KPIT Technologies - Revenue Growth In Line, High-Teen Growth Eyed: Anand Rathi
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Anand Rathi Report
KPIT Technologies Ltd.'s Q2 was strong. Revenue up 4.1% QoQ, 23% YoY, to $80 million, and a large deal of $52 million total contract value.
Growth was across all key regions (the U.S., Europe, Japan) but in service lines, Powertrain (13% QoQ, 31% YoY), diagnostics and Autosar led the way.
KPIT Technologies' top-25 accounts continue to grow (20% YoY). The better-than-expected 17.6% Ebitda margin, despite Q2 wage hikes, is likely to be high (guidance for FY22: ~17.5%).
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