Cyient Ltd Company Summary

Cyient Ltd Summary

Cyient Limited was initially incorporated as Infotech Enterprises Private Limited, a Private Limited Company on 28 August, 1991 and was subsequently converted into a Public Limited Company on 21 April, 1995, In May, 2014, the Company changed its name to Cyient Limited.Cyient is a global engineering and technology solutions company, delivering Intelligent Engineering and Technology Solutions for a Digital, Autonomous, and Sustainable Future. It engages with customers across their value chain helping to design, build, operate and maintain the products and services that make them leaders and respected brands in their industries and markets. Customers draw on the Companys expertise in engineering, manufacturing, and digital technology to deliver and support their next-generation solutions that meet the highest standards of safety, reliability and performance. It provides engineering, manufacturing, geospatial, network and operations management services to global industry leadersIn April 1997, the company acquired SRG Infotech, a software company which provided services in oracle and visual basic client server environments.In January 1999, the company entered into an agreement with Navionics Italy for digitization and Conversion services. In July 1999, they established a wholly owned subsidiary namely Infotech Software Solutions Inc in USA which is engaged in the business of supplying computer software and related services. In September 1999, they acquired Cartograpic Sciences Pvt Ltd, Mumbai from Analytical Surveys Inc, USA and in April 2000, Cartograpic Sciences merged with company.In May 2000, the company entered into a Master Services Agreement with Pratt & Whitney, a division of UTC group and in April 2001, the company acquired European GIS distributor Map Centric a leading independent GIS distributor in Europe.In September 2003, the company incorporated Infotech Aerospace Services Inc, a wholly owned subsidiary in Puerto Rico for providing engineering design services and also they signed a long term outsourcing contract with Bombarder Transportation for providing Engineering Services in India. They acquired VARGIS, a US based GIS Services Company through their wholly-owned subsidiary Infotech Software Solutions Inc, USA.In March 2005, the company acquired Tele Atlas India Pvt Ltd and also entered into a long-term service agreement with Tele Atlas NV. They opened their branch offices in Singapore and Australia to provide services to growing number of clients in Asia Pacific region.In May 2005, the company inaugurated Geospatial production facility at Frostburg, Maryland, USA in collaboration with Frostburg State University, Allegancy Country and state of Maryland, USA. They have also set up a new office at Rockford, Illinois, USA which shall cater to the needs of After Market Services in the engineering design space.In February 2007, the company set up a development center at Kakinada in Andhra Pradesh. During the year 2007-08, the company acquired 74% stake in Geospatial Integrated Solutions Pvt Ltd and they become a subsidiary of the company which was renamed as Infotech Geospatial (India) Ltd. Also, they established Infotech HAL Ltd, a 50:50 joint venture with Hindustan Aeronautics Ltd to focus on aeroengines, technical publications and anticipated work from various OEMs under offset programmes.The company has figured among the 200 Best under a Bullion listed in the Forbes Asia. Also, the company was rated as one of the top 100 global outsourcing companies in the year 2007 by International Association of Outsourcing Professionals.In May 2008, the company bagged 3 year GIS/ Data Management contract from Powercor Australia & CitiPower Limited. The company set up a marketing and liaison office in Japan in August 2008 and inaugurated a new facility at NOIDA on September 22, 2008.In October 2008, the company acquired 100% stake in TTM India Pvt. Ltd and signed a new long term contract with Bombardier Transportation to provide engineering, electronic design, technical publications, and IT-related services to Bombardier Transportation divisions worldwide. In the same month, the company incorporated a wholly owned subsidiary namely Infotech Enterprises Engineering Services Pvt Ltd in Andhra Pradesh.During January 2010, the company acquired Daxcon Engineering Inc., USA and also acquired Wellso inc; USA in August 2010.During 2011, IGIL (Infotech Geospatial India Ltd) became a wholly-owned subsidiary of the company.During October 2012, the company set up branch in South Korea.In January 2013, the company inaugurated new development center in SEZ in Kakinada. The company also set up branch in Taiwan and South Africa in September and November respectively.In March 2014, the company announced the acquisition of Softential, Inc. Softential brings significant domain expertise, track record and referenceable customers for service management and service assurance solutions. This acquisition aligns well with our strategy of leveraging our network engineering capability to expand into the areas of operational support and managed services for the communications industry.On 7 May 2014, Cyient Limited, formerly known as Infotech Enterprises Limited, officially announced its new name based on approval from a shareholders vote. The process of determining the new identity, bearing connotations to the words client and science, while ient referencing Infotech Enterprises, involved various brand specialistsIn July 2014, the company inaugurated the State-of-the-art Experience Center in Hyderabad, India.During September 2014, the company opened the Dallas Engineering Center and also strenghtened aerospace and defence capabilities. During 2015, the company opened delivery Centers in Taiwan to addresses mature semiconductor market. This name change is part of the companys re-branding exercise.Over the course of Financial Year 14-15, Cyient undertook a comprehensive strategy development exercise with an objective to prepare ground for accelerated growth in the next 3 to 5 years. This aspiration is defined and articulated as the S3 Strategy (Services, Systems, and Solutions). S3 gives Cyient the opportunity to transition from pure services play to becoming a more deeply engaged systems and solutions partner.Cyient ended the FY 2015 with capital expenditure of Rs. 737 million, which is 2.7% of total revenue. It is the lowest ever capex spend as % of revenue which is driven by companys focus on an asset light model, implementation of lease and buyback strategy and robust internal capex control.Headquartered in Melbourne, Cyient Australia Pty Limited (CAPL) was incorporated during the year 2014-15. CAPL seeks to provide engineering, data and network operations services for Asia Pacific region. Cyient acquired a majority stake in Invati Insights Private Limited, a Hyderabad, India and Troy, Michigan, USA based datasciences company in October 2014. The company was subsequently renamed Cyient Insights Private Limited (CIPL). CIPL enables customers drive business innovation and deliver quantifiable business results through smart data analytics and actionable intelligence. CIPL leverages Cyients relationships in different verticals such as Auto and Heavy Engineering, Aerospace, Transportation, and Utilities and its global delivery model in executing projects.Cyient acquired a majority stake in Rangsons Electronics Private Limited REPL in February 2015. Established in 1993 and headquartered in Mysore, Karnataka, REPL operates world class production facilities to support the requirements for Electronics Manufacturing Services (EMS) and System Integration requirements from customers globally. REPL is one of the fastest growing companies with customers in India, North America, Europe, Japan and China. REPLs strategic positioning in the Railways segment is further boosted with the receipt of IRIS certification, an international railway industry standard. Further, the NADCAP AC7120 accreditation demonstrates the companys commitment towards customer satisfaction and meeting stringent industry specifications on a global scale.Cyients Aerospace and Defense business unit acquired Pratt and Whitneys aftermarket business Global Services Engineering Asia (GSEA) on September 1, 2015. Through this transaction, Cyient continues to build on its growth strategy for the Asia Pacific region, specifically in aftermarket services for the aerospace industry.In September 2015, Cyient SRO, Czech Republic was established to provide engineering and data services to customers across the European Union.Infotech Geospatial India Private Limited (IGIPL), a wholly owned subsidiary of Cyient, was merged with the company effective 1 April 2015 vide order of the High Court of Judicature at Hyderabad for the states of Telangana and Andhra Pradesh dated 2 March 2016. This is mainly to simplify the operations in India.Cyient disinvested its 100% stake in Infotech Enterprises Information Technology Services Private Limited (IEITSPL) on 16 September 2015. This was in line with the companys strategy to focus on engineering and network operations services.Cyient ended FY 2016 with capital expenditure of Rs 778 million, which is 2.5% of total revenue. It is the lowest ever capex spend as % of revenue which is driven by companys focus on an asset light model, implementation of lease and buyback strategy and robust internal capex control.FY 2017 marked Cyients first year under its industry-focused organization structure, providing significant operational benefits, such as an increased momentum in strategy execution and new acquisitions to strengthen its Aerospace & Defense (A&D) and Geospatial capabilities. During the year under review, Cyients A&D business unit acquired Certon Software Inc. and its wholly owned subsidiary Certon Instruments Inc. Certon is an IP-led, innovative full product life cycle engineering services provider, offering services and solutions to companies seeking certification approval for safety-critical products. This has helped in expanding Cyients capabilities in model-based systems engineering tools and test automation. With this acquisition, Cyient aims to reduce risks and time-to-market for its clients new avionics products.Cyients Transportation business unit established an engineering center in Prague to expand its global footprint.Cyients Communication business unit rolled out several new service offerings around Information Technology Operations Analysis (ITOA), Software Defined Networking (SDN), rail communications, smart cities, small cells, and wireless coverage.Medical Technology and Healthcare (MTH) business unit finalized and began executing on its strategy to deliver services and solutions across the Design, Build, Operate & Maintain life cycle in the key medical segments of diagnostic imaging, in-vitro diagnostics, cardiology, and patient monitoring. Key milestones that the business unit achieved include consolidating business delivery leadership and operations, hiring key personnel and domain experts, expanding ISO 13485 certification. The company also developed key proof-of-concepts for leading medical technology companies and inaugurated two client-focused in-vitro diagnostics labs that will help it in project expansion and innovation.During the year under review, Cyient completed venture investments in two medical technology start ups that are developing innovative solutions for remote cardiac monitoring and diagnostics. Cyient also made a strategic investment in intellectual property that will enable the company to deliver tactical communication systems for Indian Defense Services and align very closely with the sectors preference for indigenous design, development, and manufacturing-an important cornerstone of the countrys Make in India initiative.During the financial year ended 31 March 2017, Cyients US subsidiary Cyient Inc. (CI) incorporated Cyient Defence Services Inc. as wholly owned subsidiary.In November 2016, Cyient SRO, based in Prague, the Czech Republic, completed the acquisition of Blom Aerofilms Ltd, the UK subsidiary of NRC Group from Norway. The business brings a team with complementary skills of around 40 associates, mostly based out of their offices in Cheddar, Somerset. The company is an ISO 9001 and ISO 27001 certified organization. Leveraging the global execution capability of its parent organization, it maintains client relationships and ensures efficient project management across Europe.After acquisition of a majority interest in Rangsons Electronics Pvt Ltd (REPL) in 2015, Cyient completed the integration and in 2017 renamed REPL as Cyient DLM Pvt Ltd. This is towards Cyients vision to provide a complete product life cycle solution (Design Led Manufacturing (DLM)) to its customers as part of its S3 strategy. During FY 2017, Cyient established its local presence in Israel to engage more closely with Israeli Defense OEMs who are significant clients for the companys Design-Led Manufacturing (DLM) business. Cyient has invested in local business development and consulting resources to strengthen its focus on this important market that has significant, long-term potential particularly around Indian Defence offsets opportunities. Cyient additionally engaged in an Israeli startup accelerator programme that gives the company access to partnerships around innovative technology for military, defense and homeland security applications.During the financial year ended 31 March 2018, Cyients Aerospace and Defence Business Unit (BU) continued to witness strong rise in demand for risk sharing business models from its clients.During the financial year ended 31 March 2018, Cyients US subsidiary Cyient, Inc. acquired B&F Design Services, a Connecticut based company, engaged in the design and manufacturing of tools, which will focus on machining development hardware for the aerospace and defense industry .Cyients Transportation BU witnessed a strong growth in FY 18 driven by growth in key clients and new wins.Cyients Semiconductor, IoT and Analytics BU made good progress in setting up verification and validation lab for key clients. The business unit also started working with a number of new clients. The company made two key investments. First was the acquisition of Ansem N.V. which specializes in advanced analog, radio frequency and mixed-signal integrated circuit design. AnSem N.V. specializes in advanced analog, radio frequency, and mixed-signal integrated circuit design. The company also signed a definitive agreement to acquire 100% ownership of Cyient Insights Private Limited (Cyient Insights). The company earlier owned 51% stake in the company. This investment will allow the company to provide integrated engineering and analytics solutions for its clients.Cyients Medical and Healthcare BU enhanced rigor on solutions by focusing on key industry segments of diagnostic imaging, orthopedics, in-vitro diagnostics, and cardiology. The company signed a partnership with Xynteo, an international advisory firm, as a partner organization in India 2022, a business-led coalition committed to creating a new model of growth by the 75th year of Indias independence. As part of this coalition, the company will focus on incubating and scaling projects aimed at delivering technology-enabled healthcare solutions, primarily focused on the diagnostics space in India. To leverage new technology and to drive non linearity in its business, Cyient started a new business unit called the New Business Accelerator (NBA). This group focuses on identifying and commercializing new solutions with an emphasis on emerging technology and innovation. NBA operates as an internal incubator and offers an intensive, startup-like environment to develop technology led solutions. NBA invests in and collaborates with academia, enterprise, and expert networks to bring compelling, innovative ideas to life. It is an endeavor to consistently improve the brands competitiveness and its value for stakeholders. Cyient ended the FY 2018 with capital expenditure of Rs 1,271 million, which is 3.2% of total revenue. In April 2017, Cyient Solutions and Systems Pvt. Ltd. (CSS) was established to focus exclusively on business in the Indian Defence Sector. CSS signed a collaboration agreement with BlueBird Aero Systems Israel to design, manufacture, and maintain UAV Systems for Indian defence, paramilitary and homeland security agencies. BlueBirds world-class technology combined with Cyients manufacturing, aftermarket capabilities and local presence offers exceptional value to the rapidly expanding market for UAV solutions in India. Infotech Aerospace Services Inc. (IASI) ceased to be an associate of Cyient Limited pursuant to the disinvestment of 49% stake in the entity with effect from 8 December 2017. IASI was an associate company between Cyient Limited and Pratt & Whitney, a pioneer in flight technology.Effective 1 April 2017, Techno Tools Precision Engineering Private Limited, Cyient DLM Private Limiteds (CDLMPL) wholly owned subsidiary, has been merged with its holding company, CDLMPL, pursuant to the order dated 2 April 2018 from National Company Law Tribunal. CDLMPL is a subsidiary of Cyient Limited.in FY 2018, Company acquired AnSem, Belgium, a well-known name in the design of analog and mixed-signal ASICs, to strengthensemiconductor and digital presence. It joined India 2022 business coalition enabled by advisory firm Xynteo in 2018 to lead the healthcare impact track; it launched MedTechConnect to deliver healthcare innovation.In FY2019, Company made corporate venture investments in two medical start-ups. It acquired the semiconductor firm, Ansem. It expanded access to fresh and industry-ready talent through direct digital campaigns and partnerships with educational institutions in India & North America respectively.In FY20, the Company strengthened its partnership by making a strategic investment in Rail cybersecurity company Cylus, a global leader in cybersecurity solutions. It signed a Statement of Intent (SoI) with Emergent Alliance, to use their combined data knowledge to provide new insights and practical applications to the global COVID-19 response. As part of this alliance, it is presently working with some of the worlds largest organizations, data specialists, and governments to support future decision-making on regional and global economic challenges. During FY20, the Company connected the facilitys machines to the IoT network using Cyient Edge Gateways and a business intelligence visualization dashboard. The digital information captured from machine data across the factory enables real-time customized views of job details, overall equipment, line efficiency, machine availability, machine downtime, machine utilization, cycle times, and production output. It captured 10,000 sq. ft. of factory space in a 3D point cloud data that was set to simulate the manufacturing facility within the virtual environment. It used virtual reality application to train associates in the virtual environment on critical safety and quality procedures, and facilitated virtual tours of the smart factory from anywhere across the globe. In FY21, Company acquired Integrated Global Partners (IGP), a specialist Australian consulting firm to strengthen digital and consulting capabilities in engineering and mining industries and expand its offerings for the local and regional resources sector. It made significant strategic investments toward workforce automation and transformation. It launched IntelliCyient, a suite of Industry 4.0 solutions that supports digital industrial transformation for asset-heavy enterprises. It received the recognition for robust and continued investment in achieving Esris ArcGIS Online, Release Ready, and Utility Network Management Specialties. It implemented a robust, cloud-based solution for the management of utility network data modeling that enhanced accessibility and connectivity.In FY 22, it acquired WorkForce Delta (WFD), a highly specialized technology company providing solutions for workforce management. Cyient announced that it was recognized by Amazon Web Services (AWS) as a Select-Tier Consulting Partner in the AWS Partner Network (APN). It announced the global AS9145 Supplier PPAP platform offering for aerospace use. It launched its Private 5G Networks Center of Excellence (CoE) and has signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology, Hyderabad, as a research partner for the CoE.In Jun 22, the Company acquired Celfient, a Portugal based company through Cyient Europe Limited, its wholly owned subsidiary. Similarly, it acquired Citec in Apr 22 to expand its footprint in the Nordic countries. It also acquired Citec Engineering India Limited in India, an international Wireless Engineering Services company. In Apr22, it acquired Grit Consulting, Singapore, through Cyient Singapore Pvt Ltd, a wholly owned subsidiary. In 2023, the Company launched CyFAST, CyMedge, and PlatformX solutions. In 2023-24, the CyientifIQ Experience Centre (CEC) was opened in Hyderabad in December, 2023. The Company also hosted the CyientifIQ Innovation League, its inaugural Global Hackathon, to extend crowd-sourcing ideas from a global talent pool. The Company incorporated Cyient Global Captive Solutions Private Limited as wholly owned subsidiary of the Company in February, 2024. Cyient has partnered with Deutsche Aircraft to design the Rear Fuselage Section of the D328eco, a 40-seater regional turboprop. Further, signed an agreement with Airbus to develop an IntelligentCore Management Platform for cabin services in FY24.