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KPIT Technologies Ltd — Regulatory Filings 2023
Oct 30, 2023
59234_rns_2023-10-30_1878abc8-f105-4782-87d4-cc3f39be1a56.pdf
Regulatory Filings
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KP 11·
October 30, 2023
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, Sandra - Kurla Complex, Sandra (E}, Mumbai - 400051.
Symbol: KPITTECH Series: EQ
Kind Attn: The Manager, Listing Department
Subject; - Disclosure of events & information pursuant to Regulation 30 SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Outcome of the Board Meeting held on October 30, 2023
Time of commencement of the Board Meeting: 9:00 am 1ST. Time of conclusion of the Board Meeting: 12:00 pm 1ST.
Dear Sir/ Madam,
We wish to inform you that the Board of Directors of the Company, at their meeting held today through video conferencing, inter alia, has approved the following:
-
- Un-audited Consolidated Financial Results and Standalone Financial Results for the quarter and half-year ended September 30, 2023.
-
- Issue of Letter of Comfort (LOC) in favor of Technica Engineering GmbH (Technica GmbH), a Wholly-owned Step-down Subsidiary of the Company.
The details of disclosure pursuant to Schedule Ill of the Listing Regulations read with SEBI Circular dated July 13, 2023, are enclosed as "Annexure-A"
- Reconstitution of Nomination and Remuneration (HR) Committee, Stakeholders Relationship Committee, Corporate Social Responsibility Committee and Enterprise Risk Management Committee are as follows:
a) Nomination and Remuneration (HR) Committee:
-
- Mr. Anant Talaulicar, Chairman
-
- Mr. 8 V R Subbu, Member
-
- Prof. Alberto Sangiovanni Vincentelli, Member
-
- Mr. Srinath Batni, Member
-
- Mr. S. B. (Ravi) Pandit, Member

KPIT Technologies Ltd.
I
Registered & Corporate Office: Plot No. 17, Rajiv Gandhi lnfotech Park, MIDC-SEZ, Phase-Ill, Maan, Taluka-Mulshi, Hinjawadi, Pune-411057, India. GIN: L74999PN2018PLC174192
0 +91 20 6770 6000
w kpit.com
KP 11·
b) Stakeholders Relationship Committee:
-
- Mr. B V R Subbu, Chairman
-
- Mr. Kishor Patil, Member
-
- Mr. Anup Sable, Director
c) Corporate Social ResponsibiUty Committee:
-
- Mr. Anant Talaulicar, Chairman
-
- Mr. S. B. (Ravi) Pandit, Member
-
- Mr. Sachin Tikekar, Member
d) Enterprise Risk Management Committee:
-
- Mr. S. B. (Ravi) Pandit, Chairman
-
- Mr. Anant Talaulicar, Mem ber
-
- Mr. B V R Subbu, Member
-
- Ms. Bhavna Doshi, Member
-
- Mr. Srinath Batni, Member
-
- Mr. Chinmay Pandit, Member
-
- Pursuant to Regulation 24 of the Listing Regulations, appointment of Prof. Rajiv Lal, Independent Direct or of t he Company as a Director on the Board of KPIT Technologies Inc., material subsidiary of the Company, w .e.f. October 30, 2023, on resignation of Dr. Nickhil Jakatdar, Independent Director of the Company.
Un-audited Consolidated Financial Results and Standalone Financial Results for the quarter and half-year ended September 30, 2023, along with Limited Review Reports thereon and Investor Update are being sent separately.
Kindly take the same on your records.
Thanking you.
-
Yours faithfully, For KPIT Technologies Limited

Nida Deshpande Company Secretary & Compliance Officer

KPIT Technologies Ltd. Registered & Corporate Office: Plot No. 17, Rajiv Gandhi lnfot ech Park, MIDC-SEZ, Phase-Ill, Maan, Taluka- Mulshi, Hinjawadi, Pune- 411057, India. CIN: L74999PN2018PLC174192
0 +91 20 6770 6000
W kpit.com
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 ~rievancesialkoit.com I www.kcit.com I CIN : L 74999PN2018PLC174192
| PART I: STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2023 | ||||
|---|---|---|---|---|
| Particulars | ( in million (exceot oer share data) | |||||
|---|---|---|---|---|---|---|
| 30 September | Quarter ended | Half Year ended | Year ended | |||
| 2023 | 30 June 2023 {Unaudited) |
2022 | 30 September 30 September 30 September 31 March 2023 2023 |
2022 | {Audited) | |
| Revenue from operations | (Unaudited\ | (Unaudited) | (Unaudited) | (Unaudited\ | ||
| Other income : | 11,991.57 | 10,976.22 | 7,448.32 | 22,967.79 | 14,305.56 | 33,650.38 |
| Net unrealised gain on investments carried at fair value through profit and loss |
8.72 | 2.79 | 11.51 | 4.20 | ||
| Bank interest, dividend income and realised gain on mutual fund investments |
18.37 | 25.74 | 77.40 | 44.11 | 135.07 | 181.42 |
| Others (Refer note 4 and 7) Total Income |
67.57 12,086.23 |
186.55 11,191.30 |
17.50 7,543.22 |
223.83 23,247.24 |
112.72 14,557.55 |
220.50 34,052.30 |
| Expenses | ||||||
| Cost of materials consumed | 186.27 | 139.18 | 325.45 | 658.80 | ||
| Changes in inventories of finished goods and work in-progress |
(10.43) | (67.83) | (78.26) | (254.42) | ||
| Employee benefits expense | 7,752.81 | 7,135.43 | 4,964.43 | 14,888.24 | 9,492.65 | 21,553.00 |
| Finance costs (Refer not e 5) | 135.70 | 137.10 | 70.31 | 272.80 | 133.74 | 323.13 |
| Depreciation and amortisation expense Net unrealised loss on investments carried at fair value through profit and loss |
480.93 | 450.44 | 327.41 1.92 |
931.37 | 637.64 | 1,463.79 25.68 |
| Other expenses (Refer note 4) Total expenses |
1,663.58 10,208.86 |
1,630.64 9,424.96 |
1,102.26 6,466.33 |
3,263.93 19,603.53 |
2,099.55 12,363.58 |
5,338.42 29,108.40 |
| Profit before share of equity accounted Investees and tax |
1,877.37 | 1,766.34 | 1,076.89 | 3,643.71 | 2,193.97 | 4,943.90 |
| Share of profit of equity accounted investees (net of tax) (Refer note 7) |
14.36 | 18.13 | 23.97 | |||
| Profit before tax | 1,877.37 | 1,766.34 | 1,091.25 | 3,643.71 | 2,212.10 | 4,967.87 |
| Tax expense | ||||||
| Current tax | 512.43 | 638.17 | 280.81 | 1,150.60 | 561.90 | 1,091.25 |
| Deferred tax (benefit)/charge Total tax expense |
(49.07) 463.36 |
(216.22) 421.95 |
(25.21) 255.60 |
(265.29) 885.31 |
(62.04) 499.86 |
7.99 1,099.24 |
| Profit for the period/year | 1,414.01 | 1,344.39 | 835.65 | 2,758.40 | 1,712.24 | 3,868.63 |
| Other comprehensive Income It ems that will not be reclassified subsequent ly to profit or loss |
||||||
| Remeasurements of defined benefit plans - gain/(loss) |
(30.70) | (4.21) | (56.54) | (34.91) | (59.24) | (90.10) |
| Income tax on items that will not be reclassified subsequently to profit or loss |
11.99 | 1.55 | 19.12 | 13.54 | 19.87 | 30.83 |
| Items that will be reclassified subsequently to profit or loss |
||||||
| Exchange differences on translation of financial statements of foreign operations |
(118.74) | (56.78) | (68.13) | (175.52) | (83.11) | 654.40 |
| Effective portion of gains/(losses) on hedging instruments in cash flow hedges |
26.80 | 215.71 | (42.71) | 242.51 | (109.43) | (167.45) |
| Income tax on items that will be reclassified subsequently to profit or loss |
(9.32) | (75.01) | 12.93 | (84.33) | 30.44 | 58.00 |
| Total other comprahenaive Jneomo/(lossu:u;:) | (119.97) | 81.26 | (136.33 ) | (38.71) | (201.47) | 485.88 |
| Total comprehensive income for the period/year | 1,294.04 | 1,425.65 | 700.32 | 2,719.69 | 1,510.77 | 4,354.31 |
| Profit attributable to Owners of the Company |
1,408.54 | 1,339.98 | 834.80 | |||
| Non-controlling interests | 5.47 | 4.41 | 0.85 | 2,748.52 9.88 |
1,689.08 23.16 |
3,809.98 58.65 |
| Profit for the period/year | 1,414.01 | 1,344.39 | 835.65 | 2,758.40 | 1,712.24 | 3,868.63 |
| Other comprehensive Income attributable to Owners of the Company |
(122.04) | 80.61 | (132.11) | {41.43) | (190.85) | 491.82 |
| Non-controlling interests | 2.07 | 0.65 | (3.22) | 2.72 | (10.62) | (6.14} |
| Other comprehensive Income for the period/year | {119.97) | 81.26 | (135.33) | {38.71) | {201.47) | 485.68 |
| Total comprehensive Income attributable to Owners of the Company |
1,286.50 | 1,420.59 | 702.69 | 2,707.09 | 1,498.23 | 4,301.80 |
| Non-controlling interests Total comorehenslve income for the oerlod/vear |
7.54 | 5.06 | (2.37) | 12.60 | 12.54 | 52.51 |
| Paid-up equity share capital (face value i 10 per | 1,294.04 2,710.13 |
1 425.65 2,706.02 |
700.32 2,699.53 |
2 719.69 2,710.13 |
1 510.77 2,699.53 |
4 354.31 2,703.46 |
| share) Other equity |
13,811.92 | |||||
| Earnings per equity share (face value per share ~ 10 each)* |
||||||
| Basic | 5.20 | 4.95 | 3.09 | 10.15 | 6.25 | 14.10 |
| Diluted *EPS are not annualised for the interim periods. |
5.16 | 4.91 | 3.06 | 10.06 | 6.18 | 13.95 |
| Registered & Corporate Office: Plot-17, Rajiv Gandhi lnfotech Park, MIDC-SEZ, Phase- Ill, Maan, Hinjawadi, Taluka - Mulshi, Pune - 411057 | KPIT TECHNOLOGIES LIMITED | ||||||
|---|---|---|---|---|---|---|---|
| Phone: +91 20 6770 6000 I [email protected] I www.koit.com I CIN : L74999PN2018PLC174192 | |||||||
| PART II: SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED | r in million | ||||||
| Sr Particulars | Quarter ended | Half Year ended | Year ended | ||||
| No | 2023 /Unauditedl |
(Unaudited) | JO September JO June 2023 JO September JO September 2022 (Unaudited) |
2023 (Unaudited) |
2022 IUnauditedl |
JO September 31 March 2023 (Audited) |
|
| 1 | Segment revenue | ||||||
| Americas | |||||||
| UK & Europe | 3,798.15 | 3,824.64 | 2,829.87 | 7,622.79 | 5,532.01 | 12,342.66 | |
| Rest of the World | 6,506.53 5,594.41 |
5,814.49 5,029.93 |
3,355.74 | 12,321.02 | 6,190.93 | 16,431.52 | |
| Total | 15,899.09 | 14,669.06 | 3,992.87 10,178.48 |
10,624.34 30,568.15 |
7,986.14 19,709.08 |
16,971.17 45,745.35 |
|
| Less : Inter segment revenue | 3,907.52 | 3,692.84 | 2,730.16 | 7,600.36 | 5,403.52 | 12,094.97 | |
| Revenue from operations | 11 991.57 | 10 976.22 | 7 448.32 | 22 967.79 | 14 305.56 | 33 650.38 | |
| 2 | Segment results - Profit before tax and Interest | ||||||
| Americas | 1,105.98 | 1,215.81 | 686.99 | 2,321.79 | 1,461.11 | 3,579.38 | |
| UK & Europe | 1,149.90 | 827.36 | 559.44 | 1,977.26 | 1,058.82 | 2,690.18 | |
| Rest of the World | 768.85 | 639.37 | 433.24 | 1,408.22 | 968.45 | 2,028.38 | |
| Total | 3,024.73 | 2,682.64 | 1,679.67 | 5,707.27 | 3,488.38 | 8,297.94 | |
| Less: | |||||||
| • Finance costs | 135.70 | 137.10 | 70.31 | 272.80 | 133.74 | 323.13 | |
| - Other unallocable expenditure (net of unallocable income) |
1,011.66 | 779.10 | 532.47 | 1,790.76 | 1,160.67 | 3,030.91 | |
| Profit before share of equity accounted Investees and tax |
1,877.37 | 1,766.34 | 1,076.89 | 3,643.71 | 2,193.97 | 4,943.90 | |
| Share of profit of equity accounted Investees (net of tax) (Refer note 7) |
- | - | 14.36 | - | 18.13 | 23.97 | |
| Profit before tax | 1,877.37 | 1,766.34 | 1,091.25 | 3,643.71 | 2,212.10 | 4,967.87 | |
| 3 | Segment assets | ||||||
| Americas | 2,437.82 | ||||||
| UK & Europe | 5,376.27 | 2,382.07 5,153.82 |
1,782.80 2,689.32 |
2,437.82 5,376.27 |
1,782.80 2,689.32 |
2,382.82 3,959.01 |
|
| Rest of the World | 1,068.21 | 810.89 | 1,355.58 | 1,068.21 | 1,355.58 | 1,445.02 | |
| Total | 8,882.30 | 8,346.78 | 5,827.70 | 8,882.30 | 5,827.70 | 7,786.85 | |
| Unallocated assets | 28,563.70 | 28,158.11 | 18,577.93 | 28,563.70 | 18,577.93 | 26,218.90 | |
| Total assets | 37,446.00 | 36,504.89 | 24,405.63 | 37,446.00 | 24,405.63 | 34,005.75 | |
| 4 | Segment liabilities | ||||||
| Americas | 133.05 | 127.52 | 234.11 | 133.05 | 234.11 | 242.61 | |
| UK & Europe | 2,568.73 | 2,200.40 | 1,188.99 | 2,568.73 | 1,188.99 | 1,850.26 | |
| Rest of the World | 651.57 | 799.21 | 383.70 | 651.57 | 383.70 | 507.99 | |
| Total | 3,353.35 | 3,127.13 | 1,806.80 | 3,353.35 | 1,806.80 | 2,600.86 | |
| Unallocated liabilities | 15,389.26 | 15,214.80 | 8,486.38 | 15,389.26 | 8,486.38 | 14,771.95 | |
| Total liabilities | 18,742.61 | 18,341.93 | 10,293.18 | 18,742.61 | 10,293.18 | 17,372.81 |
a Segment assets other than trade receivables, unbilled revenue and contract assets, and segment liabilities other than unearned revenue and advance from 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 period/year to acquire Property. plant and equipment and Intangible assets, Depreciation/Amortisation and non-cash expenses are not attributable to any reportable segment.
Registered & Corporate Office: Plot-17, Rajiv Gandhi lnfotech Park, MIOC-SEZ, Phase-Ill, Maan, Hinjawadi, Taluka - Mulshi, Pune - 411057 Phone: +91 20 6770 6000 I ,rievances®koit.com I www.koit.com I CIN: L74999PN2018PLC174192
| PART Ill: CONSOLIDATED BALANCE SHEET | fin million | ||
|---|---|---|---|
| Particulars | As at 30 September 2023 |
As at 31 March 2023 (Audited) |
|
| (Unaudited) | |||
| A 1 |
ASSETS Non-current assets |
||
| a. | Property, plant and equipment | ||
| b. | Right-of-use assets | 2,174.94 | 2,143.89 |
| c. | Capital work-in- progress | 2,818.33 42.18 |
2,594.34 |
| d. | Goodwill | 11,205.76 | 56.43 10,102.57 |
| e. | Other intangible assets | 3,005.45 | 2,003.62 |
| f. | Intangible assets under development | - | 268.77 |
| g. | Investments accounted for using the equity method | - | 252.22 |
| h. | Financial assets | ||
| Investments | 0.45 | 0.45 | |
| Other financial assets | 531.68 | 568.34 | |
| i. | Income tax assets (net) | 327.70 | 292.70 |
| j. | Deferred tax assets (net) | 766.51 | 698.70 |
| k. | Other non-current assets | 23.59 | 8.00 |
| 2 | Current assets | 20 896.59 | 18 990.03 |
| a. | Inventories | 890.50 | 587.50 |
| b. | Financial assets | ||
| Investments | 192.09 | 389.52 | |
| Trade receivables | |||
| Billed | 6,926.29 | 5,924.40 | |
| Unbilled | 1,956.01 | 1,823.21 | |
| Cash and cash equivalents | 4,735.02 | 4,542.13 | |
| Bank balances other than cash and cash equivalents above | 1,011.47 | 949.19 | |
| Loans Other financial assets |
0.42 | - | |
| c. | Other current assets | 298.13 539.48 |
283.72 516.05 |
| 16 549.41 | 15 015.72 | ||
| TOTAL ASSETS | 37,446.00 | 34,005.75 | |
| B | EQUITY AND LIABILITIES Equity |
||
| a. | Equity share capital | 2,710.13 | 2,703.46 |
| b . Other equity | 15,862.06 | 13,811.92 | |
| Equity attributable to owners of the Company | 18 572.19 | 16 515.38 | |
| Non-controlling interests | 131.20 | 117.56 | |
| Total equity | 18 703.39 | 16 632.94 | |
| Liabilit ies | |||
| 1 | Non- current liabilit ies | ||
| a. | Financial liabilities | ||
| Borrowings | 1.44 | 2.26 | |
| Lease liabilities | 2,054.93 | 1,864.28 | |
| Other financial liabilities | 1,651.06 | 2,850.16 | |
| b. | Provisions | 475.56 | 375.45 |
| c. | Deferred tax liabilities (net) | 698.94 | 600.12 |
| 2 | Current liabilities | 4 881.93 | 5,692.27 |
| a. | Financial liabilities | ||
| Borrowings | 1,153.25 | 489.84 | |
| Lease liabilities | 549.90 | 508.88 | |
| Trade payables | |||
| (i) Total outstanding dues of micro enterprises and small enterprises | 3.34 | 3.53 | |
| (ii) Total outstanding dues of creditors other than micro enterprises and small enterprises | 2,488.61 | 1,639.82 | |
| b. | Other financial liabilities Other current liabilities |
3,097.50 | 4,448.21 |
| c. | Provisions | 4,777.50 | 3,614.42 |
| d. Income tax liabilities (net) | 920.02 | 517.25 | |
| 870.56 13 860.68 |
458.59 11 680.54 |
||
| TOTAL EQUITY AND LIABILITIES | 37,446.00 | 34,005.75 |
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 30 Octo ber 2023. These unaudited consolidated financial results have been prepared in accordance with the Indian Account ing Standards ("Ind-AS") as specified under Section 133 of the Companies Act, 2013 read with t he 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 on the above unaudited consolidated financial results of the Company for the quarter and half year ended 30 September 2023. An unqualified opinion has been issued by them thereon.
3 Standalone information:
| Sr No Particulars | Quarter ended | Half Year ended | Year ended | |||||
|---|---|---|---|---|---|---|---|---|
| 30 September 30 June 2023 2023 (Unaudited\ |
(Unaudited) | 2022 (Unaudited) |
2023 (Unaudited) |
30 September 30 September 30 September 31 March 2023 2022 (Unaudited) |
(Audited) | |||
| a | Revenue from operations | 5,034.12 | 4,449.55 | 3,575.70 | 9,483.67 | 7,123.63 | 15,164.29 | |
| b | Profit before tax | 1,109.71 | 995.70 | 870.19 | 2,105.41 | 1,820.76 | 3,655.53 | |
| C | Net profit for the period/year | 843.51 | 766.61 | 658.18 | 1,610.12 | 1,395.02 | 2,801.61 | |
| d | Other comprehensive income/(losses) |
(11.28) | 134.58 | (58.16) | 123.30 | (98.51) | (163.03) | |
| e | Total comprehensive income for the period/year |
832.23 | 901.19 | 600.02 | 1,733.42 | 1,296.51 | 2,638.58 |
4 Details of foreign exchani:ie gain/loss included in above results:
</unaudited)<>| Particulars | Quarter ended | Half Year ended | Year ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 (Unaudited) |
(Unaudited) | 2022 /Unaudited) |
2023 <unaudited)< th=""> | 2022 (Unaudit ed) | 30 September 30 June 2023 30 September 30 September 30 September 31 March 2023 (Audited} |
2022 (Unaudit ed) |
30 September 30 June 2023 30 September 30 September 30 September 31 March 2023 (Audited} |
|||||
| Foreign exchange gain (net} included in other income |
30.29 | - | 4.66 | - | 47.24 | 100.43 | ||||||
| Foreign exchange loss (net) included in other expenses |
- | 61.32 | - | 31.03 | - | - | ||||||
5 Details of finance cost s:
| Part le u Lars | Quarter ended | Half Year ended | Year ended | |||
|---|---|---|---|---|---|---|
| 2023 (Unaudited) |
30 September 30 June 2023 (Unaudited) |
2022 /Unaudited) |
30 September 30 September 30 September 2023 /Unaudited) |
2022 (Unaudited) |
31 March 2023 (Audited) |
|
| Finance cost on unwinding of financial instruments as per Ind-AS |
77.96 | 84.47 | 52.36 | 162.43 | 102.81 | 230.48 |
| Interest expense on working capital loan, term loan and other bank interest |
57.74 | 52.63 | 17.95 | 110.37 | 30.93 | 92.65 |
| Total finance costs | 135.70 | 137.10 | 70.31 | 272.80 | 133.74 | 323.13 |
6 The consolidat ed 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.nselndia.com, where the shares of the Company are listed.
7 Effective 1 April 2023, the Group had acquired the balance stake of 75% in FMS Future Mobility Solutions GmbH, Germany (FMS) through KPIT Technologies GmbH, a wholly owned step down subsidiary of the Company. Pursuant to this KPIT Technologies GmbH now holds 100% stake in FMS.
In line with IND- AS 103, Business Combinations, the Group had remeasured its previously held equity interest in FMS at the acquisition-date fair value. Accordingly, the Group had recognised a gain of t 134.13 million during the previous quarter.
8 Effective 1 October 2022, the Group had acquired the entire stake in Technica Engineering GmbH, Germany, Technica Electronics Barcelona S.L., Spain and Technica Engineering Spain S.L., Spain through KPIT Technologies GmbH, a wholly owned step-down subsidiary of the Company and Technica Engineering Inc, USA through KPIT Technologies Inc. a wholly owned step-down subsidiary of the Company.
During the current quarter, the purchase price allocation and the related identification and measurement of identifiable Intangible asset acquired in a business combination is completed.
- 9 Mr. Srinath Batni was appointed as an Additional and Independent Director of the Company, with effect from 25 July 2023. Further, the Shareholders in their 6th Annual General Meeting held on 29 August 2023, have approved his appointment as an Independent Director for a period of five years from 25 July 2023.
- 10 Consolidated statement of cash flows is attached in Annexure A.
For and on behalf of the Board ctr· ctors f KPIT TECHNOLOGIES LIMITED s Place: Pune "!,~"' ,~ '""""'')7 ~Chairm President & Joint Managing Director Dat e: 30 October 2023 DIN: 0 758 DIN : 02918460 '
Registered & Corporate Office: Plot-17, Rajiv Gandhi lnfot ech Park, MIDC-SEZ, Phase-Ill, Maan, Hinjawadi, Taluka - Mulshi, Pune - 411057 Phone: +91 20 6770 6000 I [email protected] I www.kpit.com I CIN : L74999PN2018PLC174192
ANNEXURE A: CONSOLIDATED STATEMENT OF CASH FLOWS
| f in million | |
|---|---|
| Particulars | Half Year ended | Year ended | |
|---|---|---|---|
| 30 September | 30 September | 31 March 2023 | |
| 2023 | 2022 | (Audited) | |
| (Unaudited) | (Unauditedl | ||
| A CASH FLOW FROM OPERATING ACTIVITIES | |||
| Profit for the period/ year | 2,758.40 | 1,712.24 | 3,868.63 |
| Adjustments for: | |||
| Tax expense | 885.31 | 499.86 | 1,099.24 |
| Depreciation and amortisation expense | 931.37 | 637.64 | 1,463.79 |
| Finance costs | 272.44 | 133.74 | 323.13 |
| Interest income | (46.80) | (119.60) | (140.59) |
| Dividend income | (1.54) | (1.98) | (3.29) |
| Property, plant and equipments and other intangible assets written off | - | 8.47 | 8.77 |
| Net (gain)/loss on disposal of property, plant and equipments | 1.20 | - | (6.72) |
| Unrealised (gain)/ loss on investment carried at fair value t hrough profit and loss (net) | (11.51) | (4.20) | 25.68 |
| Realised gain on investment carried at fair value through profit and loss (net) | (2.98) | (18.34) | (59.54) |
| Provision for doubtful debts and advances (net) | 65.69 | (14.15) | 71.03 |
| Bad debts written off | 0.61 | 31.05 | 49.63 |
| Share based compensation expenses | 52.74 | 60.34 | 118.74 |
| Net unrealised foreign exchange (gain)/ loss | (12.33) | (63.21) | 615.33 |
| Gain on sale of investment in an associate | - | (18.86) | (18.86) |
| Share of profit of equity accounted investees (net of tax) | - | (18.13) | (23.97) |
| Gain on previously held interest in equity account ed investees | (134.97) | - | - |
| Others | (1.92) | (7.45) | (8.82) |
| 4 ,755.71 | 2 ,817.42 | 7,382.18 | |
| Operating profit before working capital changes | |||
| Adjustments for changes in working capital: | (1,023.41) | (846.48) | (2,045.62) |
| Trade receivables | (303.00) | - | (0.95) |
| Inventories | 93.12 | (461.07) | (95.95) |
| Other financials assets, loans and other assets | 843.49 | (32.33) | (129.35) |
| Trade payables Other financial liabilities, other liabilit ies and provisions |
1,104.42 | 19.41 | 502.65 |
| 5,612.96 | |||
| Cash generated from operations income t axes paid (net) |
5 ,470.33 (704.46) |
1,496.95 (454.74) |
(988.51) |
| Net cash generated from operating activities (A) | 4,765.87 | 1,042.21 | 4,624.45 |
| B CASH FLOW FROM INVESTING ACTIVITIES | |||
| Purchase of property, plant and equipment and int angible assets | (999.57) | (675.72) | (1,294.98) |
| Proceeds from sale of property, plant and equipment | (0.48) | - | 18.82 |
| Payment s pursuant to acquisition of subsidiaries | (3,399.63) | (314.38) | (5,781.91) |
| Acquisit ion of non- controlling interests | - | - | (446.66) |
| Investm ent in mutual f und | (1,666.00) | (1,750.00) | (5,339.00) |
| Proceeds from sale of investment in m utual fund | 1,872.81 | 1,788.82 | 6,050.61 |
| Proceed from sale of investments carried at fair value through profit and loss | 6.30 | 5.46 | 10.29 |
| Proceeds from sale of investment in an associate | - | ||
| Interest received | 19.13 | 19.13 | |
| 33.72 | 103.58 - |
201.27 0.41 |
|
| Dividend received Fixed deposits with banks (net) having original maturity over three months |
- 3.11 |
562.76 | 4,538.56 |
| Net cash used in investing activities (B) | (260.35) | (2,023.46) | |
| (4,149.74) | |||
| C CASH FLOW FROM FINANCING ACTIVITIES | |||
| Repayment of long term loan from banks | (2.04) | (1.88) | (3.83) |
| Repayment of long term loan from ot her than banks | - | (15.00) | (15.00) |
| Proceeds from issue of Share Capital and application money | 1.00 | - | - |
| Payment of lease liabilities | (361.32) | (254.35) | (578.31) |
| Proceeds from working capital loan | 542.86 | 1,044.70 | |
| Repayment of working capital loan | 3,758.25 (3,165.15) |
(542.86) | (1,089.01) |
| Payments for shares purchased by Employee Welfare Trust | - | (228.43) | (228.43) |
| Proceeds from shares issued by Employee Welfare Trust | 6.81 | 17.28 | |
| Dividend paid | 14.73 (717.63) |
(499.83) | (891.63) |
| Int erest and finance charges paid | (99.91) | (31.84) | (86.76) |
| Net cash used In financing activities (C) | (572.07) | (1,024.52) | (1,830.99) |
| D Exchange differences on translation of foreign currency cash and cash equivalents | 11.83 | 20.82 | 3.28 |
| Net lncrease/(decrease) in cash and cash equivalents (A + B + c + D) | 55.89 | (221.84) | 773.28 |
| Cash and cash equivalents at close of the period /year | 4,735.02 | 3,241.36 | 4,542.13 |
| Cash and cash equivalents at beginning of the p eriod/year | 4,542.13 | 3,420.63 | 3,420.63 |
| Cash and cash equivalents on account of acquisition of subsidiaries | 137.00 | 42.57 | 348.22 |
| Cash surplus/(deficit) for the period/year | 55.89 | (221.84) | 773.28 |
r
8 SR & Co. LLP
Chartered Accountants
8th floor, Business Plaza Westin Hotel Campus 36I3-B, Koregaon Park Annex Mundhwa Road, Ghorpadi Pune - 411 001, India Telephone: +91 (20) 6747 7300 Fax: +91 (20) 6747 7100
Limited Review Report on unaudited consolidated financial results of KPIT Technologies limited for the quarter ended 30 September 2023 and year to date results for the period from 1 April 2023 to 30 September 2023 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
-
- We have reviewed the accompanying Statement of unaudited consolidated financial results of KPIT Technologies Limited (hereinafter referred to as "the Parent"), and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") for the quarter ended 30 September 2023 and year to date results for the period from 1 April 2023 to 30 September 2023 ("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").
-
- 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.
-
- 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.
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.
- The Statement includes the results of the following entities:
1) KPIT Techologies Limited
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 Technologia Ltda
- 7) Microfuzzy lndustrie-Elektronic GmbH
- 8) KPIT Technologies Limited GK
- 9) KPIT Technologies Inc.
- 10) KPIT Technologies Holding Inc.
- 11) ThaiGerTec Co., Limited

Registered Office:
141h FJoor, Central B 'Mng and North C 1/\/ing, Nesco IT Park•· Nesco Center, VVestem Express Highway. Goreoaon (East), Mumbai• • 00063 Page 1 of 2
8 S R & Co. (a partne~hip firm with Registration No. BA61223) converted klto 8 SR & Co. LLP (a Limited Uablllty Partnership with LLP Reg1stra11on N o AAB-8181) wilh effect rrom October 14 , 2013
BS R & Co. LLP
Limited Review Report (Continued) KPIT Technologies Limited
- 12) PathPartner Technology Private Limited
- 13) PathPartner Technology Inc.
- 14) PathPartner Technology GmbH
- 15) Samit Solutions (UK) Limited (with effect from 01 June 2022)
- 16) Samit Solutions Inc. (with effect from 01 June 2022)
- 17) KPIT Technologies Employee Welfare Trust (ESOP Trust)
- 18) KPIT Technologies SAS (with effect from 23 September 2022)
- 19) Technica Engineering GmbH (with effect from 01 October 2022)
- 20) Technica Electronics Barcelona, S.L. (with effect from 01 October 2022)
- 21) Technica Electronics Spain S.L. (with effect from 01 October 2022)
- 22) Technica Engineering Inc. (with effect from 01 October 2022)
- 23) Qorix GmbH (with effect from 10 March 2023)
- 24) FMS Future Mobility Solutions GmbH (with effect from 01 April 2023)
-
- 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.
-
- The Statement includes the interim financial information of one Subsidiary which has not been reviewed, whose interim financial information reflects total assets (before consolidation adjustments) of Rs. 639.81 million as at 30 September 2023 and total revenues (before consolidation adjustments) of Rs. Nil and Rs. Nil. total net profit after tax (before consolidation adjustments) of Rs. 10.67 million and Rs. 14.90 million and total comprehensive income (before consolidation adjustments) of Rs. 10.67 million and Rs 14.90 million, for the quarter ended 30 September 2023 and for the period from 1 April 2023 to 30 September 2023 respectively, and cash flows (net) (before consolidation adjustments) of Rs. 37.40 million for the period from 1 April 2023 to 30 September 2023. as considered in the Statement. According to the information and explanations given to us by the Parent's management, this interim financial information is not material to the Group.
Our conclusion is not modified in respect of this matter.
For BS R & Co. LLP Chartered Accountants Firm's Registration No.:101248W/W-100022
Swapnil Dakshindas Partner Membership No.: 113896 UDIN:23113896BGYESY9572
Pune 30 October 2023
Page 2 of 2
| Regist ered & Corporate Office: Plot-17, Rajlv Gandhi lnfotech Park, MIDC-SEZ, Phase-Ill, Maan, Hinjawadl, Taluka - Mulshl, Pune - 411057 | KPIT TECHNOLOGIES LIMITED | |||||
|---|---|---|---|---|---|---|
| Phone: +91 20 6770 [email protected] I CIN: L74999PN201BPLC174192 | ||||||
| PART I: STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2023 | ||||||
| Particulars | Quarter ended | t In ml/lion (exceot oer share data J | ||||
| 30 September | 30 June 2023 | Half Year ended 30 September 30 September 30 September 31 March 2023 |
Year ended | |||
| 2023 (Unaudited) |
(Unaudited) | 2022 (Unaudited) |
2023 (Unaudited) |
2022 (Unaudited) |
(Audited) | |
| Revenue from operations | 5,034.12 | 4,449.55 | 3,575.70 | |||
| Other income: | 9,483.67 | 7,123.63 | 15,164.29 | |||
| Net gain on investments carried at fair value through profit and loss | 7.31 | 2.79 | 10.10 | 4.20 | ||
| Bank Interest, dividend income and realised gain on mutual fund investments |
12.52 | 12.14 | 73.97 | 24.66 | 129.56 | 166.92 |
| Others (Refer note 3) | 39.62 | 8.50 | 12.22 | 12.16 | 64.12 | 256.64 |
| Total Income | 5,093.57 | 4,472.98 | 3,661.89 | 9,530.59 | 7,321.51 | 15,587.85 |
| Expenses | ||||||
| Employee benefits expense | 2,994.28 | 2,674.01 | 2,165.88 | 5,668.29 | 4,153.40 | 8,873.32 |
| Finance costs (Refer note 4) | 37.10 | 38.14 | 38.54 | 75.24 | 78.13 | 146.79 |
| Depreciation and amortization expense | 254.42 | 228.72 | 230.06 | 483.14 | 442.41 | 905.17 |
| Net loss on Investments carried at fair value through profit and loss | 1.92 | 25.68 | ||||
| Other expenses (Ref er note 3) Total expenses |
698.06 3,983.86 |
536.41 3,477.28 |
355.30 2,791.70 |
1,198.51 7,425.18 |
8 26.81 5,500.75 |
1,981.36 11,932.32 |
| Profit before tax | 1,109.71 | 995.70 | 870.19 | 2,1D5.41 | 1,820.76 | 3,655.63 |
| Tax expense | ||||||
| Current tax | 285.95 | 251.25 | ||||
| Deferred t ax (benefit)lcharge | (19.75) | (22.16) | 223.79 (11.78) |
537.20 (41.91) |
458.26 (32.52) |
857.68 (3.76) |
| Total tax expense | 266.20 | 229.09 | 212.01 | 495.29 | 425.74 | 853.92 |
| Profit for the period/year | 843.51 | 766.61 | 658.18 | 1,610.12 | 1,395.02 | 2,801.61 |
| Other comprehensive income | ||||||
| Items that will not be reclassified subsequently to profit or loss | ||||||
| Remeasurements of def ined benefit plans - gain/(loss) | (43.63) | (5.14) | (50.01) | (48.77) | (55.84) | (88.38) |
| Income tax on items that will not be reclassified subsequently to profit or loss |
15.24 | 1.80 | 17.48 | 17.04 | 19.51 | 30.88 |
| Items that will be reclassified subsequently to profit or loss Effective portion of gains/(losses) on hedging instruments in cash flow hedges |
26.30 | 212.00 | (39.40) | 238.30 | (95.58) | (162.21) |
| Income tax on ltems that will be rectasslfled subsequently to profit or loss |
(9.19) | (74.08) | 13.77 | (83.27) | 33.40 | 56.68 |
| Total other comprehensive income/(losses) | (11.28) | 134.58 | (58.18) | 123.30 | (98.51) | (163.03) |
| Total comorehenslve Income for the oerlod/vear | 832.23 | 901.19 | 600.02 | 1,733.42 | 1,296.51 | 2,638.58 |
| Paid-up equity share capital (face value~ 10 per share) Other equity |
2,710.13 | 2,706.02 | 2,699.53 | 2,710.13 | 2,699.53 | 2,703.46 11,133.80 |
| Earnings per equity share (face value per share t 10 each)* | ||||||
| Basic | 3.11 | 2.83 | 2.44 | 5.95 | 5.17 | 10.37 |
| Diluted | 3.09 | 2.81 | 2.41 | 5.90 | 5.11 | 10.26 |
| ''EPS are not annualised for the interim periods. |
Registered & Corporate Office: Plot-17, Rajiv Gandhi lnfotech Park, MIDC-SEZ, Phase-Ill, Maan, Hinjawadi, Taluka - Mulshi, Pune - 411057 Phone : +91 20 6770 [email protected] I CIN: L74999PN2018PLC174192
PART II: STANDALONE BALANCE SHEET
| ~ in million | |||
|---|---|---|---|
| Particulars | As at 30 September 2023 (Unaudited) |
As at 31 March 2023 (Audited) |
|
| A ASSETS | |||
| 1 Non-current assets | |||
| a. Property, plant and equipment | 1,716.92 | 1,723.92 | |
| b. Right-of-use assets | 910.40 | 828.97 | |
| c. Capital work-in-progress | 39.56 | 48.75 | |
| d. Other intangible assets | 966.93 | 248.53 | |
| e. intangible assets under development | - | 268.77 | |
| f. Financial assets | |||
| Investments | 9,428.77 | 8,091.46 | |
| Other financial assets | 335.24 | 329.15 | |
| g. | Income tax assets (net) | 142.01 | 130.54 |
| h. Deferred tax assets (net) | 453.99 | 556.88 | |
| i. | Other non-current assets | 18.24 | 7.98 |
| 2 | Current assets | 14,012.06 | 12,234.95 |
| a. Financial assets | |||
| Investments | 25.62 | 351.81 | |
| Trade receivables | |||
| Billed | 4,873.76 | 3,554.64 | |
| Unbilled | 525.29 | 690.58 | |
| Cash and cash equivalents | 474.20 | 713.05 | |
| Bank balances other than cash and cash equivalents above | 267.94 | 236.54 | |
| Other financial assets | 213.64 | 185.95 | |
| b. Other current assets | 289.83 | 245.97 | |
| 6,670.28 | 5,978.54 | ||
| TOTAL ASSETS | 18,213.49 | ||
| 20,682.34 | |||
| B EQUITY AND LIABILITIES Equity |
|||
| a. Equity share capital | |||
| b. Other equity | 2,710.13 12,210.13 |
2,703.46 11,133.80 |
|
| 14,920.26 | 13,837.26 | ||
| liabilities | |||
| 1 Non-current liabilities | |||
| a. Financial liabilities | |||
| Borrowings | 1.44 | 2.26 | |
| Lease liabilities | 466.04 | 431.27 | |
| Other financial liabilities | - | 93.17 | |
| b. Provisions | 426.21 | 317.35 | |
| 893.69 | 844.05 | ||
| 2 Current liabilities a. Financial liabilities |
|||
| Borrowings | 710.05 | 3.81 | |
| Lease liabilities | 175.03 | 130.04 | |
| Trade payables | |||
| (i) Total outstanding dues of micro enterprises and small enterprises | 3.29 | 3.14 | |
| (ii) Total outstanding dues of creditors other than micro enterprises and small |
1,136.57 | 506.75 | |
| enterprises | |||
| Other financial liabilities | 1,261.11 | 1,493.72 | |
| b. Other current liabilities | 1,215.01 | 1,049.54 | |
| c. Provisions | 324.88 | 274.52 | |
| d. Income tax liabilities (net) | 42.45 | 70.66 | |
| 4,868.39 | 3,532.18 |
Notes:
1 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 30 October 2023. These unaudited standalone financial results have been prepared m accordance With the IndIan Accounting Standaras (-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 and half year ended 30 September 2023. An unqualified opinion has been issued by them thereon.
| Particulars | Details of forei n exchan e ain/loss included in above results: | Half Year ended | Year ended | |||
|---|---|---|---|---|---|---|
| 30 September 2023 (Unaudited) |
Quarter ended 30 June 2023 (Unaudited) |
2022 (Unaudited) |
30 September 30 September 30 September 31 March 2023 2023 (Unaudited) |
2022 (Unaudited) |
(Audited) | |
| Foreign exchange gain (net) included in other income Forei n exchan e toss (net) Included in other ex enses |
35.96 | 91.33 | 1.86 | 55.37 | 20.12 | 186.41 |
| Particulars | Quarter ended | Half Year ended | Year ended | |||
|---|---|---|---|---|---|---|
| 30 September 2023 (Unaudited) |
30 June 2023 (Unaudited) |
2022 (Unaudited) |
30 September 30 September 30 September 31 March 2023 2023 (Unaudited) |
2022 (Unaudited) |
(Audited) | |
| Finance cost on unwinding of financial Instruments as per Ind-AS Interest expense on working capital loan, term loan and other bank |
25.88 11.22 |
25.51 12.63 |
37.40 1.14 |
51.39 23.85 |
75.93 2.20 |
138.55 8.24 |
| interest Total finance costs |
37.10 | 38.14 | 38.54 | 75.24 | 78.13 | 146.79 |
5 Where financial results contain both consolidated financial results and standalone financial results of the parent, segment informatlon Is required to be presented only in the consolidated financial results. Accordingly, segment information has been presented in the consolidated financial results.
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 listed.
7 Mr. Srinath Batni was appointed as an Additional and Independent Director of the Company, with effect from 25 July 2023. Further, the Shareholders in their 6th Annual General Meeting held on 29 August 2023, have approved his appointment as an Independent Director for a period of five years from 25 July 2023.
a Statement of Cash flows ls attached in Annexure A.
Place: Puna
Date: 30 October 202 3
St,, ..... Pre'Sident & Joint Managing Director DIN : 02918460
Registered & Corporate Office: Plot-17, Rajiv Gandhi lnfotech Park, MIDC-SEZ, Phase-Ill, Maan, Hinjawadi, Taluka - Mulshi, Pune - 411057 Phone: +91 20 6770 6000Ie:[email protected] I CIN : L74999PN2018PLC174192
ANNEXURE A: STANDALONE STATEMENT OF CASH FLOWS
| ~ in million | |||
|---|---|---|---|
| Particulars | Half vear ended | Year ended | |
| 30 September 2023 (Unaudited) |
30 September 2022 (Unaudited) |
31 March 2023 (Audited) |
|
| A CASH FLOW FROM OPERATING ACTIVITIES | |||
| Profit for the period/year | 1,610.12 | 1,395.02 | 2,801.61 |
| Adjustments for: | |||
| Tax expense | 495.29 | 425.74 | 853.92 |
| Depreciation and amortization expense | 483.14 | 442.41 | 905.17 |
| Finance costs | 74.88 | 78.13 | 146.79 |
| Interest income | {24.43) | (113.54) | (120.89) |
| Dividend income | {0.34) | (1.00) | (1.41) |
| Property, plant and equipments and other intangible assets written off Net gain on disposal of property, plant and equipments |
- | 4.88 - |
4.96 (6.70) |
| Unrealised loss/{gain) on investment carried at fair value through profit and loss (net) | (0.18) (10.10) |
{4.20) | 25.68 |
| Realised gain on investment carried at fair value through profit and loss | (2.93) | (18.34) | (59.54) |
| Provision for doubtful debts and advances (net) | 33.13 | 26.50 | 38.91 |
| Bad debts written off | - | 1.02 | 7.18 |
| Share based compensation expenses | 23.99 | 29.62 | 60.12 |
| Net unrealised foreign exchange (gain)/loss (net) | 81.21 | 6.56 | (46.13) |
| Gain on sale of investment in an associate | - | {16.60) | (16.60) |
| Others | (0.55) | (7.18) | (7.18) |
| Operating profit before working capital changes | 2,763.23 | 2,249.02 | 4,585.89 |
| Adjustments for changes in working capital: | |||
| Trade receivables | (1,272.51) | (633.15) | (1,575.90) |
| Other financial assets and other assets | 97.81 | (211.22) | (15.27) |
| Trade Payables Other financial liabilities, other liabilities and provisions |
630.41 | 17.44 (214.72) |
(69.13) (243.86) |
| Cash generated from operations | 41.64 2,260.58 |
1,207.37 | 2,681.73 |
| Income taxes paid (net) | (498.27) | {267.09) | (642.65) |
| Net cash generated from operating activities (A) | 1,762.31 | 940.28 | 2,039.08 |
| B CASH FLOW FROM INVESTING ACTIVITIES | |||
| Purchase of property, plant and equipment and intangible assets | (893.03) | (626.27) | (1,117.39) |
| Proceeds from sale of property, plant and equipment | 0.21 | - | 13.46 |
| Investment in subsidiaries | (1,337.31) | (332.21) | {4,050.95) |
| Proceeds from sale of investment in an associate | - | 19.13 | 19.13 |
| Investment in mutual fund | (1,415.00) | (1,740.00) | (5,170.00) |
| Proceeds from sale of investment in mutual fund | 1,747.91 | 1,734.82 | 5,846.25 |
| Proceed from sale of investments carried at fair value through profit and loss | 6.31 | 5.46 | 10.29 |
| Interest received | 14.42 | 100.55 | 186.94 |
| Dividend received Fixed deposits with banks (net) having original maturity over three months |
- | - | 0.41 |
| (11.23) | 740.43 | 3,805.01 | |
| Net cash used in investing activities (B) | (1,887.72) | (98.09) | (456.85) |
| C CASH FLOW FROM FINANCING ACTIVITIES | |||
| Repayment of long term loan from banks | (2.04) | (1.88) | (3.83) |
| Repayment of long term loan from other than banks Payment of lease liabilities |
- | (15.00) | {15.00) |
| Proceeds from working capital loan | (96.29) | (100.35) | (188.14) |
| Repayment of working capital loan | 3,592.13 (2,884.12) |
542.86 (542.86) |
962.48 (962.48) |
| Payments for shares purchased by Employee Welfare Trust | - | (228.43) | (228.43) |
| Proceeds from shares issued by Employee Welfare Trust | 14.73 | 6.81 | 17.28 |
| Dividend paid | (717.63) | (499.83) | (891.63) |
| Interest and finance charges paid | {23.86) | {3.11) | (9.13) |
| Net cash used in financing activities (C) | (117.08) | (841.79) | (1,318.88) |
| D Exchange differences on translat ion of foreign currency cash and cash equivalents | 3.64 | (16.66) | (8.87) |
| Net increase/(decrease) In cash and cash equivalents (A + B + C + D) | (238.85) | (16.26) | 254.48 |
| Cash and cash equivalents at close of the period/year | 474.20 | 442.31 | 713.05 |
| Cash and cash equivalents at beginning of the period/year | 713.05 | 458.57 | 458.57 |
| Cash surplus/(deficit) for the period/ year | (238.85) | (16.26) | 254.48 |
BS R & Co. LLP
Chartered Accountants
8th floor, Business Plaza Westin Hotel Campus 36I3-B, Koregaon Park Annex Mundhwa Road, Ghorpadi Pune - 411 001 , India Telephone: +91 (20) 6747 7300 Fax: +91 (20) 6747 7100
Limited Review Report on unaudited standalone financial results of KPIT Technologies Limited for the quarter ended 30 September 2023 and year to date results for the period from 1 April 2023 to 30 September 2023 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
-
- We have reviewed the accompanying Statement of unaudited standalone financial results of KPIT Technologies Limited (hereinafter referred to as "the Company") for the quarter ended 30 September 2023 and year to date results for the period from 1 April 2023 to 30 September 2023 ("the Statement") (in which are included interim financial information from an ESOP trust).
-
- This Statement, which is the responsibility of the Company's management and approved by its 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, as amended ("Listing Regulations"). Our responsibility is to issue a report on the Statement based on our review.
-
- 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.
-
- 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 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.
-
- The Statement includes the interim financial information of an ESOP Trust which has no! been reviewed, whose interim financial information reflects total assets (before consolidation adjustments) of Rs. 639.81 million as at 30 September 2023 and total revenues (before consolidation adjustments) of Rs. Nil and Rs. Nil, total net profit after tax (before consolidation adjustments) of Rs. 10.67 million and Rs. 14.90 million and total comprehensive income (before consolidation adjustments) of Rs. 10.67 million and Rs 14.90 million, for the quarter ended 30 September 2023 and for the period from 1 April 2023 to 30 September 2023 respectively, and cash flows (net) (before consolidation adjustments) of Rs 37.40 million for the period from 1 April 2023 to 30 September 2023. as considered in the Statement. According to the information and explanations given to us by the management, this interim financial information is not material to the Company.
BS R & Co (a: partnership firm with RegiStralion No BA61223) convened Into BS R & Co. LLP (a Limited Uabtlrty Par1nershlpwilh LLP Registration No AAS-8181) with effect from October 14, 2013
14th FIOOr, Central 8 ~ and North C Wng, Center, !Vestem Express Highway, Goregaon (East), Mumbai • 4000el Page 1 of 2
Registered Office·
Limited Review Report (Continued) KPIT Technologies Limited
Our conclusion is not modified in respect of this matter.
For BS R & Co. LLP
Chartered Accountants Firm's Registration No.: 101248W/W-100022
Swapnil Dakshindas Partner Membership No.: 113896 UDIN:23113896BGYESX8491
Pune 30 October 2023
Page 2 of 2
October 30, 2023
To, National Stock Exchange of India Limited Exchange Plaza, C/ 1, G Block, Sand ra - Kurla Complex, Sandra (E), Mumbai - 400051.
Symbol: KPITTECH Series: EQ
Kind Att : The Manager, Listing Department
Sub·ect: - Un-audited financial results of KPIT Technologies Li mited ("the Company") for the quarter and half-year ended September 30, 2023.
Dear Sir/ Madam,
With reference to the captioned subject, we wish to submit that there is a difference of Rs. 31.31 million in the paid-up equity share capital of the Company as reported in the shareholding pattern submitted for the quarter ended September 30, 2023 (Rs. 2,741.43 million) and un-audited f inancial results for the relevant quarter ended September 30, 2023 (Rs. 2,710.12 m illion) on account of elim ination of shares held by KPIT Technologies Employees Welfare Trust (the "Trust'' as the Company consolidates the financials of the Trust. The Trust holds 3.13 million equity shares in the Company (total face value of Rs. 31.31 million at Rs. 10/ - per share) as on September 30, 2023.
Request you to please take note of the same.
Thanking you.
Yours faithfully,
For KPIT Technologies Limited
JJ
Nida Deshpande Company Secretary & Compliance Officer

0 +91 20 6770 6000 E [email protected] W kpit.com
KP 11·