KPIT Q2FY21 Performance Overview
KPIT Q2FY21 Net Profit rises 16.1% Q-o-Q, EBITDA at 14.3% as compared to 13.4% last quarter
Net Profit for the quarter stood at
₹ 279 million as compared to ₹ 240 million last quarter
Net Cash as at the quarter end stood at ₹ 5,278 Million as compared to ₹ 3,278 at the beginning of the year
Q2FY21 reported revenue at USD 65.32 Mn, flattish over Q1FY21. Change in revenue mix, lower onsite, reflect volume growth.
Management Quotes
Kishor Patil, Co-founder, CEO and MD, KPIT said,” The revenue for the quarter was in line with our expectation and we delivered better on profitability. Change in revenue mix helped us grow volumes and we expect offshoring to increase for a couple of quarters. Despite rupee appreciation, we increased operating margins on the back of improved operational efficiency and productivity. We are confident of growth and further margin improvement in H2 over H1”.
Kishor PatilCo founder, CEO and MD, KPIT
Sachin Tikekar, President and Whole-time Director, KPIT said,” Our clients are witnessing a steady build up in their operations and we persist to drive zero defect delivery and uphold our commitments to them. We continue to invest in relevant practices aligned to CASE (Connected, Autonomous, Shared, Electric). Our pipeline remains strong with a few strategic deals, reiterating our position as a software integrator partner to our clients”.
Sachin TikekarPresident and Whole time Director, KPIT
Deal Wins
A leading American Car Manufacturer selected KPIT for a program in the autonomous driving area
A leading American Car Manufacturer selected KPIT for a program in the connected domain
A leading German Car Manufacturer selected KPIT for a program in the electric powertrain area
A leading European Car Manufacturer selected KPIT for a program in the invehicle networking area
A leading Asian Car Manufacturer selected KPIT for a program in the connected domain
Financial and operational Data
Profit & Loss Account Snapshot
INR MN
| DETAILS | Q2FY21 | Q1FY21 | Q2FY20 |
| Revenue from Operations | 4,854.59 | 4,927.10 | 5,440.98 |
| Other Income | 24.52 | 25.17 | 90.03 |
| Total Income | 4,879.11 | 4,952.27 | 5,531.01 |
| Operating Expenses | 4,158.04 | 4,283.19 | 4,714.31 |
| EBITDA | 696.55 | 662.37 | 726.67 |
| Depreciation | 354.90 | 330.03 | 265.08 |
| EBIT | 341.65 | 332.34 | 461.59 |
| Finance Costs | 43.70 | 49.31 | 59.31 |
| Change in FMV of Investments | 0.68 | 3.21 | (63.53) |
| Profit Before Exceptional Items | 323.15 | 292.95 | 428.78 |
| Exceptional items | 32.04 | – | 24.92 |
| PBT | 355.19 | 292.95 | 453.70 |
| Tax | 83.66 | 50.70 | 86.40 |
| PAT | 271.53 | 242.25 | 367.30 |
| Profit Attributable to owners of company | 278.88 | 240.17 | 359.12 |
| Profit Attributable to non-controlling interest | (7.35) | 2.08 | 8.18 |
Balance Sheet Snapshot
INR MN
| ASSETS | Q2FY21 | Q1FY21 |
| NON-CURRENT ASSETS | ||
| Property, Plant & Equipment | 2,086.65 | 2,095.86 |
| Right-of-use Assets | 2,668.92 | 2,977.66 |
| Other Tangible Assets | 78.82 | 83.28 |
| Goodwill & Other Intangibles | 1,508.28 | 1,652.68 |
| Other Non-Current Assets | 860.98 | 987.39 |
| TOTAL NON-CURRENT | 7,203.65 | 7,796.87 |
| CURRENT ASSETS | ||
| Inventories | 45.05 | 76.25 |
| Cash and Cash Equivalents | 5,462.39 | 4,318.57 |
| Trade Receivables | 3,207.61 | 4,345.75 |
| Other Current Assets | 1,784.94 | 1,969.97 |
| TOTAL CURRENT | 10,499.99 | 10,710.54 |
| TOTAL ASSETS | 17,703.64 | 18,507.41 |
| EQUITY & LIABILITIES | Q2FY21 | Q1FY21 |
| Equity Share Capital | 2,689.63 | 2,689.02 |
| Other Equity | 8,275.81 | 7,930.92 |
| Equity attributable to owners | 10,965.44 | 10,619.94 |
| Non-controlling interests | 13.92 | 21.03 |
| TOTAL EQUITY | 10,979.36 | 10,640.97 |
| NON-CURRENT LIABILITIES | ||
| Borrowings | NIL | NIL |
| Lease Liabilities | 2,022.30 | 2,356.68 |
| Other Non-Current Liabilities | 97.63 | 159.76 |
| TOTAL NON-CURRENT | 2,119.93 | 2,516.44 |
| CURRENT LIABILITIES | ||
| Borrowings | 184.20 | 380.08 |
| Trade Payables | 958.38 | 902.14 |
| Lease Liabilities | 403.36 | 461.45 |
| Others | 3,058.41 | 3,606.33 |
| TOTAL CURRENT | 4,604.35 | 5,350.0 |
| TOTAL EQUITY AND LIABILITIES | 17,703.64 | 18,507.41 |
Revenue Break-up
USD MN
| Geography | Q2FY21 | Q1FY21 | Q2FY20 | Q-o-Q | Y-o-Y |
| US | 27.30 | 27.45 | 34.19 | (0.6)% | (20.1)% |
| Europe | 26.67 | 25.74 | 27.55 | 3.6% | (3.2)% |
| Asia | 11.34 | 12.06 | 15.49 | (5.9)% | (26.8)% |
| TOTAL | 65.32 | 65.25 | 77.23 | 0.1% | (15.4)% |
| Verticals | Q2FY21 | Q1FY21 | Q2FY20 | Q-o-Q | Y-o-Y |
| Passenger Cars | 50.63 | 50.76 | 58.58 | (0.3)% | (13.6)% |
| Commercial Vehicles | 14.05 | 13.55 | 17.16 | 3.7% | (18.1)% |
| New Mobility | 0.33 | 0.61 | 0.78 | (45.1)% | (57.5)% |
| Others | 0.31 | 0.33 | 0.71 | (8.9)% | (56.9)% |
| TOTAL | 65.32 | 65.25 | 77.23 | 0.1% | (15.4)% |
| Practices | Q2FY21 | Q1FY21 | Q2FY20 | Q-o-Q | Y-o-Y |
| Powertrain | 24.18 | 23.92 | 28.64 | 1.1% | (15.6)% |
| AD ADAS | 16.38 | 14.37 | 15.29 | 14.0% | 7.1% |
| Connected Vehicle | 7.32 | 8.24 | 9.88 | (11.11)% | (25.9)% |
| Others | 17.44 | 18.72 | 23.42 | (6.8)% | (25.5)% |
P&L Metrics
| Q2FY21 | Q1FY21 | Q2FY20 | Q-o-Q | Y-o-Y | |
| Revenue by Contract Type | |||||
| Time & Material Basis | 52.0% | 48.2% | 54.4% | 7.9% | (19.1))% |
| Fixed Price Basis | 48.0% | 51.8% | 45.6% | (7.2)% | (11.0)% |
| Clients | |||||
| Strategic Client Revenue (T21)* | 86.1% | 86.0% | 82.8% | 0.2% | (12.06)% |
| Active Clients | 55 | 55 | 55 | ||
| Revenue per Devp. Employee USD | 42,602 | 41,394 | 45,647 | ||
| EBITDA Margin | 14.3% | 13.4% | 13.4% | ||
| EBIT Margin | 7.0% | 6.7% | 8.5% | ||
| PAT Margin | 5.7% | 4.9% | 6.6% | ||
| Effective TaxRat | 23.6% | 17.3% | 19.0% | ||
| EPS(Basic) | 1.04 | 0.89 | 1.34 | ||
| EPS(Diluted) | 1.03 | 0.89 | 1.33 |
*Out of the target 25, strategic relationships with 21 accounts established and hence revenue for those accounts considered
QUARTERLY REPORTS
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Details of Nodal Officer
Name: Nida Deshpande
E-mail: Nida.Deshpande @ kpit.com
Corporate Governance
Board Meetings
Investor Contacts
For any investor related queries, you may contact
Sunil Phansalkar Sunil.Phansalkar @ kpit.com
Investor Relations
Plot No. 17, Rajiv Gandhi Infotech Park, MIDC-SEZ, Phase-III, Hinjawadi, Pune – 411057
For speedy redressal, the shareholders may send their grievances to
Priya Hardikar Priya.Hardikar@kpit.com
Head of Corporate Finance and Governance
Plot No. 17, Rajiv Gandhi Infotech Park, MIDC-SEZ, Phase-III, Hinjawadi, Pune – 411057
For any Shareholder related queries, you may contact
Nida Deshpande nida.deshpande @ kpit.com
Company Secretary & Compliance Officer
Nodal Officer
Plot No. 17, Rajiv Gandhi Infotech Park, MIDC-SEZ, Phase-III, Hinjawadi, Pune – 411057
Registrar & Share Transfer Agent
KFin Technologies Private Limited (Formerly known as Karvy Fintech Private Limited)
Mr. S V Raju einward.ris@kfintech.com
Selenium Building, Tower-8, Plot No- 31 & 32, Financial District, Nanakramguda, Serilingampally, Hyderabad - 500032, Telangana, India,
www.kfintech.com,
Tel No. +91 40 67162222
KFin Technologies Private Limited (Formerly known as Karvy Fintech Private Limited)
Mr. Mohan Kumar mohan.a@kfintech.com
Selenium Building, Tower-8, Plot No- 31 & 32, Financial District, Nanakramguda, Serilingampally, Hyderabad - 500032, Telangana, India,
www.kfintech.com,
Tel No. +91 40 67162222
Since last 25 years, KPIT Technologies has been working with mobility and automotive companies, providing technology solutions for making mobility cleaner, smarter and safer. In Jan-2018, KPIT announced a restructure to merge with Birlasoft and then demerge to focus only the Mobility and the Automotive sector. This entity was hence incorporated as a public limited company on 8th January, 2018 under the Companies Act, 2013.
On March 13, 2019, name of the company changed from “KPIT Engineering Limited” to “KPIT Technologies Limited”.
The registered office of the company is located at:
Plot No. 17, Rajiv Gandhi Infotech Park
Phase III, MIDC – SEZ, Hinjawadi
Pune – 411 057, India
Tel: +91 20 6770 6000
The founder members of KPIT are Mr. Ravi Pandit and Mr. Kishor Patil
Reimagining mobility with you for creation of a cleaner, smarter & safer world
KPIT specializes in embedded software, AI & digital solutions for the automotive and mobility industry enabling its customers accelerate implementation of next generation mobility technologies.
KPIT has software development centers located in Pune, Bangalore, Mumbai, Noida, Chennai (India), Munich (Germany), Raleigh (US) and Folsom (US). We have 31 global offices across 16 countries.
The Company is in the process of filing the listing application with stock exchanges. This section will be available for investors once the Company is listed with the stock exchanges.
Ms. Nida Deshpande is the Compliance Officer/Company Secretary of KPIT.
Please contact the Company Secretary on the above-mentioned address
You can get in touch with Mr. Sunil Phansalkar from the investor relations team at sunil.phansalkar @ kpit.com