Buy KPIT Technologies, target price Rs 625: ICICI Direct

ICICI Direct has buy call on KPIT Technologies with a target price of Rs 625. The current market price of KPIT Technologies Ltd. is Rs 593.9.

KPIT Technologies Ltd., incorporated in the year 2018, is a Small Cap company (having a market cap of Rs 16349.94 Crore) operating in IT Software sector.

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



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 701.62 Crore, up 5.54 % from last quarter Total Income of Rs 664.81 Crore and up 21.07 % from last year same quarter Total Income of Rs 579.52 Crore. Company reported net profit after tax of Rs 87.28 Crore in latest quarter.


Investment Rationale
Breakout above last three months range with a strong base at 200 days EMA

Promoter/FII Holdings
Promoters held 40.11 per cent stake in the company as of 30-Jun-2022, while FIIs owned 15.99 per cent, DIIs 10.74 per cent.