KPIT Technologies

KPIT Technologies
Public
Traded as NSE: KPIT
BSE: 532400
Industry Information Service Group, Product Engineering, IT consulting
Founded 1990 in Pune, Maharashtra
Founder
Area served
 Worldwide
Services IT, business consulting, Engineering and outsourcing services
Revenue Increase US$ 567.64 million (FY 2017-18)[3]
Number of employees
 12,000+ (as of April 2018)[4]
Website www.kpit.com

KPIT Technologies Limited (formerly KPIT Cummins Infosystems Ltd) is an Indian multinational corporation headquartered in Pune, Maharashtra, India.[5] Popularly known as KPIT, it provides IT Consulting and Product Engineering solutions and services to Automotive and Transportation, Consumer and Industrial Goods, Energy and Resources, Utilities, High Tech, and Life Sciences companies.[6]

KPIT is a publicly traded company - BSE: 532400,[7] NSE: KPIT[8]

In automotive domain,[9] KPIT has created well known solutions including REVOLO[10] and India's first ARAI-certified intelligent transportation system — On-bus ITS.[11]

KPIT's FY 2018 revenues were at US$567.64 million[12] and it has 31 offices spread across 16 countries.[5] KPIT has filed 58 patents,[13] published several research papers, and has won several awards for innovation.[14][15]

History

KPIT was co-founded in 1990 by Ravi Pandit and Kishor Patil, as KPIT Infosystems. Both the co-founders are chartered accountants by profession and were partners in the chartered accountancy firm Kirtane and Pandit Chartered Accountants.[16][17]

The company made its initial public offer (IPO) in 1999, which was 50 times oversubscribed.[18]

In 2002, Cummins Infotech, the IT arm of Cummins. merged with KPIT and the name of the company became KPIT Cummins Infosystems Ltd.[19]

It changed its name to "KPIT Technologies Limited" in September 2013. This was in line with Cummins' decision to reduce its shareholding in KPIT to focus on its core business of engine and generator manufacturing.[20] In January 2018, Birlasoft and KPIT Technologies announced to merge and split into two different firms. [21]

Industry focus

KPIT is focused on three industries: manufacturing, automotive & transportation, and energy & utilities, with clients such as Cummins, Paccar, and Lafarge.[22]

Products and services

KPIT provides product engineering and IT consulting solutions and services to its clients. The Product Engineering line of business encompasses solutions and services to create automotive products[23] by impacting the sub-systems of a vehicle including powertrain, body electronics, chassis, diagnostics, telematics, hybrid/electric powertrain as well as infotainment.

The IT consulting line of business spans services and solutions developed around Oracle Corporation and SAP products stacks.

KPIT's Intelligent Transport System (ITS) is the first ARAI-certified JNNURM II compliant On-Bus ITS solution.[24]

Awards and recognition

  • KPIT featured in Forbes Asia Top 200 Best Under a Billion Companies[25]
  • Anup Sable, Sr.VP & Head of Products appointed to the GENIVI Board of Directors[26]
  • KPIT wins prestigious Mahesh Modi Environmental Excellence Award for Revolo[27]
  • Revolo bags ISA Technovation Awards[28]
  • KPIT wins NASSCOM Promising Innovation of the Year for REVOLO[29]

References

  1. ↑ "We see budgets happening in the area of digital technologies: Ravi Pandit, KPIT Technologies". The Economic Times. 27 April 2017. Retrieved 11 September 2017.
  2. ↑ "Kishor Patil, CEO of KPIT Technologies". CIO100, CIO from IDG. 17 August 2017. Retrieved 11 September 2017.
  3. ↑ https://www.moneycontrol.com/news/business/earnings/kpit-q4-net-profit-rises-41-5-to-rs-76-cr-2574809.html. Missing or empty |title= (help)
  4. ↑ "About KPIT". KPIT. Retrieved 11 April 2017.
  5. 1 2 "About KPIT Technologies Ltd". KPIT Technologies Ltd. Retrieved 9 October 2017.
  6. ↑ Ltd, KPIT Technologies. "About KPIT | KPIT Technologies". KPIT Technologies Ltd. Retrieved 2018-05-30.
  7. ↑ "Stock Share Price > Get Quote > KPIT Technologies Limited". BSE. Retrieved 11 April 2017.
  8. ↑ "Quote: KPIT Technologies Limited". National Stock Exchange of India. Retrieved 21 March 2016.
  9. ↑ "Automotive Embedded Electronics Engineering | KPIT". KPIT Technologies Ltd. Retrieved 2017-10-09.
  10. ↑ "REVOLO Ready To Fit Hybrid Technology". Team-BHP.com. 7 June 2010. Retrieved 21 March 2016.
  11. ↑ "KPIT launches Indias first ARAI certified On-Bus Intelligent Transport System (ITS) for JnNURM II". Business Line. 2 December 2013. Retrieved 21 March 2016.
  12. ↑ "KPIT Q4 net profit rises 41.5% to Rs 76 cr". Moneycontrol. Retrieved 2018-05-30.
  13. ↑ "Kishor Patil, CEO of KPIT Technologies". ComputerWorld India. Retrieved 2017-10-09.
  14. ↑ "Awards and Recognition | KPIT". KPIT Technologies Ltd. Retrieved 2017-10-09.
  15. ↑ "2016-1017 Annual Report | Technology Innovation at the Confluence of Engineering & Digital" (PDF). KPIT Technologies Ltd. p. 14. Retrieved 9 October 2017.
  16. ↑ "Sitting Pretty". Outlook Business. 12 October 2013. Archived from the original on 14 July 2014.
  17. ↑ "As the Auto Industry Shifts Gears, KPIT Cummins Finds Room for Growth". Knowledge@Wharton. 8 October 2009. Retrieved 21 March 2016.
  18. ↑ "Investors log on to KPIT Systems,IPO oversubscribed 50 times". The Indian Express. 23 February 1999. Retrieved 21 March 2016.
  19. ↑ "Cummins Infotech merges with KPIT Infosys". The Economic Times. 8 May 2002. Retrieved 21 March 2016.
  20. ↑ "KPIT adopts new brand & visual identity". Moneycontrol.com. 10 September 2013. Retrieved 21 March 2016.
  21. ↑ https://economictimes.indiatimes.com/tech/ites/kpit-birlasoft-to-merge-and-split-into-two-publicly-traded-companies/articleshow/62705366.cms
  22. ↑ "KPIT Technologies Ltd". Manufacturing Leadership Summit 2014. Archived from the original on 1 July 2014.
  23. ↑ Barooah, Sumantra B (8 July 2014). "Tesla looks at global connect with patent-freeing move". Autocar Professional. Retrieved 21 March 2016.
  24. ↑ "KPIT launches intelligent transport system for buses". Business Line. 3 December 2013. Retrieved 21 March 2016.
  25. ↑ "A Tech Company With An Auto Focus". Forbes. 23 July 2014. Retrieved 21 March 2016.
  26. ↑ Kshirsagar, Alka (22 May 2014). "Anup Sable induted on GENIVI Alliance board". Business Line. Retrieved 21 March 2016.
  27. ↑ "KPIT Cummins wins environmental excellence award for Revolo". Automotive Products Finder. Archived from the original on 21 October 2014. Retrieved 21 March 2016.
  28. ↑ "KPIT Cummins' Revolo bags award at ISA Technovation event". CXOtoday.com. 22 February 2011. Retrieved 21 March 2016.
  29. ↑ "KPIT Cummins wins NASSCOM award". Business Standard. 11 February 2011. Retrieved 21 March 2016.
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