October 23, 2024

Investor Update
Q2 FY25
KPIT Technologies Ltd.
 Forward Looking Statements
Some of the statements in this update that are not historical facts, are forward-looking
statements. These forward-looking statements include our financial and growth
projections, as well as statements concerning our plans, strategies, intentions and beliefs
concerning our business and the markets in which we operate. These statements are
based on information currently available to us, and we assume no obligation to update
these statements as circumstances change. There are risks and uncertainties that could
cause actual events to differ materially from these forward-looking statements. These
risks include, but are not limited to, the level of market demand for our services, the
competitive market for the type of services and solutions that we offer, market conditions
that could cause our clients to reduce their spending for our services, our ability to create,
acquire and build new businesses and to grow our existing businesses, our ability to
attract and retain qualified personnel, currency fluctuations and market conditions in
India and elsewhere around the world, and other risks not specifically mentioned herein
but those that are common to industry. In certain cases, the numbers reported in this
update might be rounded off to the nearest whole number.

10/23/2024 2
Performance
Overview
Q2FY25

Reimagining Mobility with YOU

 Performance Overview
11 M
Revenue
Reported $ Revenue growth of 19.3% Y-o-Y
Growth led by Middleware and Powertrain

Q2FY25 CC
Q2FY25 Net Profit at ₹ 2,037 M
Revenue grows 2 Net Profit 44.7% (incl one-time gain) growth in profit Y-o-Y
20.1% Y-o-Y

Q2FY25 Profit
Q2FY25 EBITDA at 20.8%
(PAT) grows 3 EBITDA Y-o-Y EBITDA growth of 27.7%
23.9%* Y-o-Y

Wins and $ 207M worth engagements closed in the quarter

4 Pipeline Healthy Pipeline level across practices

*Excluding one-time gain in Q2FY25 10/23/2024 4

Performance Highlights
Net Profit Working (₹ million) Q2FY25 Q2FY24 Q1FY25 Growth (Y-o-Y) Growth (Q-o-Q)
Reported Profit 2,037 1,409 2,042 44.7% (0.2)%
One-time Income 450 - 396 - -
Tax on above item 157 - 69 - -
Profit excluding one-time impact 1,744 1,409 1,715 23.9% 1.7%

Q-o-Q CC growth of 4.7% and reported $ growth of 5.0%.

01 Growth led by Asia and Passenger Cars.

02 EBITDA margins stood at 20.8% despite full quarter impact

of wage hikes and one-month additional ESOP cost, mainly
due to productivity improvement and fixed cost leverage.

03 Other income was lower as compared to last quarter due

to conversion losses on Euro and Yen denominated assets
and liabilities. ETR was in-line with our annual outlook.
Net Cash Balance at the end of the quarter stood at ₹ 9.68
04 billion, post M&A related payouts and dividend payout. DSO
at the end of the quarter stood at 45 Days.

10/23/2024 5
 Additional facts - timeseries
Revenue $ Million Consistent Performance
173
159 165
145 149
134
124
110
84 87 90
94 17 Consecutive Quarters
77 77 77 77 80
71 73 65 65 70
74 of Steady Revenue Growth

EBITDA ₹ Billion

2.7 2.9 3.1

2.4 2.6
2.2
1.9
1.4
1.7 17 Consecutive Quarters
1.2 1.2 1.3
0.9 1.0 1.0 of Steady EBITDA Growth
0.6 0.7 0.7 0.7 0.8 0.7 0.7 0.8

10/23/2024 6
Management Quotes
Kishor Patil, Co-founder, CEO and MD, KPIT said,” We are happy to have delivered yet
another quarter of well-balanced growth. The Mobility Industry, specifically the Automotive
sub vertical, has been under pressure to keep up with the changing regulations, reduce
cost of vehicles and meet demands of the ever-changing consumer preferences in recent
times. We continue to prioritize investments in technology and markets ahead of demand
to help our T25 clients stay on the cutting edge of technology and competitiveness, basis
which, we reiterate our revenue growth and profitability outlook for the full year. We have
taken an enabling board resolution for fund-raising in view of some of the strategic
opportunities that are on the horizon. The actual fund raise will happen only when some of
these potential prospects are in advanced stages of discussion.”

Sachin Tikekar, Co-founder and Joint MD, KPIT said,” In anticipation of changes in the
Mobility Industry, we have doubled down our efforts to help our T25 clients reduce the
cost of their vehicles and cut the time to market in the areas of software and system
integration. Our investments in Trucks and Off-Highway sub-verticals are on track to
expand market opportunities for us in the mid-term. The efforts on broad-basing growth
within our T25 clients are showing promising results. Overall, we have had robust wins
during the quarter. Our attrition remains at the lowest level for us, while we commit to
further investments in competency and leadership development. We are reaching all
milestones concerning the goals set up towards Sustainability, in line with our Vision of
making Mobility cleaner, safer and smarter.”

10/23/2024 7
Cash Flow – Major Movement
₹M
Decrease in Working
Capital – 265
NET CASH (₹ M) Q2FY25 Q1FY25
Gross Cash 10,085 10,460
Long Term Debt NIL NIL
Technica Payout – 1,321
N-Dream Payout - 215 Short Term Debt 401* 447*
Dividend – 1,248
Capex – 857 NET CASH 9,684 10,013

Cash and Cash Equivalents break-up ₹M

In Investment Accounts (in India) 2,449 DSO Q2FY25 end : 45 Days

In Investment Accounts (outside India) 2,912

In Operating Accounts 4,724
TOTAL 10,085 * Debt in the books of Technica

10/23/2024 8
New Engagements
Strong Wins - TCV of new engagements won during Q2FY25 : $ 207 million

A Leading European Car Manufacturer selected KPIT for multiple strategic

engagements in the autonomous, middleware and diagnostics domains.

Strategic engagements in the electric powertrain and connected domains for a

leading American Car Manufacturer.

Crucial engagements in the body electronics connected and electric

powertrain domains with a leading European Car Manufacturer.

Strategic engagements in the connected, middleware and powertrain

domains with a leading American Commercial Vehicle OEM.

Key Engagements in autonomous and powertrain domains for a leading Asian Car
Manufacturer.

10/23/2024 9
FY25 Outlook
Practice & Technology
Additional Technology Investments in related areas. Cross – practice offerings,
AI adoption, stronger Asia focus, strategic partnerships & collaborations

Delivery and Operations

Robust competency framework and relentless execution. Leverage
CC Revenue Global Delivery. Building scale via automation and productivity
growth in the
18% to 22% range People
Create competence at scale. Focus on Leadership development
and AI enablement. New ESOP scheme launched.
EBITDA Margin of
20.5%+
Strategic Clients
Deepen Strategic Relationships by building proactive solutions to
enhance value delivered to clients. Broad base growth
Profitability
Improve Realization with productivity improvement. Enhance people
pyramid, optimization of cost through global delivery model
10/23/2024 10
Other Updates
Q2FY25

Reimagining Mobility with YOU

DISCUSSING THE FUTURE OF AUTOMOTIVE WITH
BLOOMBERG
In a recent interview with Bloomberg Markets Asia, Kishor
Patil discussed the shifting global automotive landscape. He
emphasized how European OEMs are focusing on catching
up in software-defined vehicles and improving the consumer
experience, while Chinese OEMs prioritize cost reduction
and global expansion. Patil highlighted how these trends are
shaping India's automotive industry, driving advancements in
technology adoption, electrification, and cost efficiency.
WATCH HERE

WATCH HERE DRIVING INNOVATION AT THE COMMERCIAL

VEHICLE CONGRESS 2024, USA
KPIT Technologies made a significant impact at
DISCUSSING GROWTH THROUGH TECHNOLOGY the 2024 Commercial Vehicle Congress (COMVEC)
AND INNOVATION WITH TECHCIRCLE in the USA. Our experts shared insights on
In an interview with TechCircle, Mr. Anup Sable, CTO Software Defined Machines (SDM), AI-driven
shared insights on key industry trends, including the shift Powertrain design, Connected Vehicle technology,
to electric vehicles, software-defined vehicles (SDVs), and and Enhancing User Experience. We also
advanced digital interfaces, noting that KPIT’s early launched the "Women in Mobility" initiative,
investments positioned it as a leader in these areas. promoting diversity and leadership in
Discussed quantum technology's future applications and collaboration with industry leaders like Cummins,
KPIT’s strategic approach to growth through acquisitions, Navistar, and Torc Robotics.
partnerships, and investments.
READ MORE

READ MORE
READ MORE

READ MORE

12
 LEVERAGING AI AND ER&D
TO LEAD THE MOBILITY
REVOLUTION
In a recent conversation with CXO News and APAC News Network,
Mr. Kishor Patil highlighted KPIT's remarkable journey from IT
services to becoming a global leader in automotive engineering and
mobility software. Patil discussed KPIT’s role in driving the future
of mobility through AI, autonomous driving, and green technology,
with a focus on transforming vehicle architectures from chip to
cloud. With key strategic partnerships and groundbreaking
technologies like sodium-ion batteries, KPIT continues to play a
pivotal role in advancing India's leadership in sustainable mobility
and electrification.
KNOW MORE

KNOW MORE

KPIT AND MICROSOFT

REVOLUTIONIZE AUTOMOTIVE NAVIGATING THE FUTURE OF TECHNOLOGY AT
REPAIR WITH AI-POWERED COPILOT
THE REGIONAL INDUSTRY SUMMIT 2024
KPIT has joined forces with Microsoft to introduce an innovative AI- At the Regional Industry Summit 2024 hosted by Indo-German
driven automotive repair and maintenance solution, Trace2Fix. As Chamber of Commerce, Indo-French Chamber of Commerce &
highlighted in Microsoft's recent mobility blog, this cutting-edge Industry (IFCCI), and Data Security Council of India, Mr. Anup
copilot addresses key industry challenges such as prolonged repair Sable, CTO and Executive Board Member of KPIT, shared valuable
times, low first-time fix rates, and customer dissatisfaction. By insights on the future of AI, Quantum computing, and India's
leveraging AI to streamline diagnostics and repairs, Trace2Fix expanding influence in the global tech ecosystem. He explored
enhances technician efficiency, leading to faster, more accurate how AI is revolutionizing industries through rapid innovation and
vehicle issue resolution. This collaboration underscores KPIT’s hyper-personalized experiences, while Quantum computing offers
commitment to driving the future of mobility through advanced unique problem-solving capabilities. He also highlighted India’s
technological solutions. leadership in digitization, electronics development, and pioneering
READ MORE research in materials science and hydrogen technology,
positioning the country at the forefront of future
READ MORE tech advancements.
READ MORE

READ MORE

13
 CONVERSATION WITH DR. MARTIN GREEN ON SOLAR
ENERGY INNOVATION
In the latest episode of KPIT STEM Dialogues, Dr. Martin Green, a pioneering figure in solar
technology, shared his insights on the challenges he overcame and his groundbreaking
contributions to the field. As the mind behind the technology that powers 90% of the world's
solar panels, Dr. Green's journey exemplifies innovation and dedication to sustainable energy
solutions. This episode highlights the significant impact of his work on the future of
renewable energy.
WATCH THE VIDEO

WATCH THE VIDEO

MARCONI AWARD WINNER DR. HARI BALAKRISHNAN

SHARES HIS WISDOM ON |WIRELESS INNOVATION

In a recent episode of KPIT STEM Dialogues, we had the pleasure of hosting Dr. Hari Balakrishnan,
a renowned computer scientist and Marconi Award recipient. He shared insights into his inspiring
journey, from his early fascination with mathematics and physics to his pioneering contributions
in wireless networks and internet traffic management. Dr. Balakrishnan's expertise sheds light on
the profound impact of technology on society and the importance of curiosity and collaboration
in driving innovation.
WATCH THE VIDEO

WATCH THE VIDEO

14
 KPIT AND SIIT: SHAPING
THE FUTURE OF
AUTOMOTIVE EDUCATION
IN THAILAND

KPIT has partnered with Sirindhorn International Institute of

Technology (SIIT) to elevate automotive education in Thailand. This
collaboration includes expert-led sessions and internships designed
to equip SIIT students with cutting-edge knowledge and practical
experience in the rapidly evolving automotive industry. By nurturing
young talent and expanding its global reach, KPIT strengthens its
leadership in automotive innovation while empowering the next
generation of engineers to excel in a dynamic field.

KNOW MORE

KNOW MORE

CELEBRATING CONTINUOUS LEARNING WITH KPIT

ACADEMY
July was a significant month at KPIT as we celebrated our
dedicated KPITians who completed various certification
programs. The KPIT Academy Ceremony recognized their
commitment to continuous learning, which drives our culture
of innovation. With esteemed leaders in attendance, this event
highlighted how our team's efforts are setting new benchmarks
and propelling KPIT toward collective success.

READ MORE

READ MORE

15
 HONORED WITH THE
CFO OF THE YEAR AWARD

Ms. Priya Hardikar, our Chief Financial Officer, received the

esteemed CFO of the Year Award in the Medium Enterprises BEST SUPPLIER
Segment (Services category) from Financial Express. Presented by
Hon’ble Union Minister Mr. Ashwini Vaishnaw in Mumbai, this
AWARD IN CSR
recognition underscores the remarkable progress KPIT has made FROM CUMMINS
in the Automotive and Mobility sector over the past five years.
With a steadfast commitment to innovation, strategic KPIT was honored with the Best Supplier Award in Corporate Social
investments, and our Best Place to Grow program, we have Responsibility (CSR) at the Cummins India Suppliers Conference 2024. This
achieved 16 consecutive quarters of growth, nearly doubling prestigious accolade celebrated over two decades of partnership with
profitability. Cummins, highlighting a mutual commitment to creating a positive social
impact. Through initiatives such as the “Chhote Scientist” program, e-waste
recycling, tree plantation, and river cleaning, KPIT demonstrated exceptional
dedication to driving meaningful change in communities. The partnership
continues to advance the shared vision of a cleaner, smarter, and safer
world.
READ MORE

READ MORE
RECOGNIZED AS EXCELLENT
PARTNER BY PANASONIC ITS
KPIT was honored with the Excellent Partner Award for 2023-24
by Panasonic ITS, celebrating our eight-year collaboration in the
infotainment, telematics, and charging sectors. This esteemed
recognition reflected our shared commitment to innovation and
excellence as we worked together to advance key production KPIT WINS BRONZE AT
programs for OEMs worldwide. This accolade not only
acknowledged our significant achievements but also inspired us
ET SHARK AWARDS FOR
to continue transforming the future of mobility alongside EMPLOYER BRANDING
Panasonic ITS. KPIT's social media campaign, "Best Place to Grow," received the Bronze
KNOW MORE Award at The Economic Times ET Brand Equity Shark Awards for
KNOW MORE 'Strengthening Employer Brand to Win War for Talent' in the B2B Campaign
category. This recognition highlighted the power of genuine storytelling and
the vibrant community cultivated within KPIT.

16
KPITIANS IN THAILAND CELEBRATE
SUSTAINABILITY MONTH BY PLANTING 300
MANGROVE TREES
In a commendable initiative to mark Sustainability Month, 64 KPITians KPIT MICHIGAN AND INTERNS UNITE FOR RIVERSIDE
in Thailand collaborated to plant 300 mangrove trees. This effort not
only contributes significantly to carbon sequestration—approximately
CLEANUP DRIVE
73.8 metric tons of CO2 over 20 years—but also enhances water quality
and provides valuable ecosystem services. This action reflects KPIT's The KPIT team in Michigan, along with 2024 interns, participated in a rewarding riverside
commitment to fostering a greener and healthier future for cleanup drive in collaboration with the Clinton River Watershed Council. Divided into five
communities and the environment groups, the teams dedicated two hours to collecting litter and restoring the park's natural
beauty. This initiative underscores KPIT's commitment to environmental stewardship and
community engagement, as team members embraced nature and made a positive impact in
their local area.

17
Financial &
Operational Data
Snapshot

Reimagining Mobility with YOU

Profit & Loss Account Snapshot INR MN

DETAILS Q2FY25 Q1FY25 Q2FY24

Revenue from Operations 14,714.13 13,646.30 11,991.57
Other Income 514.77 543.07 85.94
Total Income 15,228.89 14,189.37 12,077.51
Operating Expenses 11,696.59 10,764.70 9,592.23
EBITDA 3,064.11 2,881.60 2,399.34
This includes forex
Depreciation 560.83 525.14 480.93 loss of INR 46.57
EBIT 2,503.28 2,356.46 1,918.41 million which is
excluded in EBITDA
Finance Costs 101.63 127.31 135.70
computation
Change in FMV of Investments 4.22 1.37 8.72
Profit Before Exceptional Items 2,874.07 2,773.59 1,877.37
Profit/(loss) from equity accounted investee (42.94) (6.62) -
PBT 2,831.13 2,766.97 1,877.37
Tax 793.68 725.37 463.36
PAT 2,037.45 2,041.60 1,414.01
Profit Attributable to owners of Company 2,037.45 2,041.60 1,408.54
Profit Attributable to non-controlling interest - - 5.47

10/23/2024 19
Balance Sheet Snapshot INR MN

ASSETS Q2FY25 Q1FY25 EQUITY & LIABILITIES Q2FY25 Q1FY25

Equity Share Capital 2,714.92 2,713.54
NON-CURRENT ASSETS
Other Equity 22,288.78 21,008.53
Property, Plant & Equipment 2,401.93 2,354.23
Equity attributable to owners 25,003.70 23,722.07
Right-of-use Assets 3,245.22 3,173.80 Non-controlling interests - -
Other Tangible Assets 19.68 3.48 TOTAL EQUITY 25,003.70 23,722.07
Goodwill & Other Intangibles 14,300.85 13,659.10 NON-CURRENT LIABILITIES
Borrowings NIL NIL
Other Non-Current Assets 3,240.64 2,815.08
Lease Liabilities 2,373.58 2,305.87
TOTAL NON-CURRENT 23,208.32 22,005.69
Other Non-Current Liabilities 1,259.70 1,187.73
CURRENT ASSETS TOTAL NON-CURRENT 3,633.28 3,493.60
Inventories 985.09 973.29 CURRENT LIABILITIES

Cash and Bank 10,084.52 10,460.05 Borrowings 400.80 446.94

Trade Receivables 6,530.23 6,753.69 Trade Payables 2,910.19 3,066.13

Lease Liabilities 716.63 683.67
Other Current Assets 5,047.47 3,908.58
Others 13,191.03 12,688.89
TOTAL CURRENT 22,647.31 22,095.61
TOTAL CURRENT 17,218.65 16,885.63
TOTAL ASSETS 45,855.63 44,101.30 TOTAL EQUITY AND LIABILITIES 45,855.63 44,101.30

10/23/2024 20
Revenue Break-up USD MN

Verticals* Q2FY25 Q1FY25 Q2FY24 Q-o-Q Y-o-Y

Passenger Cars 139.08 132.02 110.07 5.3% 26.4%
Commercial Vehicles 28.65 27.86 29.06 2.8% (1.4)%
* The balance revenues comefromothers,whichis not a big area as of now

Business Units# Q2FY25 Q1FY25 Q2FY24 Q-o-Q Y-o-Y

Feature Development & Integration 103.35 100.59 89.72 2.7% 15.2%
Architecture & Middleware Consulting 40.60 33.78 29.40 20.2% 38.1%
Cloud Based Connected Services 29.23 30.50 26.08 (4.2)% 12.1%
#FeatureDevelopment& Integration- Electrification, AD-ADAS, Body Electronicsand VED
Architecture & Middleware Consulting – Middleware,AUTOSAR
CloudBasedConnectedServices – IntelligentCockpit, Digital Connected Solutions and Diagnostics

Geography Q2FY25 Q1FY25 Q2FY24 Q-o-Q Y-o-Y

US 47.59 46.47 44.15 2.4% 7.8%
Europe 84.46 84.97 76.37 (0.6)% 10.6%
Asia 41.13 33.42 24.69 23.1% 66.6%

10/23/2024 21
P&L Metrics
Q2FY25 Q1FY25 Q2FY24 Q-o-Q Y-o-Y
Revenue by Contract Type
Time & Material Basis 43.3% 46.5% 48.6% (2.2)% 6.3%
Fixed Price Basis 56.7% 53.5% 51.4% 11.3% 31.6%
Clients
Strategic Client Revenue 85.5% 86.5% 84.0% 3.8% 21.4%
Active Clients (Period End) 60 60 60
Revenue per Devp. Employee USD 56,558 53,018 51,773
R&D Expenditure (USD MN) 2.70 3.29 3.31
EBITDA Margin 20.8% 21.1% 20.0%
EBIT Margin 17.0% 17.3% 16.0%
PAT Margin 13.8% 15.0% 11.7%
Effective Tax Rate 28.0% 26.2% 24.7%
EPS (Basic) 7.51 7.53 5.20
EPS (Diluted) 7.45 7.47 5.16

10/23/2024 22
Currency wise revenues, Hedging Details

O/s Hedge Details Q2FY25

Currency wise Hedge Rates
Q2FY25 Q1FY25 Q2FY24
revenue
USD/INR 84.65
USD 27.8% 28.7% 31.1%
EUR/INR 93.50
EUR 41.8% 45.5% 44.8%
GBP/INR 108.70
GBP 6.2% 5.2% 7.1% JPY/INR 0.58
JPY 18.7% 15.7% 11.4% Hedge Amounts(Mn)

INR 3.6% 3.0% 3.8% USD/INR 65.35

EUR/INR 50.20
Others 1.9% 1.8% 1.9%
GBP/INR 14.55
JPY/INR 6,488.00

10/23/2024 23
Headcount Data
Period End Headcount Q2FY25 Q1FY25 Q2FY24 Q-o-Q Y-o-Y
Development 12,248 12,186* 11,219 - -
Enabling & Sales 839 815 752 - -
Total 13,087 13,001* 11,971 - -

*252 resources were transferred from KPIT to Qorix during the quarter. The Q1FY25
number of employees is reduced by an equivalent number to make both the quarters
comparable.

10/23/2024 24
Contact Us

Reimagining Mobility with YOU

Conference Call Details
Conference name : KPIT Technologies Q2 FY2025 Post Earnings Conference Call
Date : Wednesday October 23, 2024
Time : 1730 Hrs.
Participants : Mr. Kishor Patil, Co-founder, CEO & MD
Mr. Sachin Tikekar, President, Joint MD
Mr. Anup Sable, CTO
Mrs. Priyamvada Hardikar, CFO
Mr. Chinmay Pandit, Whole-time Director & Head Americas
Mr. Sunil Phansalkar, VP CF&G , Head-IR

Dial-in Numbers for all participants

Primary number : +91 22 6280 1116
Local Access : +91 22 7115 8017
: USA - 1 866 746 2133 | UK - 0 808 101 1573
Click here for your Diamond Pass International Numbers
Singapore - 800 101 2045
Hongkong - 800 964 448
About KPIT Technologies
KPIT (BSE: 542651; NSE: KPITTECH), KPIT is a global technology company with software solutions that will help
mobility leapfrog towards autonomous, clean, smart and connected future. With 11,000+ Automobelievers across the
globe, specializing in embedded software, AI & Digital solutions, KPIT enables clients accelerate
implementation of next generation mobility technologies. With development centers in Europe, USA, Japan, China,
Thailand and India – KPIT works with leaders in mobility and is present where the ecosystem is transforming.

For more information, visit http://www.kpit.com 10/23/2024 26

Contact
For Investor Queries

Email
[email protected]

Desk Phone
+ 91 20 6770 6997

Cell
+ 91 98509 66011

Website
www.kpit.com
Sunil Phansalkar

27
Contact
For Media Queries

Email
[email protected]

Desk Phone
+ 91 80 6606 6000 (7865)

Cell
+ 91 99001 50180

Website
www.kpit.com
Sunil B R

28
THANK YOU !!

KPIT Technologies Ltd.