Loading…
Engineering software and services company specializing in automotive powertrain, autonomous driving and connected vehicle technology.
Engineering software and services company specializing in automotive powertrain, autonomous driving and connected vehicle technology.
Paid mostly by the hour of engineering work or by project, on programmes that run for years while a vehicle platform is designed, so revenue follows automakers' development spending rather than car sales. Much of the work is done by large teams in India for clients in Europe, the US and Japan.
In one line: A niche, automotive-focused engineering-software firm.
Moat: narrow (switching costs, process know-how). Deep embedded software in vehicle programs with automakers creates multi-year switching costs.
Headquarters: Pune, India · Founded: 1990 · Employees: 9,995
Size KPIT Technologies (KPITTECH.NS) is an India Information Technology company (Packaged Software) with a market value of $1.57B, the 448th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹540.45 on 6 Nov 2026.
Performance Over six months the shares fell 25.2%, against -1.8% for the median peer and 0.0% for the India market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 9.2% over the last twelve months (peer median +10.3%); the operating margin is 14.1% (peer median 8.4%).
Valuation It trades at 26.3× forward earnings against a peer median of 26.7× (10th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 15% a year for seven years (Req g). Recent delivered growth is +26%, so the hurdle is -11 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.7 points above its cost of capital (13.6% WACC).
Next results Next results expected around 2 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹66.9B | ₹64.5B | ₹58.4B | ₹48.7B | ₹33.7B |
| Revenue growth | — | +10% | +20% | +45% | — |
| Gross profit | ₹21.0B | ₹15.1B | ₹14.5B | ₹11.9B | ₹7.64B |
| EBITDA | ₹12.8B | ₹13.6B | ₹12.5B | ₹10.0B | ₹6.40B |
| Net income | ₹5.34B | ₹6.37B | ₹8.40B | ₹5.95B | ₹3.81B |
| Free cash flow | n/a | ₹10.2B | ₹12.5B | ₹8.32B | ₹3.44B |
| Capital expenditure | n/a | ₹1.43B | ₹1.30B | ₹1.55B | ₹1.29B |
| Total debt | ₹7.64B | ₹8.38B | ₹3.45B | ₹3.29B | ₹2.87B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| KPIT Technologies KPITTECH.NS | $1.57B | -25% | +9% | 14% | 26.3× | 14.8% |
| Tata Technologies TATATECH.NS | $2.86B | +6% | +22% | 13% | 34.9× | 28.3% |
| Cyient CYIENT.NS | $1.23B | +24% | +10% | 9% | 20.2× | 20.3% |
| L&T Technology Services LTTS.NS | $4.79B | +13% | +2% | 15% | 29.4× | 31.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | KPITTECH.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.6% | +4.0% | 5th highest of 21 |
| 6-month return | -25.2% | -1.8% | 4th lowest of 21 |
| Distance from 52-week high | -57.9% | -28.1% | 2nd lowest of 21 |
| Revenue growth (TTM) | +9.2% | +10.3% | 10th lowest of 21 |
| Operating margin | 14.1% | 8.4% | 5th highest of 21 |
| Forward P/E | 26.3× | 26.7× | 10th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 14.8% | 13.9% | 8th least demanding of 15 |
| Growth delivered (Del g) | +26.0% | +9.0% | 4th highest of 14 |
| Hurdle (Req g minus delivered) | -11.2 pp | -1.7 pp | 5th least demanding of 14 |
| ROIC minus cost of capital | +6.7 pp | +0.1 pp | 4th highest of 17 |
| EV / EBITDA | 11.5× | 13.7× | 6th cheapest of 11 |
| Net debt / EBITDA | -0.2× | -1.8× | 4th most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| KPIT Technologies KPITTECH.NS | India | $1.57B | -25% | +9% | 14% | 26.3× | 14.8% | +26.0% |
| MIXI 2121.T | Japan | $1.56B | +51% | +30% | 14% | 10.7× | -18.1% | +7.5% |
| Weaver Network Technology 603039.SS | China | $1.59B | -8% | +2% | 12% | 29.1× | 15.8% | +9.0% |
| Sprinklr CXM | United States | $1.55B | +25% | +6% | 6% | 13.0× | 4.8% | +17.2% |
| YOOZOO Interactive 002174.SZ | China | $1.61B | +9% | -1% | -20% | 24.7× | n/a | n/a |
| Paradox Interactive PDX.ST | Sweden | $1.54B | +6% | +13% | 6% | 25.3× | 20.8% | +4.1% |
| CloudWalk Technology 688327.SS | China | $1.54B | -28% | -47% | -165% | n/a | n/a | n/a |
| Digiwin 300378.SZ | China | $1.54B | -2% | +10% | 9% | 32.5× | n/a | n/a |
| Yusys Technologies 300674.SZ | China | $1.53B | -23% | -11% | 8% | 20.8× | 15.6% | +4.0% |
| Nazara Technologies NAZARA.NS | India | $1.62B | +50% | -2% | 3% | 138.0× | n/a | n/a |
| Newborn Town 9911.HK | Hong Kong | $1.63B | -5% | +36% | 12% | 8.8× | -3.5% | +41.3% |
| Donnelley Financial Solutions DFIN | United States | $1.63B | +56% | +5% | 20% | 12.3× | -4.7% | -3.0% |
| YGsoft 002063.SZ | China | $1.51B | -16% | +5% | 13% | 31.0× | 16.3% | +8.9% |
| BlackLine BL | United States | $1.50B | -15% | +9% | 7% | 10.0× | 12.1% | +14.8% |
| Wuxi Boton Technology 300031.SZ | China | $1.50B | +8% | +22% | 2% | 32.5× | 30.2% | +5.6% |
| Wealthfront WLTH | United States | $1.66B | -7% | +18% | -41% | 26.7× | -4.2% | n/a |
| Fractal Analytics FRACTAL.NS | India | $1.49B | -27% | +19% | 12% | 41.5× | 31.4% | +18.5% |
| Sansan 4443.T | Japan | $1.67B | +65% | +22% | 18% | 27.4× | 20.3% | +27.1% |
| Phancy 6682.HK | Hong Kong | $1.48B | -45% | +42% | -5% | 88.0× | n/a | n/a |
| Kfin Technologies KFINTECH.NS | India | $1.67B | -1% | +27% | 32% | 40.6× | n/a | n/a |
| Pagaya Technologies PGY | United States | $1.47B | +15% | +11% | 22% | 7.8× | 4.1% | +68.9% |