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KPIT Technologies

KPIT Technologies is an multinational company specializing in , , and digital solutions for the automotive and mobility sectors, with a focus on enabling software-defined vehicles through advancements in , autonomous driving, connected and technologies, , and . Headquartered in , , it operates from 31 global offices across 16 countries, including major engineering centers in , , and the . Founded in 1990 and employing approximately 12,900 professionals, including more than 2,000 specialists in advanced mobility technologies, KPIT partners with over 25 leading automotive original equipment manufacturers (OEMs) to accelerate the transformation toward cleaner, smarter, and safer mobility. The company's journey began in the late 1980s when it was incubated within Kirtane and Pandit Chartered Accountants by founders Ravi Pandit and Kishor Patil, alongside co-founders Shirish Patwardhan and Sachin Tikekar. In 1999, KPIT launched its (IPO), which was oversubscribed 50 times, marking a significant milestone in its growth. Between 2002 and 2013, it expanded through acquisitions such as CG Smith, TVS Harita, and in2Soft Diagnostics, while shifting focus toward services; in 2013, it rebranded from KPIT Cummins Infosystems to KPIT Technologies and introduced proprietary mobility software products like REVOLO for hybrid electric vehicles. A major restructuring occurred in 2018 with a merger involving Birlasoft and a demerger that divested over 70% of its non-automotive business, allowing KPIT to concentrate on automotive software; it relisted on Indian stock exchanges in 2019 with a renewed corporate identity. KPIT continues to innovate through strategic acquisitions, including Technica Engineering in 2022 for enhanced software-defined vehicle capabilities and PathPartner Technologies in 2021 for and vision expertise (fully acquired in 2024), alongside partnerships such as with CSIR for hydrogen fuel cell bus development and collaborations with Group and ZF for solutions. In fiscal year 2024 (ending March 2024), the company reported revenues of $587 million, with EBITDA margins at 20.3%, reflecting broad-based growth driven by demand in , connected systems, and advanced driver-assistance systems (ADAS). As of Q2 FY2026 (ended 2025), KPIT reported revenues with 7.9% year-over-year constant currency growth and EBITDA margins of 21.1%, underscoring its position as a key player in reimagining global mobility.

Company Overview

Corporate Profile

KPIT Technologies is a global leader in automotive software integration, specializing in embedded systems, , and digital solutions tailored for the mobility sector, with a particular emphasis on enabling Software-Defined Vehicles (SDV). The company's expertise supports the development of intelligent, connected, and sustainable vehicles, addressing key challenges in through innovative software architectures. The mission of KPIT Technologies is to reimagine in with clients, fostering a cleaner, smarter, and safer world by enabling autonomous, connected, and electrified transportation solutions that power over 20 million vehicles globally. With approximately 13,000 software experts operating across more than 14 centers of excellence worldwide, the company drives technological advancements in the automotive and ecosystems. Headquartered in Pune, Maharashtra, India, KPIT Technologies is publicly listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) under the ticker KPITTECH. For fiscal year 2025, the company reported revenue of ₹5,842 crore (US$690 million) and net income of ₹839 crore (US$99 million), reflecting its scale in the competitive mobility software market. The firm maintains global operations spanning Europe, the USA, Japan, China, Brazil, and India to serve its international clientele.

Global Presence

KPIT Technologies maintains its primary operations in , where its headquarters is located in , , along with multiple development centers in cities such as , , , and . These Indian facilities serve as the core of the company's engineering and R&D activities, leveraging a large pool of specialized talent to support global projects. The company has established key hubs across multiple continents to enhance its proximity to clients and facilitate localized innovation. In , KPIT operates from several locations including , , , , and Gaimersheim in ; in the UK; Göteborg in ; in the ; in ; and in . North American presence is centered in the United States with offices in ; ; and , while is covered through facilities in and São Paulo in . In , beyond , the company has operations in , ; and Utsunomiya in ; in ; and Seongnam-si in , with an additional software engineering center in , , inaugurated in 2025 to bolster its African footprint. KPIT supports its worldwide reach through over 14 software centers of excellence dedicated to automotive R&D, including specialized facilities focused on areas such as autonomous driving and . These centers enable to deliver tailored solutions from strategic locations, ensuring efficient collaboration with partners. The firm emphasizes nearshore and delivery models, allowing it to provide on-site support in client regions while utilizing cost-effective resources from for scalable engineering services. KPIT's client base encompasses major original equipment manufacturers (OEMs) across the , , , and , with more than 25 years of global collaboration in the automotive sector. This extensive network, including partnerships with leading OEMs like , , and , underscores the company's integrated approach to serving diverse regional markets. Approximately 70% of its over 13,000 employees are based in , with the remainder distributed across its international hubs to support localized operations.

History

Founding and Early Years

KPIT Technologies, originally established as KPIT Infosystems, was founded in 1990 in , , by Ravi Pandit and Kishor Patil, both chartered accountants from the firm Kirtane & Pandit. The company emerged during a period when was becoming a nascent hub for technology startups in the late 1980s and early 1990s, incubated initially within the founders' accountancy practice before operating as an independent entity focused on software services. Pandit and Patil, later joined by co-founders Shirish Patwardhan and Sachin Tikekar, envisioned a global technology firm emphasizing innovation in select verticals, with an early orientation toward the automotive and engineering sectors. From its inception, KPIT prioritized development tailored to mobility applications, providing specialized engineering solutions for the . This focus aligned with the growing demand for advanced software in vehicle systems, positioning the firm as a provider of (R&D) services to clients in and international markets. The company's early efforts centered on product engineering and embedded systems, fostering foundational expertise in automotive technologies amid India's emerging IT landscape. A pivotal moment came in 1999 when KPIT launched its (IPO) on Indian stock exchanges, which was oversubscribed 50 times, reflecting strong investor confidence in its growth potential. This listing marked KPIT's formal entry into public markets and provided capital to expand its engineering R&D capabilities for automotive clients, solidifying its trajectory as a key player in software services for the mobility sector.

Mergers and Restructuring

In 2002, KPIT Infosystems Limited merged with Infotech Limited, a of Inc., to form KPIT Infosystems Limited. This merger, effective from January 1, 2002, integrated Infotech's expertise in engineering services for the automotive and manufacturing sectors, significantly expanding KPIT's capabilities in embedded systems and for industrial applications. By 2013, the company underwent a from KPIT Cummins Infosystems Limited to KPIT Technologies Limited, effective July 25, 2013, following shareholder approval. This name change emphasized the firm's growing focus on advanced software solutions, particularly in and technologies, aligning with its evolution from traditional IT services toward product and in embedded systems. In 2018, KPIT Technologies announced a composite scheme involving the merger of its IT services business with Birlasoft (India) Limited, owned by the , followed by a of the combined entity. The merger, approved by the and effective January 1, 2019, created a larger IT services player, while the subsequent separated the businesses into two independent listed entities: Birlasoft Limited, concentrating on general enterprise digital and IT services, and KPIT Technologies Limited, refocused exclusively on automotive and mobility engineering software. This restructuring streamlined operations, allowing KPIT to emerge as a pure-play provider of software solutions for connected, autonomous, and electrified vehicles.

Recent Milestones

Following the of its IT services division into Birlasoft in 2019, KPIT Technologies sharpened its strategic focus on the automotive and mobility sectors, emphasizing software-defined vehicles (SDV), autonomous driving systems, and electrification solutions to align with the industry's shift toward intelligent and sustainable mobility. This refocus enabled the company to deepen its expertise in , ADAS (advanced driver-assistance systems), and architectures, positioning it as a key enabler for original equipment manufacturers (OEMs) navigating . By 2025, KPIT Technologies had grown its global workforce to approximately 13,000 software experts dedicated to mobility innovations, reaching 12,879 by September 2025, reflecting robust hiring to meet rising demand in automotive software development. Concurrently, the company's software solutions were powering over 20 million vehicles worldwide, underscoring its scale in deploying production-ready technologies across passenger cars, commercial vehicles, and emerging electric platforms. This growth was bolstered by strategic investments in R&D and global delivery centers that support end-to-end engineering for international clients. In October 2025, KPIT acquired N-Dream, the company behind , to drive advancements in digital in-car experiences. In November 2025, the company completed its acquisition of Caresoft for up to $191 million, enhancing aftermarket and diagnostic capabilities. Also in November 2025, KPIT announced its 21st consecutive quarter of revenue growth. A pivotal in 2025 was the company's announcement of Q3 FY25 constant currency revenue growth of 17.4% while reiterating the full-year FY25 revenue growth outlook at 18-22% in constant currency and raising the EBITDA margin guidance to over 21%, signaling confidence in sustained and deal wins amid accelerating SDV adoption. These milestones highlighted KPIT's and forward momentum in a rapidly evolving mobility landscape.

Business and Operations

Core Services

KPIT Technologies provides comprehensive (R&D) services, specializing in software for the automotive sector to support the to intelligent and connected solutions. The company delivers end-to-end solutions spanning the entire vehicle lifecycle, from initial creation and prototyping to readiness and optimization. These services encompass , virtual validation, and to ensure efficient development and cost reduction, with offerings like the K-DCP Aftersales Suite enabling faster diagnostics, improved technician productivity by up to 40-50%, and reduced vehicle downtime through intelligent troubleshooting and data across dealer networks. In development, KPIT focuses on vehicle systems integration, including compliance with standards for both and Adaptive platforms. With over 20 years of expertise, the company handles basic software (BSW) configuration, integration, and platform validation for (HPC) and zonal electronic control units (ECUs), accelerating time-to-market while ensuring safety certifications such as ASIL-D. KPIT's digital solutions integrate (AI), , and edge analytics to enable connected vehicle functionalities, including , real-time diagnostics, and data-driven insights for drivers and routes. These offerings leverage certified platforms on AWS, , and Google Cloud, emphasizing , , and efficient local processing to optimize transmission costs and enhance . Vehicle engineering and design services at KPIT include advanced simulation and validation techniques, utilizing (CAD), virtual prototyping, and digital twins to validate concepts and reduce development timelines. Key features incorporate AI-augmented development, modular platforms, and integrated solutions for sustainable compliance and intelligent battery design. These services apply to software-defined vehicles (SDV) by facilitating seamless software-hardware integration.

Key Technologies and Solutions

KPIT Technologies specializes in developing proprietary and operating systems that form the foundation of software-defined vehicles (SDVs), enabling seamless integration across electronic/electrical (E/E) architectures. Their stack, including the ASIL-D certified KSAR Classic Platform and the KSAR Adaptive Platform compliant with 20-11, supports both classic and adaptive AUTOSAR standards, facilitating over-the-air () updates through secure bootloaders and software update strategies like SOTA and FOTA. These solutions incorporate tools such as KOAST for architecture validation, for , and BaSIK for , reducing development time by providing reusable test scenarios and supporting (HPC) and zonal ECUs. The stack has been approved by AG for communication and network management in CAN systems, ensuring per and accelerating transitions to centralized architectures. In autonomous driving, KPIT offers comprehensive ADAS solutions targeting Level 2 to Level 4 autonomy, with a focus on to enhance perception accuracy by integrating data from cameras, radars, lidars, and ultrasonic . Their techniques address challenges like , coordinate transformation, and environmental variations (e.g., weather and lighting), using tailored algorithms for the operation design domain (ODD) to improve for maneuvers such as braking and turning. Key features include an auto-calibrating system for and AI-driven validation for corner cases, supported by robust environments and end-to-end processes from concept to deployment. These solutions enable OEMs to achieve higher reliability in ADAS features like automated emergency braking and lane-keeping, with over seven years of expertise and multiple patents in fusion strategies. KPIT's electrification technologies center on software for EV powertrains and battery management, providing AUTOSAR-compliant platforms that optimize efficiency and reduce total cost of ownership (TCO). Their Battery Management System (BMS) scales from 48V to 700V systems, incorporating a Battery Digital Twin for real-time monitoring, state-of-health prediction, and thermal management to ensure safety and longevity. For powertrains, solutions include scalable inverters up to 250 kW that cut development time by 70%, modular Vehicle Control Units (VCUs) supporting 48V to 600V architectures, and smart chargers with EV Communication Controller (EVCC) stacks for vehicle-to-grid (V2G) bidirectional charging. Integrated X-in-1 systems combine motors, inverters, and controllers, with end-to-end verification services ensuring compliance and performance in both passenger and commercial EVs, including fuel cell electric vehicles (FCEVs). The company's connected vehicle platforms emphasize secure and cybersecurity, leveraging cloud and to process and monetize vehicle data while minimizing risks. Data solutions involve harvesting from control units (TCUs), applying and sampling for efficient , and using analytics for and driver insights, all governed by standards like WP.29 for and . Cybersecurity features include edge-based processing to reduce cloud exposure, protocols for updates, and integration with platforms like AWS, , and Google Cloud for scalable connectivity. These platforms support connected services such as remote diagnostics and fleet optimization, ensuring against threats like unauthorized access in smart charging and systems.

Major Partnerships and Clients

KPIT Technologies primarily serves global automakers in the passenger cars, commercial vehicles, and sectors, acting as a key software integration partner to enable advancements in vehicle electrification, , and . The company's client base includes leading original equipment manufacturers (OEMs) and Tier-1 suppliers, with a strong emphasis on collaborative development to address complex automotive challenges. A significant partnership was established with in March 2023, aimed at accelerating Honda's transformation toward software-defined mobility (SDM). Under this agreement, KPIT provides expertise in and to Honda's for connected and autonomous vehicles, involving over 2,000 KPIT professionals dedicated to the initiative. Similarly, in November 2022, Group selected KPIT as a strategic software scaling partner for its next-generation software-defined vehicle (SDV) programs, with KPIT deploying more than 600 engineers to co-develop scalable architectures from blueprint to deployment. These collaborations highlight KPIT's role in co-innovation for autonomous driving and connected vehicle technologies, fostering ecosystem-wide advancements in mobility solutions. In April 2025, KPIT announced a collaboration with Mercedes-Benz Research and Development India (MBRDI) to expedite the realization of software-defined vehicles, focusing on renovating the SDV technology stack to drive faster innovation and reduce time-to-market. This partnership leverages KPIT's cross-domain expertise in mobility software to enhance product feature launches and deliver cost efficiencies for Mercedes-Benz's advanced development projects. In July 2025, KPIT formed a strategic partnership with JSW Motors to co-develop the software foundation for new energy vehicles, including electric and hybrid platforms, aiming to accelerate India's mobility transformation. In March 2025, KPIT signed a memorandum of understanding (MoU) with Bharat Petroleum Corporation Limited (BPCL) to promote hydrogen-based mobility solutions, including refueling infrastructure and fuel cell bus trials in Kerala. Additionally, in September 2025, KPIT invested up to $10 million in AI startup Helm.ai to enhance generative AI capabilities for autonomous driving and software-defined vehicle perception systems. Through these OEM engagements, KPIT emphasizes joint R&D in areas like AI-driven autonomy and cloud-integrated systems, positioning itself as a pivotal enabler in the evolving automotive landscape.

Leadership and Governance

Executive Leadership

Kishor Patil serves as the Co-founder, , and Managing Director of KPIT Technologies since January 2019, with a tenure exceeding six years as of 2025. A of the Institute of Chartered Accountants of India and member of the Institute of Cost Accountants of India, Patil has driven the company's strategic growth in automotive software, quadrupling revenues and achieving a over USD 5 billion through the 2018 merger-demerger and focus on software-defined vehicles. His total compensation for the was ₹68.92 million, comprising 41.5% . As a co-founder since 1990 alongside Ravi Pandit, Patil brings engineering and entrepreneurial expertise, having nurtured a culture of excellence and mentored in mobility innovations. Sachin Tikekar holds the position of and Joint Managing Director at KPIT Technologies, as part of the founding that established the company in 1990. With a Master's degree in and from , Tikekar oversees global operations across 13 countries and 25+ offices, builds key client relationships, and leads post-demerger strategy, emphasizing an OEM-centric approach to automotive software solutions. His contributions include integrating acquired entities, expanding into emerging markets like , and promoting in vehicle electrification and autonomous driving technologies. Anup Sable is the and Board Member at KPIT Technologies, having joined in 1994 to pioneer its automotive business unit. Starting his career as a at the in the domain, Sable now directs technology strategy, incubating practices in , , and areas like , digital cockpits, and . He has led global teams, co-invented four patents in and automotive safety technologies, and fostered partnerships such as with for engineering services, aligning KPIT's innovations with software-defined vehicle trends. Priya Hardikar acts as and Member of the Executive Board at KPIT Technologies, with over 12 years in . A rank holder in from University and qualified Cost Accountant, Hardikar has established best practices in financial governance and compliance, supporting the company's growth through acquisitions and fiscal expansions in the automotive sector. Her expertise ensures robust financial strategies that underpin KPIT's focus on AI-driven mobility solutions. Ravi Pandit, co-founder of KPIT Technologies in 1990 with Kishor Patil, provides foundational engineering and entrepreneurial vision as Non-Executive Chairman, having transformed the firm into a global automotive software leader over three decades. Holding a Master's from and fellowships in accounting institutes, Pandit's strategic oversight has emphasized radical sustainable transformations in mobility engineering.

Board of Directors

The Board of Directors of KPIT Technologies comprises a mix of , non-executive, and members who provide strategic oversight to the company's operations in automotive software and solutions. As of 2025, the board includes 14 directors, with one serving as Non-Executive Chairman, four as directors, and nine as directors, ensuring a balanced governance structure compliant with SEBI regulations. Ravi Pandit has served as Non-Executive Chairman and Co-Founder since 2018, guiding the board's focus on long-term innovation in sustainable mobility while maintaining independence from daily operations. His emphasizes and alignment with KPIT's goals in software-defined vehicles and technologies. Independent directors bring specialized expertise in , , and to enhance strategic direction and risk mitigation. For instance, B V R Subbu, an veteran, contributes insights on global supply chains and transitions; Bhavna Doshi offers financial acumen from her experience in and ; and Ramesh Raskar provides perspectives through his work in and applications relevant to autonomous systems. Other independents, such as Srinath Batni with over 25 years in automotive operations and Prof. in , further strengthen the board's technical depth. The board operates through key committees to support governance and oversight. The , chaired by Bhavna Doshi, oversees financial reporting and internal controls; the and Remuneration Committee, led by Anant Talaulicar, handles director appointments and ; and the Committee addresses risks related to cybersecurity, , and market volatility in the sector. Additional committees include the Stakeholders Relationship Committee, chaired by B V R Subbu, and the Committee, ensuring and initiatives. KPIT's board prioritizes ethical through a comprehensive that mandates integrity, conflict avoidance, and transparency in all dealings, directly supporting the company's commitment to innovative and responsible solutions. This framework aligns board decisions with strategic objectives, such as advancing software integration for connected and autonomous vehicles, fostering sustainable growth.

Financial Performance

Revenue and Profitability

KPIT Technologies reported consolidated revenue of ₹5,842 for the 2025 (FY25), marking a 19.9% increase year-over-year on a reported basis and 18.7% growth in constant currency terms. The company's net income for FY25 rose 41.2% to ₹839.6 , driven by operational efficiencies and higher-margin projects. EBITDA for the year reached a margin of 21%, aligning with the revised outlook raised mid-year from previous guidance, reflecting a 24% year-over-year increase in EBITDA value. Revenue was predominantly derived from embedded software development and mobility product engineering services, which form the core of KPIT's offerings in the automotive sector. Growth was particularly strong in software-defined vehicles (SDV) and segments, contributing significantly to the overall expansion alongside steady contributions from passenger cars and markets. Since its and listing in , KPIT has maintained consistent double-digit revenue growth, achieving 19 consecutive quarters of both revenue and EBITDA expansion by the end of FY25, underscoring sustained financial momentum in the mobility software domain. In the first half of FY26, the company continued its growth trajectory, with Q1 revenues showing 4.9% year-over-year constant currency growth and an EBITDA margin of 21.0%, followed by Q2 revenues up 7.9% year-over-year (4.4% in USD terms) with an EBITDA margin of 21.1%, though net profit declined 17% in Q2 due to foreign exchange impacts.

Stock and Market Position

KPIT Technologies is listed on the National Stock Exchange (NSE) and (BSE) under the symbol KPITTECH, with its shares trading at approximately ₹1,203 as of November 20, 2025. The company's stands at around ₹327 billion, equivalent to about $3.92 billion, supported by approximately 272 million outstanding shares. This valuation reflects its position in the automotive software sector, where revenue growth has underpinned investor confidence, as detailed in financial performance analyses. The company went public in 1999 through an (IPO) that was oversubscribed 50 times, marking a strong market debut and enabling subsequent expansion in IT and services. Following the 2018 , which separated its and mobility business from the IT services arm (merged with Birlasoft), KPIT Technologies relisted in April 2019 and has since delivered substantial returns, with a 832% increase over the past five years driven by demand for software-defined vehicle (SDV) solutions. However, the experienced a 43% decline immediately post-demerger in early 2019 due to uncertainties. KPIT Technologies' has shown , with a of 1.65, reflecting sensitivity to automotive sector trends such as the shift toward and autonomous driving amid global disruptions and economic cycles. In 2025, shares have declined 18% year-to-date as of November 20, 2025, influenced by softer demand in the mobility industry, though long-term performance remains robust with a 119% in 2023. As a leader in SDV software, KPIT Technologies differentiates itself from general IT service providers through specialized expertise and long-term relationships with more than 25 original equipment manufacturers (OEMs), including , , and , enabling deep integration in software architectures. Analysts project 18-22% in constant currency for FY26, driven by expanding technologies like AI-enabled ADAS and solutions, with an average price target of ₹1,328 indicating potential upside from current levels. This outlook is tempered by near-term macroeconomic headwinds but supported by a total contract value of $473 million in deals secured in the first half of FY26.

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