KPIT Technologies Ltd — Regulatory Filings 2024

Jul 24, 2024

July 24, 2024

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

Dear Sir / Madam,

Subject: - Outcome of the Board Meeting held on Wednesday, July 24, 2024. Ref:- Disclosure of events & information pursuant to Regulation 30 SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Time of Commencement of the Board Meeting: 9.15 am 1ST. Time of Conclusion of the Board Meeting: 12:45 pm 1ST.

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

A. Un-audited Consolidated Financial Results and Standalone Financial Results for the quarter ended June 30, 2024.

An unqualified opinion has been issued by the Statutory Auditor on said Financial Results.

B. Merger of Future Mobility Solutions GmbH ("FMS") with KPIT Technologies GmbH, wholly owned step-down subsidiaries of KPIT Technologies Limited ("KPIT India").

FMS operations have been fully integrated with KPIT now. This integration has enabled joint go-to-market, enhanced the delivery capabilities and enabled the employees of FMS to fully understand and participate in the larger KPIT ecosystem and reap the benefits of the established processes and systems of KPIT. Thus, this merger will further aid seamless collaboration within the teams and open up new larger opportunities with enhanced roles and responsibilities to the employees and at the same time boost leverage the systems, processes & tools for a seamless operating experience.

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"

C. Further acquisition of 13% shareholding in N-Dream AG (N-Dream) to take the total shareholding of KPIT to 26% in N-Dream, a Cloud based Game Aggregation Platform company, based in Switzerland, with an option to increase the shareholding furthe

The details of disclosure pursuant to Schedule Ill of the Listing Regulations r with SEBI Circular dated July 13, 2023, are enclosed as "Annexure-B"

KPIT Technologies Ltd. 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 ?O G77U 6000 E info(t'J1kp1tcrm W kp,t.corn

Un-audited Consolidat ed Financial Results and Standalone Financial Results for the quarter ended June 30, 2024, along with Lim ited Review Repo rts t hereon and Invest or Update are being sent separately.

Kind ly take the same on you r records.

Thanking you.

Yours faithfu lly,

For KPIT Technologies Lim ited

~

Nida Deshpande Company Secretary & Compliance Office

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

Annexure A

Sr.	Particulars			Details
No.	name of the entity(ies) forming part of the amalgamation/ merger, details in brief such as, size, turnover etc.		Merger of Future Mobility Solutions GmbH ("FMS") (Subsidiary Company) w ith KPIT Technologies GmbH ("KPIT GmbH") (Hold ing Company). FMS:-
			wholly step-down owned FMS is a German subsidiary of KPIT India, w ith average employee strength of 99. It is engaged in Software and Feature Development Autonomous in Driving, ADAS Vehicle Safety and Integration & Validation. It is headquartered in Gaimersheim, Germany and has an office in Frankfurt, Germany. Date of Incorporation: September 15, 2016.
			KPIT GmbH:-
			of KPIT India, w the Mobility Industry. It is headquartered in Munich, Germany. Date of Incorporation: December 12, 2005	KPIT GmbH is wholly owned step-down su bsidiary ith average employee strength of 426, engaged in Embedded Software Solutions for
		SL	Name of Entity	Turnover as on March 31, 2024
		1	KPIT GmbH	Eu ro 99.17 million
		2	Mobility Future Solutions GmbH	Eu ro 8.7 m illion
2	whether the transaction would fall w ithin related party transactions? If yes,			Merger of Future Mobility Solutions GmbH ("FMS") with KPIT Technologies GmbH, wholly owned step down subsidiaries of KPIT Technologies Limited
	whether the same is done at "arm's lengt h";		("KPIT India")
3	-- area of business of the ___ entity(ies) _		--- Software Embedded --''----- Industry.	Mobility for the Solut ions

KPIT Technologies Ltd. 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 lnfo@kpit.com

W kpit.com

4	rationale fo r amalgamation/ merger	FMS operations have been fu lly integrated w ith KPIT has enabled joint go-to now. This integration market, enhanced the delivery capabilities and enabled the employees of FMS to fully understand and participate in the larger KPIT ecosyst em and reap the benefits of t he established processes and systems of KPIT. Thus, this merger will fu rther aid seamless collaboration w ith in the teams and open up new larger opportunit ies w ith enhanced roles and responsibilities t o the employees and at the same t ime boost leverage the systems, processes & tools for a seamless operating experience.
5	in case of cash amount consideration - or otherwise share exchange ratio	Not Applicable
6	brief details of change in shareholding pattern (if any) of listed entity.	There will be no change in Shareho lding Pattern of KPIT India due to th is merger.

An nexure B

Sr. No.	Particulars	Details
1	Name of the target entity, brief such details in as size, turnover etc.	N-Dream AG, a Cloud based Game Aggregation Platform company based in Switzerland. Turnover CHF 3.38 m illion as on December 31, 2023.
2	Whether the acquisition would fall w it hin related party transact ion(s) and whether the promoter/ group/ promoter group compan ies any have interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same Is done at "arm's length"	This is a Related Party Transaction at arm's length. of init ial Acquisit ion 13% shareholding was completed on December 5, 2023. Promoter/ Promoter Groups/ Group Companies do not have any interest in N- Dream. None of the KPIT directo rs have any interest in N Dream.
3	Industry to which the entity acquired being belongs	N-Dream is an early mover into the In-car gaming offering proven space a Cloud based Game Aggregation Platform including data, to Automotive OEMS.
4	effects of Objects and acqu isition (including but not limited to, disclosure of reasons for acqu isition its if of target entity, outs ide the business is	This strategic investment in N- Dream is part of Automotive roadmap enable KPIT's t o OEMs enhance the driver & passenger experience in the 0 w ill of offer the Cockpit Fut ure. KPIT - complementary software int egration & validatiorY,: ~ c,l\OO/o~ services to N-_9ream's Automotive clients. Bo 1W ~

KPIT * ~\ Technologies Ltd. Registered & Corporat e Office: Plot No. 17, Raj iv Gandhi lnfotech Park, MIDC-SEZ, Phase-Ill, Maan, Taluka-Mulshi, Hinjawadi, Pune - 411057, India. CIN: L74999PN2018PLC174192

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5 6 7 8 9 10 main line of business of the listed entity) Brief details of any governmental regulatory requ ired acqu isition or approvals for the parties w ill collabo rate towards offeri ng valueadded dat a products for Automotive OEMs, thereby enabling them t o create add it ional monetizable experiences & features. N.A. Indicative time period for Acqu isit ion of further 13% shareholding w ill be completion of the completed by August 20, 2024 . acqu isit ion Consideration - whether 100% Cash Consideration cash consideration or share swap or any other form and details of the same Cost of acqu isit ion and/or the price at wh ich the shares are acquired Investment by KPIT to acqu ire further 13% stake is Euro 3 million. Percentage of Post Acquisition KPIT India w ill be holding 26% of sharehold ing / control shares of N- Dream w ith an option to increase acqu ired and / or number sharehold ing over a period of t ime. of shares acqu ired Bri ef background about the entity acqu ired in terms of products/line of business acqu ired, date of N-Dream's Cloud based in-car Game Aggregation Platform offers an array of casual game genres, including edutainment, racing & sports. incorporation, history of Date of Incorporation: October 18, 2013. last 3 years turnover, country in w hich the acqu ired entity has presence and any other signif icant information (in brief). Turnover for last 3 years: CHF 3.38 million as on March 31, 2023 CHF 1.99 m illion as on December 31, 2022. CH F 0.865 m illion as on December 31, 2021. -Dream, is a Cloud based Gaming Aggregation Platform company based in Zu ri ch, Switzerland . __________ _.___l_t_h_a_s curren t employee strength of 14 emplo ees.

***

KPIT Technologies Ltd. 0 +91 20 6770 6000 ^Einfo@kpit.com Registered & Corporate Office: Plot No. 17, Rajiv Gandhi lnfotech Park, MIDC-SEZ, Phase- Ill, Maan, Taluka-Mulshi, Hinjawadi, Pune-411057, India. GIN: L74999PN2018PLC174192 W kpit.com

KP 11·

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 6000Igrievances@kpit.com I www.kpit .com I GIN: L74999PN2018PLC174192 PART I: STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE 2024
Particulars		31 March 2024	30 June 2023	31 March 2024
	30 June 2024 (Unaudited)	(Audited) (Refer note 7)	(Unaudited)	(Audited)
Revenue from operations	13,646.30	13,178.00	10,976.22	48,715.41
Other income : Net unrealised gain on investments carried at fair value through profit and loss	1.37	7.39	2.79	32.94
Bank interest, dividend income and realised gain on mutual fund investments	39.56	30.64	25.74	92.92
Others (Refer note 3, 4 and 5)	503.51	128.31	186.55	476.81
Total income	14,190.74	13,344.34	11,191.30	49,318.08
Expenses
Cost of materials consumed Changes in inventories of finished goods and work-in-progress	10.37 68.56	308.66 (1 51 .57)	139.18 (67.83)	719.96 (136.35)
Employee benefits expense	8,743.65	8,327.96	7,135.43	31 ,1 20.25
Finance costs	127.31	117.94	137.10	548.25
Depreciation and amortisation expense	525.14	526.97	450.44	1,957.93
Other expenses (Refer note 3)	1,942.12	1,964.20	1,630.64	7,098.28
Total expenses	11,417.15	11,094.16	9,424.96	41,308.32
of profit/(loss) Profit before share of equity accounted investees and tax	2,773.59	2,250.18	1,766.34	8,009.76
Share of profit/(loss) of equity accounted investees (net of tax) Profit before tax	(6.62) 2,766.97	(5.37) 2,244.81	- 1,766.34	(5.37) 8,004.39
Tax expense (Refer note 5(b))
Current tax	998.29	657.93 (72.31)	638.17 (216.22)	2,379.01 (359.75)
Deferred tax (benefit)/charge Total tax expense	(272.92) 725.37	585.62	421.95	2,019.26
Profit for the period/year	2,041.60	1,659.1 9	1,344.39	5,985.13
Other comprehensive income
Items that will not be reclassified subsequently to profit or loss Remeasurements of defined benefit plans - gain/(loss) Income tax on items that will not be reclassified subsequently to profit or loss	(9.13) 3.26	(5.66) 2.06	(4.21) 1.55	(48.95) 18.63
Items that will be reclassified subsequently to profit or loss Exchange differences on translation of financial statements of	(141.93)	(190.35)	(56.78)	80.81
foreign operations Effective portion of gains/(losses) on hedging instruments in cash flow hedges	80.64	170.11	215.71	212.57
Income tax on items that will be reclassified subsequently to	(28.18)	(59.45)	(75.01)	(73.87)
profit or loss Total other comprehensive income/(losses)	(95.34)	(83.29)	81.26	189.19
Total comprehensive income for the period/year	1,946.26	1,575.90	1,425.65	6,174.32
Profit attributable to
Owners of the Company	2,041.60	1,643.50	1,339.98	5,945.33
Non-controlling interests	-	15.69	4.41	39.80
Profit for the period/year	2,041.60	1,669.19	1,344.39	6,986.13
Other comprehensive income/ (losses) attributable to Owners of the Company	(95.34)	(83.47)	80.61	186.19
Non-controlling interests	-	0.1 8	0.65	3.00
Other comprehensive income/ (losses) for the period/year	(95.34)	(83.29)	81 .26	189.19
Total comprehensive income attributable to
Owners of the Company	1,946.26	1,560.03	1,420.59	6,1 31 .52
Non-controlling interests	-	15.87	5.06	42.80
Total comprehensive income for the period/vear	1,946.26	1,575.90	1,425.65	6,174.32
Paid-up equity share capital (face value of f 10 per share) Other equity	2,713.54	2,712.17	2,706.02	2,712.17 18,746.41
Earnings per equity share (face value of f 10 per share)*
Basic	7.53	6.06	4.95	21.95
Diluted	7.47	6.02	4.91	21 .77
*EPS are not annualised for the interim periods.

Registered & Corporate Office: Plot-17, Rajiv Gandhi lnfotech Park, MIDC-SEZ, Phase-I ll, Maan, Hinjawadi, Taluka - Mulshi, Pune - 411057 Phone : +91 20 6770 6000 I grievances@kpit.com I www.kpit.com I CIN : L74999PN2018PLC174192
	PART II: SEGMENT WISE REVENUE, RESULTS, ASSETS AND LIABILITIES
					r in million
Sr	Particulars		Quarter ended		Year ended
No		30 June 2024 (Unaudited)	31 March 2024 (Audited) (Refer note 7)	30 June 2023 (Unaudited)	31 March 2024 (Audited)
1	Segment revenue
	Americas	3,945.30	3,915.68	3,824.64	15,441.19
	UK & Europe	7,288.33	7,227.88	5,814.49	26,381.36
	Rest of the World	6,611.49	6,263.89	5,029.93	22,846.89
	Total	17,845.12	17,407.45	14,669.06	64,669.44
	Less : Inter segment revenue	4,198.82	4,229.45	3,692.84	15,954.03
	Revenue from operations	13,646.30	13.178.00	10 976.22	48 715.41
2	Segment results
	Americas	1,000.95	1,073.99	1,215.81	4,501.35
	UK & Europe	1,702.92	1,760.56	827.36	5,310.98
	Rest of the World
		1,062.35	910.49	639.37	3,115.38
	Total	3,766.22	3,745.04	2,682.54	12,927.71
	Less:
	Fin ance costs	127.31	117.94	137.10	548.25
	Other unallocable expenditure (n et of unallocable	865.32	1,376.92	779.10	4,369.70
	income) Profit before share of profit/ (loss) of equity				8,009.76
	accounted investees and tax	2,773.59	2,250.18	1,766.34
	Share of profit /(loss) of equity accounted investees (net of tax)	(6.62)	(5.37)	-	(5.37)
	Profit before tax	2,766.97	2,244.81	1,766.34	8,004.39
3	Segment assets
	Americas	2,953.62	2,697.84	2,382.07	2,697.84
	UK & Europe	5,317.01	5,333.26	5,153.82	5,333.26
	Rest of th e World	988.02	1,531.60	810.89	1,531.60
	Total	9,258.65	9,562.70	8,346.78	9,562.70
	Unallocated assets	34,842.65	32,116.26	28,158.11	32,116.26
	Total assets	44,101.30	41,678.96	36,504.89	41,678.96
4	Segment liabilities
	Americas	192.18	213.41	127.52	213.41
	UK & Europe	3,446.30	3,619.69	2,200.40	3,619.69
	Rest of the World	995.79	899.46	799.21	899.46
	Total	4,634.27	4,732.56	3,127.13	4,732.56
	Unallocated liabilities	15,744.96	15,316.73	15,214.80	15,316.73
	Total liabilities	20,379.23	20,049.29	18,341.93	20,049.29

liabilities (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 period/year to acquire property, plant and equ ipment and intangible assets, depreciation/amortisation and non - cash expenses are not attributable to any reportable segment.

Notes:

• 1 The above unaudited consolidated f inancial results have been reviewed by the Aud it Committee and thereafter approved and taken on record by the Board of Directors in their meetings held on 24 July 2024. These unaudited consolidated financial results have been prepared in accordance with the Indian Accounting Standards ("Ind-AS") as per the Companies (Indian Accounting Standards) Rules, 2015, as amended from t ime to t ime, notified under section 133 of the Companies Act, 2013 ("Act") and other relevant provisions of the Act.
• 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 ended 30 June 2024. An unqualified review conclusion has been issued by them t hereon.

3	Details of foreign exchange gain/ loss included in above results:
	Particulars		Quarter ended		Year ended
		30 June 2024 {Unaudited)	31 March 2024 (Audited) (Refer note 7)	30 June 2023 (Unaudited)	31 March 2024 (Audited)
	Foreign exchange gain (net) included in other income	81.99	66.46		167.72
	Foreign exchange loss (net) included in other expenses			61.32

4 Effective 1 Apri l 2023, the Group had acquired the balance stake of 75% in FMS Future Mobility Solutions GmbH, Germany (FMS) t hrough KPIT Technologies GmbH, a wholly owned step down subsidiary of the Company. Pursuant to t his KPIT Technologies GmbH now holds 100% stake in FMS.

In line wit h IND-AS 103, Business Combinations, the Group had remeasured its previously held equity interest in FMS at the acquisition date fair value. Accordingly, t he Group had recognised a gain of ~ 134.13 million during the quarter ended on 30 June 2023.

5 During the current quarter, ZF Friedrichshafen AG ("ZF") has invested EURO 1.35 million in Qorix GmbH, a wholly owned subsidiary of KPIT Technologies Limited (KPIT), based on definitive terms of the Joint Venture Agreement entered into by KPIT and ZF to make an independent company focused on the creation of worldclass automotive middleware stack. Conseq uently, Qorix GmbH is now a Joint Venture Company of KPIT and ZF having 50:50 ownership. ZF has further invested EURO 13.65 m illion till date and assigned its relevant IP into Qorix GmbH.

Qorix GmbH now being a Joint Venture Company, KPIT does not have majority control in Qorix and thereby, as per the provisions of the applicable Ind-AS, has:

• a. derecognised the assets and liabilities of Qorix GmbH and recognised the resulting one-time gain of t 199.07 million under "Other income" in the consolidated statement of profit and loss account;
• b. recognised a one-time gain of ~ 197.22 million on transfer of IPs to Qorix GmbH under "Other income" in the consolidated statement of profit and loss account, along w ith the related tax expense of~ 68.92 million under "Tax expense".
• 6 The consolidated results of the Company are available on the Company's we bsite, www.kpit.com and also on the website of the BSE Limited, www.bseind ia.com and National Stock Exchange of India Limited, www.nseindia.com, where the shares of the Company are listed.
• 7 The figures for the quarter ended 31 March 2024 as reported in these financial results, are the balancing figures between the audited figures in respect of the full f inancial year and unaudited published year to date figures upto the end of the third quarter of the relevant financial year.

Place: Pune Date: 24 Jul 2024 For and on behalf of the Board of Directors of KPIT TECHNOLOGIES LIMITED at.,('// C & Managing Director DIN: 00076190 President & Joint Managing Director DIN: 02918460

BS R & Co. LLP

Chartered Accountants

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Limited Review Report on unaudited consolidated financial results of KPIT Technologies Limited for the quarter ended 30 June 2024 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 (hereinafter referred to as "the Parent"), and its subsidiaries (the Parent and its subsidiaries together referred to as "the Group") and its share of the net loss after tax and total comprehensive loss of its associate and joint venture for the quarter ended 30 June 2024 ("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").
• 1. 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.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 241 O "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.

• 1. The Statement includes the results of the entities mentioned in Annexure I to the Statement.
• 1. Attention is drawn to the fact that the figures for the three months ended 31 March 2024 as reported in the Statement 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.

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14th Floor, Central B l,,\Rng and North C VVing, Nesco IT Park 4, Nesco Cente r, Western Express Highway, Goregaon (East}, Mumbai• 400063 Page 1 of 4

Limited Review Report (Continued)

KPIT Technologies Limited

1. 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.

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Page 2 of 4

Limited Review Report (Continued) KPIT Technologies Limited

Annexure I

Sr. No Name of component Relationship 1 KPIT Technologies (UK) Limited Subsidiary 2 KPIT (Shanghai) Software Technology Co. Limited Subsidiary 3 KPIT Technologies Netherland B.V. Subsidiary 4 KPIT Technologies GmbH Subsidiary 5 KPIT Technologias Ltda. Subsidiary 6 Microfuzzy lndustrie-Elektronic GmbH Subsidiary 7 KPIT Technologies Limited GK Subsidiary 8 KPIT Technologies Inc. Subsidiary 9 KPIT Technologies Holding Inc. Subsidiary 10 ThaiGerTec Co., Limited Subsidiary 11 PathPartner Technology Private Limited Subsidiary 12 PathPartner Technology Inc. Subsidiary 13 Path Partner Technology GmbH Subsidiary 14 Somit Solutions (UK) Limited Subsidiary 15 Samit Solutions Inc. Subsidiary 16 KPIT Technologies S.A.S Subsidiary 17 Technica Engineering GmbH Subsidiary 18 Technica Electronics Barcelona, S.L. Subsidiary 19 Technica Electronics Spain S.L. Subsidiary 20 Technica Engineering Inc. Subsidiary

List of entities included in unaudited consolidated financial results.

Limited Review Report (Continued) KPIT Technologies Limited

21	FMS Future Mobility Solutions GmbH	Subsidiary
22	KPIT Technologies Employee Welfare Trust (ESOP Trust)	Subsidiary
23	Qorix India Private Limited	Subsidiary of Joint venture
24	Qorix GmbH	Joint Venture
25	N Dream AG (with effect from 05 December 2023)	Associate

Page 4 of4

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 erievances(ci)kpit.com I www.kpit.com I CIN: L74999PN2018PLC174192

PART I: STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE 2024

				r in million (excer,t per share data)
Particulars		Quarter ended		Year ended
	30 June 2024 (Unaudited)	31 March 2024 (Audited) (Refer note 8)	30 June 2023 (Unaudited)	31 March 2024 (Audited)
Revenue from operations	5,684.36	5,462.15	4,449.55	20,166.02
Other income: Net unrealised gain on investments carried at fair value through profit and loss		2.62	2.79	23.98
Ban k interest, dividend income and realised gain on mutual fund investments	16.07	18.81	12.14	55.24
Others (Refer note 3 & 4) Total Income	47.16 5,747.59	456.64 5,940.22	8.50 4,472.98	606.91 20,852.15
Expenses
Cost of materials consumed	0.57	-	-	-
Employee benefits expense	3,614.45	3,436.77	2,674.01	12,411.12
Finance costs	41.53	25.57	38.14	145.54
Depreciation and amortization expense Net loss on investments carried at fair value through profit and loss	287.87	283.94 -	228.72 -	1,028.54 -
Other expenses (Refer note 3)	1.66 817.37	1,020.19	536.41	2,886.48
Total expenses	4,763.45	4,766.47	3,477.28	16,471.68
Profit before tax	984.14	1,173.75	995.70	4,380.47
Tax expense
Current tax	276.37	264.63	251.25	1,085.31
Deferred tax (benefit)/charge	(45.10)	92.07	(22.16)	26.88
Total tax expense	231.27	356.70	229.09	1,112.19
Profit for the period/year	752.87	817.05	766.61	3,268.28
Other comprehensive income Items that will not be reclassif ied subsequently to profit or loss
Remeasurements of defined benefit plans - gain/(loss)	(1 0.10)	(6.24)	(5.14)	(64.36)
Income tax on items that will not be reclass ified subsequently to profit or loss	3.53	2.18	1.80	22.49
Items that will be reclassified subsequently to profit or loss Effective portion of gains/(losses) on hedging instruments in cash flow hedges	80.64	170.14	212.00	208.37
Income tax on items that will be reclassified subsequently to profit or loss	(28.18)	(59.45)	(74.08)	(72.81)
Total other comprehensive lncome/(losses)	45.89	106.63	134.58	93.69
Total comprehensive income for the period/year	798.76	923.68	901.19	3,361.97
Paid-up equity share capital (face value of ~ 10 per share) Other equity	2,713.54	2,712.17	2,706.02	2,712.17 13,308.28
Earnings per equity share (face value of f 10 per share)*
Basic	2.78	3.01	2.83	12.06
Diluted	2.76	2.99	2.81	11.97
*EPS are not annualised for the interim periods.

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 24 July 2024. These unaudited standalone f inancial results have been prepared in
	accordance with the Indian Accounting Standards ("Ind-AS") as per the Companies (Indian Accounting Standards) Rules, 2015, as amended
	from time to t ime, notified under section 133 of the Companies Act, 2013 ("Act") and other relevant provisions of the Act.

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 2024. An unqualified review conclusion has been issued by them thereon.

Details of forei n exchan e ain/loss included in above results:
Particulars		Quarter ended		Year ended
	30 June 2024 (Unaudited)	31 March 2024 (Audited) (Refer note 8)	30 June 2023 (Unaudited)	31 March 2024 (Audited)
Foreign exchange gain (net) included in other income	44.66	47.34		183.95
Foreign exchange loss (net) included in other expenses			91 .33

• 4 The figures for the quarter and year ended 31 March 2024, included a one-time gain of ~ 394.44 million on sale of asset to its wholly owned subsidiary as at that date.
• 5 During the current quarter, ZF Friedrichshafen AG ("ZF") has invested EURO 1.35 million in Qorix GmbH, a wholly owned subsidiary of KPIT Technologies Limited (KPIT), based on definitive terms of the Joint Venture Agreement entered into by KPIT and ZF to make an independent company focused on the creation of worldclass automotive middleware stack. Consequently, Qorix GmbH is now a Joint Venture Company of KPIT and ZF having 50:50 ownership. ZF has further invested EURO 13.65 million till date and assigned its relevant IP into Qorix GmbH.
• 6 Where financial results contain both consolidated f inancial 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.
• 7 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.
• 8 The figures for the quarter ended 31 March 2024 as reported in these financial results, are the balancing figures between the audited f igures 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.

	For and on behalf of the Board of Directors of KPIT TECHNOLOGIES LIMITED
		hl"TlkeW ~ tsident & Joint Managing Director
Place: Pune	CEO & Managing Director
Date: 24 Jul 2024	DIN : 00076190	DIN: 02918460

Chartered Accountants

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Limited Review Report on unaudited standalone financial results of KPIT Technologies Limited for the quarter ended 30 June 2024 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 standalone financial results of KPIT Technologies Limited (hereinafter referred to as "the Company") for the quarter ended 30 June 2024 ("the Statement") (in which are included interim financial information from an Employee Stock Option Plan (ESOP) trust).
• 1. 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.
• 1. 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.
• 1. Attention is drawn to the fact that the figures for the three months ended 31 March 2024 as reported in the Statement 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.
• 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 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

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Limited Review Report (Continued) KPIT Technologies Limited

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July 24, 2024

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

Symbol: KPITTECH Series: EQ

Kind ttn: The Manager, Listing Department

Subject: - Un-Audited financial results of KPIT Technologies Limited ("the Company") for the quarter ended June 30, 2024.

Dear Sir / Madam,

With reference to t he captioned subject, we wish to submit that there is a difference of Rs. 27.89 million in the paid- up equity share capital of the Company as reported in the shareholding pattern submitted for the quarter ended June 30, 2024 (Rs. 2,741.43 million) and audited financial results for the quarter ended June 30, 2024 (Rs. 2,713.54 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 2.78 million equity shares in the Company (total face value of Rs. 27.89 m illion at Rs. 10/- per share) as on June 30, 2024.

Request you to please take note of the same.

Thanking you.

Yo u r s faithfully,

KPIT Technologies Ltd. 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