Buy KPIT Technologies, target price Rs 1030: Jayesh Bhanushali

Jayesh Bhanushali of IIFL has buy call on KPIT Technologies with a target price of Rs 1030.The current market price of KPIT Technologies is Rs 979.05. Jayesh Bhanushali recommended to keep stop loss at Rs 940.

KPIT Technologies, incorporated in the year 2018, is a Small Cap company (having a market cap of Rs 26856.50 Crore) operating in IT Software sector.

KPIT Technologies key Products/Revenue Segments include Software Services and Sale of Products for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 1023.63 Crore, up 9.11 % from last quarter Total Income of Rs 938.17 Crore and up 53.97 % from last year same quarter Total Income of Rs 664.81 Crore. Company has reported net profit after tax of Rs 111.07 Crore in latest quarter.

The company’s top management includes Mr.S B Ravi Pandit, Mr.Anup Sable, Prof.Rajiv Lal, Ms.Bhavna Doshi, Mr.B V R Subbu, Mr.Anant Talaulicar, Mr.Nickhil Jakatdar, Prof.Alberto Sangiovanni Vincentelli, Mr.Sachin Tikekar, Mr.Kishor Patil, Mr.Chinmay Pandit. Company has B S R & Co. LLP as its auditors. As on 31-03-2023, the company has a total of 27 Crore shares outstanding.

Investment Rationale
The stock has given a consolidation breakout.

Promoter/FII Holdings
Promoters held 39.49 per cent stake in the company as of 31-Mar-2023, while FIIs owned 23.42 per cent, DIIs 12.3 per cent.