KPIT published its Q1 FY20, its second quarterly earnings since it became an automotive ER&D pure-play, since the sale of its IT service business to Birlasoft, last year.
KPIT published its first results since its IPO, as India’s third-largest ER&D services pure-play. Growth slowed down significantly in Q4 FY19, revenues up 13.4% yoy to USD 71m. The company’s EBITDA margin was 12.8%.
Last week, KPIT Technologies, returned to India’s BSE and NSE. The company now has a market cap of approximately USD 410m with its share was introduced at a price of INR 99 and traded in the past few days between INR 103 and INR 115. KPIT has succeeded in its IPO and is now an ER&D service pure-play having sold its IT services business to Birlasoft.
KPIT quietly finalized its merger with the privately-owned Birlasoft. The new company is now called Birlasoft and will be an IT service pure-play. Birlasoft has carved out its automotive engineering business that will be called KPIT.
KPIT released yesterday its Q4 FY18 and full-year FY18 results. The company had a superb performance in Q4 FY18 in its PES business, whose revenues were up 29%. PES is now KPIT’s largest unit, representing 36.3% of revenues. The