32nd Annual Report
2021-22
Unleashing Potential
Unleashing Potential
Over the last year, we’ve witnessed an unprecedented acceleration in the adoption of digital technologies that are transforming the world.
Today, software, combined with cloud technology, is literally the foundation of every experience in our lives, especially the experience of business. We’ve prepared ourselves for leadership in this new era over many decades and through hundreds of engagements with some of the world’s most innovative companies. Our strong and consistent performance in the past year is an outcome of our readiness for this moment in time and a testament to our team’s impeccable execution.
Our Expertise
Over 32 years, we’ve developed and invested in the Digital Engineering expertise that our clients now require to thrive in a software-driven, post-pandemic world. The demand for our comprehensive expertise that combines traditional software and product know-how with broader digital business and emergingtechnologies acumen is as strong as ever.
Our Clients
As trusted collaborators in the transformation agendas of our clients, we are working to engineer, deploy and integrate differentiating technologies that are driving industry innovation and unlocking new business value. Our work is helping organizations across industries to optimize cash, reduce costs and unlock growth through enhanced customer experiences and services.
Our People
Last year’s growth came with a significant infusion of talent and leadership across our business. It is our commitment to help each individual reach their full potential by providing world-class development programs — enabling global opportunities to work with the industry’s best and impacting the world in powerful, positive ways, using the latest technologies.
Our Ecosystem
Our partner ecosystem has been at the core of our strategy for many years, and today it is the bedrock of our success. Through organic and inorganic investments over the last few years, we’ve bolstered our skills, enhanced our joint value propositions and fortified the relationships required for growth in a world led by the cloud hyperscalers and other innovators.
Our Communities
We’ve always believed the world is one family. It is deeply ingrained in our values, culture and actions. We continue to help our communities emerge physically, economically and socially stronger through meaningful initiatives. We also include our employees and their families in our sustainability journey to build a healthier and stronger planet.
Message from the Chairman
I am delighted to present to you our 32nd Annual Report for Financial Year (FY) 2021-22. This year has been a remarkable year for all of us here at Persistent. We emerged more resilient and reinvigorated, and our confidence in our capabilities is reflected not only in our numbers but also in the trust that our clients have placed in us. I am grateful to our clients, partners, team members, and other stakeholders for their relentless collaboration to make this happen.
Dear valued Shareholders,
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Message from the Chairman
Message from the CEO
Dear valued Shareowners,
We are delighted to report yet another year of growth across all of our critical business metrics. It truly was a banner year for us, delivering 35.2% year-on-year (Y-o-Y) growth with $765.6 Million in FY revenue aided by 9% sequential quarterly growth for all four quarters in the financial year. Our ongoing operational discipline also helped us continue to improve our Earnings Before...
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We sincerely hope you and your loved ones are safe, healthy and happy.
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Last year, we were able to steer through the challenges of the unpredictable market conditions effectively...
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Unleashing Potential
32nd Annual Report 2021-22
Unleashing Potential
Over the last year, we’ve witnessed an unprecedented acceleration in the adoption of digital technologies that are transforming the world.
Today, software, combined with cloud technology, is literally the foundation of every experience in our lives, especially the experience of business. We’ve prepared ourselves for leadership in this new era over many decades and through hundreds of engagements with some of the world’s most innovative companies.
Today, our differentiated expertise, core values and deep partnerships are essential to our various stakeholders as we work to unleash their full potential.
Our Expertise
Over 32 years, we’ve developed and invested in the Digital Engineering expertise that our clients now require to thrive in a software-driven, post-pandemic world. The demand for our comprehensive expertise that combines traditional software and product know-how with broader digital business and emergingtechnologies acumen is as strong as ever.
Our Clients
As trusted collaborators in the transformation agendas of our clients, we are working to engineer, deploy and integrate differentiating technologies that are driving industry innovation and unlocking new business value. Our work is helping organizations across industries to optimize cash, reduce costs and unlock growth through enhanced customer experiences and services.
Our People
Last year’s growth came with a significant infusion of talent and leadership across our business. It is our commitment to help each individual reach their full potential by providing world-class development programs — enabling global opportunities to work with the industry’s best and impacting the world in powerful, positive ways, using the latest technologies.
Our Ecosystem
Our partner ecosystem has been at the core of our strategy for many years, and today it is the bedrock of our success. Through organic and inorganic investments over the last few years, we’ve bolstered our skills, enhanced our joint value propositions and fortified the relationships required for growth in a world led by the cloud hyperscalers and other innovators.
Our Communities
We’ve always believed the world is one family. It is deeply ingrained in our values, culture and actions. We continue to help our communities emerge physically, economically and socially stronger through meaningful initiatives. We also include our employees and their families in our sustainability journey to build a healthier and stronger planet.
Message from the Chairman
Dear valued Shareholders,
I am delighted to present to you our 32nd Annual Report for Financial Year (FY) 2021-22. This year has been a remarkable year for all of us here at Persistent. We emerged more resilient and reinvigorated, and our confidence in our capabilities is reflected not only in our numbers but also in the trust that our clients have placed in us. I am grateful to our clients, partners, team members, and other stakeholders for their relentless collaboration to make this happen.
Last year, we were able to steer through the challenges of the unpredictable market conditions effectively and achieve strong growth. We did this by aligning to our clients’ vision, focusing relentlessly on growth, and maintaining a strong operational rigour...
Read full message
Message from the CEO
Dear valued Shareowners,
We sincerely hope you and your loved ones are safe, healthy and happy.
We are delighted to report yet another year of growth across all of our critical business metrics. It truly was a banner year for us, delivering 35.2% year-on-year (Y-o-Y) growth with $765.6 Million in FY revenue aided by 9% sequential quarterly growth for all four quarters in the financial year. Our ongoing operational discipline also helped us continue to improve our Earnings Before Interest and Taxes (EBIT) margin, ending +56.1% Y-o-Y. This performance resulted in a market-leading shareholder value creation, as we delivered over 143% return and a market capitalization of $4.3 Billion at year end. We are proud to share that based on this consistent top and...
Read full message
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Today, our differentiated expertise, core values and deep partnerships are essential to our various stakeholders as we work to unleash their full potential.
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FY22
Performance Highlights
Contents
Unleashing the Potential of Our Expertise
Unleashing the Potential of Our Clients
Unleashing the Potential of Our People
Unleashing the Potential of Our Ecosystem
Unleashing the Potential of Our Communities
Environmental, Social and Governance
Persistent Foundation
Awards & Recognition
32nd Annual Report 2021-22
32nd Annual Report 2021-22
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32nd Annual Report 2021-22
32nd Annual Report 2021-22
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Our strong and consistent performance in the past year is an outcome of our readiness for this moment in time and a testament to our team’s impeccable execution.