KPIT Technologies Ltd — Interim / Quarterly Report 2023

Jul 26, 2022

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KP 11·

July 26, 2022

BSE Limited

Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001.

Scrip ID: KPITTECH Scrip Code: 542651

Kind Attn: The Manager, Department of Corporate Services

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

Symbol: KPITTECH Series: EQ

Kind Attn: The Manager, Listing Department

Subject: - Outcome of the Board Meeting commenced on July 25, 2022 (at 3.00 pm) and concluded today, i.e. on July 26, 2022 (at 1.10 pm)

Dear Sir / Madam,

We wish to inform you that the Board of Directors of the Company, at its meeting concluded today, inter alia, has approved the following:

1. Unaudited Standalone Financial Results and Consolidated Financial Results for the quarter ended June 30, 2022.

2. Amendment in 'KPIT Technologies Limited-Employee Stock Option Scheme 2019A' ('ESOS 2019A'/ 'Scheme') to increase the approved aggregate number of employee stock options ("Options") from 37,93,923 Options to 41,28,493 Options by creating additional 3,34,570 Options for grant to the eligible employees of the Company and/or its subsidiary company(ies), from time to time, as recommended, by the Nomination and Remuneration (HR) Committee, subject to the approval of shareholders of the Company at ensuing Annual General Meeting.

3. 'KPIT Technologies Limited-Restricted Stock Unit Plan 2022' ("RSU 2022"/ "Plan") consisting of 41,12,157 Restricted Stock Units, as recommended by the Nomination and Remuneration (HR) Committee, subject to the approval of shareholders of the Company at ensuing Annual General Meeting as required under Regulation 6 of the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 and Section 62(1)(b) of the Companies Act, 2013.

4. Reconstitution of Audit Committee, Nomination and Remuneration (HR) Committee and Corporate Social Responsibility Committee are as follows:

a) Audit Committee:

1. Ms. Bhavna Doshi - Chairperson

2. Mr. Anant Talaulicar - Member

3. Mr. B V R Subbu - Member

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KPIT Technologies Limited (Formerly KPIT Engineering Limited) Registered & Corporate Office: Plot No. 17, Rajiv Gandhi lnfotech Park, MIDC-SEZ, Phase-Ill, Maan, Taluka-Mulshi, Hinjawadi, Pune-411057, India. CIN: L74999PN2018PLC174192

0 +91 20 6770 6000 E info@kpit.com W kpit.com

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KP 11·

• b) Nomination and Remuneration (HR) Committee:

  1. Mr. Anant Talaulicar - Chairman

  2. Prof. Alberto Luigi Sangiovanni Vincentelli - Member

  3. Prof. Rajiv Lal - Member

  4. Mr. S. B. (Ravi) Pandit - Member

• c) Corporate Social Responsibility Committee:

  1. Mr. Anant Talaulicar - Chairman

  2. Mr. S. B. (Ravi) Pandit - Member

  3. Mr. Anup Sable - Member

• Appointment of Mr. Chinmay Pandit (DIN: 07109290) as an Additional and Executive Director (Whole-time Director) of the Company, with effect from July 26, 2022.

Further, Mr. Chinmay Pandit has declared that he is not debarred from accessing the capital markets and/or restrained from holding any position/office of director in a company pursuant to order of SEBI or any other such authority.

Brief profile of Mr. Chinmay Pandit along with other details of appointment are set out in Annexure A.

Unaudited Consolidated Financial Results and Standalone Financial Results for the quarter ended June 30, 2022, along with Limited Review Reports thereon and investor update are being sent separately.

Kindly take the same on your records.

Thanking you.

Yours faithfully,

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For KPIT Technologies Limited Nida Deshpande Company Secretary & Compliance Officer

KPIT Technologies Limited (Formerly KPIT Engineering Limited)

0 +91 20 6770 6000 E info@kpit.com W kpit.com

Registered & Corporate Office: Plot No. 17, Rajiv Gandhi lnfotech Park, MIDC-SEZ, Phase-Ill, Maan, Taluka-Mulshi, Hinjawadi, Pune-411057, India. CIN: L74999PN2018PLC174192

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KP 11·

Annexure A

	Annexure A
Name of the	Mr. Chinmay Pandit
Director	(DIN: 07109290)
Reason for change	Appointment as an Additional and Executive Director (Whole-time
	Director).
Date of	July 26, 2022. Mr. Chinmay Pandit shall hold office upto the date of
appointment & term	the ensuing Annual General Meeting and the said appointment will
of appointment	be subject to approval by the shareholders.
Brief Profile	Mr. Chinmay Pandit, is Executive Vice President and a member of
	the Executive Board. He is the Head of Geography (Americas) as
	well as the Head of Commercial Vehicle vertical. As the Geography
	head, he is responsible for the overall strategy and growth plan of
	the company in the geography. This includes executive connect
	with key clients' leadership, business development, operations in
	the geography, people development and the branding and
	positioning of the organization as a key technology expert. Mr.
	Chinmay is also responsible for the profitability of the geography.
	In his additional role as the Vertical Head, he is responsible for
	driving growth as well as the company's investments for the
	Commercial Vehicles vertical. He is also responsible for all client
	engagements in the Commercial Vehicles Vertical across the globe.
	He has been with the Company for last 15 years.
	Before heading Americas Geography, Mr. Chinmay Pandit led the
	Vehicle Engineering & Design practice/business line of the
	Company. The Vehicle Engineering & Design practice in KPIT offers
	new-age mechanical engineering services of design and simulation
	enhanced by technologies such as artificial intelligence,
	automation, digital twins and augmented/virtual reality. Vehicle
	Engineering & Design also bring in KPIT's cross-practice expertise of
	software and feature development to offer mechanical and
	software integrated systems for the autonomous driving,
	infotainment and electric & conventional powertrain domains to
	global clients across the passenger vehicle, commercial vehicle and
	new mobility segment. Balancing profitability with long-term
	sustainability continues has been his choice of focus, for this
	practice/business line. The vehicle engineering & Design practice
	line has held the position of consistently the most profitable
	business line under his leadership. He also led commercial business
	for the company which has grown consistently higher than
	passenger cars in last few years.
	Previously, Mr. Chinmay Pandit has worked with KPMG and
	Infosys. He is a qualified Chartered Accountant from the Institute
	of Chartered Accountants of India. He has also done his MBA from
	world renowned J. L. Kellogg School of Business at the
	Northwestern University, USA and has been awarded 'Most
	Trustworthy Negotiator'. He possesses rich experience of 20 years.

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KPIT Technologies Limited (Formerly KPIT Engineering Limited)

0 '-" j I !:: .... - I lo.. -:I, 0� � :J - '<> f/A.. E info@kpit.com W kpit.com 0 +91 20 6770 6000 * 'Q

Registered & Corporate Office: Plot No. 17, Rajiv Gandhi lnfotech Park MIDC-SEZ Phase-Ill, Maan, Taluka-Mulshi, Hinjawadi, Pune-411057, India. CIN: L74999PN2018PLC174192

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KP 11· r- StartinghiscareerasaCharteredAccountantinenterprise technologies, he brings a blended background in finance, technologyandgeneralmanagement.Hiscrossgeographyand multi-domain experience help KPIT to accelerate strategic advancement for clients within the vertical and the geography and further foster transformational growth.	KP 11· r- StartinghiscareerasaCharteredAccountantinenterprise technologies, he brings a blended background in finance, technologyandgeneralmanagement.Hiscrossgeographyand multi-domain experience help KPIT to accelerate strategic advancement for clients within the vertical and the geography and further foster transformational growth.
Relationship with other directors of the Company	Mr. Chinmay Pandit is son of Mr. S. B. (Ravi) Pandit, Chairman of the Board.

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KPIT Technologies Limited (Formerly KPIT Engineering Limited) Registered & Corporate Office: Plot No. 17, Rajiv Gandhi lnfotech Park, MIDC-SEZ, Phase-Ill, Maan, Taluka-Mulshi, Hinjawadi, Pune-411057, India. I CIN: L74999PN2018PLC174192

0 +91 20 6770 6000 E info@kpit.com W kpit.com

KPIT TECHNOLOGIES LIMITED Registered & Corporate Office: Plot-17, Rajiv Gandhi lnfotech Park, MIDC-SEZ, Phase-Ill, Maan, Hinjawadi, Taluka - Mulshi, Pune - 411057 Phone: +91 20 6770 6000 I 1!rievances@koit.com I www.koit.com I CIN : L74999PN2018PLC174192

PART I: STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE 2022

			r i milion (ec1Dt Dtl shar dat)	r i milion (ec1Dt Dtl shar dat)	r i milion (ec1Dt Dtl shar dat)
Pariculars		Quarer ended		Year	ended
	30 June 2022	31 March 2022	30 June 2021	31 March 2022
	(Unaudited)	(Audited)	(Unaudited)	(Audited)
		(Refer note 10)
Revenue from operations	6,857.24	6,517.65	5,673.81	24,323.86
Other income
•Net unrealised gain on investments carried at fair value through profit	6.12	2.93	21.60		50.67
•and loss
Bank interest, dividend income and realised gain on mutual fund	57.67	57.10	39.31		210.25
investments
Others (Refer note 4)	96.22	70.44	60.46		187.17
Total Income	7,016.26	6,648.12	6,796.17	24,71.96
Expenses
Employee benefits expense	4,528.22	4,329.00	3,757.82		16,105.99
Finance costs (Refer note 5)	63.43	70.46	40.10		193.95
Depreciation and amortisation expense	310.23	307.18	286.46		1,196.14
Other expenses	997.29	974.69	934.83		3,832.41
Total expenses	6,899.17	5,681.33	5,019.21	21,328.49
Profit before share of equit accounted Investees and tax	1,117.08	966.79	75.96		3,443.46
Share of profit of equity accounted investees (net of tax)	3.77	5.37	-		1.98
Proft before tax	1,120.86	972.16	775.96		3,445.44
Tax expenae
Current tax	281.09	238.17	250.07		836.11
Deferred tax benefit	(36.83)	(71.89)	(76.57)		(153.10)
Total tax expenae	244.26	166.28	173.60		683.01
·,
Profit for the period/year	876.59	805.88	602.46		2,762.43
Other comprehensive Income
Items that will not be reclassified subsequently to profit or loss
Remeasurements of defined benefit plans - gain/(loss)	(2.70)	4.37	14.25		(75.00)
Income tax on items that will not be reclassified subsequently to profit or	0.75	(2.97)	(4.98)		26.57
loss
Items that will be reclassified subsequently to profit or loss
Exchange differences on translation of financial statements of foreign	(14.98)	30.28	77.49		13.51
operations
Effective portion of gains/(losses) on hedging instruments in cash flow	(66.72)	(12.98)	(42.39)		20.17
hedges
Income tax on items that will be reclassified subsequently to profit or loss	17.51	4.97	14.81		(6.94)
Total other comprehensive lncome/(losses)	(66.14)	23.67	59.18		(22.69)
Total comprehensive Income for the period/year	810.45	829.55	661.84		2,739.74
Profit atributable to
-,Owners of the Company	854.28	788.TT	602.46		2,742.33
Non-controlling interests	22.31	17.11	-		20.10
Profit for the period/year	876.69	806.88	602.46		2,762.43
Other comprehensive Income atributable to
Owners of the Company	(58.74)	20.26	59.18		(28.14)
Non-controlling interests	(7.40)	3.41	-		5.45
Other comprehensive Income for the period/year	(66.14)	23.67	59.18		(22.69)
Total comprehensive Income atributable to
Owners of the Company	795.54	809.03	661.64		2,714.19
Non-controlling interests	14.91	20.52	-		25.55
Total comprehensive Income for the period/year	810.46	629.55	661.84		2,739.74
Paid up equity capital (face value { 10 per share)	2,700.97	2,700.17	2,691.54		2,700.17
Other equity				10,395.50
Earnings per equity share (face value per share t 10 each)*
Basic	3.16	2.92	2.24		10.17
Diluted	3.13	2.89	2.21		10.05
* are not annualised for the interim periods.
			�

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KPIT TECHNOLOGIES LIMITED

gistered & Corporate Office: Plot-17, Rajiv Gandhi lnfotech Park, MIDC-SEZ, Phase-Ill, Maan, Hinjawadi, Taluka - Mulshi, Pune - 411 Phone: +91 20 6770 6000 I e:rievances@kpit.com I www.kpit.com J CIN : L74999PN2018PLC174192 PART II: SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED

Sr	Pariculars						Quarer ended		fi milion Year ended
No						30 June 2022	31 March 2022	30 June 2021	31 March 2022
						(Unaudited)	(Audited)	(Unaudited)	(Audited)
							(Refer note 10)
1	Segment revenue
	Americas					2,702.14	2,506.78	2,338.22	9,513.63
	UK & Europe					2,835.19	2,665.56	2,342.62	10,226.38
	Rest of the World					3,993.27	3,712.80	2,802.56	13,121.21
	Total					9,530.60	8,885.14	7,483.40	32,861.22
	Less : Inter segment revenue					2,673.36	2,367.49	1,809.59	8,537.36
	Revenue from operations					6,857.24	6,517.65	5,673.81	24,323.86
2	Segmentresults-	Profit	before	taand
	interest
	Americas					774.12	596.43	783.65	2,514.27
	UK & Europe					499.38	528.87	184.17	1,634.75
	Rest of the World					535.21	616.17	**429.01 **	2,004.90
	Total					1,808.71	1,741.47	1,396.83	6,153.92
	Less:
	- Finance costs					63.43	70.46	40.10	193.95
	- Other unallocable	expenditure		(net	of	628.20	704.22	580.77	2,516.51
	unallocable income)
	Profitbefore share	of	equit	accounted		1,117.08	966.79	ns.96	3,443.46
.	Investees and tax Share of profit of equity accounted investees (net of tax)					3.77	5.37	-	1.98
	Profit before tax					1,120.85	972.16	ns.96	3,445.44
3	Segment assets
	Americas					1,560.68	1,264.74	1,529.98	1,264.74
	UK & Europe					2,097.67	1,774.06	1,477.75	1,774.06
	Rest of the World					1,222.62	1,490.94	1,038.12	1,490.94
	Total					4,880.97	4,529.74	4,045.85	4,529.74
	Unallocated assets					19,379.55	18,831.73	16,479.24	18,831.73
	Total assets					24,260.52	23,361.47	20,525.09	23,361.47
4	Segment liabilities
	Americas					189.45	304.85	357.28	304.85
	UK & Europe					1,288.28	1,071.15	310.87	1,071.15
	Rest of the World					276.36	339.33	559.90	339.33
	Total					1,754.09	1,715.33	1,228.05	1,715.33
	Unallocated liabilities					8,420.09	8,395.00	6,747.54	8,395.00
	Total liabilities					10,174.18	10,110.33	7,975.59	10,110.33

a Segment assets other than trade receivables, unbilled revenue and contract assets, and segment liabilities other than unearned revenue and advance to customers used in the Company's business are not identified to any reportable segments, as these are used interchangeably between segments.

b The cost incurred during the year to acquire Property, plant and equipment and Intangible assets, Depreciation/Amortisation and non-cash expenses are not attributable to any reportable segment.

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Notes:

• 1 The above unaudited consolidated financial results have been reviewed by the Audit Committee and thereafter approved and taken on record by the Board of Directors in their meetings held on 25 July 2022 and 26 July 2022 respectively. These unaudited consolidated financial results have been prepared in accordance with the Indian Accounting Standards ("Ind-AS") as specified under Section 133 of the Companies Act, 2013 read with the applicable rules as amended from time to time and the provisions of Companies Act, 2013.

• 2 The statutory auditors of the Company have conducted a limited review of the above unaudited consolidated financial results of the Company for the quarter ended 30 June 2022. An unqualified opinion has been issued by them thereon.

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3 Standalone information:
Sr No Year ended
Particulars 30 June 2022 Quarter ended 31 March 2022 30 June 2021 31 March 2022 [I ]
(Unaudited) (Audited) (Unaudited) (Audited)
(Refer note 10)
a Revenue from operations 3,547.93 3,319.18 2,533.87 11,809.88
b Profit before tax 950.57 912.63 631.72 2,765.72
C Net profit for the period/year 736.84 862.26 523.45 2,381.20
C d Other comprehensive income/(losses) (40.35) (9.42) (18.31) (38.94)
e Total comprehensive income for the period/year 696.49 852.84 505.14 2,342.26
4 Details of foreign exchange gain included in above results:
Year ended
Particulars 30 June 2022 Quarter ended 31 March 2022 30 June 2021 31 March 2022
(Unaudited) (Audited) (Unaudited) (Audited)
(Refer note 10)
Foreign exchange gain included in other income 42.58 43.15 51.08 129.78
5 Details of finance costs:
Particulars Quarter ended Year ended
30 June 2022 31 March 2022 30 June 2021 31 March 2022
(Unaudited) (Audited) (Unaudited) (Audited) \
(Refer note 10)
Finance cost on unwinding of financial Instruments as per Ind-AS 50.45 66.86 30.85 162.80
Interest expense on working capital loan. term loan and other bank 12.98 3.60 9.25 31.15
interest
Total finance costs 63.43 70.46 40.10 193.95
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• �6 The consolidated results of the Company are available on the Company's website, www.kpit.com and also on the website of the SSE Limited, www.bseindia.com and National Stock Exchange of India Limited, www.nseindia.com, where the shares of the Company are listed.

• 7 Mr. Chinmay Pandit has been appointed as an Additional and Executive Director (Whole-time Director) of the Company, with effect from 26 July 2022.

• 8 On 31 May 2022, the Group has acquired a controlling stake of 65% in SOMIT Solutions Limited ("SOMIT['"] ) for an initial consideration of GBP 3.37 million. SOMIT enables after-sales operations of high tech luxury and new age OEMs through a cloud-based vehicle diagnostics platform & expert consulting services. SOMIT's cloud-based platform features an intelligent and intuitive diagnostics solution that will enhance a service technician's user experience and improve service quality by increasing the ratio of first-time-right repairs.

• 9 The Indian Parliament had approved the Code on Social Security, 2020 which could impact the contributions by the company towards Provident will give appropriate impact in the financial results in the period in which, the Code and related rules become effective. Fund and Gratuity. The effective date from which the changes are applicable is yet to be notified. The Company will complete its evaluation an r--

• 10 The figures for the quarter ended 31 March 2022 as reported in these consolidated financial results, are the balancing figures between the audited figures in respect of the full financial year and unaudited published year to date figures upto the end of the third quarter of the relevant financial year.

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For and on behal f the Board of Directors of
KPIT \ECHNOLO I LIMITED
:p
➔
\� �
Kish [� ] Sachln �kar .
Place: Pune CEO & naging Director President nd Joint Managing Director
Date: 26 July 2022 DIN: 00076190 DIN: 02918 60 i
----- End of picture text -----

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\

BS R & Co. LLP

Chartered Accountants

8th floor, Business Plaza, Telephone: +91 20 6747 7300 Westin Hotel Campus, Fax: +91 20 6747 7310 36/3-B, Koregaon Park Annex, Mundhwa Road, Ghorpadi, Pune - 411001, India

Limited Review Report on unaudited consolidated financial results of KPIT Technologies Limited for the quarter ended 30 June 2022 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To the Board of Directors of KPIT Technologies Limited

1. We have reviewed the accompanying Statement of unaudited consolidated financial results of KPIT Technologies Limited ("the Parent"), and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") and its share of the net profit after tax and total comprehensive income of its joint ventures for the quarter ended 30 June 2022 ("the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').

2. This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

4. We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

5. The Statement includes the results of the following entities:

6. 1) KPIT Technologies Limited (Parent)

Subsidiaries

• 2) KPIT Technologies (UK) Limited

• 3) KPIT (Shanghai) Software Technology Co. Limited

• 4) KPIT Technologies Netherland B.V.

• 5) KPIT Technologies GmbH

• 6) KPIT Technologias Ltda (erstwhile Microfuzzy KPIT Technologia Ltda)

• 7) Microfuzzy lndustrie-Elektronic GmbH

• 8) KPIT Technologies Limited GK

• 9) KPIT Technologies Inc.

• 10) KPIT Technologies Holding Inc.

• 11) KPIT Technologies PTE Limited

• 12) ThaiGerTec Co., Limited

14th Floor, Central 8[1] ,,fing and North C[1] /ving, Nesco IT ParK 4, Nesco Center, Western Express Highway, Goregaon (C::ast), Mumbai - 400063

Registered Office:

8 SR & Co (a partnership firm with Registration No. BA61223) con,,erted into BS R & Co LLP (a Limited Liability Partnership with LLP Registration No. AAB-81 B 1) wi;h effect rrom OctoCer 14, 2013

BS R & Co. LLP

• 13) PathPartner Technology Private Limited (with effect from 1 October 2021)

14) PathPartner Technology Inc. (with effect from 1 October 2021)

15) PathPartner Technology GmbH (with effect from 1 October 2021)

16) Somit Solutions (UK) Limited (with effect from 1 June 2022)

17) Somit Solutions Inc. (with effect from 1 June 2022)

18) KPIT Technologies Employee Welfare Trust (ESOP trust)

Joint Ventures

19) Yantra Digital Services Private Limited

20) FMS Future Mobility Solutions GmbH (with effect from 28 September 2021)

1. Attention is drawn to the fact that the figures for the three months ended 31 March 2022 as reported in these unaudited consolidated financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit.

2. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

3. The Statement also includes the Group's share of net profit after tax of Rs. 3. 77 million and total comprehensive income of Rs. 3.77 million, for the quarter ended 30 June 2022, as considered in the unaudited consolidated financial results, in respect of two joint ventures, based on their interim financial information which have not been reviewed. According to the information and explanations given to us by the management, these interim financial information are not material to the Group.

Our conclusion is not modified in respect of this matter.

For B S R & Co. LLP Chartered Accountants Firm's Registration No.: 101248W/W-100022

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Swapnil Dakshindas

Pune

26 July 2022

Partner Membership No.: 113896 UDIN:22113896ANPXWZ7822

KPIT TECHNOLOGIES LIMITED Registered & Corporate Office: Plot-17, Rajiv Gandhi lnfotech Park, MIDC-SEZ, Phase-Ill, Maan, Hinjawadi, Taluka - Mulshi, Pune - 411057 Phone: +91 20 6770 6000 I e:rievances@kpit.com I www.kpit.com I CIN : L74999PN2018PLC174192

PART I: STATEMENT OF UNAUD[I] TED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE 2022

PART I: STATEMENT OF UNAUDITED STANDALONE FINAN	CIAL RESULTS FO	R THE QUARTER	ENDED 30 JUNE 20	22
			r In milion (1xc1rt	Pl 1h1r1 dat
Pariculrs		Quarer ended		Year ended
	30 June 2022	31 March 2022	30 June 2021	31 March 2022
	(Unaudited)	(Audited)	(Unaudited)	(Audited)
		(Refer note 9)
Revenue from operations	3,547.93	3,319.18	2,533.87	11,809.88
Other income:
Net gain on investments carried at fair value through profit and loss	6.12	2.93	21.60	50.67
Bank Interest, dividend income and realised gain on mutual fund	55.59	381.27	39.10	535.06
investments
Others (Refer note 3)	51.90	29.95	72.00	186.99
Total Income	3,661.54	3,733.33	2,666.67	12,682.60
Expenses
Employee benefits expense	1,987.52	1,965.96	1,517.58	7,048.08
Finance costs (Refer note 4)	39.59	54.16	16.39	108.56
Depreciation and amortization expense	212.35	208.22	196.07	815.76
Other expenses	471.51	592.36	304.81	1,844.48
Total expenses	2,710.97	2,820.70	2,034.86	9,816.88
Profit before tax	950.67	912.63	631.72	2,766.72
Tax expense
Current tax	234.47	126.26	157.14	511.53
Deferred tax benefit	(20.74)	(75.89)	(48.87)	(127.01)
Total ta expense	213.73	60.37	108.27	384.62
Profit for the period/year	736.84	862,26	623.46	2,381.20
Other comprehensive Income
Items that will not be reclassified subsequently to profit or loss
Remeasurements of defined benefit plans - gain/(loss)	(5.83)	3.29	14.25	(76.96)
Income tax on items that will not be reclassified subsequently to profit	2.03	(2.97)	(4.98)	25.57
or loss
Items that will be reclassified subsequently to profit or loss
Effective portion of gains/(losses) on hedging instruments in cash	(56.18)	(14.97)	(42.39)	19.13
flow hedges
Income tax on items that will be reclassified subsequently to profit or	19.63	5.23	14.81	(6.68)
loss
Total other comprehensive loBBea	(40.36)	(9.42)	(18.31)	(38.94)
Total comorehensive income for the period/year	696.49	852.84	506.14	2,342.26
Paid up equity capital (face value_t_10 per share)	2,700.97	2,700.17	2,691.54	2,700.17
Other equity				9,488.26
Earnings per equit share (face value per sharet 10 each)*
Basic	2.73	3.19	1.95	8.83
Diluted	2.70	3.16	1.92	8.73
*£PS are not annualised fr the interim perods.

...

Notes:

• , The above unaudited standalone financial results have been reviewed by the Audit Committee and thereafter approved and taken on record by the Board of Directors in their meetings held on 25 July 2022 and 26 July 2022 respectively. These unaudited standalone financial results have been prepared in accordance with the Indian Accounting Standards ("'Ind-AS") as specified under Section 133 of the Companies Act, 2013 read with the applicable rules as amended from time to time and the provisions of Companies Act, 2013.

• 2 The statutory auditors of the Company have conducted a limited review of the above unaudited standalone financial results of the Company for the quarter ended 30 June 2022. An unqualified opinion has been issued by them thereon.

3	Details of foreil!n exchanl!e gain included in above results:
	Particulars		Quarter ended		Year ended
		30 June 2022	31 March 2022	30 June 2021	31 March 2022
		(Unaudited)	(Audited)	(Unaudited)	(Aud_lted)
			(Refer note 9)
	Foreion exchanoe oain fnet) included in other income	18.26	29.28	88.14	180.44
4	Details of finance costs:
	Particulars		Quarter ended		Year ended
		30 June 2022	31 March 2022	30 June 2021	31 March 2022
		(Unaudited)	(Audited)	(Unaudited)	(Audited)
			(Refer note 9)
	Finance cost on unwinding of financial instruments as per Ind-A!	38.53	53.43	15.72	105.69
	Interest expense on working capital loan, term loan and other	1.oe	0.73	0.67	2.87
	bank interest
	Total finance costs	39.69	54.16	16.39	108.66

• 5 Where financial results contain both consolidated financial results and standalone financial results of the parent, segment information is required to be presented only in the consolidated financial results. Accordingly, segment information has been presented in the consolidated financial results. I

• 6 The standalone results of the Company are available on the Company's website, www.kpit.com and also on the website of the BSE Limited, www.bseindia.com and National Stock Exchange of India Limited, www.nseindia.com, where the shares of the Company are liste<

• 7 Mr. Chinmay Pandit has been appointed as an Additional and Executive Director (Whole-time Director) of the Company, with effect from 26 July 2022.

• 8 The Indian Parliament had approved the Code on Social Security, 2020 which could impact the contributions by the company towards Provident Fund and Gratuity. The effective date from which the changes are applicable is yet to be notified. The Company will complete its evaluation and will give appropriate impact in the financial results in the period in which, the Code and related rules become effective.

• 9 The figures for the quarter ended 31 March 2022 as reported in these standalone financial results, are the balancing figures between the audited figures in respect of the full financial year and unaudited published year to date figures upto the end of the third quarter of the relevant financial year.

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For and on behalf of the Board of Directors of
KPIT TECHNOLOGIES LIMITED
\,
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Kis [� ] at Sach lkekar
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Place: Puna CEO anaging Director President and Joint Managing Director
Date: 26 July 2022 DIN : 00076190 DIN: 02918460
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BS R & Co. LLP

Chartered Accountants

8th floor, Business Plaza, Westin Hotel Campus, 36/3-B, Koregaon Park Annex, Mundhwa Road, Ghorpadi, Pune - 411001, India

Telephone: +91 20 6747 7300 Fax +912067477310

Limited Review Report on unaudited standalone financial results of KPIT Technologies Limited for the quarter ended 30 June 2022 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

To the Board of Directors of KPIT Technologies Limited

1. We have reviewed the accompanying Statement of unaudited standalone financial results of KPIT Technologies Limited ("the Company") for the quarter ended 30 June 2022 ("the Statement").

2. This Statement, which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Our responsibility is to issue a report on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

4. Attention is drawn to the fact that the figures for the three months ended 31 March 2022 as reported in these unaudited standalone financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit.

Registered Office;

14th F"!oor, Central B l_l\fing and Nonh C 1Afing, Nesco IT Park. 4, Nesco Center, IJ\lestem Express Highway, Goregaon (East). \1lu1T1bai - 400063

3 SR & Co (a partnership /irm w1lh Reg1s!ral1on No 8A61223) converted into 8 S Ra. Co LLP (a L1m1ted Liability Partnersr.1p wilh LLP Reg1stra!ion No AAB-B161) 'Nilh effect from October 14, �013

BS R & Co. LLP

1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable accounting standards and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For B S R & Co. LLP Chartered Accountants Firm's Registration No.:101248W/W-100022

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Pune

26 July 2022

Swapnil Dakshindas Partner Membership No.: 113896 UDIN:22113896ANPYDL2585

==> picture [35 x 25] intentionally omitted <==

KP 11·

July 26, 2022

To,

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

Symbol: KPITTECH Series: EQ

Kind Attn: The Manager, Listing Department

Subject:- Audited financial results of KPIT Technologies ("the Company") for the quarter ended June 30, 2022.

Dear Sir / Madam,

With reference to the captioned subject, we wish to submit that, there is a difference of Rs. 41.27 million in the paid-up equity share capital of the Company as reported in the shareholding pattern submitted for the quarter ended June 30, 2022 (Rs. 2,741 .43 million) and audited financial results for the relevant quarter ended June 30, 2022 (Rs. 2,700.96 million) on account of elimination of shares held by KPIT Technologies Employees Welfare Trust (the "Trust") as the Company consolidates the financials of the Trust. The Trust holds 4.04 million equity shares in the Company (total face value of Rs. 40.47 million at Rs. 10/- per share) as on June 30, 2022.

Request you to please take note of the same.

Thanking you.

Yours faithfully,

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For KPIT Technologies Limited

==> picture [39 x 35] intentionally omitted <==

Nida Deshpande Company Secretary & Compliance Officer

KPIT Technologies Limited (Formerly KPIT Engineering Limited) Registered & Corporate Office: Plot No. 17, Rajiv Gandhi lnfotech Park, MIDC-SEZ, Phase-Ill, Maan, Taluka-Mulshi, Hinjawadi, Pune-411057, India. I CIN: L74999PN2018PLC174192

0 +91 20 6770 6000 E info@kpit.com W kpit.com