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KPIT reiterates revenue outlook and increases EBITDA outlook to 21%+ for FY25
KPIT Q3FY2025 Performance Overview
18.1%
Reported $ Revenue growth
Y-o-Y
Revenue
Revenue growth 17.4% in CC and 18.1% in $, Y-o-Y Growth led by Powertrain and Connected
₹ 1,870 M
Q3FY25
Net Profit
Net Profit
Q3FY25 Net Profit at ₹ 1,870 M, 20.4% Y-o-Y growth, YTDQ3FY25 PAT growth 38%
20.8%
EBITDA growth of
Y-o-Y
EBITDA
Q3FY25 EBITDA at 21.1% Y-o-Y EBITDA growth of 20.8%
$ 236M
worth engagements closed in the quarter
Wins and Pipeline
$ 236M worth engagements closed in the quarter, Interim Dividend of ₹ 2.50 per share
Performance Highlights
Growth in Tech Domains
Q-o-Q CC growth of 2.0% and reported $ growth of 1.7%. Growth led by Asia and Passenger Cars.
EBITDA Growth and Margins
EBITDA margins stood at 21.1% as compared to 20.8% last quarter, mainly due to productivity improvement, revenue mix and fixed cost leverage.
Foreign Currency Impact
The INR appreciated against Euro and Yen (~ 60% of revenue) and depreciated against USD (~27% of revenue) resulting in lower INR revenues.
Quarterly Cash Update
Net Cash Balance at the end of the quarter stood at ₹ 14.2 billion, depicting high cash conversion during the quarter. DSO at the end of the quarter stood at 42 Days.
Management Quotes
The third quarter revenues are in-line with our annual revenue outlook while the operating profit has improved due to revenue mix change and productivity improvement, despite currency headwinds. Thus, we increase our annual EBITDA Margin outlook to 21%+ from 20.5%+ earlier. We are investing in AI technologies fine-tuned with automotive-specific data. Our AI philosophy is rooted in developing human-centric, innovative, safe, and responsible AI solutions that drive value creation for our clients. We will leverage these AI investments to augment our talent pool, while creating new opportunities for future growth. Our leadership and strength of relationship with our T25 clients is demonstrated by higher deal closures, efficient cash conversion and robust build-up in the pipeline.
Kishor Patil
Co-founder, CEO and MD, KPIT
We have been developing new sub-verticals viz Trucks and Off-highway. There are sizable opportunities through these investments, and they are now contributing to building our pipeline across the geographies. These will contribute to our growth from the second half of the next financial year. There are new relationships being explored and built with the Passenger Car and Truck makers in China and Rest of Europe outside Germany. In terms of our new offerings, there is greater interest from our T25 clients in the areas of vehicle cost reduction, cyber security and data-oriented services. Our attrition remains at all-time low levels and our leadership development programs are in full swing to further enhance our continued growth.
Sachin Tikekar
President and Joint MD, KPIT
New Engagements
Strong Wins - TCV of new engagements won during Q3FY25 : $ 236 million
A Leading European Car Manufacturer selected KPIT for a strategic engagement in the autonomous driving domain.
Strategic engagements in the electric powertrain and architecture domains for a leading European Car Manufacturer.
Crucial engagements in the vehicle diagnostics and mechatronics domains with a leading American Commercial Vehicle OEM.
Strategic engagements in the connected, autonomous and body electronics domains with a leading Asian Car OEM.
