AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 21 Sep - KPIT Technologies met investors at Anand Rathi Flagship Conference India 2026 on September 21, 2026.
Source: Bse
KPIT Technologies Limited (KPITTECH)
Mid CapIT stocks · Mid cap · NSE
KPIT Technologies is a global technology company providing software solutions for the mobility industry, focusing on autonomous, clean, smart, and connected future. With over 12,000 'Automobelievers', KPIT specializes in embedded software, AI, and digital solutions to accelerate next-generation mobility technologies for clients.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result29 Jul, 06:52 pm IST
Score20 Oct, 05:15 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · IT P/E 21.4 (n=204)
Technical timing lens
Trend score and candlestick chart
64BullishSMA20 -11.0% / mo · MACD + · near 52W low · sector +14.5pp vs Nifty 500 (3M)
Stock trend: 40
Sector RS: 100
Sector 3M: +8.9% vs Nifty 500 -5.6%
IT FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
KPITTECHD candles · FIT view-24.3%Latest close ₹536.95 on 2026-10-19
Bar
-3.6%
RSI
54
MACD hist
8.83
52W pos
8%
2026-10-19O ₹557.00H ₹558.70L ₹534.50C ₹536.95Vol 15.7L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
KPITTECHNifty ITNifty 500
- KPITTECH
- -4.3%
- Nifty 500
- -5.6%
- Nifty IT
- +8.1%
- Vs Nifty 500
- +1.3 pp
Chart stats
19 Oct 2026- From 52W high
- -58.2%
- 52W range position
- 8%
- ATR (14)
- 3.5%
- Volume vs 20D
- 0.67x
- Avg traded value
- ₹115 Cr
- 20D price channel
- ₹470.1 - ₹558.7
₹1,284.9
₹470.1 - ₹1,284.9
₹18.8
Latest completed session
20-session average
42.4% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management trust is acceptable, price trend is neutral, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · FAIR VALUE56
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue +8.8% · PAT -32.6% YoY
Technical
Bullish64
Price trend and sector-relative-strength timing.
Valuation
Legacy model+21.3%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Mixed Trust63
high confidence · 12/16 claims checked
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100PAT -33% YoY · margin compression · Rev +9% YoY
Filed 29 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,675 Cr | +8.8% | -2.1% |
| EBITDA | ₹257 Cr | -12.9% | -18.9% |
| Operating margin | 15.0% | -400 bps | -300 bps |
| PAT | ₹116 Cr | -32.6% | -28.8% |
| PAT margin | 6.9% | -425 bps | -260 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 23.60
- P/B
- 4.16
- EV/EBITDA
- 10.35
- Market Cap
- 14720.00Cr
Profitability
- ROE
- 20.90%
- ROCE
- 26.30%
- ROA
- 8.17%
- Dividend Y
- 1.56%
Growth (CAGR)
- Revenue 5Y
- 26.00%
- EPS 5Y
- 37.00%
- Revenue 3Y
- 24.00%
- EPS 3Y
- 21.00%
Balance Sheet
- Debt/Equity
- 0.24
- Interest Coverage
- 13.92×
- Altman Z
- 4.76
- Book Value
- 129.00
Cash Flow
- FCF Yield
- 0.05%
- FCF Positive Y
- 8/5
- OCF
- 1195.00 Cr
- EPS TTM
- 21.25
Shareholding
- Promoter Hold
- 38.59%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 8%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 6,591+2.1% vs prev
Net Profit
₹ CrLatest: 637-24.2% vs prev
Return on Equity
%Latest: 18.0-37.6% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 54. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~12.4% over last month) — short-term momentum negative.
- RSI(14) at 54 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- 58% off 52W high · 14% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
2
RS percentile
Stage 4 Downtrend
1M return
+0.9%
3M return
-4.3%
6M return
-27.0%
1Y return
-54.9%
RS 1D
0
RS 20D
+1
Sector rank
#2
Industry rank
#5
Stage evidence
- Price is 16.7% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -4.2%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 45.62-2.25%
RS vs Nifty 50046
Valuation & peers
U-Score 56 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 56 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · FAIR VALUEValuation5/30
Growth21/25
Quality11/20
Balance Sheet9/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
1
Raw sum
56
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
56/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 21.3%.
- Growth contributes 21/25 to the score.
Main drags
- Valuation is weaker at 5/30; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
- Quality is weaker at 11/20; verify the latest quarterly trend.
Sector valuation model
IT valuation: PE and EV/EBITDA against growth and margins
Asset-light IT companies deserve valuation support only when growth, margins, and cash conversion hold up.
Primary lens
PE and EV/EBITDA relative to revenue growth, margins, and cash conversion.
Secondary checks
Deal pipeline, attrition, dollar revenue growth, FCF yield.
Main risk check
Low PE can reflect weak growth or margin pressure.
PE
23.6
PB
4.2
EV/EBITDA
10.3
ROE
20.9%
ROCE
26.3%
FCF Yield
0.1%
Debt/Equity
0.2
MoS
+21.3%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
56
Previous: 56
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+21.3%
Previous: +21.3%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
59
59
59
59
56
56
56
56
56
56
56
56
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹248.35
-116.2% MoS
Growth-justified P/E
32.1
Growth-justified Value
₹682.13
+21.3% MoS
PEG
0.77
Comparable companies
Peers
Business-comparable peers in IT — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
SHADOWFAX
Small
Shadowfax Technologies Limited
IT Services / Digital
match 159
35
100.0
10.4%
-147%
WATCHLIST
ZENSARTECH
Small
Zensar Technologies Limited
IT Services / Digital
match 159
71
14.5
17.3%
+52%
UNDERVALUED
SIGMAADV
Small
SIGMA ADVANCED SYSTEMS LIMITED
IT Services / Digital
match 156
41
129.0
-4.0%
-218%
WATCHLIST
NEWGEN
Large
Newgen Software Technologies Limited
IT Services / Digital
match 156
63
19.8
19.6%
+31%
UNDERVALUED
SONATSOFTW
Large
Sonata Software Limited
IT Services / Digital
match 156
66
13.8
28.2%
+54%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-06-14T08:23:40.724Z
Management commentary snapshot
KPIT reports Q4FY26 revenue growth of 12.0% YoY (5.8% QoQ) and EBITDA growth of 9.4% YoY (6.0% QoQ), with margins maintained. PAT declined 33.4% YoY but grew 22.2% QoQ. Healthy deal wins of $349M closed.
KPIT delivered decent Q4FY26 revenue and EBITDA growth, with margins maintained. Healthy deal wins and a strong pipeline, particularly in Products & Solutions, support future growth. However, a significant YoY PAT decline and declining headcount warrant scrutiny, especially as the company plans increased investments and two large SDV programs conclude in H1 FY27.
Current business mix
Q4FY26 Revenue by Business Unit
Latest issuer-disclosed distribution across 3 reported categories.
Feature Development & Integration58.0%
Cloud Based Connected Services24.6%
Architecture & Middleware Consulting17.4%
Growth engines
Off-Highway and Connected Domains
Q4FY26 growth was led by Off-Highway and Connected segments. Commercial (On & Off-Highway) is expected to show solid growth in FY27.
Products and Solutions
Products and Solutions contribute ~21% to the total pipeline, with growth acceleration expected in H2 FY27.
AI-defined Machines
KPIT is guiding OEMs in trucks and off-highway sectors on their journey towards AI-defined machines.
Key Market Expansion
A nuanced strategy is crafted to expand business presence in key markets such as India, China, and Southeast Asia.
Tailwinds
Improved Mobility Industry Outlook
Management states the situation has improved, with enough growth headroom available in automotive software as FY27 begins.
AI in Automotive Engineering
AI is now core to Automotive Engineering and favors domain-focused players, which aligns with KPIT's strategy.
OEM Pressure for Faster Time-to-Market
OEMs are under immense pressure to swiftly introduce new products and features, which KPIT's products and AI-infused solutions aim to address.
KPIT Mobility Intelligence Product (Beacon)
KPIT's Beacon product is in 'pole position', corroborated by enhanced interest from major OEMs.
Headwinds
Forex Loss
Q4FY26 results include a forex loss of ₹ 312M, up from ₹ 182M in Q3FY26, due to rupee depreciation of ~5% across major currencies.
Wage Bill Impact
There was a wage bill impact of 15 bps on an ongoing basis in Q4FY26.
Conclusion of Large SDV Programs
Two of the largest Software-Defined Vehicle (SDV) programs are coming to an end in H1 FY27.
Trade and Geopolitical Uncertainties
Management noted that trade and geopolitical uncertainties impacted the mobility industry last year, hindering investment in new platforms.
Risk radar
Currency Fluctuations
The company reported increased forex losses in Q4FY26 due to rupee depreciation, highlighting exposure to currency volatility.
Talent Attraction and Retention
The company's total headcount declined QoQ and YoY, indicating potential challenges in attracting and retaining qualified personnel.
Client Spending Reduction
Forward-looking statements acknowledge market conditions that could cause clients to reduce spending for services.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Both YoY and QoQ comparisons are crucial for IT services. YoY provides a clearer picture of underlying growth trends by smoothing out seasonality, while QoQ highlights sequential momentum, project execution, and immediate business shifts.
Sector KPIs management disclosed
Revenue (INR Mn)
Q4FY26 Revenue from Operations stood at 17,110.00 Mn, a YoY growth of 12.0% and QoQ growth of 5.8%.
Revenue (USD Mn)
Q4FY26 Revenue was $185M, a YoY growth of 4.3% and QoQ growth of 1.9%. FY26 revenue was $724.8M, growing 4.8% YoY ($) and 1.3% YoY (CC).
EBITDA Margin
Q4FY26 EBITDA margin was maintained at 20.6%. FY26 EBITDA margin was 20.8%.
PAT (INR Mn)
Q4FY26 PAT was 1,629.74 Mn, a QoQ growth of 22.2% (6.3% w/o one-time gain) but a YoY decline of 33.4%.
Management forward view
Optimistic FY27 Outlook
Management states FY27 looks more promising than FY26 in terms of revenue growth visibility and market opportunity.
Strategic Acquisition for Cybersecurity
KPIT will acquire a strategic stake in Cymotive to strengthen AI-led automotive cybersecurity capabilities, with full ownership expected by mid-2029.
FY27 EBITDA Margin Target
Management targets an EBITDA margin of 20.5-21.2% for FY27, post increased investments in AI, Products & Solutions, Competency Development, and New Markets.
Focus on Products and AI-infused Solutions
The company is actively deploying its products and AI-infused solutions to help OEMs reduce time to market and enhance market share.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Revenue Growth | Q4FY26 ₹ YoY +12.0%, QoQ +5.8%. FY26 $ YoY +4.8% (CC +1.3%). | FY27 revenue growth visibility, especially acceleration in H2 led by Products and Solutions, to compensate for ending SDV programs. |
| EBITDA Margin | Q4FY26: 20.6%. FY26: 20.8%. | Achievement of FY27 target of 20.5-21.2% amidst planned increased investments in AI, Products & Solutions, and new markets. |
| New Engagements & Pipeline | Q4FY26 TCV $349M. Pipeline satisfactory, ~21% from Products & Solutions. | Continued healthy deal wins and conversion of pipeline, particularly the contribution from Products & Solutions. |
| Headcount & Talent Management | Total headcount declined 1.6% QoQ and 2.7% YoY to 12,520. | Stabilization or growth in development headcount to support future growth and execution of new engagements. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Show extracted source claims
margin outlookfailed
Q4FY26 will also have wage hikes.
Timeframe: Q4FY26Direction: decreaseConfidence: high
"Q4FY26 will also have hikes"
Outcome check: OPM moved from 19.0% to average 16.5% (-2.5 pp).
margin outlooknot yet verifiable
Q4FY26 will also have wage hikes.
Timeframe: Q4FY26Direction: decreaseConfidence: high
"Q4FY26 will also have hikes"
market share expansionnot yet verifiable
KPIT will focus on China and India markets for expansion.
Timeframe: implicit futureDirection: expansionConfidence: high
"Focus on China and India markets."
market share expansionnot yet verifiable
KPIT will focus on China and India markets for expansion.
Timeframe: implicit futureDirection: expansionConfidence: high
"Focus on China and India markets."
revenue outlooknot yet verifiable
KPIT is positioned to fortify its leadership and enable steady high-quality growth in medium term.
Timeframe: medium termDirection: increaseConfidence: high
"enable steady high-quality growth in medium term"
revenue outlookcontradicted
KPIT is positioned to fortify its leadership and enable steady high-quality growth in medium term.
Timeframe: medium termDirection: increaseConfidence: high
"enable steady high-quality growth in medium term"
Outcome check: Revenue YoY averaged 10.4% across 2 later quarter(s).
revenue outlooknot yet verifiable
New vehicle programs in existing partnerships, addition of new logos, expanding into new geographic markets, mobility adjacencies like off-highway, solutions on cost reduction and cybersecurity will propel medium-term growth.
Timeframe: medium termDirection: increaseConfidence: high
"will propel medium-term growth"
revenue outlookdelivered
New vehicle programs in existing partnerships, addition of new logos, expanding into new geographic markets, mobility adjacencies like off-highway, solutions on cost reduction and cybersecurity will propel medium-term growth.
Timeframe: medium termDirection: increaseConfidence: high
"will propel medium-term growth"
Outcome check: Revenue YoY averaged 10.4% across 2 later quarter(s).
Trust Score
63Mixed Trust · high confidenceClaim-tested Trust
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Mixed Trust: Management has 58% delivered/partly-delivered outcomes on 12 checked claims, with 5 adverse claim outcomes. It ranks around the 38th percentile of the scored universe and 36th percentile within IT. Main check: results consistency is weak at 39/100.
Healthy Trust: 12/16 extracted management claims have outcome checks; 58% were fully delivered and 0 were partially delivered. 5 claim(s) were contradicted or failed. Key concern: 5/12 matched management claims were contradicted or failed.
Computed 20 Oct 2026
management-trust-v1
31 extracted concalls · 12/16 claims matched
Score band
Mixed Trust
Usable, but needs evidence. Treat guidance with a margin of safety.
Relative rank
38th percentile
overall median 67 · IT: 36th pctile, median 69 · Mid: 21st pctile, median 76
Evidence depth
Medium sample
12/16 claims have outcome checks.
Claim delivery
58% delivered or partly delivered
12/16 claims checked · 5 contradicted/failed claims
How to read this Trust Score
Mixed Trust · high confidenceWhat it measures
Reliability of management and financial delivery, using management claims matched with later outcomes.
Confidence
Enough evidence exists to treat this as a stronger reliability read.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
80
strong · capital discipline
Results
39
weak · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.1%.
- ▸8 years of positive FCF.
- ▸ROCE is 26.3%.
Trust risks
- ▸3 latest quarters had PAT decline worse than 25% YoY.
- ▸5/12 matched management claims were contradicted or failed.
- ▸ROCE trend is -8.4%.
- ▸0/4 latest quarters had positive YoY PAT growth.
Continue researching KPIT Technologies Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 11 Sep - Intimation of the investor / analyst conference scheduled on Tuesday September 22, 2026
Source: Bse
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 11 Sep - Intimation of the investor / analyst conference scheduled on Monday September 21, 2026
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 22 Sep - KPIT Technologies met investors at JP Morgan India Conference 2026 on September 22, reiterating earnings-call information.
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 13 Aug - KPIT Technologies held investor meetings at Equirus Annual India Conference on August 13, 2026; reiterated Q1 earnings-call updates.
Source: Bse
Annual reportAug 2026
Aug 2026 · Letter To Members For Weblink Of Annual Report For FY 2025-26 7 Aug - 9th AGM on August 31, 2026; FY2025-26 annual report web link shared.
Source: Bse
AnnouncementAug 2026
Aug 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 10 Aug - KPIT Technologies held investor meetings at Nirmal Bang conference on August 10, 2026; no UPSI shared.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 12 Aug - KPIT Technologies met investors at Emkay Confluence 2026 on August 12, reiterating July 29 earnings call information.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 6 Aug - Details regarding 9th Annual General Meeting, cut-off date, e-voting information.
Source: Bse
AnnouncementJul 2026
Jul 2026 · Announcement Under Regulation 30 Of SEBI LODR - Update On Voluntary Liquidation & Dissolution Of Somit Solutions Inc., Wholly Owned Step-Down Subsidiary Of KPIT Technologies (UK) Limited, Wholly Owned Subsidiary Of The Company. 14 Jul - Somit Solutions Inc. received tax clearance; dissolution completed July 13, 2026, with no operational impact.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.