KPIT Technologies Limited (KPITTECH.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+252.8%

₹1,839.36

vs ₹521.40 price

Levered DCF

₹2,463.67

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.9

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	27.09×	41.08×	67.82×	66.32×	59.81×	32.88×	6.44×	52.5×
P/B	4.88×	11.93×	18.95×	19.29×	12.52×	3.98×	0.91×	0.72×
P/S	2.67×	5.95×	8.35×	7.51×	6.74×	2.36×	0.44×	1.08×
EV / EBITDA	13.45×	27.54×	40.6×	39.39×	35.78×	15.31×	2.97×	6.62×
Gross margin	32.0%	34.6%	33.8%	34.0%	32.5%	32.5%	33.3%	41.9%
Operating margin	16.2%	34.0%	33.2%	33.2%	31.8%	30.9%	31.5%	34.7%
Net margin	9.9%	14.4%	12.2%	11.3%	11.3%	7.2%	6.8%	8.4%
Current ratio	1.03×	1.57×	1.33×	2.14×	2.14×	2.46×	2.23×	1.92×
Debt / equity	0.24×	0.12×	0.15×	0.22×	0.17×	0.19×	0.19×	0.14×
Interest coverage	14.19×	46.88×	29.58×	57.6×	39.89×	36.42×	40.23×	32.06×
Dividend yield	1.3%	0.6%	0.3%	0.4%	0.5%	0.0%	6.0%	0.0%
Payout ratio	35.2%	23.0%	21.6%	23.4%	27.0%	0.0%	38.5%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	18.0%	28.8%	27.7%	29.1%	20.9%	12.1%	14.1%	5.6%
Return on invested capital	15.7%	43.5%	43.6%	52.1%	37.1%	35.2%	43.9%	16.1%
Return on assets	8.8%	16.7%	14.3%	16.3%	11.7%	7.4%	9.0%	3.2%
Free cash flow yield	5.9%	3.6%	2.1%	1.3%	3.5%	11.8%	33.7%	19.9%
Earnings yield	3.7%	2.4%	1.5%	1.5%	1.7%	3.0%	15.5%	7.8%
Enterprise value	₹167.6B	₹338.7B	₹402.4B	₹250.3B	₹161.4B	₹47.5B	₹8.8B	₹6.2B
Net debt / EBITDA	-0.4×	-0.71×	-0.42×	-0.37×	-0.57×	-0.18×	-0.24×	-0.73×
Cash conversion cycle (days)	46	47	55	39	11	8	79	416