\
Using technology solutions
\
Carbon offsetting
2026: Emit zero emissions from building operations
2028: Reduce 80% emissions from our global operations including business travel and supply chain
2030: Net zero emissions
Reduce GHG emissions using technology solutions
Nurture diverse talent and foster local communities
Achieve 35% female representation in the workforce with a special focus on senior management
Increase women in senior management by 2% Y-o-Y
Implement holistic well-being initiatives focusing on physical, social, financial and emotional health
\
\
\
Create value for stakeholders by integrating ESG with our business
Use information governance to effectively manage data privacy & security related risks
\
\
\
\
Our ESG Ambitions
We are dedicated to working with our people, clients, partners, and communities to build a more equitable, sustainable and healthier world through the application of technology and engineering.
The ESG journey is a continuous and evolving process. There cannot be a hard stop or final destination. Instead our journey towards excellence is monitored and measured through our goals which is represented as our ESG roadmap. Our objective is to continue inspiring our internal and external stakeholders.
There are no shortcuts for success. Similarly, bold goals cannot be met overnight. In order to ensure that we attain a steady and continuous progress towards our goals, we have identified metrics which will lead us towards our goals.
Environmental
Climate Action
\
Net zero climate action commitment to reducing GHG emissions by 2030 will be achieved by:
\
Science based targets (SBTi)
\
Sourcing 100% renewable energy
Water Stewardship
\
2028: Reduce freshwater
consumption and achieve 100% wastewater recycling in owned campuses
\
Increase ground water recharge and water storage capacities in water affected regions
Social
Inclusive Workforce
\
Enhance diversity and inclusion across genders, ethnicities, sexual preferences, religions and specially-abled persons
Employee Health & Safety
\
Ensure work-life harmony to achieve professional and personal goals
\
Maintain zero accidents in the workplace
Sustainable Livelihood
Touch lives to deliver high-impact programs in education, community development and health for diverse beneficiaries
\
Attract and Nurture Talent
\
2023: Achieve learning coverage of 90%
\
2024: Nurture long-term employees to get
them ready for senior management roles
\
Ensure a healthy mix of internal & external talent
Supply Chain Sustainability
By 2028: Enhance supplier
standards of conduct and
selection of 50% vendors with
focus on ESG performance
\
Governance
Ethical Conduct
\
2023: 100% training in code of conduct
\
Zero tolerance for unethical & non-compliant behavior
Risk & Compliance
To be recognized as industry leader in information security & cloud practices
\
Human Rights
\
Protect the rights of all employees across all locations
\
Practice “One Persistent, One Family”
32nd Annual Report 2021-22
Environmental, Social and Governance Report 2021-22
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Environmental, Social and Governance Report 2021-22
Vasudhaiva Kutumbakam
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Message from the Chairman
It is my privilege to present to you our inaugural ESG Report.
Ever since our inception, we have been committed to maintaining the highest standards of ethics and integrity, and we believe that we must be socially responsible and accountable for our actions.
Global challenges around pollution, climate change and demographic polarization lead to inequitable distribution of food, water, healthcare, data security and privacy...
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Message from the CEO
It is my pleasure to share with you our first ESG Report 2021-22. This report highlights the Company’s efforts to jointly work with our employees, clients, partners, and communities to be true stewards of the global resources we’ve been entrusted with.
The first key to corporate sustainability, is, of course, for your Company to achieve financial sustainability. Our resilient business model accompanied by an empowered workforce have helped us optimize our business operations...
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Message from the
Chief of Operations and Head of Sustainability
At Persistent, being aware and wanting to make a difference to the world we live in has been one of our core values. As a socially and environmentally responsible organization, we are fully committed to creating a positive impact for all our stakeholders.
Environmental, social and governance has always been close to our hearts and our journey has been ongoing for some time through our corporate social responsibility (CSR) programs, environmental initiatives, and ethical corporate...
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“The world is one family” reflects our belief that the way we do business is inextricably linked to our sustainability goals which reinforce the trust our stakeholders place on us. This allows all of us to think and act more holistically and responsibly for the benefit of our people, our society, and our planet. This report is a testament to how this interconnectedness has been expressed over the past 32 years across our organization, allowing us to live our values and emerge as a more sustainable, ethical, and responsible organization.
Highlights of the Year
Persistent employees worldwide rose to the challenge in so many ways in FY 2022, leading to impressive growth in revenue, market share, value creation and delivery.
Revenue ($ Million)
+35.2%
566
FY21
766
FY22
Revenue (₹ million)
+36.4%
41,879
FY21
57,108
FY22
EBIT (₹ million)
+56.1%
5,075
(Margin 12.1%)
FY21
7,922
(Margin 13.9%)
FY22
PAT (₹ million)
+53.2%
4,507
(Margin 10.8%)
FY21
6,904
(Margin 12.1%)
FY22
We also experienced a 36% increase in our employee growth during the reporting period.
9,962
2019
10,632
2020
13,680
2021
18,599
2022
Figure 1: PSL’s full year performance
We believe in working towards the greater good to ensure holistic growth for our business and the society. As a part of our ESG journey, we have also set targets that focus on our commitment towards creating a positive impact with regards to climate change, diversity and inclusion, and the well-being of our stakeholders.
ESG Performance
units of energy conserved YoY
more water recycled, YoY
Environmental
electricity from Renewable Energy sources
trees planted taking overall total to 79,290
Workforce
total workforce
increase in employee participation in ESG activities
Social
100,042
beneficiaries impacted
₹ 115.5 M
spent on CSR activities
Operations
18 countries
operational presence
38
awards & recognitions
544 K
22.3%
60%
59,500
18,599
3.6%
Economic
₹ 54,140 M
total assets
₹ 364,188 M
total capitalization, 129th rank as per market capitalization
Awards & Recognition
Technology
Leading IT analyst and advisory firms continue to recognize the client value we are delivering through our differentiated Digital Engineering expertise, growing partner ecosystem and enviable cloud portfolio.
Persistent recognized by Everest Group as one of the top 15 Engineering Services Providers of the Year 2022
Persistent won four ISG Star of Excellence Awards™ in 2021 for best-in-class CX:
Analytics
Intelligent Automation
Manufacturing
Salesforce
ISG Digital Case Study Awards™ recognized Persistent in partnership with LungLife AI for its AI and ML algorithms that help in accelerating cancer detection
Recognized as a Leader in ISG Provider Lens™ Archetype Report on Next Generation Cloud Services
Recognized as a Top 15 Sourcing Standout for Managed Services in the ISG Global Index™ “Booming 15” category for 9 consecutive quarters
Won top positions in Zinnov Zones Engineering Research & Development Services 2021 ratings for the 9th consecutive year
Recognized as leader in Zinnov Zones 2021 Hyper Intelligent Automation Services
Recognized as one of the Top 15 Engineering Services Providers of 2022 by Everest Peak Matrix®
Named Partner of the Year in Americas for the “Creation and Delivery of Exceptional Solutions” for 3rd year in a row
Constellation Shortlist™ for Innovation Services and Engineering for 4th year in a row
Persistent recognized as a Leader in Global Technology Research & Advisory Firm Information Service Group’s Provider Lens™ Archetype Report on Next Generation Cloud Services
Persistent won four ISG Star of Excellence Awards™ in 2021 for best-in-class CX
Corporate
Our legacy of high corporate standards set us apart and position us as leaders in corporate governance. Our business ethics and operational excellence have been applauded across the industry.
Persistent named in Forbes Asia's 200 Best Under A Billion 2021 list
Won Dun & Bradstreet Corporate Award in ESG Performance (Services) category
Persistent Mexico received the Jalisco badge for good labor practices and full compliance with labor regulations
Won first place in ‘Excellence in Sustainability’ and first runner-up in “Emergency Preparedness & Business Continuity” at Inventicon Awards
Won ‘Energy Conservation and Management’ award in 16th Maharashtra Energy Conservation & Management Competition by Maharashtra Energy Development Agency
People
Prestigious institutions across the world have recognized the strength of our culture and relentless focus on learning and development to help our people grow and our teams thrive.
Won “Corporate Vaccination Campaign” and “Hygiene @ Workplace” awards
Our Learning & Development team won Training APEX Awards 2022
TISS LeapVault CLO Awards:
\
Best Corporate University
\
Best Games Based Learning
\
Best Quality Management
\
Best Improvement Training Program
Won the Bronze Award for "Excellence in Team Building Engagement" from ETHRWorld
Recognized for excellence in Learning and Development at the SHRM HR Excellence Awards
Environmental
Conserving our planet
2 MW solar rooftop
2.5 K t CO e
2
Reduction per year
2 Windmills, 2.1 MW each
6 K t CO e
2
Reduction per year
Certified
ISO 14064
Since 2015-16
Governance
7/11
Independent Directors on Board
2/11
Women
Code of Conduct
Fully committed to the Code of Conduct
91 M
liters of water recharged
60%
of electricity generated from renewable sources
59,500
trees planted
Social
Nurturing our people, diversity & inclusion
39
Nationalities
31.4%
Women
1 M+
lives touched through our CSR initiatives
Work-life Harmony
Ensured with comprehensive employee welfare policies
Flagship social programs
Including hackathons to drive innovation and trainings to nurture talent
COVID-19 Relief Efforts
8 K+
Students supported under Education Bridging Learning Gaps Project
22 K+
Food ration kits to families
1 K+
Volunteering hours contributed by our employees
180
Oxygen concentrators, high flow oxygen machines, oxygen plants, ventilators
35
Hospitals, NGOs and government departments supported
569
Entrepreneurship programs supported
Leading with integrity
1
2
3
The World is One Family
Technology
Leading IT analyst and advisory firms continue to recognize the client value we are delivering through our differentiated Digital Engineering expertise, growing partner ecosystem and enviable cloud portfolio.
ISG Digital Case Study Awards™ recognized Persistent in partnership with LungLife AI for its AI and ML algorithms that help in accelerating cancer detection
Recognized as a Leader in ISG Provider Lens™ Archetype Report on Next Generation Cloud Services
Recognized as a Top 15 Sourcing Standout for Managed Services in the ISG Global Index™ “Booming 15” category for 9 consecutive quarters
Persistent won four ISG Star of Excellence Awards™ in 2021 for best-in-class CX:
Analytics
Intelligent Automation
Manufacturing
Salesforce
Won top positions in Zinnov Zones Engineering Research & Development Services 2021 ratings for the 9th consecutive year
Recognized as leader in Zinnov Zones 2021 Hyper Intelligent Automation Services
Recognized as one of the Top 15 Engineering Services Providers of 2022 by Everest Peak Matrix®
Named Partner of the Year in Americas for the “Creation and Delivery of Exceptional Solutions” for 3rd year in a row
Constellation Shortlist™ for Innovation Services and Engineering for 4th year in a row
Corporate
Our legacy of high corporate standards set us apart and position us as leaders in corporate governance. Our business ethics and operational excellence have been applauded across the industry.
Persistent named in Forbes Asia's 200 Best Under A Billion 2021 list
Won ‘Energy Conservation and Management’ award in 16th Maharashtra Energy Conservation & Management Competition by Maharashtra Energy Development Agency
Won Dun & Bradstreet Corporate Award in ESG Performance (Services) category
Persistent Mexico received the Jalisco badge for good labor practices and full compliance with labor regulations
Won first place in ‘Excellence in Sustainability’ and first runner-up in “Emergency Preparedness & Business Continuity” at Inventicon Awards
People
Prestigious institutions across the world have recognized the strength of our culture and relentless focus on learning and development to help our people grow and our teams thrive.
Our Learning & Development team won Training APEX Awards 2022
TISS LeapVault CLO Awards:
\
Best Corporate University
\
Best Games Based Learning
\
Best Quality Management
\
Best Improvement Training Program
Won “Corporate Vaccination Campaign” and “Hygiene @ Workplace” awards
Won the Bronze Award for "Excellence in Team Building Engagement" from ETHRWorld
Recognized for excellence in Learning and Development at the SHRM HR Excellence Awards
Highlights of the Year
Persistent employees worldwide rose to the challenge in so many ways in FY 2022, leading to impressive growth in revenue, market share, value creation and delivery.
Revenue
($ Million)
+35.2%
566
FY21
766
FY22
Revenue
(₹ Million)
+36.4%
41,879
FY21
57,108
FY22
EBIT
(₹ Million)
+56.1%
5,075
(Margin 12.1%)
FY21
7,922
(Margin 13.9%)
FY22
PAT
(₹ Million)
+53.2%
4,507
(Margin 10.8%)
FY21
6,904
(Margin 12.1%)
FY22
Read full message
Read full message
Our ESG Ambitions
Environmental, Social, Governance \
We are dedicated to working with our people, clients, partners, and communities to build a more equitable, sustainable and healthier world through the application of technology and engineering.
The ESG journey is a continuous and evolving process. There cannot be a hard stop or final destination. Instead our journey towards excellence is monitored and measured through our goals which is represented as our ESG roadmap. Our objective is to continue inspiring our internal and external stakeholders.
There are no shortcuts for success. Similarly, bold goals cannot be met overnight. In order to ensure that we attain a steady and continuous progress towards our goals, we have identified metrics which will lead us towards our goals.
Environmental
Reduce GHG emissions using technology solutions
Climate Action
\
Net zero climate action commitment to reducing GHG emissions by 2030 will be achieved by:
\
Science based targets (SBTi)
\
Sourcing 100% renewable energy
\
Using technology solutions
\
Carbon offsetting
\
2026: Emit zero emissions from building operations
\
2028: Reduce 80% emissions from our global operations including business travel and supply chain
\
2030: Net zero emissions
Water Stewardship
\
2028: Reduce freshwater consumption and achieve 100% wastewater recycling in owned campuses
\
Increase ground water recharge and water storage capacities in water affected regions
Social
Nurture diverse talent and foster local communities
Inclusive Workforce
\
Enhance diversity and inclusion across genders, ethnicities, sexual preferences, religions and specially-abled persons
\
Achieve 35% female representation in the workforce with a special focus on senior management
\
Increase women in senior management by 2% Y-o-Y
Employee Health & Safety
\
Ensure work-life harmony to achieve professional and personal goals
\
Maintain zero accidents in the workplace
\
Implement holistic well-being initiatives focusing on physical, social, financial and emotional health
Sustainable Livelihood
Touch lives to deliver high-impact programs in education, community development and health for diverse beneficiaries
\
Attract and Nurture Talent
\
2023: Achieve learning coverage of 90%
\
2024: Nurture long-term employees to get them ready for senior management roles
\
Ensure a healthy mix of internal & external talent
Supply Chain Sustainability
By 2028: Enhance supplier standards of conduct and selection of 50% vendors with focus on ESG performance
\
Governance
Create value for stakeholders by integrating ESG with our business
Ethical Conduct
\
2030: 100% training in code of conduct
\
Zero tolerance for unethical & non-compliant behavior
Risk & Compliance
To be recognized as industry leader in information security & cloud practices
\
Use information governance to effectively manage data privacy & security related risks
\
Human Rights
\
Protect the rights of all employees across all locations
\
Practice “One Persistent, One Family”
1
2
3
(including Employee Welfare)
We believe in working towards the greater good to ensure holistic growth for our business and the society. As a part of our ESG journey, we have also set targets that focus on our commitment towards creating a positive impact with regards to climate change, diversity and inclusion, and the well-being of our stakeholders.
Awards & Recognition
Download Report
(including Employee Welfare)
By 2028: Achieve 35% female representation in the workforce with a special focus on senior management
By 2028: Achieve 35% female representation in the workforce with a special focus on senior management