Here's a quick summary from the publication that was originally published by Fortune India
In 2019, KPIT Technologies underwent a significant restructuring, transitioning away from its IT business to focus solely on automotive engineering and mobility solutions. Since then, KPIT has experienced remarkable growth, increasing its revenue from $71 million in Q4FY19 to $149 million in Q3FY24.
"We made a strategic move, banking on the transformations within the automotive sector, with a targeted focus on the top 25 OEMs worldwide," Stated Patil.
Led by CEO and MD Kishor Patil, KPIT, made strategic decisions to align with its new focus, targeting the top 25 global OEMs in the automotive industry. The company's workforce has expanded to nearly 12,000 employees, with a notable increase in core staff. KPIT's EBITDA margin has also seen substantial improvement, rising from 15.2% in FY21 to 20.6% in Q3FY24.
Key revenue drivers include architecture consulting and middleware practice, accounting for over 50% of KPIT's revenue. KPIT collaborates with major global OEMs such as Renault, BMW, Ford, and General Motors, focusing particularly on the passenger car segment, which constitutes approximately 40% of its vertical revenue.
KPIT has strategically acquired companies to enhance its offerings, including SOMIT Solutions in the UK and QORIX, a subsidiary formed from its tie-up with the German-based ZF group. In addition, KPIT has entered the car gaming industry through a stake acquisition in N-Dream, and it has also introduced Sodium-ion battery technology as an alternative to lithium-ion batteries in EVs.
KPIT's focus on automotive engineering and mobility solutions, coupled with strategic acquisitions and technological innovations, positions it for continued growth and success in the evolving automotive industry.
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Plot Number-17,
Rajiv Gandhi Infotech Park,
MIDC-SEZ, Phase-III,
Hinjawadi, Pune – 411057
Phone: +91 20 6770 6000
Frankfurter Ring 105b,80807
Munich, GERMANY
Phone: +49 89 3229 9660
Fax: +49 89 3229 9669 99
