BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Anand Rathi Report
Good growth in Q1 was seen for KPIT Technologies Ltd.
Revenue up 3.7% q-o-q, 18.3% y-o-y, to $77 million, likely to persist.
Growth came from Asia Pacific/Japan (13% q-o-q, 25% y-o-y) and, in service lines, autonomous driving-advanced driver assistance systems (14% q-o-q, 10% y-o-y) and connected vehicle (14% q-o-q, 10% y-o-y) led the way.
KPIT Technologies' top-25 accounts continue to grow; non-top also contributed to original equipment manufacturer adds.
The better-than-expected 17.3% Ebitda margin is likely to remain high (16.5-17%) despite wage hikes in Q2.
Risk: sluggishness in top 25 clients.
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