KPIT Technologies, an independent software integration partner to the automotive and mobility ecosystem for making software-defined vehicles a reality, announced financial results for Q2FY25 today.
Performance overview
- Revenues at $173MN with CC growth of 20.1% Y-o-Y and $ revenue growth of 19.3% Y-o-Y
- Growth led by Middleware, Powertrain domains
- Growth led by Asia geography and Passenger Car Vertical
- Q2 FY25 EBITDA and PAT
- EBITDA at 20.8%, sequential growth of 5.6%
- PAT stands at INR 2037MN, growing at 44.7% YoY, includes one-time gain in Q2 FY25
- TCV of new engagements won during Q2 FY25: $207 million
- Talent
- Largest pool of automotive software specialists – Global employee count at 13000+
- Focus on productivity and competency development aided by AI
- Industry-leading long-term benefits, promotions and increments rolled out
Commenting on the performance of Q2 FY25
Kishor Patil, Co-founder, CEO and MD, KPIT said, “We are happy to have delivered yet another quarter of well-balanced growth. The Mobility Industry, specifically the Automotive sub vertical, has been under pressure to keep up with the changing regulations, reduce cost of vehicles and meet demands of the ever-changing consumer preferences in recent times. We continue to prioritize investments in technology and markets ahead of demand to help our T25 clients stay on the cutting edge of technology and competitiveness, basis which, we reiterate our revenue growth and profitability outlook for the full year. We have taken an enabling board resolution for fund-raising in view of some of the strategic opportunities that are on the horizon. The actual fundraise will happen only when some of these potential prospects are in advanced stages of discussion.”
Sachin Tikekar, President and Joint MD, KPIT said, “In anticipation of changes in the Mobility Industry, we have doubled down our efforts to help our T25 clients reduce the cost of their vehicles and cut the time to market in the areas of software and system integration. Our investments in Trucks and Off-Highway sub-verticals are on track to expand market opportunities for us in the mid-term. The efforts on broad-basing growth within our T25 clients are showing promising results. Overall, we have had robust wins during the quarter. Our attrition remains at the lowest level for us, while we commit to further investments in competency and leadership development. We are reaching all milestones concerning the goals set up towards Sustainability, in line with our Vision of making Mobility cleaner, safer and smarter.”