Buy KPIT Technologies, target price Rs 860: Religare Broking

Religare Broking has buy call on KPIT Technologies with a target price of Rs 860. The current market price of KPIT Technologies is Rs 784.8. Religare Securities recommended to keep stop loss at Rs 720.

KPIT Technologies, incorporated in the year 2018, is a Small Cap company (having a market cap of Rs 21521.66 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 31-12-2022, the company has reported a Consolidated Total Income of Rs 938.17 Crore, up 24.37 % from last quarter Total Income of Rs 754.32 Crore and up 48.70 % from last year same quarter Total Income of Rs 630.92 Crore. Company has reported net profit after tax of Rs 103.98 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 31-12-2022, the company has a total of 27 Crore shares outstanding.

Investment Rationale
Stock has witnessed a breakout from a congestion zone of late. Trading at record high.

Promoter/FII Holdings
Promoters held 40.1 per cent stake in the company as of 31-Dec-2022, while FIIs owned 20.3 per cent, DIIs 12.69 per cent.