KPIT Technologies Ltd — Regulatory Filings 2020

Jun 22, 2020

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June 22, 2020

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001.

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

Scrip ID: KPITTECH Scrip Code: 542651 Kind Attn: The Manager, Department of Corporate Services

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

Subject: Disclosure of Related Party Transaction for the half year ended March 31, 2020.

Dear Sir / Madam,

This is to inform you that pursuant to Regulation 23 (9) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed Disclosure of Related Party Transactions, on a consolidated basis for the half year ended March 31, 2020.

Kindly take the same on your records.

Thanking you.

Yours faithfully,

For KPIT Technologies Limited

(Formerly KPIT Engineering Limited)

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Nida Deshpande

Company Secretary & Compliance Officer

O +91 20 6770 6000 E info@kpit.com W kpit.com

KPIT Technologies Limited (Formerly KPIT Engineering Limited) Registered & Corporate Office: Plot No.17, Rajiv Gandhi Infotech Park, MIDC-SEZ, Phase-III, Maan, Taluka-Mulshi, Hinjawadi, Pune-411057, India.

CIN: L74999PN2018PLC174192

KPIT TECHNOLOGIES LIMITED (erstwhile KPIT ENGINEERING LIMITED) Related party disclosures

A. B.	Relationship between theparent and its subsidiaries % voting power held Sr. No Name of the subsidiary As at 31 March 2020 Direct subsidiaries 1 KPIT Technologies(UK)Limited 100 2 KPIT(Shanghai)Software TechnologyCo. Limited 100 3 KPIT Technologies Netherlands B.V 100 4 Impact Automotive Solutions Limited 100 5 KPIT Technologies Pte. Ltd. 100 6 KPIT Technologies HoldingInc. 100 7 99.9 8 KPIT Technologies GK 100 Indirect subsidiaries 9 100 10 100 11 90 12 ThaiGerTec Co. Ltd.(w.e.f. 1 April 2019) 98.37 Joint venture 13 45 List of entitiesjointly controlled by a Group having joint control over the reporting entities(till 31 January 2020) (Refer note 45(4)) Brazil Japan India KPIT Technologies Inc (Subsidiary of KPIT Technologies Holding Inc.) United States of America MicroFuzzy Industrie‐Elektronic GmbH (Subsidiary of KPIT Technologies GmbH,Germany) Germany Thailand Country of Incorporation KPIT Technologies GmbH, Germany (Subsidiary of KPIT Technologies (UK)Limited) Germany United Kingdom China Netherlands India Singapore United States of America MicroFuzzyKPIT Technologia Ltda,Brazil Yantra Digital Services Private Limited(i)	Relationship between theparent and its subsidiaries % voting power held Sr. No Name of the subsidiary As at 31 March 2020 Direct subsidiaries 1 KPIT Technologies(UK)Limited 100 2 KPIT(Shanghai)Software TechnologyCo. Limited 100 3 KPIT Technologies Netherlands B.V 100 4 Impact Automotive Solutions Limited 100 5 KPIT Technologies Pte. Ltd. 100 6 KPIT Technologies HoldingInc. 100 7 99.9 8 KPIT Technologies GK 100 Indirect subsidiaries 9 100 10 100 11 90 12 ThaiGerTec Co. Ltd.(w.e.f. 1 April 2019) 98.37 Joint venture 13 45 List of entitiesjointly controlled by a Group having joint control over the reporting entities(till 31 January 2020) (Refer note 45(4)) Brazil Japan India KPIT Technologies Inc (Subsidiary of KPIT Technologies Holding Inc.) United States of America MicroFuzzy Industrie‐Elektronic GmbH (Subsidiary of KPIT Technologies GmbH,Germany) Germany Thailand Country of Incorporation KPIT Technologies GmbH, Germany (Subsidiary of KPIT Technologies (UK)Limited) Germany United Kingdom China Netherlands India Singapore United States of America MicroFuzzyKPIT Technologia Ltda,Brazil Yantra Digital Services Private Limited(i)	Relationship between theparent and its subsidiaries % voting power held Sr. No Name of the subsidiary As at 31 March 2020 Direct subsidiaries 1 KPIT Technologies(UK)Limited 100 2 KPIT(Shanghai)Software TechnologyCo. Limited 100 3 KPIT Technologies Netherlands B.V 100 4 Impact Automotive Solutions Limited 100 5 KPIT Technologies Pte. Ltd. 100 6 KPIT Technologies HoldingInc. 100 7 99.9 8 KPIT Technologies GK 100 Indirect subsidiaries 9 100 10 100 11 90 12 ThaiGerTec Co. Ltd.(w.e.f. 1 April 2019) 98.37 Joint venture 13 45 List of entitiesjointly controlled by a Group having joint control over the reporting entities(till 31 January 2020) (Refer note 45(4)) Brazil Japan India KPIT Technologies Inc (Subsidiary of KPIT Technologies Holding Inc.) United States of America MicroFuzzy Industrie‐Elektronic GmbH (Subsidiary of KPIT Technologies GmbH,Germany) Germany Thailand Country of Incorporation KPIT Technologies GmbH, Germany (Subsidiary of KPIT Technologies (UK)Limited) Germany United Kingdom China Netherlands India Singapore United States of America MicroFuzzyKPIT Technologia Ltda,Brazil Yantra Digital Services Private Limited(i)
	1	Birlasoft Limited(erstwhile KPIT Technologies Limited)	India
	2	Birlasoft Solutions Inc.(erstwhile KPIT Infosystems Incorporated)	United States of America
	3	Birlasoft Solutions France(erstwhile KPIT Technologies France)	France
	4	Sparta ConsultingInc.	United States of America
	5	Birlasoft Computer Corporation(erstwhile SYSTIME Computer Corporation)	United States of America
	6	Birlasoft Solutions ME FZE(erstwhile KPIT Infosystems ME FZE)	United Arab Emirates
	7	Birlasoft Technologies Canada Corporation(erstwhile KPIT Technologies Corporation)	Canada
	8	Birlaosft Solutions Ltda(erstwhile KPIT Technologies Solucoes Em Informatica Ltda)	Brazil
	9	Birlasoft Solutions GmbH(erstwhile KPIT Solutions GmbH)	Germany
	10	Birlasoft Solutions Mexico,S.A. DE C.V.(erstwhile KPIT Infosystems Mexico,S.A. DE C.V.)	Mexico
	11	Birlasoft Solutions Limited(erstwhile KPIT Infosystems Limited(UK))	United Kingdom

C. D.	List of Key Management Personnel
	Key Management Personnel (KMP)	Mr. S.B.(Ravi) Pandit	Executive Director (w.e.f. 16 January 2019 upto 28 March 2020) & Non‐Executive Director(w. e. f. 29 March 2020)
		Mr. Kishor Patil	Executive Director(w.e.f. 16 January2019)
		Mr. Sachin Tikekar	Executive Director(w.e.f. 16 January2019)
		Mr. Anant Talaulicar	Independent Director(w.e.f. 16 January2019)
		Mr. B V R Subbu	Independent Director(w.e.f. 16 January2019)
		Prof. Alberto Sangiovanni Vincentelli	Independent Director(w.e.f. 16 January2019)
		Dr. Klaus Blickle	Non‐Executive Director(resigned w.e.f. 15 May2019)
		Mr. Nickhil Jakatdar	Independent Director(w.e.f. 16 January2019)
		Ms. Shubhalakshmi Panse	Independent Director(w.e.f. 16 January2019)
		Mr. Rohit Saboo	Nominee Director(resigned w.e.f. 1 February2020)
		Mr. Rafi Maor	Independent Director(w.e.f. 23 October 2019)
		Mr. Vinit Teredesai	Chief Financial Officer(w.e.f. 16 January2019)
		Ms. Nida Deshpande	CompanySecretary (w.e.f. 16 January2019)
	List of other relatedparties with whom there are tran	sactions: Mr. ChinmayPandit Ms. Jayada Pandit Ms. Anupama Kishor Patil Ms. Hemlata Shende Ms. Manasi Patil Ms. Nirmala Shashishekhar Pandit KP Corporate Solutions Limited Proficient FinStock LLP Kirtane & Pandit LLP,Chartered Accountants,Pune K & P Management Services Private Limited KP Capital Advisors Private Limited
	Relative of KMP	Mr. ChinmayPandit
		Ms. Jayada Pandit
		Ms. Anupama Kishor Patil
		Ms. Hemlata Shende
		Ms. Manasi Patil
		Ms. Nirmala Shashishekhar Pandit
	Enterprise over which KMP have significant influence	KP Corporate Solutions Limited
		Proficient FinStock LLP
		Kirtane & Pandit LLP,Chartered Accountants,Pune
		K & P Management Services Private Limited
		KP Capital Advisors Private Limited

KPIT TECHNOLOGIES LIMITED (erstwhile KPIT ENGINEERING LIMITED)

E.	Transactions with relatedparties	Transactions with relatedparties			₹in million	₹in million
	No.	Name of Related party	31 March 2020		31 March 2019
			Amount of transactions during theyear	Balance as on 31 March 2020 Debit/(Credit)	Amount of transactions during theyear	Balance as on 31 March 2019 Debit/(Credit)
	Transactions with relatedparties (ii) & (iii)
	1	Birlasoft Limited (erstwhile KPIT Technologies Limited) Investment in equity Cancellation of equity on account of demerger (Refer Note 44(3)) Loan taken Interest expense Loan Repayment (including interest) Sales Software service charges Advance given (net) Reimbursement of expenses (net) Perquisite tax payable Dividend received Other transactions pertaining to customer/vendor novation which are pending or completed post demerger scheme.
			NIL	NIL	NIL	NIL
			NIL		1.00
			NIL	NIL	1,300.00	NIL
			NIL		48.51
			NIL		1,343.66
			1.07	NIL	148.17	(130.12)
			NIL		380.81
			43.61		312.54
			‐		72.34
			7.95		435.02
			1.80	NIL	NIL	NIL
			13.82	NIL	NIL	NIL
	2	Birlasoft Solutions Inc., USA Sales Software service charges Reimbursement of expenses (net) Other transactions pertaining to customer/vendor novation which are pending or completed post demerger scheme.
			73.25	NIL	286.52	522.27
			NIL		154.68
			511.83		188.48
			500.76		1,495.98
	3	Sparta Consulting Inc., USA Software service charges Reimbursement of expenses (net) Payment towards purchase of investment in MicroFuzzy KPIT Tecnologia Ltda, Brazil Other transactions pertaining to customer/vendor novation which are pending or completed post demerger scheme.
			NIL	NIL	17.50	(8.85)
			NIL		3.21
			201.68		NIL
			(6.93)		NIL
	4	Birlasoft Computer Corporation, USA Sales Software service charges Reimbursement of expenses (net) Other transactionspertainingto customer/vendor novation which are
			0.56	NIL	1.05	(6.63)
			NIL		1.60
			42.88		NIL
			p 0.03
	5	Birlasoft Technologies Canada Corporation Sales Reimbursement of expenses (net) Software service charges Other transactions pertaining to customer/vendor novation which are pending or completed post demerger scheme.
			NIL	NIL	6.55	0.35
			20.06		NIL
			NIL		1.69
			NIL		(6.95)
	6	Birlasoft Solutions Limited Sales Reimbursement of expenses (net) Advance taken (net) Other transactions pertaining to customer/vendor novation which are pending or completed post demerger scheme.
			NIL	NIL	27.65	(45.01)
			267.71		29.52
			0.18		7.01
			(63.74)		(192.75)
	7	Birlasoft Solutions GmbH Sales Reimbursement of expenses (net) Advance given (net) Other transactions pertaining to customer/vendor novation which are pending or completed post demerger scheme.
			NIL	NIL	3.81	50.32
			525.21		34.58
			0.15		NIL
			(12.28)		NIL
	8	Birlasoft Solutions ME FZE. (Korea branch) Software service charges Sales Reimbursement of expenses (net) Other transactions pertaining to customer/vendor novation which are pendingor completedpost demerger scheme.
			NIL	NIL	2.14	(2.75)
			NIL		1.20
			1.66		NIL
			(0.15)		NIL
	9	Birlasoft Solutions ME FZE (Australia branch) Reimbursement of expenses (net) Other transactions pertaining to customer/vendor novation which are pending or completed post demerger scheme.
			5.49	NIL	NIL	4.79
			(5.91)		1.09
	10	Birlasoft Solutions France Interest paid Other transactions pertaining to customer/vendor novation which are pending or completed post demerger scheme.
			0.05	NIL	NIL	NIL
			0.95		NIL

KPIT TECHNOLOGIES LIMITED (erstwhile KPIT ENGINEERING LIMITED)

Transactions with Key Management Personnel (iv)	Transactions with Key Management Personnel (iv)
1	Mr. S. B. (Ravi) Pandit Short term employee benefits Post employment benefit plans Dividend paid Reimbursement of Expenses
		15.97	NIL	10.86	NIL
		0.67	NIL	0.34	NIL
		0.75	NIL	NIL	NIL
		0.07	(0.00)*	0.21	(0.08)
2	Mr. Kishor Patil Short term employee benefits Post employment benefit plans Perquisites Repayment of loan granted Interest received Dividend paid Reimbursement of expenses(net)
		14.48	NIL	10.14	NIL
		0.68	NIL	0.34	NIL
		0.17	NIL	0.10	NIL
		3.33	5.25	1.56	11.80
		0.29		0.25
		21.64	NIL	NIL	NIL
		0.54	(0.01)	0.32	11.72
3	Mr. Sachin Tikekar Short term employee benefits Post employment benefit plans Dividend paid Reimbursement of expenses(net)
		13.85	NIL	9.45	NIL
		0.22	NIL	0.11	NIL
		1.47	NIL	NIL	NIL
		0.43	(0.14)	0.05	(0.05)
4	Mr. Anant Talaulicar Commission paid SittingFees
		NIL	NIL	NIL	NIL
		0.15	NIL	0.02	NIL
5	Mr. B V R Subbu Commission paid SittingFees
		NIL	NIL	NIL	NIL
		0.11	NIL	0.02	NIL
6	Ms. Shubhalakshmi Panse Commission paid SittingFees
		NIL	NIL	NIL	NIL
		0.12	NIL	0.02	NIL
7	Mr. Rohit Saboo Commission paid Sitting Fees Reimbursement of expenses(net)
		NIL	NIL	NIL	NIL
		NIL	NIL	0.02	NIL
		NIL	NIL	0.06	NIL
8	Dr. Klaus Blickle Commissionpaid
		NIL	NIL	NIL	NIL
9	Mr. Nickhil Jakatdar Commission paid Sitting Fees Reimbursement of expenses(net)
		NIL	NIL	NIL	NIL
		0.05	NIL	NIL	NIL
		0.57	NIL	NIL	NIL
10	Prof. Alberto Sangiovanni Vincentelli Commission paid Reimbursement of expenses (net) SittingFees
		NIL	NIL	NIL	NIL
		0.33	NIL	NIL	NIL
		0.05	NIL	NIL	NIL
11	Mr. Rafi Maor Sitting Fees Reimbursement of expenses(net)
		0.05	NIL	NIL	NIL
		0.84	NIL	NIL	NIL
12	Mr. Vinit Teredesai Short term employee benefits Post employment benefit plans Reimbursement of expenses (net) Share based compensation
		5.47	NIL	2.71	NIL
		0.14	NIL	0.06	NIL
		0.27	NIL	0.21	NIL
		0.78	NIL	NIL	NIL
13	Ms. Nida Deshpande Short term employee benefits Post employment benefit plans Reimbursement of expenses (net) Share based compensation
		1.05	NIL	0.52	NIL
		0.04	NIL	0.01	NIL
		0.01	NIL	0.00	NIL
		0.10	NIL	NIL	NIL
Transactions with relative of Key Management Personnel (iv)
1	Mr. Chinmay Pandit Short term employee benefits Post employment benefit plans Dividend paid Reimbursement of expenses(net)
		3.27	NIL	1.23	NIL
		0.08	NIL	0.03	NIL
		0.07	NIL	NIL	NIL
		1.36	(0.21)	0.12	0.02
2	Ms. Jayada Pandit Short term employee benefits Post employment benefitplans
		0.99	NIL	0.51	NIL
		0.03	NIL	0.01	NIL
3	Ms. Anupama Kishor Patil Dividendpaid
		0.21	NIL	NIL	NIL
4	Ms. Hemlata Shende Dividendpaid
		0.07	NIL	NIL	NIL
5	Ms. Manasi Patil Short term employee benefits Post employment benefit plans Dividend paid Reimbursement of expenses(net)
		0.31	NIL	NIL	NIL
		0.01	NIL	NIL	NIL
		0.00*	NIL	NIL	NIL
		0.00*	(0.00)*	NIL	NIL
6	Ms. Nirmala Shashishekhar Pandit Dividendpaid
		0.42	NIL	NIL	NIL

KPIT TECHNOLOGIES LIMITED (erstwhile KPIT ENGINEERING LIMITED)

Transactions with enterprise over which Key Management Personnel have	Transactions with enterprise over which Key Management Personnel have	significant influence	significant influence	significant influence	significant influence
1	Kirtane & Pandit LLP Professional fees
		0.25	(0.05)	0.20	0.02
2	K & P Management Services Private Limited Dividendpaid
		0.53	NIL	NIL	NIL
3	KP Capital Advisors Private Limited Professional fees
		0.24	(0.21)	NIL	NIL
4	KP Corporate Solutions Limited Professional fees
		3.63	(0.33)	NIL	NIL
5	Proficient FinStock LLP Dividendpaid
		109.22	NIL	NIL	NIL
Transactions withjoint venture (ii)
1	Yantra Digital Services Private Limited Investment in equity shares Sale of component Purchase of component Transfer of payroll liabilities Advance given Loan given Interest income on loangiven
		NIL	NIL	NIL	33.97
		NIL	NIL	5.49	NIL
		8.94	(10.55)	NIL	NIL
		1.04	NIL	NIL	NIL
		NIL	NIL	0.15	(0.89)
		4.00	NIL	165.00	173.79
		NIL		9.77

* Since denominated in ₹ millions

• i. The investee is an associate as defined under section 2(87) of the Companies Act, 2013. For the purpose of the consolidated Ind‐AS financial statements, the entity has been considered as a Joint Venture as defined under Ind‐AS 28 : Investments in Associates and Joint Ventures.

• ii. All transactions with these related parties are priced on an arm's length basis.

• iii. For the entities jointly controlled by a Group, since the joint control has concluded effective 1 February 2020, the balances outstanding as at 31 March 2020 are not reflected under related party disclosures. Also refer note 45(4).

• iv. Remuneration excludes provision for gratuity and compensated absences as separate actuarial valuation for the directors, key management personnel and their relatives is not available.