Organic growth led by Middleware & Architecture Consulting and Passenger Car vertical. Full quarter consolidation of Technica during the quarter. This quarter is seasonally the best quarter for Technica in terms of revenue and profitability.
EBITDA margins for the quarter flattish at 18.5% post impact of deal related and integration related expenses during the quarter. Integration expenses will continue over the next 2 quarters. Technica operating margins in line with expectations at ~ 20%+
Higher other income to the tune of ~ ₹ 90 million (₹ 185 M in Q3FY23 vs ₹ 95 M in Q2FY23) on account of translation related foreign exchange gains resulting mainly from strong rupee depreciation against the Euro and GBP
Net Cash at quarter end stood at ₹ 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 ₹ 1.45 per share declared.
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 healthy pipeline and demand driven by client investments in Software Defined Vehicles, gives us 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 a sustainable profitable growth in the medium term.
Co founder, CEO and MD, KPIT
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.
President and Joint Managing Director, KPIT
A leading European Car Manufacturer selected KPIT for a multiple engagements in the electric powertrain domain
A leading European Car Manufacturer awarded KPIT a strategic engagement in the connected vehicles domain
A leading American Commercial Vehicle Manufacturer selected KPIT for multiple engagements in the vehicle engineering design and diagnostics domains
A leading Asian Car Manufacturer selected KPIT for multiple strategic programs in the autonomous driving and connected vehicle domains
A leading American Car Manufacturer awarded KPIT multiple programs in the middleware, electric powertrain and connected vehicles domains
* Includes $ 100 Million from Mega Engagement with Renault