net Cash at quarter end Rs 10.3 billion. 13th consecutive quarter of increase in net cash. Final Dividend of Rs 1.85/share. Total FY22 Dividend Rs 3.10/share

Commenting on the performance of FY22, Ravi Pandit, Co-founder and Chairman, KPIT said,” FY22 was a year of resurgence in many ways, and I am happy with the way we have emerged stronger. The transformation in the Mobility Industry is pointing towards Software Defined Vehicles, aiming for a larger goal of sustainability for all. We have been working in these areas for over 2 decades and will be a major contributor towards this transformation with our expertise and dependability. We are committed towards achieving our Vision of creating a Cleaner, Safer and Smarter World”.

Kishor Patil, Co-founder, CEO and MD, KPIT said,” We have delivered seven sequential quarters of healthy growth and steady margin expansion. The Mobility Industry is investing heavily in CASE and architectural changes to make Software Defined Vehicle a reality. We are witnessing elevated interests from clients to engage in these areas. This gives us great visibility of robust demand for the next 4-5 years. On the back of this, we expect to deliver CC growth of 18%-21% in FY23 with EBITDA margins between 18%-19%. FY23 Volume growth is expected to be ~25%”.

Sachin Tikekar, Co-founder and Joint MD, KPIT said,” The Mobility Industry transformation is seen in both passenger car and commercial vehicle verticals. This is creating demand much higher than supply. We thus, will have a sharper focus on talent attraction, development and retention. We will continue to invest in the right technologies and partnerships to help us deliver value to our clients, making them successful in their transformation. We start FY23 on the back of closure of key strategic, long-term engagements with our T25 clients, giving us clear visibility for another year of profitable growth”

Result PDF

IT Consulting & Software company KPIT Technologies declares Q3FY22 result:

  • KPIT Q3FY22 USD Revenue grows 20% YoY Net Profit growth of 67.6%
  • Q3FY22 CC Revenue growth of 21.2% YoY 5.6% QoQ
  • Q3FY22 EBITDA at 18.5% as against 17.6% last quarter
  • Net Profit for the quarter at Rs 700 million as against Rs 651 million last quarter, QoQ growth of 7.5%
  • Net Cash as at quarter end crosses the Rs 10 billion mark.
  • Interim Dividend of Rs 1.25 per share
  • Annual EBITDA outlook raised, Yearly EBITDA to be around 18%

Kishor Patil, CEO and MD, KPIT said,” The demand environment in the Mobility Industry continues to be robust, especially in the newer technology areas led by electrification, autonomous, connected and architecture changes. Our strategic clients have a medium-term roadmap of sustained investments in these areas, giving us a healthy growth visibility for the next 4-5 years. We are forming the right partnerships within the ecosystem to accelerate our journey towards achieving our Vision. The growth during the quarter was in line with our expectations and we continue to deliver on margin improvement and cash conversion relentlessly. As we enter the last quarter of the financial year, we are confident of delivering on the higher end of our revised yearly outlook and begin the next year on a strong footing.”

Result PDF

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