KPIT – CASE (connected, autonomous, shared, electric) – Focused Automotive Play

1. CC Revenue Growth of 23% Y-o-Y, 6.0% Q-o-Q. $ Revenue Growth of 16.4% Y-o-Y and 3.2% Q-o-Q ( CC Revenue Growth : 18% to 21% )
2. Q1FY23 EBITDA at 19.4% against 18.6% last qtr. Y-o-Y EBITDA growth of 35.7%, 9.7% Q-o-Q ( EBITDA Margin : 18% to 19%)
3. Net Profit at ₹ 854 million. Net Profit growth of 41%+ Y-o-Y, 8.3% Q-o-Q
4. New wins continue to be stronge.r TCV of $ 155 million won during the quarter
5. Sequential CC growth of 6% led by Electric Powertrain and architecture and middleware domains. Growth steered by passenger car vertical. Higher cross currency impact due to Euro, GBP and Yen depreciation against the INR.
6. EBITDA expansion of 80 bps despite supply side constraints, fresher additions and cross-currency headwinds. Operating efficiency, net realization improvement and revenue growth leading to consistent improvement in margins
7. Healthy growth in net profit aided by improvement in operating margins and higher other income. ETR for the quarter higher as compared to last quarter, as a result of one-time benefit last quarter.
8. High cash conversion continued post acquisition payout, with DSO at 46 days. Net Cash at quarter end ₹ 10.6 billion. 14th consecutive quarter of increase in net cash and healthy cash conversion
9. Net Cash Available (INR Million) 10,627

New Engagements ( TCV of new engagements won during the Quarter : $ 155 million)

• A leading European Car Manufacturer selected KPIT for a multiyear engagement in the electric powertrain domain
• A leading Asian Car Manufacturer awarded KPIT multiple programs in the connected and middleware domains
• A leading American Commercial Vehicle Manufacturer selected KPIT for a A leading European Car Manufacturer selected KPIT for a strategic program in the middleware domain multiyear engagement in the Vehicle Engineering and Design domain
• A leading American Tier I awarded KPIT multiple programs in the powertrain domain

KPIT expands its team and global infra-structure footprint

• KPIT expands its team and global infra-structure footprint
• KPIT unveiled its brand-new office in Novi, Michigan, USA
• KPIT expands its local tech center in China – KPIT has taken the initiative to add 20 AUTOSAR engineers in Phase 1 to build a Local Tech Center in China. This workforce will consist of 10 senior engineers and ten fresh graduates / Interns. The team has already onboarded seven senior
  engineers and five interns.
• KPIT to create opportunities in cutting edge automotive software in Kochi

The vehicle manufacturers are aiming to earn revenues over the life of the vehicle for sustainable growth. This change will be enabled by CASE and centralized architecture programs, essentially Software Driven Vehicles. KPIT is uniquely positioned as a software integrator, helping global OEMs accelerate this journey. We have started the year on a positive note with an all-round performance, with growth in-line with our plan and healthy margin expansion, despite cross-currency headwinds. We remain optimistic on the overall growth environment