• EBITDA margin performance: Full-year EBITDA margin stood at 20.6% compared to 21.1% last year, pressured by wage costs and short-term revenue cannibalization from transitioning to AI-infused solutions like the Beacon platform. Management expects these AI-led offerings to drive margin expansion in the mid-term.
• Revenue mix targets: KPIT aims to transform its revenue profile by increasing the contribution of products and solutions from 15% last year to over 65% by FY29, reducing services to 30%–35%.
• Client and R&D expansion: The company added a record 13 new clients, expanded wallet share with existing clients by 10% (targeting 20% in the current year), and plans to increase R&D investments from 3% to about 5% of revenue.
• SDV program headwinds: First-half revenue growth will be muted after a top client canceled all EV programs and took a $15 billion charge, though another key SDV program will launch in 3 to 6 months and growth is expected to rebound in the second half.