KPITTECH · Information Technology
KPIT Technologies Ltd. reported revenue of ₹1,675 cr for April to June 2026, +8.8% on the year and −2.1% on the quarter. That is slower than this quarter has grown in recent years (+18.5% on average). Over the last four quarters revenue comes to ₹6,591 cr, +9.6% on the four before.
Operating profit (EBITDA) was ₹257 cr, a margin of 15.3%, −383 bps on the year and −318 bps on the quarter. It is the narrowest margin of the last 8 quarters (range 15.3% to 21.1%). Operating costs grew +14.0%, faster than revenue at +8.8%, so operating profit grew less than sales.
Net profit was ₹116 cr, −32.6% on the year and −28.8% on the quarter, with earnings per share of ₹4.27. Profit before other income, one-offs and tax fell 30.9%, so the profit growth came from the business itself. The tax rate of 27% is in line with its recent average. Profit over the last four quarters totals ₹581 cr, −28.1% on the four before.
On earnings per share of ₹21.25 over the last four quarters, the stock at ₹553.35 trades at 26.0 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
Operating margin fell sharply on the year. Pricing, input costs, or mix?
EBITDA margin 15.3%, −383 bps on the year (−318 bps on the quarter).
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,257 cr | ₹1,318 cr | ₹1,365 cr | ₹1,471 cr | ₹1,478 cr | ₹1,528 cr | ₹1,539 cr | ₹1,588 cr | ₹1,617 cr | ₹1,711 cr | ₹1,675 cr | ₹1,691 cr |
| YoY | — | — | +24% | +23% | +18% | +16% | +13% | +8% | +9% | +12% | +9% | +6% |
| EBITDA margin | 20.6% | 20.6% | 21.1% | 20.2% | 20.7% | 21.1% | 19.2% | 18.8% | 19.2% | 18.5% | 15.3% | 15.8% |
| Other income, % of PBT | 9% | 8% | 19% | 18% | 7% | 19% | 7% | 10% | −14% | 5% | 5% | 5% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 26% | 26% | 26% | 28% | 27% | 23% | 27% | 27% | 26% | 27% | 27% | 28% |
| Net profit | ₹157 cr | ₹166 cr | ₹204 cr | ₹204 cr | ₹187 cr | ₹245 cr | ₹172 cr | ₹169 cr | ₹133 cr | ₹163 cr | ₹116 cr | ₹121 cr |
| YoY | — | — | +52% | +45% | +19% | +48% | −16% | −17% | −29% | −33% | −33% | −28% |
| Core profit YoY | — | — | +44% | +29% | +23% | +24% | −1% | −10% | −13% | −17% | −31% | −23% |
| EPS | ₹5.67 | ₹6.00 | ₹7.45 | ₹7.43 | ₹6.82 | ₹8.93 | ₹6.27 | ₹6.17 | ₹4.86 | ₹5.95 | ₹4.27 | ₹4.40 |
| Flags | · | · | ✓ | 1 | ✓ | 1 | ✓ | ✓ | ✓ | ✓ | 1 | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
KPIT Technologies Ltd. reported revenue of ₹1,675 cr (+8.8% on the year) and net profit of ₹116 cr (−32.6% on the year) for April to June 2026.
Profit before other income, exceptional items and tax moved −30.9% on the year, against −32.6% for reported profit.
1 check raised a question: Operating margin fell sharply on the year. Pricing, input costs, or mix?
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