Equity L/S Analyst | Forensic Accounting | India, Yellowstone Equity

Ankit Agrawal, CFA

I possess investment research experience across asset classes and geographies, acquired at Investcorp (New York) and Howe & Rusling (Rochester). At Investcorp, an alternative asset manager, I was part of an investment team managing >$1bn in discretionary client assets. I was also a member of investment recommendation, monitoring, cross-asset strategy and macro outlook committees that met periodically for investment decisions and top-down views. At Howe & Rusling, a long-only asset manager, I helped cover US large-cap equity investments across sectors for growth and income focused portfolios as well as assisted in managing a US small-cap growth focused equity portfolio. I possess an MBA in finance and corporate accounting from University of Rochester in US, a CFA Charter, and an Engineering degree from Indian Institute of Technology Bombay in India.  

My current focus is L/S equity fundamental research across market cap and sectors with an eye on corporate governance and forensic accounting. I am currently based in India and my current coverage universe is biased towards India.

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Regulatory Disclosure: Note that Ankit Agrawal (Proprietor of Yellowstone Equity) is a SEBI registered Research Analyst (Registration No.: INH000007216). Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Research Analyst Contact Details -
Address: 5184, Dolatganj Bajar, Ankit Hospital, Dahod (Gujarat) - 389151 |
Email: services@yellowstoneequity.com |
Mobile: +91-7575817289

Compliance/Grievance Officer -
Name: Ankit Agrawal |
Email: services@yellowstoneequity.com |
Mobile: +91-7575817289
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Equity L/S Analyst | Forensic Accounting | India

KPIT Tech: Important Cues on Demand Environment from Tata Tech Earnings Call

KPIT Technologies Ltd - Soft Quarter; Solution-Based Transformation

KPIT Tech: Shift to a Solutions Led Approach

KPIT: Q4FY26 Earnings Preview - Growth Is Reviving | AI Impact Overdone in the Stock Price

Creating Wealth through Alpha and Compounding

Yellowstone Equity

Providing unbiased and independent research on Indian equities to global institutions and individual investors


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Regulatory Disclosure: 
Note that Ankit Agrawal (Proprietor of Yellowstone Equity) is a SEBI registered Research Analyst (Registration No.: INH000007216). Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Research Analyst Contact Details:
Address: A-412, Shilp Aaron, Sindhu Bhavan Road, Ahmedabad, Gujarat - 380059
Email: services@yellowstoneequity.com
Mobile: +91-7575817289

Compliance/Grievance Officer:
Name: Ankit Agrawal
Email: services@yellowstoneequity.com
Mobile: +91-7575817289
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Equity Bottom-Up

<ul>
<li>KPIT reported a strong Q4FY26 suggesting that the demand is reviving back allaying macroeconomic concerns. Deal wins came in at an all-time high of $349mm.</li>
<li>KPIT's Q4FY26 revenue grew at 1.8% QoQ in constant currency (CC), higher than the 1.5% we projected. Growth was led by off-highway and trucks followed by cloud-based connected services.</li>
<li>KPIT has been pivoting towards solutions and products, whose contribution to revenues is expected to grow at 30%+ CAGR. 21% of the total pipeline is already from solutions and products.</li>
</ul>


KPIT reported a strong Q4FY26 suggesting that the demand is reviving back allaying macroeconomic concerns. Deal wins came in at an all-time high of $349mm.
KPIT's Q4FY26 revenue grew at 1.8% QoQ in constant currency (CC), higher than the 1.5% we projected. Growth was led by off-highway and trucks followed by cloud-based connected services.
KPIT has been pivoting towards solutions and products, whose contribution to revenues is expected to grow at 30%+ CAGR. 21% of the total pipeline is already from solutions and products.


KPIT Tech: Investor Day and Earnings Update