KPIT Tech board to raise ₹2,800 Crore via QIP

23 Oct 2024 , 02:49 PM

KPIT Technologies Ltd., headquartered in Pune, has reiterated its revenue growth estimate and overall profitability outlook for fiscal year 2025.

The company’s board has approved funding up to ₹2,880 Crore through QIP or other permissible methods, according to a filing.

The company’s sales growth projection for FY25 is between 18 and 22%, with an EBITDA margin of 20.5%. However, its consolidated net profit remains steady at ₹204 Crore QoQ.

The company’s revenue increased 8% QoQ to ₹1,471 Crore from ₹1,365 Crore in the previous June quarter. EBITDA increased 4% to ₹301 Crore, with an operating profit margin of 20.5%.

The cash could be raised by the company in one or more tranches via QIP.

KPIT Technologies Limited, or KPIT, is a global corporation that offers engineering research and development (ER&D) services to the automotive and mobility sectors. KPIT is a prominent independent software development and integration partner that helps automakers expedite the adoption of next-generation technology. 

At around 2.18 PM, KPIT Tech was trading 2.36% lower at ₹1,650.05 per piece, against the previous close of ₹1,689.90 on NSE. The counter touched an intraday high and low of ₹1,743.15, and ₹1,645.05, respectively.

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