Hyderabad-based Cyient provides engineering and digital transformation solutions to global companies across 14 countries. With an army of 12K employees on board, the company has been recognized as a futuristic technology solutions provider, and among the top 15 engineering service providers globally
Cyient was founded in 1991 by BVR Mohan Reddy, and it went public in March 1997. While it started off by offering geospatial services, today it offers a host of other services which include digital transformation, with its trademark technology – IntelliCyient, for manufacturing and industrial companies, innovation services (with CyentifiQ), to build future-ready solutions for companies using mature and emerging technologies, and engineering services like design, manufacturing and aftermarket support, to name a few. Its customers include several Fortune 500 companies spanning sectors like aerospace & defense, automotive, energy, industrial & heavy equipment, semiconductor, utilities and more.
On the revenue front, Cyient recorded US $556.8 million in FY21, with the highest dividend payout of 51.4% in a year. In Q4 2022, the company delivered growth of 4.6% y-o-y, and its services revenue stood at US $130.6 million, a 9.2% increase from the same period last year. The growth was driven by two factors; good momentum in the large deals pipeline, including addition of two fortune 500 companies into its portfolio, and a 50% increase in digital orders throughout the year. Commenting on Cyient’s roadmap for FY23, its managing director and CEO, Krishna Bodanapu said, “For FY23, we are confident of double-digit growth. The aerospace business is on the recovery path and we expect the momentum to continue through the next year. We expect the services business to grow double digits. We expect the EBIT margin to be marginally impacted by wage hikes and key investments we are making to drive growth. This is expected to be offset by price hikes and operational efficiency improvement initiatives.”
Cyient has many accolades to its credit. This year, it has been named one of the top 15 engineering service providers by Everest Group. And, it has been recognized by ISG, Everest and Zinnov for being a futuristic technology solutions provider. It has been specifically ranked for its IoT, 5G and digital service capabilities.IDA Ireland ITeS100 ITeS 100 Krishna Bodanapu