KPIT Technologies to acquire PathPartner; stock makes new 52-week high
KPIT Technologies, on Monday after the market hours announced the signing of a definitive agreement to acquire a controlling stake in PathPartner Technology.
PathPartner is a specialist design service & solution provider of operating system software as well as low-level software for automotive, camera, radar, and multimedia devices. The deal is subject to customary closing conditions and is expected to get closed in Q2FY2021-22.
Reacting to this, the company’s stock today increased by 7.74 per cent and made a new 52-week high of Rs 257.50 per share. The stock of the company has increased by 307 per cent from its decline in June 2020.
The company reported a net profit of Rs 47.05 crore in Q4FY21. In Q4FY20, it had reported a net profit of Rs 38.10 crore, which is an increase of 23.48 per cent. The company reported net sales of Rs 540.33 crore for Q4FY21, a decrease of 2.86 per cent, as against the net sales of Rs 556.23 crore for Q4FY20.
KPIT is a global technology company with software solutions that will help mobility leapfrog towards an autonomous, clean, smart, and connected future.
According to BSE data, the stock traded at a P/E multiple of 60.73 and price-to-book ratio of 5.67. The stock has a 52-week high and a 52-week low of Rs 257.50 and Rs 58.50, respectively.
At 1.45 pm today, the share of the company was trading at Rs 250.85 per share on BSE, up by 4.96 per cent.