Persistent Systems reports strong growth: 20.3% Y-o-Y for Q4 and 12.9% for FY21

Reports 4.6% sequential Q-o-Q growth

SANTA CLARA, Calif. and PUNE, India, April 29, 2021 /PRNewswire/ --

News Summary

Persistent Systems (BSE: PERSISTENT) (NSE: PERSISTENT) announced the Company's audited financial results for the quarter and year ended March 31, 2021, as approved by the Board of Directors.

Consolidated Financial Highlights for the Financial Year 2020-2021

Consolidated Financial Highlights for the Quarter ended March 31, 2021

The Board of Directors at its meeting held on April 29, 2021, recommended final dividend of INR 6.00 per share on the face value of INR 10.00 each. In January 2021, the Board declared an interim dividend of INR 14.00 per share making total dividend of INR 20.00 per share. The dividend recommended by the Board is subject to the approval of the Members during the ensuing Annual General Meeting.

Anand Deshpande, Founder, Chairman and Managing Director, Persistent Systems:

"This year was tough. We sincerely pray for everyone's well-being. The pandemic brought on the rapid shift to remote work, and I want to recognize the resilience shown by our employees. They ensured continuous, high-quality service delivery, demonstrating our unwavering commitment to our customers. Thank you to our customers and partners for their continued support."

Sandeep Kalra, Executive Director and Chief Executive Officer, Persistent Systems:

"We are happy to conclude FY21 on a high note, with double digit growth in both our revenue and EPS. Our performance demonstrates the alignment between Persistent's core strengths in digital engineering and our clients' needs as they accelerate to the next wave of transformation. We are confident that efforts to strengthen our leadership team, partner ecosystem, and operational excellence will continue to be the foundation of our success. The Persistent Foundation continues to contribute towards COVID relief efforts globally and we continue to support our employees during these challenging times."

Fourth Quarter FY21 Client Wins and Outcomes

Software, Hi-Tech & Emerging Industries

• Engineering and GTM partnership for a portfolio of security products for a global technology leader
• Building a Center of Excellence for a leading low code technology provider to deliver transformation for their customers in BFSI and HLS segments
• Managing end-to-end IT operations using Persistent Intelligent Operations for a leading US-based marketing and events management company

Banking, Financial Services & Insurance

• Building a digital lending portal and modernizing the payments platform for the commercial group at a top 5 US bank
• Migrating critical data to AWS Cloud with integrations for consumer offerings for a Fortune 25 financial services ISV
• Developing Salesforce-based digital loan platforms for consumer lending for two leading Indian banks

Healthcare & Life Sciences

• Delivering intelligent visualization and BI dashboard for COVID-19 vaccine shipments for a leading cold-chain distribution company
• Building a Digital Front Door and Patient Experience solution with integration into EMR systems and patient portals for a leading US health system
• Executing an enterprise-wide legacy modernization program leveraging MuleSoft and automation for a leading clinical research organization

Partner Ecosystem

• NAFCU Services Announces Persistent Systems as Preferred Partner for Digital Transformation including Cloud-Based Technologies
• Persistent and FinMkt Partner to Bring Point of Sale Digital Lending Solutions to Banks and Credit Unions
• OpenShift makes running Kubernetes easy. Now AWS ROSA makes that even easier

Analyst Recognition & Awards

• Persistent Systems Awarded Coveted 2020 Golden Peacock for Corporate Governance
• Persistent cited as Leader in ISG's Salesforce Ecosystem Partners 2021 Report for Salesforce Services in U.S.
• Constellation Research ShortList™ Recognizes Persistent Systems for Innovation Services & Engineering Q1 2021
• Persistent Systems was cited as a Strong Performer in the Forrester Wave: Digital Process Automation Service Providers, Q3 2020
• For Fourth Quarter Running, Persistent named Top 15 Sourcing Standout for Managed Services in Q4 2020 Global ISG Index™ "Booming 15" Category
• Persistent named a Star Performer in Everest Group's Software Product Engineering Services PEAK Matrix^® Assessment 2021
• Zinnov Leader 8 Years in a Row- Leader in consumer & enterprise software engineering as well as digital, AI, cybersecurity & platform categories
• Everest Group names Persistent a "Major Contender" in their Salesforce Healthcare Services PEAK Matrix^® Assessment 2021

Other News

• Forbes: The Refactoring X-Factor Behind Software Modernization
• The Economic Times: The making of the great Indian Cancer-Genome Atlas, a dedicated database to enable curated therapies
• The Economic Times: Persistent Systems to Expand its Presence in the US
• The Times of India: Engg R&D rainmakers bag mega deals from home offices
• ComputerWeekly: Containerisation in the enterprise- Persistent Systems: The "spectrum" of legacy containerisation
• The Enterprisers Project: Artificial Intelligence and privacy: 3 key security practices

About Persistent

With over 13,500 employees around the world, Persistent Systems (BSE: PERSISTENT) (NSE: PERSISTENT) is a global services and solutions company delivering Digital Engineering and Enterprise Modernization.

www.persistent.com

Forward-looking and Cautionary Statements
For risks and uncertainties relating to forward-looking statements, please visit persistent.com/FLCS.

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Media Contacts

Emma Handler
Persistent Systems (Global)
+1 617 633 1635
emma_handler@persistent.com

Saviera Barretto
Archetype
+91 84249 17719
saviera.barretto@archetype.co

Related Links

https://www.persistent.com