KPIT Tech shares sink 17%, see worst plunge since 2020 Covid crash. Time to buy or more pain ahead?

KPIT Tech shares plunged about 17% to Rs 559.20 after the company warned that Q1 FY27 revenues are expected to decline 1% YoY due to sudden actions by some European OEMs following their profit warnings. EBITDA and net profit margins are likely to fall sequentially by a proportionately larger amount than the revenue decline, with no time for cost optimisation. The crash wiped off over Rs 3,080 crore from its market capitalisation, bringing it down to Rs 15,330 crore, while technical analysts flagged further downside risk toward the Rs 550 support zone.