KPIT Technologies Ltd — Interim / Quarterly Report 2025

Jan 29, 2025

==> picture [563 x 92] intentionally omitted <==

January 29, 2025

National Stock Exchange of India Ltd., Exchange Plaza, C/1, G Block, Bandra - Kurla Complex, Bandra (E), Mumbai – 400051.

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001. Scrip ID: KPITTECH Symbol: Scrip Code: 542651 Series: Kind Attn: The Manager, Kind Attn: Department of Corporate Services Dear Sir / Madam, Subject:- Investor Update – Q3 FY 2025. Please find enclosed the investor Update – Q3 FY 2025. Kindly take the same on your records. Thanking you. Yours faithfully, For KPIT Technologies Limited

Symbol: KPITTECH Series: EQ Kind Attn: The Manager, Listing Department

Digitally signed by DESHPANDE DESHPANDE NIDA YUNUS NIDA YUNUS Date: 2025.01.29 12:41:32 +05'30' Nida Deshpande Company Secretary & Compliance Officer

Encl.: - as above

KPIT Technologies Limited O +91 20 6770 6000 Registered & Corporate Office: Plot No. 17, Rajiv Gandhi Infotech Park, MIDC-SEZ, Phase-III, E ~~Maan, Taluka-M~~ info@kpit.com ulshi, Hinjawadi, Pune-411057, India. W kpit.com

CIN: L74999PN2018PLC174192

==> picture [108 x 46] intentionally omitted <==

January 29, 2025

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.

==> picture [61 x 18] intentionally omitted <==

1/27/2025

2

==> picture [148 x 47] intentionally omitted <==

==> picture [9 x 9] intentionally omitted <==

Performance Overview

Q3FY25

Reimagining Mobility with YOU

Performance Overview

1 M Revenue growth 17.4% in CC and 18.1% in $, Y-o-Y 1 Revenue Growth led by Powertrain and Connected

YTDQ3FY25 CC Revenue grows 20.7%

Q3FY25 Net Profit at ₹ 1,870 M, 20.4% Y-o-Y growth 2 Net Profit YTDQ3FY25 PAT growth 38%

FY25 EBITDA outlook increased to 21%+ from 20.5%+ earlier

Q3FY25 EBITDA at 21.1% 3 EBITDA Y-o-Y EBITDA growth of 20.8% Wins and $ 236M worth engagements closed in the quarter 4 Dividend Interim Dividend of ₹ 2.50 per share

==> picture [61 x 18] intentionally omitted <==

1/27/2025 4

Performance Highlights

Net Profit Working (₹ million)	Q3FY25	Q2FY25	Q3FY24	Growth (Y-o-Y)	Growth (Q-o-Q)
Reported Profit	1,870	2,037	1,553	20.4%	(8.2)%
One-time Income	-	450	-	-	-
Tax on above item	-	157	-	-	-
Profit excludingone-time impact	1,870	1,744	1,553	20.4%	7.2%

• 01[Q-o-Q][CC][growth][of][2.0%][and][reported][$][growth][of][1.7%.] Growth led by Asia and Passenger Cars.

02 EBITDA margins stood at 21.1% as compared to 20.8% last quarter, mainly due to productivity improvement, revenue mix and fixed cost leverage.

• 03[The][INR][appreciated][against][Euro][and][Yen][(~][60%][of] revenue) and depreciated against USD (~27% of revenue) in lower INR revenues.

• resulting

Net Cash Balance at the end of the quarter stood at ₹ 14.2 04 billion, depicting high cash conversion during the quarter. DSO at the end of the quarter stood at 42 Days.

==> picture [324 x 280] intentionally omitted <==

==> picture [61 x 18] intentionally omitted <==

1/27/2025

5

Additional facts - timeseries

Revenue $ Million

71 73[77][77][77] 70[74][77][80][84][87][90][94] 65 65

110[124][ 134][145 149159165 173 176]

Consistent Performance

==> picture [59 x 58] intentionally omitted <==

18 Consecutive Quarters of Steady Revenue Growth

EBITDA ₹ Billion

[1.0][1.0][1.2][1.2][1.3][1.4] 0.6[0.7 0.7 0.7 0.8 ] 0.7[0.7][ 0.8 0.9]

[3.1][3.1]

[2.9]

[2.62.7]

[2.4]

[2.2] 1.7[1.9]

==> picture [59 x 59] intentionally omitted <==

18 Consecutive Quarters of Steady EBITDA Growth

==> picture [61 x 18] intentionally omitted <==

1/27/2025

6

Management Quotes

==> picture [153 x 173] intentionally omitted <==

Kishor Patil, Co-founder, CEO and MD, KPIT said,” The third quarter revenues are in-line with our annual revenue outlook while the has due to revenue operating profit improved mix change and productivity improvement, despite currency headwinds. Thus, we increase our annual EBITDA outlook to 21%+ from 20.5%+ earlier. We are in AI Margin investing technologies fined tuned with automotive-specific data. Our AI philosophy is rooted in developing human-centric, innovative, safe, and responsible AI solutions that drive value creation for our clients. We will leverage these AI investments to augment our talent pool, while creating new opportunities for future growth. Our leadership and strength of relationship with our T25 clients is demonstrated by higher deal closures, efficient cash conversion and robust build-up in the pipeline.”

==> picture [153 x 173] intentionally omitted <==

Sachin Tikekar, Co-founder and Joint MD, KPIT said, ” We have been developing new sub-verticals viz Trucks and Off-highway. There are sizable opportunities through these investments, and they are now contributing to building our pipeline across the geographies. These will contribute to our growth from the second half of the next financial year. There are new relationships being explored and built with the Passenger Car and Truck makers in China and Rest of Europe outside Germany. In terms of our new offerings, there is greater interest from our T25 clients in the areas of vehicle cost reduction, cyber security and data-oriented services. Our attrition remains at all-time low levels and our leadership development programs are in full swing to further enhance our continued growth.”

==> picture [61 x 18] intentionally omitted <==

1/27/2025

7

Cash Flow – Major Movement

==> picture [474 x 251] intentionally omitted <==

----- Start of picture text -----

₹ M
Decrease in Working
–
Capital 1,747
–
Capex 144
----- End of picture text -----

Cash and Cash Equivalents break-up ₹ M In Investment Accounts (in India) 3,388 In Investment Accounts (outside India) 4,055 In Operating Accounts 6,843 TOTAL 14,286

NET CASH (₹ M) Q3FY25 Q2FY25 Gross Cash 14,286 10,085 Long Term Debt NIL NIL Short Term Debt 70 401 NET CASH 14,216 9,684

==> picture [55 x 51] intentionally omitted <==

DSO end : 42 Q3FY25 Days

* Debt in the books of Technica

==> picture [61 x 18] intentionally omitted <==

1/27/2025 8

New Engagements

Strong Wins - TCV of new engagements won during Q3FY25 : $ 236 million

==> picture [60 x 381] intentionally omitted <==

A Leading European Car Manufacturer selected KPIT for a strategic engagement in the autonomous driving domain.

Strategic engagements in the electric powertrain and architecture domains for a leading European Car Manufacturer.

Crucial engagements in the vehicle diagnostics and mechatronics domains with a leading American Commercial Vehicle OEM.

Strategic engagements in the connected, autonomous and body electronics domains with a leading Asian Car OEM.

Key Engagements in autonomous and connected domains along with joint go-tomarket for a leading American Semiconductor Company.

==> picture [61 x 18] intentionally omitted <==

1/27/2025

9

FY25 Outlook

Practice & Technology

Additional Technology Investments in related areas. Cross – practice offerings, AI adoption, stronger Asia focus, strategic partnerships & collaborations

Delivery and Operations

CC Revenue growth in the 18% to 22% range

EBITDA Margin of 21%+

Robust competency framework and relentless execution. Leverage Global Delivery. Building scale via automation and productivity

==> picture [74 x 65] intentionally omitted <==

People

Create competence at scale. Focus on Leadership development and AI enablement. New ESOP scheme launched.

Strategic Clients

Deepen Strategic Relationships by building proactive solutions to enhance value delivered to clients. Broad base growth

Profitability

Improve Realization with productivity improvement. Enhance people pyramid, optimization of cost through global delivery model

==> picture [61 x 18] intentionally omitted <==

1/27/2025

10

==> picture [148 x 47] intentionally omitted <==

==> picture [9 x 9] intentionally omitted <==

Other Updates Sir, attachments ?

Q3FY25

Reimagining Mobility with YOU

12

Exhibiting Thought Leadership

==> picture [283 x 199] intentionally omitted <==

==> picture [310 x 198] intentionally omitted <==

==> picture [284 x 198] intentionally omitted <==

Keynote at MathWorks Automotive Conference 2024

Showcasing intelligent and integrated mobility solutions at ELIV 2024

Collaboration takes center stage at Reuters Events Michigan

At the MathWorks Automotive Conference 2024 in Pune, and it was a wonderful experience. Sharing insights at the conference, KPIT CEO & MD Kishor Patil highlighted the critical role of software integrators and tooling partner in mitigating program risks and addressing the complexities of SDV implementation.

At ELIV 2024, KPIT showcased its pioneering advancements in intelligent mobility, focusing on Al-powered intelligent cabins, seamless integration of legacy chassis systems into SDV architectures, and a left-shift validation approach to enhance development quality.

At the Reuters Events in Michigan, Chinmay Pandit, President of KPIT Americas, and Anirvan Coomer, Managing Director GM Ventures, shared insights on leveraging collaboration to navigate mobility industry challenges.

==> picture [61 x 18] intentionally omitted <==

13

Best Place to Grow

==> picture [139 x 99] intentionally omitted <==

==> picture [123 x 99] intentionally omitted <==

==> picture [139 x 99] intentionally omitted <==

==> picture [123 x 99] intentionally omitted <==

Celebrating Excellence at KPIT Awards of Excellence 2024

The KPIT Awards of Excellence 2024 celebrated the remarkable achievements and innovations of teams across technology, client engagement, and more. This vibrant event honored the spirit of collaboration and excellence that drives KPITians to reimagine the future of mobility. It was a night recognizing the collective efforts of KPITians who are shaping the mobility landscape.

==> picture [283 x 202] intentionally omitted <==

KPIT Academy honors Excellence in learning and development

The KPIT Academy Recognition Evening was a celebration of dedication and collaboration, bringing together trainers, panelists, and support teams who have played a pivotal role inshaping successful programs like PMEP, PRGM, and Agile Capability Development. The event highlighted the collective impact of their efforts in fostering a culture of continuous learning and growth at KPIT.

==> picture [201 x 113] intentionally omitted <==

==> picture [232 x 114] intentionally omitted <==

Shaping the Future Of Automotive Education In Thailand

KPIT Thailand recently welcomed students from the Sirindhorn International Institute of Technology (SIIT), Thammasat University, as part of our renewed partnership. The visit was a dynamic exchange of ideas and knowledge, with sessions that explored the fascinating journey of car development, the intricacies of system testing, and the incredible opportunities awaiting young talent at KPIT.

==> picture [61 x 18] intentionally omitted <==

14

Awards and Accolades

==> picture [305 x 197] intentionally omitted <==

KPIT wins Digital Genius Award 2024

KPIT was honored with the Digital Genius Award 2024 in the Data Center category at the 12th edition of the CIO Crown Awards. This recognition acknowledges our ongoing efforts in advancing digital infrastructure through technologies like HCI, dHCI, and Al. It's a reflection of the work we've been putting into building future-ready data center solutions, reinforcing our position in the tech landscape.

==> picture [281 x 202] intentionally omitted <==

KPIT recognized at Reuters Automotive D.R.I.V.E 2024 for Innovation

At the Reuters Automotive D.R.I.V.E. 2024, KPIT was recognized for its leadership in innovation within the automotive industry. Our Sodium Ion Battery Technology earned the prestigious Innovation Award, underscoring our commitment to advancing sustainable solutions in mobility.

==> picture [169 x 201] intentionally omitted <==

Aikyam wins Economic Times DesignScape Award for Iconic Design

KPIT's Aikyam project has been recognized with the Economic Times DesignScape Award in the Iconic Projects category. The innovative design of Aikyam's dome, which serves as a versatile space for collaboration and creativity, exemplifies our commitment to sustainable and cutting-edge architecture, use of natural materials, energyefficient systems, & emphasis on maximizing natural light.

==> picture [61 x 18] intentionally omitted <==

15

Driving Sustainable Growth

KPIT Thailand inspires the next generation

==> picture [145 x 107] intentionally omitted <==

Launch of Junior Scientists Program in Brazil

==> picture [139 x 106] intentionally omitted <==

==> picture [157 x 84] intentionally omitted <==

==> picture [157 x 107] intentionally omitted <==

==> picture [156 x 67] intentionally omitted <==

==> picture [157 x 106] intentionally omitted <==

==> picture [137 x 99] intentionally omitted <==

Munich making a difference with donation drive for Lichtblick Hasenbergl

==> picture [112 x 98] intentionally omitted <==

==> picture [137 x 98] intentionally omitted <==

KPIT supports Columbus Mill Race Charity Marathon with team spirit

==> picture [102 x 182] intentionally omitted <==

==> picture [147 x 106] intentionally omitted <==

==> picture [148 x 88] intentionally omitted <==

US Junior Scientists Program continues to inspire in year two

==> picture [122 x 107] intentionally omitted <==

==> picture [148 x 107] intentionally omitted <==

Inauguration of KPIT Stepwell Rejuvenation project in Pune

==> picture [147 x 80] intentionally omitted <==

==> picture [271 x 99] intentionally omitted <==

==> picture [61 x 18] intentionally omitted <==

==> picture [148 x 47] intentionally omitted <==

==> picture [9 x 9] intentionally omitted <==

Financial & Data Operational

Snapshot Reimagining Mobility with YOU

INR MN

Profit & Loss Account Snapshot

rofit & Loss Account Snapshot
DETAILS Q3FY25 Q2FY25 Q3FY24
Revenue from Operations 14,779.58 14,714.13 12,569.62
Other Income 178.79 514.77 173.87
Total Income 14,958.37 15,228.89 12,743.49
OperatingExpenses 11,657.45 11,696.59 9,984.56
EBITDA 3,122.13 3,064.11 2,585.06
Depreciation 584.40 560.83 499.59
EBIT 2,537.73 2,503.28 2,085.47
Finance Costs 103.10 101.63 157.51
Change in FMV of Investments 15.98 4.22 14.04
Profit Before Exceptional Items 2,629.40 2,874.07 2,115.87
Profit/(loss) from equity accounted investee (63.78) (42.94) -
PBT 2,565.62 2,831.13 2,115.87
Tax 695.92 793.68 548.33
PAT 1,869.70 2,037.45 1,567.54
Profit Attributable to owners of Company 1,869.70 2,037.45 1,553.31
Profit Attributable to non-controlling interest - - 14.23

This includes forex loss ofINR 46.57 million which is excluded in EBITDA computation

==> picture [61 x 18] intentionally omitted <==

1/29/2025 17

INR MN

Balance Sheet Snapshot

Balance Sheet	Snaps	hot			INR MN
ASSETS	Q3FY25	Q2FY25 2,401.93 3,245.22 19.68 14,300.85 3,240.64 23,208.32 985.09 10,084.52 6,530.23 5,047.47 22,647.31 45,855.63	EQUITY & LIABILITIES	Q3FY25	Q2FY25
			Equity Share Capital	2,716.04	2,714.92
NON-CURRENT ASSETS
			Other Equity	24,015.71	22,288.78
Property, Plant & Equipment	2,388.67	2,401.93
			Equity attributable to owners	26,731.75	25,003.70
Right-of-use Assets	3,094.49	3,245.22
			Non-controllinginterests	-	-
Other Tangible Assets	11.44	19.68
			TOTAL EQUITY	26,731.75	25,003.70
Goodwill & Other Intangibles	13,564.47	14,300.85	NON-CURRENT LIABILITIES
			Borrowings	NIL	NIL
Other Non-Current Assets	2,849.66	3,240.64
			Lease Liabilities	2,231.79	2,373.58
TOTAL NON-CURRENT	21,908.73	23,208.32
			Other Non-Current Liabilities	1,238.02	1,259.70
CURRENT ASSETS
			TOTAL NON-CURRENT	3,469.81	3,633.28
Inventories	941.49	985.09	CURRENT LIABILITIES
Cash and Bank	14,285.83	10,084.52	Borrowings	70.39	400.80
Trade Receivables	7,813.27	6,530.23	Trade Payables	2,295.41	2,910.19
			LeaseLiabilities	725.15	716.63
Other Current Assets	2,796.79	5,047.47
			Others	14,453.60	13,191.03
TOTAL CURRENT	25,837.38	22,647.31
			TOTAL CURRENT	17,544.55	17,218.65
TOTAL ASSETS	47,746.11	45,855.63
			TOTAL EQUITY AND LIABILITIES	47,746.11	45,855.63

==> picture [61 x 18] intentionally omitted <==

1/27/2025

18

USD MN

Revenue Break-up

Verticals*	Q3FY25	Q2FY25	Q3FY24	Q-o-Q	Y-o-Y
Passenger Cars	143.86	139.08	116.85	3.40%	23.1%
Commercial Vehicles	26.88	28.65	25.90	(6.2)%	3.8%

• The balance revenues comefromothers,whichis not a big areaas of now

Business Units#	Q3FY25	Q2FY25	Q3FY24	Q-o-Q	Y-o-Y
Feature Development & Integration	109.17	103.35	93.11	5.6%	17.2%
Architecture & Middleware Consulting	35.71	40.60	27.61	(12.0)%	29.3%
Cloud Based Connected Services	31.21	29.23	28.42	6.8%	9.8%

• FeatureDevelopment& Integration- Electrification, AD-ADAS, Body Electronicsand VED Architecture & Middleware Consulting– Middleware,AUTOSAR

CloudBasedConnectedServices– IntelligentCockpit, Digital Connected SolutionsandDiagnostics

Geography	Q3FY25	Q2FY25	Q3FY24	Q-o-Q	Y-o-Y
US	46.41	47.59	44.55	(2.5)%	4.2%
Europe	83.16	84.46	78.81	(1.5)%	5.5%
Asia	46.52	41.13	25.77	13.1%	80.5%

==> picture [61 x 18] intentionally omitted <==

1/27/2025 19

P&L Metrics

&L Metrics
Q3FY25 Q2FY25 Q3FY24 Q-o-Q Y-o-Y Revenue by Contract Type Time & Material Basis 40.8% 43.3% 46.0% (4.2)% 4.7% Fixed Price Basis 59.2% 56.7% 54.0% 6.2% 29.4% Clients Strategic ClientRevenue 87.6% 85.5% 85.0% 4.2% 21.7% Active Clients (Period End) 63 60 60 Revenue per Devp. Employee USD 58,992 49,926 R&D Expenditure (USD MN) 3.15 2.70 3.51 EBITDA Margin 21.1% 20.8% 20.6% EBIT Margin 17.2% 17.0% 16.6% PAT Margin 12.7% 13.8% 12.4% Effective Tax Rate* 26.5% 27.6% 25.9% EPS (Basic) 6.89 7.51 5.73 EPS (Diluted) 6.83 7.45 5.69 56,558	Q3FY25	Q2FY25	Q3FY24	Q-o-Q	Y-o-Y
	40.8%	43.3%	46.0%	(4.2)%	4.7%
	59.2%	56.7%	54.0%	6.2%	29.4%
	87.6%	85.5%	85.0%	4.2%	21.7%
	63	60	60
R&D Expenditure (USD MN)
EBITDA Margin
EBIT Margin
PAT Margin
Effective Tax Rate*
EPS (Basic)
EPS (Diluted)

==> picture [61 x 18] intentionally omitted <==

• ETR is now calculated as Tax/Profit before share of profit/loss from equity accounted investee. The Q2FY25 number is accordingly adjusted

1/27/2025

20

Currency wise revenues, Hedging Details

Currency wise revenue USD	Q3FY25	Q2FY25	Q3FY24
	26.7%	27.8%	31.1%
EUR	41.8%	41.8%	45.9%
GBP	5.6%	6.2%	6.6%
JPY	18.7%	18.7%	10.6%
INR	5.2%	3.6%	3.3%
Others	1.9%	1.9%	2.5%

O/s Hedge Details	Q3FY25
Hedge Rates
USD/INR	85.09
EUR/INR	93.26
GBP/INR	109.57
JPY/INR	0.58
Hedge Amounts(Mn)
USD/INR	63.60
EUR/INR	48.90
GBP/INR	13.50
JPY/INR	6,328.0

==> picture [61 x 18] intentionally omitted <==

1/27/2025

21

Headcount Data

Period End Headcount	Q3FY25	Q2FY25	Q3FY24	Q-o-Q	Y-o-Y
Development	11,940	12,248	11,949	-	-
Enabling & Sales	855	839	778	-	-
Total	12,795	13,087	12,727	-	-

==> picture [61 x 18] intentionally omitted <==

1/27/2025 22

==> picture [148 x 47] intentionally omitted <==

==> picture [9 x 9] intentionally omitted <==

Contact Us

Reimagining Mobility with YOU

==> picture [61 x 18] intentionally omitted <==

Conference Call Details

Conference name : KPIT Technologies Q3 FY2025 Post Earnings Conference Call Date : Wednesday January 29, 2024 Time : 1730 Hrs. Participants : Mr. Kishor Patil, Co-founder, CEO & MD Mr. Sachin Tikekar, President, Joint MD Mr. Anup Sable, CTO Mrs. Priyamvada Hardikar, CFO

Mr. Chinmay Pandit, Whole-time Director & Head Americas Mr. Sunil Phansalkar, VP CF&G , Head-IR

Dial-in Numbers for all participants

: +91 22 6280 1116

Primary number : +91 22 7115 8017 Local Access

International Numbers[:][USA - 1 866][746][2133][|][UK][-][0][808][101][1573] Singapore - 800 101 2045 Hongkong - 800 964 448

Click here for your Diamond Pass

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 11,000+ 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.

==> picture [61 x 18] intentionally omitted <==

For more information, visit http://www.kpit.com

1/27/2025

24

Contact

For Investor Queries

==> picture [76 x 300] intentionally omitted <==

Email

Sunil.Phansalkar@kpit.com

Desk Phone

• 91 20 6770 6997

Cell + 91 98509 66011

Website www.kpit.com

Sunil Phansalkar

==> picture [61 x 18] intentionally omitted <==

25

Contact

For Media Queries

==> picture [76 x 300] intentionally omitted <==

Email Sunil.R@kpit.com

Desk Phone + 91 80 6606 6000 (7865)

Cell + 91 99001 50180

Website www.kpit.com

Sunil B R

==> picture [61 x 18] intentionally omitted <==

26

==> picture [8 x 8] intentionally omitted <==

==> picture [131 x 41] intentionally omitted <==

THANK YOU !!

==> picture [11 x 10] intentionally omitted <==

KPIT Technologies Ltd.

==> picture [642 x 540] intentionally omitted <==