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25Th Annual Report cyient.com th Global Headquarters 25 Annual Report Cyient Limited, Plot No. 11, Software Units Layout, Infocity, Madhapur, Hyderabad - 500081, India | T: +91 40 6764 1000 2015-16 cyient.com 25 Years of Designing Tomorrow 2015-16 Together Annual Report 1 Envisioning the Future cyient.com Dear Shareholders, It gives me immense pleasure to write to you on our 25th anniversary, when Cyient celebrates its silver jubilee. We are proud that we built a sustainable company over the last 25 years and realized many of our goals and aspirations. We are now even more 2015-16 motivated to scale Cyient to newer heights and build an organization that will last forever. With this let me take you all through various industry and company updates through the year. B.V.R. MOHAN REDDY Founder & Executive Chairman Annual Report 2 3 Macroeconomic Environment: We live in times has an edge in terms of designing. Make in India will when client expectations driven by digital become highly impactful if we look at it from the technologies are creating challenges and holistic view of Innovate-Create-Make-Support. opportunities alike with existing clients, new India has the capabilities and ecosystem to become industry verticals and in many new geographies. the design and innovation hub of the world, In 2015, global economic activity remained supporting complex and high-value manufacturing. subdued. Emerging markets and developing Cyient and other design engineering players are economies which account for 70% of global examples of the design talent in India. Digital India growth declined for the fifth consecutive year, initiative has the potential to transform our nation while a modest recovery continued in advanced and create very positive social impact. Digital India economies. The global economy grew by 3.1% will make it possible to reach the last mile to ensure in 2015 and is projected to grow by 3.4% during that all citizens have access to essential services. cyient.com 2016. Last year, India was the fastest growing Smart Cities initiative will help in making sure that large economy with GDP growth of more than India is creating the right infrastructure to house 7.6% and displayed strong financial discipline and the ever-increasing population in urban areas. emerged as the recipient of the highest FDI inflows There is increased action from the government surpassing China. However, we did face some global in defense procurement. Creation of defense challenges: protectionism for free movement of export strategy and release of the new Defense talent, weakening of UK pound and other currencies Procurement Policy (DPP) are steps in the right because of Brexit, challenges with wage hikes and direction. The government has also cleared new scarcity of resources in new technologies. Overall, defence programs worth $30 billion aimed at from the macroeconomic perspective, we see boosting domestic industry which should create a growth in our business. positive impact for Cyient in the coming years. Indian IT-BPM Industry: Amidst a volatile global 25 years of Cyient. Over the last 25 years, we have economic environment, the IT-BPM industry has always made sure that we created value for our still been able to grow from strength to strength key stakeholders: clients, associates (employees), and is sustaining its double-digit growth. The investors, and society. We have created industry industry clocked $143 billion in FY2016, doubling best practices and have been persistent on it over the last six years and crossing the $100 further improvement to make sure we are leading billion milestone in export revenues. The rapid the change. The continuous improvement in adoption of digital technologies by clients world the results of client, associate, and investor over, will continue to see IT-BPM industry stay on satisfaction surveys gives us confidence that we its growth trajectory. In the digital world, we will have been equitable to all stakeholders. Repeat see three types of businesses emerge: producers orders from existing clients remain high; associate of technology, consumers of technology, and engagement significantly improved last year and the 2015-16 companies that are built on technology. India overwhelming response to our Annual Investor Day continues to gain market share in the global confirms that our interventions are bearing results. sourcing sector and has emerged as the largest diversified scalable destination. Strategy: To ride this tide of change, we are running initiatives to transform Cyient by focusing Social, Mobility, Analytics and Cloud (SMAC), 3D our business on seven industry verticals. We are Printing, Artificial Intelligence, Deep Learning, redefining our business in line with our S3 strategy, Automation, and Internet of Things (IoT) provide restructuring our leadership to have more vertical- opportunities for new entrepreneurs and can based roles and responsibilities, and pushing the challenge traditional market leadership. The fresh boundaries to position ourselves as a Design Led wave of startups have become the innovation Manufacturing Company. To track and execute this hub of India. These startups are disrupting journey, we have defined our strategy and roadmap existing business models and creating new for 2020. Cyient has identified areas like Internet of products and services with more value. We see Things, mechatronics, analytics, automation and a strong synergistic relation between the giant robotics, and additive manufacturing as growth IT-BPM companies and these new-generation engines for the future. entrepreneurs. Mergers and Acquisitions: We have very clear and Indian Government Initiatives: The government ambitious goals for our company by 2020. As part has been embracing the shifts in technology with of our growth initiatives, we completed several new initiatives: Make in India, Smart Cities, Digital strategic acquisitions over the past two years. India, and Defence Procurement Policy (DPP). India Rangsons Electronics is helping us design as well as has historically been a hub of creative minds and manufacture for our clients. Annual Report 3 Cyient Insights is creating synergistic opportunities Engineering Center in East Hartford is also being in all verticals in big data and analytics. GSE (the expanded. Cyient is building a new delivery center aerospace aftermarket services business of in Warangal, Telangana. In setting up these centers, Pratt & Whitney Singapore) is helping us provide we are judiciously balancing between client needs, repairs, development, and validation of aero engine resource availability, cost, and inclusiveness. components. These acquisitions were very well thought through and are in line with our Design, Corporate Social Responsibility (CSR): Cyient Build and Maintain strategy. The integration Foundation has adopted 16 schools in and around exercise is complete and the teams are very our facilities and supports over 10,500 children confident that starting this year these acquisitions from primary education through high school. Cyient will create a positive traction for our business. Foundation has implemented digital libraries in two schools and supports five National Digital Literacy cyient.com Innovation: Innovation is in Cyient’s DNA and Mission (NDLM) centers. Under the Swachh Bharat our engineers have always delighted clients with Initiative, Cyient Foundation introduced the Swachh innovative solutions. We have made significant Telangana-Swachh Pathashala campaign to provide and perceptible progress in enabling innovation water, sanitation and hygiene (WASH) facilities in across all our focus industries. We have launched 54 government schools benefiting over 20,000 organization-wide innovation challenges like Project students in Lingampally Mandal in Ranga Reddy Tango: aimed towards virtual reality and sensing District, Telangana. technologies; Internet of Things Hackathon: developing working IoT-based prototypes in a To celebrate the silver jubilee year, Cyient is running week’s time; and LEGO War: a rapid prototyping an initiative to set up 54 Cyient Digital Learning exercise to generate ideas. We established a Centers (CDLCs) across Serilingampally Mandal, world-class Experience Center that exemplifies Telangana. These CDLCs (computer center, digital ‘Innovation @ Cyient’ and incubates our Lego Lab, library, and NDLM) are envisioned as the digital 3D Printing Lab, and IoT Lab. We are accelerating gateway for the underprivileged students and the our innovation culture and emphasizing co- surrounding BPL community. In this disruptive innovation and IP creation with clients. We filed world, Cyient wants to be a supporter of digital 16 patents during FY15-16 including four patents transformation of society. This CSR initiative of that were independently filed by Cyient. During the Cyient will provide access to digital knowledge year, we published 38 papers in different industry and open up new possibilities to more than journals. In coming years, our endevour would be to 20,000 underprivileged children and will foster IT institutionalise “Innovation@Cyient”. literacy in over 50,000 communities in the Mandal. 2500 Cyient associates have contributed 9000+ Industry Analyst Ratings: We continue to volunteering hours through various CSR activities reinforce our value proposition of Design-Build- during weekends and holidays. 2015-16 Maintain that differentiates Cyient as a one-stop partner for global OEMs across several industry Corporate Governance: The highest standards of verticals. As per independent
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