To coincide with its 25th anniversary, Cyient, a global provider of engineering, manufacturing, networks and operations services and analytics solutions today articulated‘ Cyient 3.0’to describe the company’s vision and differentiated growth strategy. Over the last two years, Cyient has been decisively transforming its industry portfolios to position itself as a Design-Build-Maintain partner that can capitalize on very significant market opportunities in the areas of engineering design, manufacturing and aftermarket services.
Commenting on the occasion, Mr. BVR Mohan Reddy, Founder & Executive Chairman Cyient, said “Our efforts over the last 25 years have been to drive the growth of engineering R&D services out of India. Today, we are proud to say that Cyient led the way for our industry to gain global recognition. We are now uniquely placed to partner with our customers to develop innovative solutions that can shape a better future.”
Design–Build-Maintain Strategy to drive next phase of growth
Elaborating on its strategy, Mr. Krishna Bodanapu, Managing Director &CEO Cyient said “We intuitively sensed that our opportunities extend beyond design services to collaborating across our customer’s value chain, helping them build and maintain their products. That thinking underpins our Design–Build-Maintain strategy and the capabilities and experience we acquired over the last 25 years gives us a very robust platform to execute successfully”.
Cyient is an acknowledged leader in engineering and network design, technology solutions and geospatial services. The company has been closely involved in the design of a game-changing commercial aircraft engine that redefines fuel efficiency, noise and carbon emission levels; has supported the automation of rail signalling systems that significantly improve speed and passenger throughput; is helping communication services providers design and roll out their next generation networks; has helped to deliver the gold standard in navigation data for over two decades; and maintains digital land records that benefit rural economies
Over the last two years, Cyient has acquired capabilities in electronics and mechanical manufacturing, analytics, service management/assurance and engine repair development .Cyient is also actively investing in emerging technologies including Internet of Things (IoT), analytics, additive manufacturing and mobility to support a new era of Digital Transformation opportunities. Combined with its core engineering, networks and geospatial competencies these strategic initiatives uniquely position Cyient as a Design-Build-Maintain partner in its focus industries.
The world-class Cyient Experience Center provides the company with its own start-up environment for ideas and innovation and also fosters collaboration with clients and technology partners. Additionally, Cyient has made corporate venture investments in two start-ups in the Medical Technology space that offer innovative solutions for cardiac monitoring and diagnostics and focus on affordable healthcare in India. The company has also invested in a design center in Prague, Czech Republic that provides specialized engineering services and has redoubled its focus on defence electronics and offset opportunities by establishing its Israel subsidiary.
Initiatives announced to mark 25 years of Cyient’s operations
On 28 August Cyient completed 25 years of operations. To mark the occasion, the company has announced several initiatives to recognize and reward its stakeholders including employees, investors and society.
Talking about the initiatives, Mr. B V R Mohan Reddy, Founder and Executive Chairman Cyient, said “Cyient was built on the philosophy of creating value for all its stakeholders. Over the years we have consistently delivered value to our customers becoming their preferred partners, our employees who have made us a strong engineering and technology brand, our investors who have seen their investments grow multifold and society which we serve through the Cyient foundation.”
In appreciation of the trust vested in the company by its shareholders, Cyient on 29 August announced a special dividend of ₹2.50 (50% on a face value of ₹5) per share for its shareholders.
Recognizing the contribution and commitment of its employees, Cyient also announced a share-based incentive scheme called Restricted Stock Units Scheme (RSUs). Employees with more than one year tenure with the company will receive individual grants entitling them to a specified number of company shares. This single action is expected to increase the number of shareholders by 50% and ensure that over 10,000 employees also become owners of the company resulting in the payout of ₹34 Crore (6 million US Dollars) to its employees and an equivalent amount as dividend to its shareholders.
In a far reaching move, Cyient on 29 August launched 54 Cyient Digital Centers (CDCs)across Serilingampally Mandal government schools in Ranga Reddy district, Telangana as part of its CSR initiative. The CDCs aim to provide high-quality digital educational resources to community members and underprivileged students, and accelerate digital literacy. This will not only equip the community and children on the use of computers but also empower them to actively participate in the country’s development process. The CDCs will touch the lives of more than 20,000+ underprivileged children. Additionally, each center is expected to train 1000 community members from the surrounding areas to operate a computer or a digital access device and use the Internet. 50,000 pus citizens from the age of 16 to 60 years are likely to benefit from this initiative.
“We always believed that we need to be equitable to every stakeholder who has made us successful. Cyient has enjoyed extraordinary successes over the past 25 years only because of the commitment and trust vested in us by our stakeholders. It is this trust that motivates us to aim higher, work harder and achieve further.”Mr. Krishna Bodanapu, Managing Director and CEO Cyient, added.
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