BIRLASOFT Share price

KPIT was incorporated on 28th December 1990 under the Companies Act 1956 under the name & style of "K & P Information Technology Pvt. Ltd.". K & P is an abbreviation of Kirtane & Pandit which is a Chartered Accounting firm with a standing of over 50 years in the profession. The word "Private" was deleted on 26th July 1996 under section 23 of Companies Act and a special resolution passed under section 44 of the Act by the Company at its Extra-Ordinary General Meeting held on 4th May 1996. The name was changed to KPIT Systems Ltd. on 23rd August 1996 under section 21 and a special resolution passed under section 44 of the Act by the Company at its Extra-OrdinaryGeneral Meeting held on 4th May 1996.KPIT has been promoted by a team of six professionals. Two of them who initially set up the Company are from the Accountancy and Finance background. The other four are from the IT background. One of them has extensive experience in establishing and managing software services the other in marketing IT services. The other promoter has a background in designing and implementing Process Automation solutions while one of them has wide experience in software development in a range of areas including databases object oriented technologies on various systems.KPIT was initially engaged in rendering onsite services. Over the last two years the focus has been consciously shifting to offshore services and products. Currently the range of service offerings include software services in the areas of Re-engineering Migration Datawarehousing and Enterprise Resources Planning Consulting Product Development and Management Bespoke Software Development and a product in the field of Process Automation Software-ASTRA. In the same periodthe company has evolved from an organisation with 66 employees in June 1996 to the current strength of around 250 employees. The Company is a 100% Export Oriented Unit and an industrial undertaking set up in the Software Technology Park in accordance with the Software Technology Park Scheme notified by the government. The export performance of the company is outlined in the following table. (Rs. in lacs)Year 1997-98 1996-97 1995-96Total sales 1558.76 1225.05 775.99Exports 1448.88 1129.99 665.95Exports/Total Sales (%) 93% 92% 86%Domestic 109.88 95.06 110.04Domestic Sales/ 7% 8% 14%Total Sales (%)