KPIT Technologies has unveiled India’s first sodium-ion battery technology, which is a cheaper alternative to lithium-ion (Li-Ion) battery used in electric vehicles and for energy storage.
KPIT Technologies reports a 56.8% YoY rise in Q1FY24 net profit to ₹133.9 crore, with total revenue from operations rising nearly 60% to ₹1,097.6 crore.
KPIT Tech shares: FPI holding in the IT firm stood at 23.42 per cent as on March 31, as per a BSE filing, which was the highest since September quarter of 2019. FPIs held 20.26 per cent stake in KPIT Tech as on December 31, 2022.
KPIT’s M&A strategy has been focused on acquiring capabilities. It has done four acquisitions over the past two years for a cumulative amount of $166mn with the biggest being Technica in September 2022 for $110 million
The price-to-earnings (P/E) ratio of KPIT Technologies was at 86.79 times on March 31 against the three-year average of 54.04 times, indicating an overvaluation of the stock. The ratio is used for valuing a company that measures its current share price relative to its earnings per share.