KPIT Technologies reports strong performance in Q1FY22; share gains on Tuesday

The stock has delighted investors by delivering gains of 347.35 per cent in the last one year & 108.03 per cent in 2021, so far.

KPIT Technologies, an Indian multinational corporation, announced its quarterly results for Q1FY22. During the year, the company has also entered T25 engagements across geographies.

In terms of USD, the revenue grew by 18.3 per cent on a YoY basis. In terms of rupees, comparable net profit exhibited a growth of 30 per cent sequentially. The net profit excluded a one-time tax gain of Rs 5.7crore as a result of the merger of impact automotive, which is now accounted for in Q4FY21. The net cash at the end of the quarter stood at Rs 878.6 crore as compared to Rs 8,22.4 crore reported in the last quarter. Meanwhile, the debt was reported to be zero. 

To further highlight the quarterly performance, a sequential CC growth of 4.3 per cent was seen across passenger cars and commercial vehicle verticals, led by growth in autonomous & connected practices. The EBITDA margin expanded despite fresher addition and acquisition-related expenses. Improvement in utilisation, reduction in sub-contractor costs, and revenue growth were traced to be the reason for margin expansion. The net profit growth of approximately 30 per cent was aided by lower depreciation costs and improved other income due to rupee depreciation. The company achieved high cash conversion with DSO at 50 days. It was the tenth consecutive quarter of the increase in net cash. 

KPIT Technologies Limited is an Indian multinational corporation headquartered in Pune (Maharashtra). Popularly known as KPIT, it provides software to automotive companies. KPIT has development centers in Europe, USA, Japan, China, Thailand & India. 

The stock has delighted investors by delivering gains of 347.35 per cent in the last one year & 108.03 per cent in 2021, so far.  

On Tuesday, the share of KPIT was trading at Rs 299.50 per share, up by 1.61 per cent on BSE.