KPIT Technologies

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KPIT Technologies
Public
Traded as Nova Scotia
BSE: 532400
Industry Information Service Group, Product Engineering, IT consulting
Founded 1990 Pune, Maharashtra
Founder
  • Ravi Pandit
  • Kishor Patil
Area served
 Worldwide
Services IT, business consulting, Engineering and outsourcing services
Revenue Increase US$ 489 million (2015)[1]
Number of employees
 11,510 (As of 31 Mar, 2016)[2]
Slogan Technologies for a Better World
Website www.kpit.com

KPIT Technologies (formerly KPIT Cummins Infosystems Ltd) is Indian Multinational corporation with registered office in Pune, Maharashtra, India. Popularly known as KPIT, the company provides product engineering services and solutions, IT consulting services and technologies. Headquartered in Pune, India.[3]

KPIT is a publicly traded company - BSE: 532400,[4] NSE: KPIT[5]

KPIT also operates in Automotive domain[6] and has created well known solutions including REVOLO[7] and India's first ARAI[8] certified Intelligent Transportation System — On-bus ITS.[9]

KPIT's FY 2015 revenues were at $489 million and it has 10 development centers and 34 offices spread across 16 countries. KPIT has filed more than 50 patents and has won several awards for innovation.[10]

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 & were partners in the Chartered Accountancy firm Kirtane and Pandit Chartered Accountants.[11][12]

The Company made its initial public offer (IPO) in 1999, which was 50 times oversubscribed.[13]

In 2002, Cummins Infotech, the IT arm of Cummins Inc. merged with KPIT and the name of the Company became KPIT Cummins Infosystems Ltd.[14]

Change in name: 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.[15]

Industry focus

KPIT is focused on the three industries namely manufacturing, automotive & transportation and energy & utilities, with clients such as Cummins, Paccar, Lafarge, and so on.[16]

Products and services

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Main article: Electric vehicle conversion

KPIT is developing a system that can convert new as well as existing diesel buses into full electric buses. Each diesel bus emits 48 tonnes of CO2 per year on average. These electric buses can also help encourage adoption of public transport, as the ride is smoother and more comfortable as compared to a diesel bus. The first electric bus retrofitted by KPIT was unveiled by Indian Prime Minister Narendra Modi in December 2015. Two such retrofitted buses are currently operated by the Indian Ministry for Road Transport and Highways.[17]

Awards and recognition

  • KPIT featured in Forbes Asia Top 200 Best Under a Billion Companies[18]
  • Anup Sable, Sr.VP & Head of Products appointed to the GENIVI Board of Directors[19]
  • KPIT wins prestigious Mahesh Modi Environmental Excellence Award for Revolo[20]
  • Revolo bags ISA Technovation Awards[21]
  • KPIT wins NASSCOM Promising Innovation of the Year for REVOLO[22]
  • Promising Innovation in Transport Award 2016, from International Transport Forum, for developing a system that can convert new as well as existing diesel buses into full electric buses. [23]

References

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  8. ↑ Automotive Research Association of India
  9. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  11. ↑ Lua error in package.lua at line 80: module 'strict' not found.
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  14. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  15. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  16. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  17. ↑ Indian Tech Company Wins Innovation Award for Turning Diesel Buses into EVs, Indian Tech Company Wins Innovation Award for Turning Diesel Buses into EVs
  18. ↑ Lua error in package.lua at line 80: module 'strict' not found.
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  21. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  22. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  23. ↑ Indian Tech Company Wins Innovation Award for Turning Diesel Buses into EVs, International Transport Forum.

External links

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