Technology is not only about building new solutions; its fundamental purpose is to improve existing conditions and create opportunities for communities to grow and prosper. It is also critical to ensure that the actual design, build, and maintenance aspect is executed in a relevant and sustainable method. By collaborating with our global customers at every step of the process, we at Cyient aim to accelerate engineering
and technology convergence to design Digital Enterprise, build an Autonomous World and develop Sustainable products, plants, and processes.
The cover image of this report represents the power of accelerating engineering and technology convergence across product, process, plant and networks. We have used a generative artificial intelligence (Generative AI) tool to visualize the impact of this convergence as we continue to Design Tomorrow Together with our customers and partners.
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Annual Report 2022-23
TABLE OF
CONTENTS
KEY PERFORMANCE HIGHLIGHTS
04
GLOBAL FOOTPRINT
06
AWARDS AND ACCOLADES
08
MESSAGE FROM THE NON-EXECUTIVE CHAIRMAN
10
MESSAGE FROM THE EXECUTIVE VICE CHAIRMAN & MD
12
CORPORATE INFORMATION
15
OSLO CASE STUDY
16
ACCELERATING ENGINEERING AND TECHNOLOGY
CONVERGENCE IN ACTION
19
BOARD OF DIRECTORS
26
SENIOR LEADERSHIP
28
IN THE MEDIA
30
EMPOWERING TOMORROW TOGETHER
32
NOTICE OF ANNUAL GENERAL MEETING
40
BOARD OF DIRECTORS' REPORT
62
BUSINESS RESPONSIBILITY REPORT
75
MANAGEMENT DISCUSSION AND ANALYSIS
109
REPORT ON CORPORATE GOVERNANCE
129
STANDALONE FINANCIAL STATEMENTS
188
CONSOLIDATED FINANCIAL STATEMENTS
286
HISTORICAL PERSPECTIVE
402
FINANCIAL ANALYSIS
405
SIGNIFICANT MILESTONES
411
SHAREHOLDERS' HANDBOOK
415
Annual Report 2022-23
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KEY PERFORMANCE
HIGHLIGHTS
FY23
In the Financial Year 2023, we recorded our Highest Ever Group Revenue of INR 6,015.9 crores, a growth of 32.7% YoY, and the Highest Ever Normalised Group EBIT at INR 767.7 crores, a growth of 21.9% YoY. Our Group Order Intake stood at INR 5,807.8 crores, with a YoY growth of 23.5%. We also registered our Highest Ever Normalised Net Profit at INR 565.1 crores, with YoY growth of 8.2%. Core Services* Utilization also saw its highest-ever levels at 85.8%, with a YoY increase of
60 bps.
We expanded our capabilities and diversified our portfolio this financial year through the acquisitions of Citec and Grit in the Sustainability vertical, Celfinet in Connectivity, and a Strategic Buyout in Automotive.
Cyient Limited published this content on 31 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2023 08:34:27 UTC.
Cyient Limited is an India-based global engineering and technology solutions company. The Company is engaged in providing global technology services and solutions, specializing in geospatial, engineering design, information technology solutions and data analytics. It also specializes in the areas of total electronics manufacturing solutions in the fields of medical, industrial, automotive, telecommunications, defense and aerospace applications, including manufacturing and machining of components for aerospace, automotive and defense industries. Its segments include Digital, Engineering and Technology; Design Led Manufacturing (DLM), and Others. The Digital, Engineering and Technology segment includes transportation, connectivity, hi-tech, automotive, semicon and medical technologies, and the digital, embedded solutions are across the business units. The DLM segment is engaged in the business of electronic manufacturing services. Its platforms include CyFAST, CyMedge, and PlatformX.
CYIENT LIMITED 
