KPIT is an interesting company in the IT space that caters to upcoming Hardware enabled solutions like Electric Vehicles, Self-Driven Vehicles, etc. that leverage the power of IoT, Cloud Computing, Artificial Intelligence, and Data Analytics.
This stock has really outperformed in the past year with more than ~400% returns.
Also, the stock rallied today by more than 10% on the announcement of coverage by Goldman Sachs stating that gain for the KPIT stock is in the making considering the ability to leverage its strength in the Electric Vehicle Space – Link
Now coming to question,
Does KPIT have Debt?
Its Debt to Equity Ratio is zero and it has been brought down over the years.
Having said that, the company promoter does have stocks pledged. Despite this, it has also come down over the years.
Also, like any expanding/growing company, it has liabilities but it is more than manageable considering the reserves.
Taking all this into account, the company has a lot of upside in terms of business but with regards to the stock, it is already trading at P/E > 50. It is very much true for other peers in the sector. Considering this, understand why you want to buy the stock and how long you are ready to hold it.
Hope this helps
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Happy Investing!!
References:
Lateral Thinking 
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