April 2021 marks a personal milestone: 12 months ago I joined Cyient as COO, in the midst of what was to be the most extraordinary and challenging year of our lives. As I look back at all the milestones we marked together in 2020-21, one thing is clear—the credit for all our hard-won successes in the face of unforeseen odds goes to each one of you dedicated Cyientists who put service before self. I would like to thank each one of you for your effort, commitment, creativity and sheer spunk in steering Cyient from win to win through the uncertainties of the past year.
Together, we successfully tapped the power of collaboration and technology to drive progress—as much for the organization as for the greater good.
Reaching New Milestones through power of Collaboration
Over the months, I have seen several examples of how Cyientists push themselves to deliver on our brand promise of “Designing Tomorrow Together.” Despite working individually across remote locations, our collaborative efforts and focused executionensured that we not just served our customers, but exceeded their expectations. This forward-looking work ethic and spirit of resilience, putting TEAM CYEINT ahead of everything else, was reflected in our financial performance, which improved in a time when businesses were badly hit by the pandemic.
That you, our associates, could seamlessly make a transition to WFH globally across countries and locations in March 2020 when lockdowns were announced, speaks volumes for the tireless and exemplary efforts of the BCP and Facilities teams. I am truly grateful to them. They shipped computers across far-flung destinations while also complying with government regulations for vehicle movement, all in record time.
Propelling exponential Business Growth
With the collective efforts of all our business units, Cyient’s profitability remained unaffected by the pandemic—a commendable achievement—and we continued to net projects from some of the top global companies. What is more satisfying is that our customers’ confidence is at an all-time high on our ability to support such crises, seeing us a value provider and a strategic partner for innovation and digital transformation. In a year when hundreds of enterprises were struggling to optimize customer experience due to supply chain disruptions and plant shutdowns, Cyient recorded its best ever CSAT scores. This could only have been achieved with your whole-hearted support and your willingness to go the extra mile for the organization.
Our work in digital transformation—which suddenly became imperative for multiple industries overnight (this has picked up huge momentum over the last few months, maybe after the dawn of 2021)—generated significant results for our customers, helping them address business challenges brought on by COVID-19. The industry 4.0 market is slated to grow to $520B by the end of this year. The launch of our INTELLICYIENT suite of Industry 4.0 solutions will further help Cyient leverage this opportunity in digital.
I am pleased to say that defying all odds in this unsettling year, four of our business units—Communications, Semiconductor, DLM, and Rail—performed exceptionally well. A strong sign of the trajectory we’re on is the growth we observed for our Aerospace business that witnessed a sequential growth of 4% in Q4 FY’21 despite headwinds. Further, our delivery teams have set a new benchmark for many operating metrics such as utilisation levels, offshoring, automation, and cease & cure. Our sales teams, too, have setup a record overall pipeline, order backlog, large deals and digital pipeline.
Driving Sustainable Impact for Businesses and Communities
Also in focus this year will be our impact on climate change and sustainability. Our Design for Circularity Practice is a step in this direction. I believe technology will act as a crucial enabler in minimizing carbon emissions, maximizing resource utilization, and ushering in a sustainable future.
I am proud of the fact that you helped us leverage tech for humanitarian purposes through the pandemic, boosting Cyient’s brand image in the process. As Cyientists, we rallied behind a larger cause – that of fighting this pandemic together. From deployment of UAVs that made lockdown compliance management simpler for the Cyberabad Police to supporting Molbio in design and mass production of RT-PCR testing kits for COVID-19 and developing an ASIC that helps detect intraocular pressure peaks in glaucoma patients, you validated our belief in the power of using technology for the greater good.
It has been enriching to see our diverse tech-enabled use cases over the past year. With the continual evolution of digital technologies and exponential growth of data, there will be new opportunities to develop intelligent systems that support businesses, communities, and the environment. Once again, I thank you all for bolstering Cyient’s growth despite the unprecedented challenges we faced. Twelve months on, and I, too, now am a proud year-old Cyientist.
Finding Our Centre of Gravity Amidst Challenges
As we begin the new fiscal year, I am confident that we will accomplish even better results for our customers, our people, and our planet. However, amid the second wave of COVID-19, I implore you to stay indoors and stay safe. Your health is of paramount importance right now. My heart goes out to those who have lost their loved ones - those who have lost parents, grandparents, children, partners, and friends. These are tough times and we must focus our energies on looking after ourselves and each other, helping the less fortunate, and doing our part by staying home. We are in it together!
Wish you all good health and safety.