Goldman Sachs has maintained its neutral rating on KPIT Technologies with a target price of ₹1,100, citing a weak second quarter performance outlook. The brokerage expects the company’s organic constant currency revenue to decline by 2% sequentially, while reported dollar revenues may fall 1%, cushioned slightly by cross-currency tailwinds and rupee depreciation.
The firm noted that KPIT’s acquisition of Caresoft, which closed in mid-August, will contribute around $4 million to revenues this quarter. Factoring in the acquisition, overall QoQ revenues are expected to remain largely flat, implying over 2.6% growth versus estimates.
Goldman Sachs said the near-term trajectory remains pressured by slower organic momentum, though acquisitions add incremental growth. The neutral stance reflects limited visibility on strong upside catalysts in the immediate quarters, particularly as sectoral headwinds persist.
Disclaimer: The views and recommendations above are those of Goldman Sachs. Business Upturn does not endorse them. Please consult a financial advisor before making investment decisions.
