Pune, India | 29 April 2024 | NSE: KPITTECH BSE: 542651: KPIT Technologies, an independent software integration partner to the automotive and mobility ecosystem for making software-defined vehicles a reality, announced financial results for Q4 FY24 and FY24 today.
Ravi Pandit, Co-founder and Chairman, KPIT said,
“Since our landmark demerger in 2019, we have been truly living our Vision of Reimagining Mobility with you for creation of a cleaner, safer and smarter world. The world of Mobility is transforming at a pace faster than ever before. We are proud to be at the forefront of these technology transformations with focus on sustainability – for our clients, employees, internal operations and the world at large. Our 40%+ growth is a testimony to global needs and our expertise. We are confident about our performance going forward.”
Kishor Patil, Co-founder, CEO and MD, KPIT said,
“We have consistently delivered fifteen sequential quarters of healthy growth in revenues and operating profits. Software content inside and outside the vehicle is growing in areas of alternate fuel technologies, autonomous and connectivity. Global OEMs are pledged to changing their business model. Basis committed investments by our Strategic Clients, a strong pipeline and solid wins of $ 261 million in Q4, we continue to witness robust demand. We start FY25 on a strong footing and expect to deliver CC revenue growth of 18%-22% with EBITDA margins of 20.5%+.”
Sachin Tikekar, President and Joint MD, KPIT said,
“We start FY25 on back of a solid Q4 and FY24 operational performance. We are uncompromising on our focus on Strategic Client Partnerships, Technology Innovations, People and Zero-Defect Deliveries. We will pivot our investments on enhancing domain practices and sharpen our focus on Commercial Vehicles and Asia strategy. We have launched a new ESOP scheme to strengthen the long term incentivization for our people. Our internal sustainability goals have been set and the prime focus in FY25 would be on execution towards achieving these goals.”
About KPIT:
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 around 13000 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
MEDIA CONTACTS
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Sunil Phansalkar Head, Investor Relations | sunil.phansalkar@kpit.com