Birlasoft Ltd Share Price

History of Birlasoft Ltd

Birlasoft Limited, was formerly incorporated as 'KPIT Technologies Limited' on 28th December, 1990. The name of the Company was later on changed to Birlasoft Limited on 8 February, 2019. Birlasoft is a global leader in Cloud, Artificial Intelligence (AI) and Digital Technologies, supported by 12,500+ professionals. It drive digital transformation for diverse industries empowering customers with innovative solutions in an ever-evolving and dynamic environment. The Company provides Software Development, global IT consulting and product engineering solutions to its clients, predominantly in Banking, Financial Services and Insurance, Life Sciences and Services, Energy Resources and Utilities and Manufacturing including Discrete Manufacturing, Hi-Tech & Media, Auto and Consumer packaged go ...ods verticals. The Company has unique, industry-leading capabilities from the Enterprise Product and Cloud companies: SAP, Oracle, J D Edwards, Microsoft, Amazon Web Services (AWS), Google, Salesforce.com, Service Now, etc. It has strategic level partnerships with SAP, Oracle and Salesforce, a position unmatched by any other similar-sized company. It possesses significant digital' capability in Analytics, Robotic Process Automation (RPA), Digital Portals, User Experience and Digital Advisory services. A sizeable extensive set of solutions and services demonstrate its capabilities and presence in application development, support, and maintenance for next-generation services in the digital world. The Government of India honored the Company with Excellence in Export Award during the year 1994. Subsequently, in 1995, KPIT had received Outstanding Achievement award from Oracle. For it quality assurance, the company had bagged ISO 9001 certification in the year 1997 from KPMG. During the year 1999, the company went to public and issued Initial Public Offerings. In 2000, the company had signed an agreement with an Israel-based company, BIS, for legacy to Web transaction process, also entered into the mobile commerce space and had taken up projects in the US and Germany. The Cummins Infotech was merged with the company in the year 2002; it leads the company to known as KPIT Cummins Infosystems Limited. The company achieved the CMM 5 level in the year 2003 for its organization processes. Further, in the year 2004, the company obtained one more quality certificate, ISO 9001:2000 was handed over to the company. In the same year of 2004, KPIT had acquired the Panex Consulting of United States of America. The company had integrated all of its offshore facilities in Pune into state-of-the-art campus at Hinijawadi. Also in the identical year of 2005, the company had acquired Solvcentrl.com in USA and Pivolis.com in France. During the year 2006, KPIT had one more company, namely C G Smith in India. KPIT Cummins had attained Microsoft Gold Certification status in April of the year 2007 with competencies in Custom Development and Microsoft Business Solutions. The year 2007 was the very important year to the company; KPIT Cummins achieved the corporated mission of being a US $100 million company. In July of the year 2007, the company through its wholly owned BPO subsidiary, KPIT Cummins Global Business Solutions (GBS), had reached an understanding to partner with Cummins Inc to deliver Finance and Accounting (F&A) services to Cummins entities worldwide. KPIT Cummins had taken over substantial part of the Mechanical Design Services business of Harita TVS Technologies (known as TVS-E Technologies Ltd in India) in July 2008. The company made a strategic alliance with GemStone Systems in August of the year 2008 to offer High Performance Computing (HPC) and Cluster Management solutions to global corporations across US, India, Japan and Europe. KPIT Global Solutions Limited was merged with the Company with effect from 26 September 2014. Impact Automotive Solutions Limited, previously an associate company, became a 100% subsidiary of the Company with effect from 1 July 2014, consequent to the acquisition of its entire share capital by the Company. Integrated Industrial Information, Inc., a US based company specializing in Product Lifecycle Management (PLM) software business, was acquired through KPIT Infosystems Inc., USA, effective from 9 May 2014. HD Solutions GmbH, a German Company specializing in PLM space, was acquired through KPIT Technologies GmbH with effect 1 November 2014 and was subsequently rechristened as KPIT Solutions GmbH. During the year 2014, the Company successfully completed the development of Revolo Hybrid system platform components, which will help to significantly reduce the time to develop Hybrid system for new vehicle variants. Central Motor Vehicle Rule Committee (CMVR) approved the Homologation standards for Hybrid Electric System Retrofitment and has published draft notification for the same. Further, Powertrain team of Automotive SBU has filed a patent application for Hybrid system architecture for large vehicles. The Company has started research projects with Council of Scientific & Industrial Research (CSIR) and National Chemical Laboratory (NCL) in areas of alternate fuel technologies. During the year 2014, the Company formed various strategic alliances and partnerships to strengthen the base for BTU. It entered into alliance partnership with JDA Software Solutions that offers supply chain management solutions. It signed a strategic partnership with a leading SaaS solution provider, ServiceNow. It partnered with ICERTIS to jointly deliver high quality ERP surround solutions on the cloud. In the financial year 2014-15, the Company successfully rolled out Microsoft Dynamics CRM across all SBUs and Industry Business Units (IBUs) globally. It also launched Analytics platform using SAP, giving users self-service capabilities for analyzing data enabling data driven decision-making culture. During the FY 2015, the Company launched the KPIT Engineering cloud while taking the first step towards setting up of a Benchmarking and Components Tear down facility, thus improving its positioning in Value Engineering and Cost Management. KPIT medini Technologies AG was sold to ANSYS Germany GmbH on November 2, 2016. Also MicroFuzzy Industrie - Elektronic GmbH, a German based company was acquired through KPIT Technologies GmbH, effective November 30, 2016. As on March 31, 2018, the Company had 17 subsidiaries, including step-down subsidiaries. As on March 31, 2019, the Company had 15 subsidiaries, including step-down subsidiaries. The Board of Directors of KPIT Technologies Limited, at its meeting held on January 29, 2018, had approved a Composite Scheme of arrangement among Birlasoft (India) Limited, KPIT Technologies Limited and KPIT Engineering Limited and their respective shareholders for amalgamation of Birlasoft (India) Limited (Birlasoft) with KPIT Technologies Limited (KPIT) (Combined KPIT) (Merger) and demerger of the engineering business of KPIT into KPIT Engineering Limited (KEL), a wholly-owned subsidiary of KPIT (Demerger). Pursuant to the Scheme of arrangement, the assets & liabilities relating to the engineering business of KPIT Technologies post-merger of the Birlasoft (India) Ltd with KPIT Technologies, were transferred to KPIT Engineering Ltd, being the appointed date January 1, 2019. KPIT Engineering Ltd was renamed as KPIT Technologies Limited' from March 13, 2019. (i.e. the KPIT's engineering services business). Birlasoft GmbH, ceased to be a stepdown subsidiary of the Company w.e.f. July 26, 2021. Enablepath, LLC, a step-down subsidiary of the Company, merged with Birlasoft Inc., wholly owned subsidiary of Company effective April 1, 2023. As on March 31, 2023, the total Institutional Shareholding in the Company was 32.68% of the total paid-up equity share capital. In 2023, the Company established a new delivery centre in Coimbatore, by adding 250 seat capacity put to operation. The Company established a Generative AI Centre of Excellence in collaboration with Microsoft in FY 2024. It launched GenAI Platform Cogito to transform enterprises in 2024-25. Further, it launched bCloud+, an end-to-end solution during FY'24 to help enterprises migrate on-premises Oracle JD Edwards instances to Oracle Cloud Infrastructure (OCI). It attained Amazon Web Services (AWS) Migration Consulting status. The rollout of Optimus was another innovative effort as their internal technology transformation program in FY25.