The Year That Was: Enabling Success and Innovation
It’s with great pride that we present our 26th annual report, which showcases the execution of our strategy in being a Design, Build, Operate and Maintain partner to clients across the globe. Armed with this strategy, we have helped clients succeed across their value chain in a complex, digital, and disruptive world.
FY2017 was an exceptional year for Cyient. We saw a double-digit growth in our top and bottom lines. Our revenue grew by 16.3% YoY, and the operating profit and the net profit grew by 15.7% and 10.7%, respectively. We have been surpassing the industry average for several years.
Despite the double-digit revenue growth, our cash generation increased by 30 % YoY. This is a reflection of our continuous improvement on various drivers of cash generation.
Emerging technologies are reshaping the world as we know it. We leverage the power of digital technology and advanced analytics capabilities to help clients improve speed-to-market, optimize resources, and reduce costs. From enhancing elevator efficiency to digitizing the network infrastructure for one of Europe’s largest broadband cable service providers, Cyient takes solution ownership across the value chain to enable clients to focus on their core functions, innovate, and stay ahead of the curve.
Our relationships with our clients grow the more we do for them; we call this the virtuous circle!
- We enhanced predictive solutions for the elevator industry by supporting thyssenkrupp’s predictive maintenance solution MAX with data analytics.
- Our predictive analytics solution harnesses the power of IoT for the ultra-low temperature medical freezer to enable ten-week-advance-alerts to predict asset failure for optimized performance and reduced maintenance costs.
- We enabled the digitization of the network infrastructure for one of Europe’s largest broadband cable service providers by maintaining the data quality at more than 98%.
- We helped design, deploy and manage networks that sustain a connected future by managing over nine million network data updates in both physical and logical network inventory systems for one of APAC’s leading communication service providers.
- Our automated device configuration management (DCM) solution helped streamline the DCM for improved reliability, efficiency, and cost.
- We helped manage the entire life cycle of an ASIC chip with our turnkey solution that improved security and lowered BOM.
- Our outage management app not only helps proactively communicate power outages and estimated restoration time to achieve enhanced customer satisfaction but has also helped us win the Itron’s Ignite Innovation Challenge.
Some of our client success stories:
Cyient’s Future-Facing HR Strategy:
Cyient’s human resources strategy focuses on four key pillars— building organizational
capabilities, talent acquisition, talent mobility, and systems. As a part of this strategy, our team has created global mobility and immigration processes and increased the availability of corporate training programs for leadership development. We also continually implement highly competitive programs for emerging leaders that help develop and nurture them for their future leadership roles.
As part of our strong corporate ethos, co-creating business and public value are important to us. In this direction, the Cyient Foundation has developed a framework that unifies its diverse corporate social responsibility initiatives, such as adoption of government schools, digital literacy programs, and social Innovation technology projects. Our goal is to democratize technology to help mankind and create a positive impact in everyone’s life.
Cyient’s partnership with Srujana Center for Innovation is aimed at bringing innovation to the healthcare sector. The funding assistance from the Cyient Foundation has helped the Center come up with two patents — The Pediatric Perimeter and The Bull’s Eye Drops. The continued support from the Cyient Foundation has also resulted in the Center winning the BioAsia award for The Pediatric Perimeter, and The Open Indirect Ophthalmoscope being selected as one of the finalists for the Hackaday Prize 20.
– Our efforts in providing quality education by numbers
In March, this year, our Executive Chairman, BVR Mohan Reddy, received the prestigious
Padma Shri award – the fourth highest civilian honor awarded by the Republic of India, from the Hon. President, Shri Pranab Mukherjee, on March 30, 2017, for his contribution to Trade and Industry.
As we are prepping up for another successful growth-driven year, we are mindful of the pace of change in the industries that we serve and the paradigm shift in client expectations. While we delivered industry leading results in FY2017 and have a robust outlook for FY2018, what excites all of us at Cyient is the immense opportunity ahead of us and the actions in strategy, innovation and operations that we have undertaken this year to help us surge ahead in FY2018.
Click here to read our 26th Annual Report.
By Meghna Lal | August 15th, 2017