If we look clearly on the image, it is written SENTIENT Labs on the bus, not KPIT. But in the news it is mentioned as KPIT. As far as I know, KPIT is not into hydrogen bus business. It is done by Sentient labs which is another company in which Ravi Pandit is also a director. Not sure what are the financial advantages for KPIT. It is not clear. They are mixing Sentient Labs and KPIT name in various places. so it is getting difficult.
Annual report for last 2 years show some related party transactions between KPIT and Sentient Labs. I sent the below mail to investor relations to get this clarified. But they didnt respond to it.
Dear Sir/Madam,
I had asked a question during the AGM via writing. But it was not answered during the meeting. So I am asking the same question again via mail. It would be great if you could answer my question.
Can you please give some insight into the financial transactions between KPIT and Sentient Labs? For FY22 it was around 189.74 million as per the annual report page 220. For FY21 it was around 87.30 million (Annual report Page 315). It would be great if you could explain the expenses incurred for KPIT with respect to Sentient Labs. What are the financial benefits for KPIT in having this collaboration?
I am asking this especially because of this type of news coming in newspapers.
India’s first indigenous Hydrogen fuel cell bus unveiled in Pune – Times of India
The news says it was developed by KPIT and CSIR. So I would like to actually know if it is really KPIT or Sentient Labs.
Can some one clarify the relationship between KPIT and Sentient Labs especially the financial benefits of this association for KPIT? I am wondering if they are trying to setup a new company using the money and name of KPIT.
FY21 Annual Report
FY22 Annual Report
Disclosure: Invested
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