July 24, 2024

BSE Limited National Stock Exchange of India Ltd.,

Phiroze Jeejeebhoy Towers, Exchange Plaza, C/1, G Block,
Dalal Street, Bandra - Kurla Complex, Bandra (E),
Mumbai - 400001. Mumbai – 400051.

Scrip ID: KPITTECH Symbol: KPITTECH

Scrip Code: 542651 Series: EQ

Kind Attn: The Manager, Kind Attn: The Manager,

Department of Corporate Services Listing Department

Dear Sir / Madam,

Subject:- Investor Update – Q1 FY 2025.

Please find enclosed the investor Update – Q1 FY 2025.

Kindly take the same on your records.

Thanking you.

Yours faithfully,

For KPIT Technologies Limited

Digitally signed by
DESHPANDE DESHPANDE
YUNUS
NIDA

NIDA YUNUS Date: 2024.07.24

13:35:49 +05'30'

Nida Deshpande
Company Secretary & Compliance Officer

Encl.: - as above

KPIT Technologies Limited O +91 20 6770 6000

E Maan,
Registered & Corporate Office: Plot No. 17, Rajiv Gandhi Infotech Park, MIDC-SEZ, Phase-III, [email protected]
Taluka-Mulshi,
Hinjawadi, Pune-411057, India. W kpit.com
CIN: L74999PN2018PLC174192
 Reimagining Mobility with YOU

July 24, 2024

Investor Update
Q1FY25

KPIT Technologies Ltd.

 Forward Looking Statements
Some of the statements in this update that are not historical facts, are forward-looking
statements. These forward-looking statements include our financial and growth
projections, as well as statements concerning our plans, strategies, intentions and beliefs
concerning our business and the markets in which we operate. These statements are
based on information currently available to us, and we assume no obligation to update
these statements as circumstances change. There are risks and uncertainties that could
cause actual events to differ materially from these forward-looking statements. These
risks include, but are not limited to, the level of market demand for our services, the
competitive market for the type of services and solutions that we offer, market conditions
that could cause our clients to reduce their spending for our services, our ability to create,
acquire and build new businesses and to grow our existing businesses, our ability to
attract and retain qualified personnel, currency fluctuations and market conditions in
India and elsewhere around the world, and other risks not specifically mentioned herein
but those that are common to industry. In certain cases, the numbers reported in this
update might be rounded off to the nearest whole number.

7/24/2024 2
Performance
Overview
Q1FY25

Reimagining Mobility with YOU

 Performance Overview
11 M
Revenue
Reported $ Revenue growth of 23.1% Y-o-Y
Growth led by Middleware, Powertrain and Asia

Q1FY25 CC
Q1FY25 Net Profit at ₹ 2,042 M
Revenue grows 2 Net Profit 52.4% (incl one-time gain) growth in profit Y-o-Y
24.8% Y-o-Y

Q1FY25 Profit
Q1FY25 EBITDA at 21.1%
(PAT) grows 3 EBITDA Y-o-Y EBITDA growth of 31.0%
42.2%* Y-o-Y

Wins and $ 202M worth engagements closed in the quarter

4 Pipeline Healthy Pipeline level across practices

*Excluding one-time gain in Q1FY25 7/24/2024 4

Performance Highlights
Net Profit Working (₹ million) Q1FY25 Q1FY24 Q4FY24 Growth (Y-o-Y) Growth (Q-o-Q)
Reported Profit 2,042 1,340 1,643 52.4% 24.3%
One-time Income 396 134 - - -
Tax on above item 69 - - - -
Profit excluding one-time impact 1,715 1,206 1,643 42.2% 4.4%

Q-o-Q CC growth of 4.7% and reported $ growth of 3.7%.

01 Growth led by passenger cars.

02 EBITDA margins improved to 21.1% post two months of

ESOP cost and quarterly promotions, mainly due to fixed
cost leverage. Sequential EBITDA growth of 5.6%

03 Other income was lower as compared to last quarter

due to conversion losses Yen denominated assets. ETR
was in-line with our annual outlook.
Net Cash Balance at the end of the quarter stood at ₹ 10.01
04 billion, depicting a net cash addition of ₹ 1.50 billion. DSO at
the end of the quarter stood at 46 Days.

7/24/2024 5
 Additional facts - timeseries
Revenue $ Million Consistent Performance
159 165
145 149
134
124
110
84 87 90
94 16 Consecutive Quarters
77 77 77 77 80
71 73 65 65 70
74 of Steady Revenue Growth

EBITDA ₹ Billion

2.7 2.9
2.4 2.6
2.2
1.9
1.4
1.7 16 Consecutive Quarters
1.2 1.2 1.3
0.9 1.0 1.0 of Steady EBITDA Growth
0.6 0.7 0.7 0.7 0.8 0.7 0.7 0.8

7/24/2024 6
Management Quotes
Kishor Patil, Co-founder, CEO and MD, KPIT said,” We have started the year on a
positive note with an all-round robust performance. While the mobility industry is
going through certain pressures on the demand and profitability fronts, we are
proactively investing in creating relevant large, differentiated offerings to support
our clients reduce their costs and time-to-market. We are also investing in
adjacencies and newer geographical markets. We expect creation of meaningful
growth opportunities via both these investments and continue with the growth
momentum, paving way for a fair demand visibility in the medium term.”

Sachin Tikekar, Co-founder and Joint MD, KPIT said,” Our attention remains on
making Software Defined Vehicles (SDV) a reality for our clients, so that they realize
its benefits. We are working on productivity and competency improvement aided by
AI, to improve our competitiveness and offer differentiated offerings to clients. The
attrition numbers continue to drop further, justifying our continual investments in
overall people development. Sustainability, in line with our Vision of ‘a cleaner, safer
and smarter world’ is one of the prime key result areas for us. We are anchoring our
goals on Science Based Targets (SBTs) towards carbon neutral footprint of our own.”

7/24/2024 7
Cash Flow – Major Movement
₹M
Decrease in Working
Capital – 606
NET CASH (₹ M) Q1FY25 Q4FY24
Gross Cash 10,460 8,959
Long Term Debt NIL NIL
PathPartner Payout – 721 Short Term Debt 447* 445*
Capex – 655
NET CASH 10,013 8,514

Cash and Cash Equivalents break-up ₹M

In Investment Accounts (in India) 1,454 DSO Q1FY25 end : 46 Days

In Investment Accounts (outside India) 4,443

In Operating Accounts 4,563
TOTAL 10,460 * Debt in the books of Technica

7/24/2024 8
New Engagements
Strong Wins - TCV of new engagements won during Q1FY25 : $ 202 million

A Leading European Car Manufacturer selected KPIT for a significant

engagement in the connected vehicle domain.

Strategic engagements in the autonomous, connected and powertrain domains

for a leading European Car Manufacturer.

Crucial engagements in the middleware and architecture domains with a

leading American Car Manufacturer.

Strategic engagements in the connected, middleware and architecture

domains with a leading Asian Car Manufacturer

Key Engagements in powertrain and connected domains for a leading American

Commercial Vehicle OEM.

7/24/2024 9
Qorix Update
KPIT and ZF have completed initial Qorix joins Eclipse Foundation Qorix turning a 50:50 venture from
Cash and IP contributions to Qorix SDV Group to shape Automotive a wholly owned KPIT company
post all regulatory approvals Software resulted in one-time gain in Q1FY25

Following completion of QORIX announced its • A gain of ₹ 197.22 million

all regulatory membership in the on transfer of IPs to
requirements, middleware Software Defined Vehicle Qorix under "Other
specialist QORIX GmbH is (SDV) Working Group at income" along with a
now an independent The Eclipse Foundation. related tax expense of ₹
company. The founding This step highlights 68.92 million under "tax
companies KPIT QORIX’s commitment to expense”.
Technologies Ltd. and ZF advancing software- • A gain of ₹ 199.07 million
Friedrichshafen AG are its defined vehicle under “Other income”
shareholders with 50:50 technologies amid resulting from
ownership. growing software derecognition of the
Qorix has also setup a complexity in the assets and liabilities of
India subsidiary named automotive industry. Qorix, due to conversion
Qorix India Pvt. Ltd. to JV from a subsidiary.

7/24/2024 10
Other Updates
Q1FY25

Reimagining Mobility with YOU

Launch of EcoVoyage 2030

KPIT embarked on a significant journey towards

sustainability with the launch of EcoVoyage 2030. This
strategic commitment underscores KPIT's Vision of
"Reimagining Mobility for a cleaner, smarter, and safer
world" by integrating sustainable practices into our
business operations, technology solutions, and client
partnerships. The program kicked off in June 2024,
with the celebration of Sustainability Month, wherein
all KPITians came together to contribute to various
sustainability initiatives.

7/24/2024 12
 KPIT leaders featured on popular media outlets

In an interview with Forbes India, Mr. Ravi Pandit A recent Automobil Elektronik cover story featured both Mr.
and Mr. Kishor Patil shared the inspiring story Kishor Patil, Co-founder, CEO & Managing Director of KPIT, and
behind KPIT's transformation. They reminisced on Dr. Gabriel Seiberth, President & Geography Head-Europe.
the company's 35-year journey, highlighting the Their insightful discussion explored the challenges and
pivotal decision to focus on automotive and opportunities presented by the software-driven
mobility in 2018-19. The interview underscored the transformation within the automotive industry. They
unwavering conviction that fueled this strategic highlighted KPIT's unique expertise in software integration,
shift and the incredible dedication of KPITians over which empowers automakers globally, particularly in Europe,
the past three decades. to navigate the road to SDVs efficiently.

7/24/2024 13
 Recognitions

KPIT received a well-deserved nomination for the

prestigious Global Diversity, Equity, and Inclusion KPIT achieved a significant accomplishment by
(DEI) Champion of the Year award from the securing a coveted spot in Automobilwoche's
WardsAuto AutoTech Awards. This recognition is a ranking of the top 25 engineering service
significant acknowledgement of KPIT's unwavering providers.
commitment to fostering a culture of inclusion This recognition underscores KPIT's unwavering
within the workplace and driving positive change commitment to excellence within the ever-
across the industry, through initiatives like KPIT changing automotive and mobility landscape.
Women in Mobility.

7/24/2024 14
Financial &
Operational Data
Snapshot

Reimagining Mobility with YOU

Profit & Loss Account Snapshot INR MN
DETAILS Q1FY25 Q4FY24 Q1FY24
Revenue from Operations 13,646.30 13,178.00 10,976.22
Other Income 543.07 158.95 78.16
Gain on account of Business Combinations - - 134.13
Total Income 14,189.37 13,336.95 11,188.51
Operating Expenses 10,764.70 10,449.26 8,837.42
EBITDA 2,881.60 2,728.74 2,200.12
Depreciation 525.14 526.97 450.44
EBIT 2,356.46 2,201.77 1,749.68
Finance Costs 127.31 117.94 137.10
Change in FMV of Investments 1.37 7.39 2.79
Profit Before Exceptional Items 2,773.59 2,250.17 1,766.34
Profit/(loss) from equity accounted investee (6.62) (5.37) -
PBT 2,766.97 2,244.80 1,766.34
Tax 725.37 585.62 421.95
PAT 2,041.60 1,659.18 1,344.39
Profit Attributable to owners of Company 2,041.60 1,643.49 1,339.98
Profit Attributable to non-controlling interest - 15.69 4.41

7/24/2024 16
Balance Sheet Snapshot INR MN

ASSETS Q1FY25 Q4FY24 EQUITY & LIABILITIES Q1FY25 Q4FY24

NON-CURRENT ASSETS Equity Share Capital 2,713.54 2,712.17

Other Equity 21,008.53 18,746.41
Property, Plant & Equipment 2,354.23 2,395.27
Equity attributable to owners 23,722.07 21,458.58
Right-of-use Assets 3,173.80 3,033.45 Non-controlling interests - 171.09
Other Tangible Assets 3.48 5.16 TOTAL EQUITY 23,722.07 21,629.67
Goodwill & Other Intangibles 13,659.10 14,300.35 NON-CURRENT LIABILITIES
Borrowings NIL NIL
Other Non-Current Assets 2,815.08 1,373.37
Lease Liabilities 2,305.87 2,167.48
TOTAL NON-CURRENT 22,005.69 21,107.60 Other Non-Current Liabilities 1,187.73 2,755.92
CURRENT ASSETS TOTAL NON-CURRENT 3,493.60 4,923.40
Inventories 973.29 902.49 CURRENT LIABILITIES
Borrowings 446.94 445.10
Cash and Cash Equivalents 10,460.05 8,958.73
Trade Payables 3,066.13 2,397.69
Trade Receivables 6,753.69 7,489.47
Lease Liabilities 683.67 672.68
Other Current Assets 3,908.58 3,220.67
Other Current Liabilities 12,688.89 11,610.42
TOTAL CURRENT 22,095.61 20,571.36
TOTAL CURRENT 16,885.63 15,125.89
TOTAL ASSETS 44,101.30 41,678.96 TOTAL EQUITY AND LIABILITIES 44,101.30 41,678.96

7/24/2024 17
Revenue Break-up USD MN

Verticals* Q1FY25 Q4FY24 Q1FY24 Q-o-Q Y-o-Y

Passenger Cars 132.02 125.55 100.53 5.2% 31.3%
Commercial Vehicles 27.86 27.76 28.78 0.4% (3.2)%
* The balance revenues comefromothers,whichis not a big area as of now

Business Units# Q1FY25 Q4FY24 Q1FY24 Q-o-Q Y-o-Y

Feature Development & Integration 100.59 98.64 82.14 2.0% 22.5%
Architecture & Middleware Consulting 33.78 29.70 28.03 13.7% 20.5%
Cloud Based Connected Services 30.50 30.68 23.77 (0.6)% 28.3%
#FeatureDevelopment& Integration- Electrification, AD-ADAS, Body Electronicsand VED
Architecture & Middleware Consulting – Middleware,AUTOSAR
CloudBasedConnectedServices – IntelligentCockpit, Digital Connected Solutions and Diagnostics

Geography Q1FY25 Q4FY24 Q1FY24 Q-o-Q Y-o-Y

US 46.47 47.24 44.91 (1.6)% 3.5%
Europe 84.97 82.25 68.08 3.3% 24.8%
Asia 33.42 29.53 20.96 13.2% 59.4%

7/24/2024 18
P&L Metrics
Q1FY25 Q4FY24 Q1FY24 Q-o-Q Y-o-Y
Revenue by Contract Type
Time & Material Basis 46.5% 49.2% 55.0% (2.0)% 4.1%
Fixed Price Basis 53.5% 50.8% 45.0% 9.2% 46.3%
Clients
Strategic Client Revenue 86.5% 86.4% 82.6% 3.8% 28.9%
Active Clients (Period End) 60 60 60
Revenue per Devp. Employee USD 53,018 52,725 49,439
R&D Expenditure (USD MN) 3.29 3.70 3.01
EBITDA Margin 21.1% 20.7% 20.0%
EBIT Margin 17.3% 16.7% 15.9%
PAT Margin 15.0% 12.5% 12.2%
Effective Tax Rate 26.2% 26.1% 23.9%
EPS (Basic) 7.53 6.06 4.95
EPS (Diluted) 7.47 6.02 4.91

7/24/2024 19
Currency wise revenues, Hedging Details

O/s Hedge Details Q1FY25

Currency wise Hedge Rates
Q1FY25 Q4FY24 Q1FY24
revenue
USD/INR 84.26
USD 28.7% 30.7% 34.0%
EUR/INR 92.51
EUR 45.5% 45.6% 44.5%
GBP/INR 106.16
GBP 5.2% 5.7% 6.0% JPY/INR 0.57
JPY 15.7% 12.4% 10.5% Hedge Amounts(Mn)

INR 3.0% 3.5% 3.5% USD/INR 65.90

EUR/INR 34.10
Others 1.8% 2.0% 1.5%
GBP/INR 9.76
JPY/INR 4,220

7/24/2024 20
Headcount Data
Period End Headcount Q1FY25 Q4FY24 Q1FY24 Q-o-Q Y-o-Y
Development 12,438 12,064 10,837 - -
Enabling & Sales 815 792 734 - -
Total 13,253 12,856 11,571 - -

7/24/2024 21
Contact Us

Reimagining Mobility with YOU

Conference Call Details
Conference name : KPIT Technologies Q1 FY2025 Post Earnings Conference Call
Date : Wednesday July 24, 2024
Time : 1730 Hrs.
Participants : Mr. Kishor Patil, Co-founder, CEO & MD
Mr. Sachin Tikekar, President, Joint MD
Mr. Anup Sable, CTO
Mrs. Priya Hardikar, CFO
Mr. Chinmay Pandit, Whole-time Director & Head Americas
Mr. Sunil Phansalkar, VP CF&G , Head-IR

Dial-in Numbers for all participants

Primary number : +91 22 6280 1116
Local Access : +91 22 7115 8017
: USA - 1 866 746 2133 | UK - 0 808 101 1573
Click here for your Diamond Pass International Numbers
Singapore - 800 101 2045
Hongkong - 800 964 448
About KPIT Technologies
KPIT (BSE: 542651; NSE: KPITTECH), KPIT is a global technology company with software solutions that will help
mobility leapfrog towards autonomous, clean, smart and connected future. With 13,000+ Automobelievers across the
globe, specializing in embedded software, AI & Digital solutions, KPIT enables clients accelerate
implementation of next generation mobility technologies. With development centers in Europe, USA, Japan, China,
Thailand and India – KPIT works with leaders in mobility and is present where the ecosystem is transforming.

For more information, visit http://www.kpit.com 7/24/2024 23

Contact
For Investor Queries

Email
[email protected]

Desk Phone
+ 91 20 6770 6997

Cell
+ 91 98509 66011

Website
www.kpit.com
Sunil Phansalkar

24
Contact
For Media Queries

Email
[email protected]

Desk Phone
+ 91 80 6606 6000 (7865)

Cell
+ 91 99001 50180

Website
www.kpit.com
Sunil B R

25
THANK YOU !!

KPIT Technologies Ltd.