Pune, India | 26th April 2023 | NSE: KPITTECH BSE: 542651: KPIT Technologies, a global partner to the automotive and mobility ecosystem for making software-defined vehicles a reality, announced financial results for Q4 FY23 today.
TCV of new engagements won during
Q4 FY23: $ 423 million
(Includes TCV of ~ $ 250 Million for strategic engagement with Honda)
Commenting on the performance of FY23
Ravi Pandit, Co-founder and Chairman, KPIT said,
“The Mobility Industry is one of the larger contributors to global carbon footprint. Huge investments are being made and planned towards a sustainable future. We are proud to be intensely involved in this over the years and we will be a major technology led contributor towards this transformation. We are committed to achieve our vision of creating a Cleaner, Safer and Smarter world. FY23 was another satisfying year of sustainable growth and margin expansion, and we are excited and confident about our performance going forward”.
Kishor Patil, Co-founder, CEO and MD, KPIT said,
“We have consistently delivered eleven sequential quarters of healthy growth in revenues and operating profits. On the back of a solid quarter and year performance and basis recent mega engagements and committed spend on software by our Strategic Clients, we are witnessing robust demand and increased visibility for the next 3-4 years. We are focused on helping our clients create new business models to transform their business. We start FY24 on a strong footing and expect to deliver CC revenue growth of 27%-30% with EBITDA margins between 19%-20%.”
Sachin Tikekar, President and Joint MD, KPIT said,
“We start FY24 on the back of closure of key strategic, long-term engagements with Q4 wins TCV of $ 423 Million. We will focus on alignment and collaboration of practices to address larger problems of our clients through broader technology solutions. We are committed to building scale through robust competency framework, flawless execution and on-boarding the right talent with higher competency. We will channelize our investments towards creating trusted partnerships with our clients to effect greater value creation, in the coming years.”
KPIT Technologies is a global partner to the automotive and mobility ecosystem for making software-defined vehicles a reality. It is a leading independent software development and integration partner helping mobility leapfrog towards a clean, smart, and safe future. With 10,000 automobelievers across the globe specializing in embedded software, AI, and digital solutions, KPIT accelerates its clients’ implementation of next-generation technologies for the future mobility roadmap. With engineering centers in Europe, the USA, Japan, China, Thailand, and India, KPIT works with leaders in automotive and mobility and is present where the ecosystem is transforming.
For more details visit www.kpit.com
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