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This Multibagger IT Stock Recommends Final Dividend For The FY 2021-22: Check Details

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KPIT Technologies Limited announced that its Board of Directors has recommended a final dividend of Rs. 1.85 per equity share of Rs. 10 per share (18.5 per cent) for FY 2021-22.

 
This Multibagger IT Stock Recommends Final Dividend For The FY 2021-22

The company has informed BSE on 27th April 2022 by saying that "We wish to inform you that the Board of Directors of the Company, at its meeting held through video conferencing concluded today, inter alia, has approved the recommendation of Final Dividend at Rs. 1.85/- per equity share of Rs. 10/- each (18.5%) for FY 2021-22, subject to declaration of the same by members at the ensuing Annual General Meeting ("AGM") of the Company. The dividend, if declared by the members at the AGM will be paid within the statutory timeline as per the Companies Act, 2013 & the Rules made thereunder."

 

The company's operating revenue totalled in March 2022 was Rs 651.77 crore, up 20.62 per cent from Rs 540.33 crore in March 2021. On a quarterly (QoQ) basis, profit before tax (PBT) increased 11.05 per cent to Rs 97.21 crore in Q4 FY22, up from Rs 87.54 crore in Q3 FY22. During the March quarter, KPIT Technologies reported a 52 per cent year-on-year increase in profit after tax to Rs 80.58 crore from Rs 52.75 and a 21 per cent year-on-year increase in sales to Rs 651.76 crore from Rs 540.32 Cr. In Q4 FY22, the IT company's net profit increased 50.37 per cent year over year (YoY), while net sales increased 20.62 per cent whereas in March 2022, the quarterly net profit was Rs. 78.88 crores, up 50.37 per cent from Rs. 52.45 crore in March 2021.

Commenting on the performance of FY22, Ravi Pandit, Co-founder and Chairman, KPIT said," FY22 was a year of resurgence in many ways, and I am happy with the way we have emerged stronger. The transformation in the Mobility Industry is pointing towards Software Defined Vehicles, aiming for a larger goal of sustainability for all. We have been working in these areas for over 2 decades and will be a major contributor towards this transformation with our expertise and dependability. We are committed towards achieving our Vision of creating a Cleaner, Safer and Smarter World".

Kishor Patil, Co-founder, CEO and MD, KPIT said," We have delivered seven sequential quarters of healthy growth and steady margin expansion. The Mobility Industry is investing heavily in CASE and architectural changes to make Software Defined Vehicle a reality. We are witnessing elevated interests from clients to engage in these areas. This gives us great visibility of robust demand for the next 4-5 years. On the back of this, we expect to deliver CC growth of 18%-21% in FY23 with EBITDA margins between 18%-19%. FY23 Volume growth is expected to be ~25%".

Sachin Tikekar, Co-founder and Joint MD, KPIT said," The Mobility Industry transformation is seen in both passenger car and commercial vehicle verticals. This is creating demand much higher than supply. We thus, will have a sharper focus on talent attraction, development and retention. We will continue to invest in the right technologies and partnerships to help us deliver value to our clients, making them successful in their transformation. We start FY23 on the back of closure of key strategic, long-term engagements with our T25 clients, giving us clear visibility for another year of profitable growth".

The company's shares closed at a market price of Rs 570.50 on the NSE today, down 16.05 (2.74 per cent) from its previous closing price of Rs 586.55. The stock has risen 3.92 per cent in the previous five trading days and has declined -0.34 per cent in the last month. The stock has grown by 84.81 per cent in the previous six months, while it is down by -37.65 (-6.19 per cent) year-to-date (YTD). The stock has soared from Rs 195.70 on April 29, 2021 to Rs 570.50 on April 28, 2022, 3:30 pm IST, representing a multibagger return of +374.80. (191.52 per cent). The stock hit a 52-week high of Rs 801 on 10-JAN-22 and a 52-week low of Rs 193.40 on 28-APR-21, and it is now trading 28 per cent lower than its 52-week high. According to Bloomberg Quint, KPIT Technologies Ltd. is trading higher than 5 day and 200-day moving averages but lower than 20 days, 50 days and 100-day moving averages.

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