KPIT Share Price

KPIT Technologies Limited specialises in embedded software and product engineering services for automotive and mobility industry. Commonly called KPIT, the company is headquartered in Pune and operates development centres in Europe, United States, Japan and China.

KPIT Technologies was founded in 1990 by Ravi Pandit and Kishor Patil as KPIT Infosystems. Being chartered accountants and having previously partnered at Kirtane & Pandit Chartered Accountants (KPCA), they laid the foundation for the company. Their venture took a significant leap in 1999 with the initial public offering (IPO).

The market capitalisation of KPIT Technologies stood at over ₹41,500 crore as of December 16, 2023. In the past three years, KPIT share price has appreciated over 1,279% return to investors.

KPIT Technologies Business operations

In 2002, the IT division of Cummins Engineering teamed up with KPIT, resulting in the creation of KPIT Cummins Infosystems. This joint venture specifically targeted embedded software and digital transformation within the automotive and manufacturing industries. From 2002 to 2013, KPIT witnessed a significant expansion in its client base and also acquired several entities.

The company acquired companies like CG Smith, TVS Harita Mechanical Engineering Team and Germany's in2Soft Diagnostics, integrating them into the KPIT network. In July 2018, the IT consulting firm changed its name from KPIT Cumins Infosystems to KPIT Technologies Ltd. The renaming of the company was done after the stake of Cummins was diluted from 13% to 6%.

To consolidate its position in the industry, the company joined hands with Birlasoft, the IT arm of CK Birla Group, in July 2018. Both the companies came together to create a combined entity worth over $700 million. Later, it was demerged into two separate companies, KPIT Technologies and Digital Business IT Services.

During this process, KPIT divested over 70% of its business. Post-merger and demerger, KPIT transformed, despite being only 30-40% of its former size in 2018.

As of December 2023, KPIT Technologies operates across 13 countries. The company has centers of excellence in India (Pune, Bengaluru, Kochi), the EU, US, Brazil, Thailand, China and Japan. Its specialised areas include autonomous driving/ADAS, ecockpit and connectivity, cloud and virtualisation, predictive diagnostics and maintenance, functional consolidation in body electronics, aimed at supporting the self-driving vehicle transformation.

The Renault Group in 2023 selected KPIT as its key partner to expand software capabilities in its upcoming next-generation SDVs. It also joined forces with Honda to embark on an exciting journey toward its software-defined mobility.

As of FY23, KPIT had a network of 25 centers of excellence. There are more than 10 million vehicles on the road globally equipped with software solutions developed by KPIT technologies.