KPIT Technologies slides 16% on weak Q1 guidance as European automakers cut spending

KPIT Technologies share price slumped 16% after the weak Q1 outlook. The company stated that Q1FY27 is expected to see around 1% YoY decline in its dollar revenue due to sudden actions taken by some European original equipment manufacturers (OEMs) following their recent profit warnings and weak business outlook.

The company, in its preliminary update for Q1FY27, said that they “expects the financial performance for Q1FY27 to be lower than expected previously, due to a sudden drop in revenues in the last few weeks.” Q2FY27 revenue is also expected in the similar range as Q1FY27.