DEAR SHAREHOLDERS,
FY25 has been a landmark year for Cyient DLM—defined by robust
financial performance, operational excellence, and sustainable growth. We achieved strong
revenue growth and improved margins, driven by our investments in technology,
customer-centric innovation, and manufacturing excellence. Despite global economic
headwinds, our agility and strategic focus have enabled us to exceed expectations and
deliver long-term value. The rapid rise in electronics consumption, coupled with shifting
geopolitical landscapes and ongoing trade wars, is redefining global manufacturing
priorities. India is increasingly being recognized as a preferred destination for
electronics manufacturing, and we are uniquely positioned to capitalize on this momentum
and support our customers in building secure, future-ready supply chains amid evolving
global dynamics. Cyient DLM achieved a significant milestone this year by acquiring Altek
Electronics, a prominent U.S.-based Electronic Manufacturing Services (EMS) provider. This
strategic acquisition enhances our presence in the North American market, particularly in
the Medical & Healthcare, Industrial, and Defense sectors. Altek's ITAR
certification strengthens our capabilities to serve the U.S. Defense market, aligning with
our commitment to regulated, safety-critical industries. The integration adds 80,000
square feet of advanced manufacturing capacity, expanding our global footprint and
enabling us to offer high-quality, reliable services to a diverse customer base, including
Fortune 500 companies. With a strong base in India and expanding operations in the United
States, we offer a resilient, dual-shore delivery model that aligns with the growing need
for supply chain diversification. Our global presence allows us to navigate trade
complexities effectively while offering customers agility, compliance, and proximity to
end markets. are also committed to developing talent through upskilling, innovation, and
culture anchored in our Values FIRST—Fairness, Integrity, Respect, Sincerity, and
Transparency. Our AGILE culture where we nurture ambition, growth mindset, inclusion,
leadership, and empowerment continues guide our associates lead with purpose and
adaptability, enabling them drive innovation and social impact. Through the Cyient
Foundation and our broader ESG efforts, we have advanced green practices, community
engagement, and strong governance frameworks. long-term sustainability goals include
achieving carbon neutrality, enhancing social impact, and further strengthening ethical
practices. During the year, we expanded our sustainability initiatives by enhancing energy
efficiency, scaling adoption of renewable energy, and embedding circular economy
practices. FY25 alone, we have installed 500 kWp solar panels in our Mysuru plant,
resulting in 80% of our Mysuru operations being on renewable energy.
We remain focused on amplifying this impact across other facilities in
the year ahead. We are also actively supporting community development by prioritizing
education, skill-building, and women's empowerment. Our initiatives, including Rural
Micro Skill Centres (RUMSC) and environmental protection programs, aim to uplift
underprivileged groups, ensuring equal opportunities and fostering sustainable progress.
Looking ahead, we remain focused on scaling globally and becoming a preferred partner in
high-reliability electronics manufacturing. With a fully digital, sustainable, and
customer-driven approach, we are building a future-ready enterprise committed to
innovation, resilience, and excellence.
My sincere thanks go to my fellow Board Members, for their strategic
oversight and governance, and to our leadership team worldwide, for their tireless efforts
and steadfast focus. As we move into FY26, the board has entrusted Mr. Rajendra
Velagapudi, Managing Director, with overseeing the company's operations, following
Mr. Anthony Montalbano's decision to step down from the CEO position. The board is
confident that under Rajendra's leadership, Cyient DLM is well positioned to drive
sustainable growth through innovation and operational excellence. On behalf of the entire
board, I also extend our best wishes to Dr. Ajay Kumar, as he steps down as an Independent
Director on our board and embarks on his journey as Chairman of the UPSC. I am grateful to
him for his invaluable counsel and deep expertise which will continue to inspire and guide
us. I extend my gratitude to our shareholders for your continued trust and support. I also
thank our employees, customers and partners for their unwavering commitment to our shared
vision. With optimism and determination, we look forward to another year of Building
Tomorrow Together.
Warm regards,
Krishna Bodanapu
Chairman