Cigniti Technologies Ltd - Interim / Quarterly Report 2022

. Cigniti Technologies Ltd Investor Update

Q2 & H1-FY22

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Q2 FY22 Highlights

» The Company accelerated its revenue in the current quarter by 16.5% to Rs. 307.90 Cr. in comparison to previous quarter.
» The Company during the quarter has won 16 new clients.
» The Company has invested in additional manpower in line with its business transformation initiatives and commencement of outcome-based contract, which has subdued the EBITDA.
» Operational EBITDA for the September quarter was at 41.66 crore and EBITDA margin stood at 13.5%.
» The Reported EBITDA was at Rs 31.92 crore and EBIDTA margin stood at T
10.4% due reversal of SEIS benefit amounting to Rs. 974.11 lakhs pertaining to the financial year 2019-2020, pursuant to notification no. 29/2015-2020 dated September 23, 2021, issued by Ministry of Commerce & Industry.
» Cigniti expands its global footprint in Central Europe with opening of an office in Czech Republic.
» Forrester Research recognized Cigniti as Strong Performer in Continuous Automation & Testing Services. ISG recognized Cigniti as Leader in Continuous Testing.
» The company has adopted new tax regime in India in the current financial year.

307.90

Revenue (INR in Cr.)

10.4% EBITDA

7.2%

PAT

56 Days DSO

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230+

Active Clients 50+ Fortune 500 Clients

10+

Delivery Locations

Offices in 9

Countries

3100+ Cignitians

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EBITDA & PAT Analysis (FY: 21-22)

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Particulars		INR Crores	INR Crores
	Q1	Q2	6M' 2021-22
EBITDA (Reported)	24.31	31.92	56.23
*In %*	*9.2%*	*10.4%*	*16.5%*
Add: SEIS Reversal	-	9.74	9.74
	-	-	-
Normalized EBITDA	24.31	41.66	65.97
*In %*	*9.2%*	*13.5%*	*11.5%*

Particulars	INR Crores	INR Crores	INR Crores
	Q1	Q2	6M' 2021-22
PAT (Reported)	20.42	22.17	42.59
Add: SEIS Reversal	-	9.74	9.74
Normalised PAT	20.42	31.91	52.33
Normalised PAT %	7.7%	10.4%	9.1%
	*Adjusted EPS*		*18.67*
	*Reported EPS*		*15.19*

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Q2FY22 Financials (INR in Cr.)

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Revenue Q2 Resource Mix Q2 Revenue Mix
Onsite
21%
Onsite Offshore
T 51% 49%
Offshore [ 52%] [ 48%]
79%
[ 78%]
[ 52 % ]
Data in [ ] for Q1
www.cigniti.com | Unsolicited Distribution is Restricted. Copyright © 2021-22, Cigniti Technologies 4
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Client Composition / Geography Mix of Revenue

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CLIENT CONTRIBUTION TO REVENUE (%) ACTIVE CLIENTS AND NEW CLIENTS Clients Q1 FY22 Q2 FY22 Number of Active Clients 233 231 New Clients Added 28 16 www.cigniti.com | Unsolicited Distribution is Restricted. Copyright © 2021-22, Cigniti Technologies

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Em lo ee Metrics p y

UTILIZATION

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	Utilization Q1 FY22 Q2 FY22 Onsite 95.6% 95.6% Offshore 76.7% 84.0%			Resource Mix Q1 FY22 Q2 FY22 Onsite 20.8% 21.2% Offshore 79.2% 78.8%

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Revenue By Sector (%)

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Ci niti’s Core Service Offerin s for Lar e Enter rise Clients g g g p

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Quality Assurance and Traditional Offerings

Quality Engineering and Specialized Offerings

Performance Engineering
Security Testing
• Functional Testing
Service Virtualization
Test Data Management
Test Automation
Tools Streamlining
Globalization Testing
• End to End Automation • Performance Testing
• DevOps Enablement • Compatibility Testing
• Test Environment Management •
• Regression Testing Resiliency and Reliability Testing

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Digital and Next Generation Offerings

IoT Assurance
Cloud Assurance
Omni and Multi-Channel Testing
AI testing
• Block chain Testing
Robotics Automation
Mobile Testing
Customer Experience Testing

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Board Members

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Led by Dedicated Promoters & Managed by Professional Leadership Team

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C V Subramanyam , Chairman and Managing Director

In 1998, Mr. Subramanyam founded Chakkilam Infotech Pvt. Ltd. as an IT services company providing IT solutions
Successfully took the company public in 2004
Holds a Bachelors in Commerce and Law and Post Graduate Diploma in Business Management

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Srikanth Chakkilam , Chief Executive Officer, Cigniti Technologies Inc.

Drives client acquisition strategies, provides oversight to Sales, sets business targets, and maintains the P&L and related activities
Key decision maker in the vision and growth of Cigniti & plays a vital role in evaluating, analyzing & deciding Cigniti’s pursuits related to inorganic growth
Focused to build a highly successful, impactful and ethical business in all forms
Has an MS from the University of Southern California

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Krishnan Venkatachary CFO

Pradeep G CTO & President (NA West)

Krishnan brings to Cigniti over 25 • Pradeep as CTO is responsible for years of experience spanning global revenue targets and business growth financial operations. Is a qualified ACA, for Cigniti’s NA West operations. He is ACS and FCMA an industry thought leader in software
• Previous experience: Yashoda testing with over 15 years of experience
Previous experience: Yashoda Hospitals, Flagstone Underwriting Support Services, VisualSoft Technologies, Baan Info Systems
Previous experience: Cognizant Technology Solutions, HTC Global services

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Kalyana Rao Konda President (NA East)

Kalyana drives the growth of Cigniti's NA East business to meet the colocated testing services requirements in the US. Is a certified Project Management Professional (PMP) and a Certified Software Quality Analyst (CSQA)
Previous experience: AppLabs, Virtusa, and Baan

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Nanda Padmaraju S VP – ROW

Nanda heads sales for the UK and EU regions. Brings in more than 18 years of global IT expertise along with strong financial acumen
Previous experience: AppLabs, Satyam Computer, IBM & Sharp Protech

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Raghu Krovvidy President & Global Delivery Head

Jagdish Kumar SVP - Global ICT

Veera Reddy Global Head of HR

Raghu manages Global Delivery on a day to day basis across all GEOs and verticals for Cigniti
- Veera is responsible for employee life cycle events, talent management, employee relations, performance management, Diversity & inclusion and cultural transformation.
Jagdish heads ICT function at Cigniti. Over 25 years of experience in various global roles spanning IT Strategy & others
Previous experience: 20+ years. others management, Diversity & inclusion Accenture, AppLabs, IRIS Digital & and cultural transformation. •
NIIT Previous experience: JDA, OpenText, • An Air Force veteran, experienced HR BaaN, HCL Leader with over 18 years of experience. He also worked with Genpact and Wipro.
www.cigniti.com | Unsolicited Distribution is Restricted. Copyright © 2021-22, Cigniti Technologies

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Subhendu Pattnaik VP & Global Head of Marketing & IST

Subhendu heads Global Marketing & Demand Generation. 15+ years of experience & proven track record in leading 360-degree Marketing
Previous experience: Infosys, Tata BSS, FINO, Mindfire

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Awards & Reco nitions g

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Awards & Recognitions

» World’s leading independent Quality Engineering & Software Testing services company
» Appraised at CMMI-SVC v1.3, Maturity Level 5, and ISO 9001:2015 & ISO 27001:2013 certified
» Forrester recognizes Cigniti as a Strong Performer in Continuous Automation & Testing Services. ISG recognized Cigniti as a Leader in Continuous Testing & Nelson Hall recognized Cigniti as a Leader in AI Testing, Continuous Testing & Quality Engineering.
» Positioned in Gartner’s Magic Quadrant for Application Testing Services, Worldwide for 6 years in a row and as a ‘Star Performer’ and ‘Major Contender’ in the Everest Group PEAK Matrix. 5 years in a row.

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Partners

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Share Holding Pattern (Jun’21)
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Promoter
Holding
37.46%
Public Holding
62.54%
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Financial Highlights Q2FY22- Consolidated

All values are in INR Million

~~T~~ Particulars Q2FY22 Q1FY22 Q2FY21 Q-o-Q Y-o-Y Income Revenue from operations 3,079 2,644 2,212 16.5% 39.2% Revenue from operations ($M) 42.15 36.04 30.13 Expenses Employee benefit expense 1,807 1,656 1,232 9.2% 46.6% Other expenses 953 745 538 27.9% 77.3% EBITDA 319 243 442 31.3% -27.8% % EBITDA 10.4% 9.2% 20.0% Depreciation & Amortization 37 33 30 10% 20.5% EBIT 282 210 412 34.6% -31.4% Other Income(Expense) (18) 5 8 -507.6% -324.3% Finance Income 46 37 21 23.1% 117.2% Finance Costs 12 11 16 10% -26.1% PBT 298 241 425 23.6% -30.0% Tax 76 37 173 107.3% -56.1% PAT 222 204 252 8.5% -12.1% EPS (Basic) 7.90 7.29 9.06	~~T~~ Particulars Q2FY22 Q1FY22 Q2FY21 Q-o-Q Y-o-Y Income Revenue from operations 3,079 2,644 2,212 16.5% 39.2% Revenue from operations ($M) 42.15 36.04 30.13 Expenses Employee benefit expense 1,807 1,656 1,232 9.2% 46.6% Other expenses 953 745 538 27.9% 77.3% EBITDA 319 243 442 31.3% -27.8% % EBITDA 10.4% 9.2% 20.0% Depreciation & Amortization 37 33 30 10% 20.5% EBIT 282 210 412 34.6% -31.4% Other Income(Expense) (18) 5 8 -507.6% -324.3% Finance Income 46 37 21 23.1% 117.2% Finance Costs 12 11 16 10% -26.1% PBT 298 241 425 23.6% -30.0% Tax 76 37 173 107.3% -56.1% PAT 222 204 252 8.5% -12.1% EPS (Basic) 7.90 7.29 9.06	~~T~~ Particulars Q2FY22 Q1FY22 Q2FY21 Q-o-Q Y-o-Y Income Revenue from operations 3,079 2,644 2,212 16.5% 39.2% Revenue from operations ($M) 42.15 36.04 30.13 Expenses Employee benefit expense 1,807 1,656 1,232 9.2% 46.6% Other expenses 953 745 538 27.9% 77.3% EBITDA 319 243 442 31.3% -27.8% % EBITDA 10.4% 9.2% 20.0% Depreciation & Amortization 37 33 30 10% 20.5% EBIT 282 210 412 34.6% -31.4% Other Income(Expense) (18) 5 8 -507.6% -324.3% Finance Income 46 37 21 23.1% 117.2% Finance Costs 12 11 16 10% -26.1% PBT 298 241 425 23.6% -30.0% Tax 76 37 173 107.3% -56.1% PAT 222 204 252 8.5% -12.1% EPS (Basic) 7.90 7.29 9.06	~~T~~ Particulars Q2FY22 Q1FY22 Q2FY21 Q-o-Q Y-o-Y Income Revenue from operations 3,079 2,644 2,212 16.5% 39.2% Revenue from operations ($M) 42.15 36.04 30.13 Expenses Employee benefit expense 1,807 1,656 1,232 9.2% 46.6% Other expenses 953 745 538 27.9% 77.3% EBITDA 319 243 442 31.3% -27.8% % EBITDA 10.4% 9.2% 20.0% Depreciation & Amortization 37 33 30 10% 20.5% EBIT 282 210 412 34.6% -31.4% Other Income(Expense) (18) 5 8 -507.6% -324.3% Finance Income 46 37 21 23.1% 117.2% Finance Costs 12 11 16 10% -26.1% PBT 298 241 425 23.6% -30.0% Tax 76 37 173 107.3% -56.1% PAT 222 204 252 8.5% -12.1% EPS (Basic) 7.90 7.29 9.06	~~T~~ Particulars Q2FY22 Q1FY22 Q2FY21 Q-o-Q Y-o-Y Income Revenue from operations 3,079 2,644 2,212 16.5% 39.2% Revenue from operations ($M) 42.15 36.04 30.13 Expenses Employee benefit expense 1,807 1,656 1,232 9.2% 46.6% Other expenses 953 745 538 27.9% 77.3% EBITDA 319 243 442 31.3% -27.8% % EBITDA 10.4% 9.2% 20.0% Depreciation & Amortization 37 33 30 10% 20.5% EBIT 282 210 412 34.6% -31.4% Other Income(Expense) (18) 5 8 -507.6% -324.3% Finance Income 46 37 21 23.1% 117.2% Finance Costs 12 11 16 10% -26.1% PBT 298 241 425 23.6% -30.0% Tax 76 37 173 107.3% -56.1% PAT 222 204 252 8.5% -12.1% EPS (Basic) 7.90 7.29 9.06	~~T~~ Particulars Q2FY22 Q1FY22 Q2FY21 Q-o-Q Y-o-Y Income Revenue from operations 3,079 2,644 2,212 16.5% 39.2% Revenue from operations ($M) 42.15 36.04 30.13 Expenses Employee benefit expense 1,807 1,656 1,232 9.2% 46.6% Other expenses 953 745 538 27.9% 77.3% EBITDA 319 243 442 31.3% -27.8% % EBITDA 10.4% 9.2% 20.0% Depreciation & Amortization 37 33 30 10% 20.5% EBIT 282 210 412 34.6% -31.4% Other Income(Expense) (18) 5 8 -507.6% -324.3% Finance Income 46 37 21 23.1% 117.2% Finance Costs 12 11 16 10% -26.1% PBT 298 241 425 23.6% -30.0% Tax 76 37 173 107.3% -56.1% PAT 222 204 252 8.5% -12.1% EPS (Basic) 7.90 7.29 9.06
Particulars	Q2FY22	Q1FY22	Q2FY21	Q-o-Q	Y-o-Y
Income
Revenue from operations	3,079	2,644	2,212	16.5%	39.2%
Revenue from operations ($M)	42.15	36.04	30.13
Expenses
Employee benefit expense	1,807	1,656	1,232	9.2%	46.6%
Other expenses	953	745	538	27.9%	77.3%

EBITDA	319	243	442	31.3%	-27.8%
% EBITDA	10.4%	9.2%	20.0%
Depreciation & Amortization	37	~~T~~ 33	30	10%	20.5%
EBIT	282	210	412	34.6%	-31.4%
Other Income(Expense)	(18)	5	8	-507.6%	-324.3%
Finance Income	46	37	21	23.1%	117.2%
Finance Costs	12	11	16	10%	-26.1%

PBT	298	241	425	23.6%	-30.0%
Tax	76	37	173	107.3%	-56.1%
PAT	222	204	252	8.5%	-12.1%
EPS (Basic)	7.90	7.29	9.06

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Financial Hi hli hts H1FY22- Consolidated g g All values are in INR Million

T Particulars H1FY22 H1FY1921 Y-o-Y Income Revenue from operations 5,723 4,396 30.2% Revenue from operations ($M) 78.19 59.38 Expenses Employee benefit expense 13,462 2,543 36.1% Other expenses 1,698 1,050 61.7% EBITDA 562 803 -29.9% % EBITDA 9.8% 18.3% Depreciation & Amortization 70 61 15.3% EBIT 492 742 -33.6% Other Income(Expense) (14) 32 -144.6% Finance Income 82 46 79.0% Finance Costs 22 32 -30.6% PBT 538 788 -31.6% Tax 113 245 -53.9% PAT 426 543 -21.6% EPS (Basic) 15.19 19.51	T Particulars H1FY22 H1FY1921 Y-o-Y Income Revenue from operations 5,723 4,396 30.2% Revenue from operations ($M) 78.19 59.38 Expenses Employee benefit expense 13,462 2,543 36.1% Other expenses 1,698 1,050 61.7% EBITDA 562 803 -29.9% % EBITDA 9.8% 18.3% Depreciation & Amortization 70 61 15.3% EBIT 492 742 -33.6% Other Income(Expense) (14) 32 -144.6% Finance Income 82 46 79.0% Finance Costs 22 32 -30.6% PBT 538 788 -31.6% Tax 113 245 -53.9% PAT 426 543 -21.6% EPS (Basic) 15.19 19.51	T Particulars H1FY22 H1FY1921 Y-o-Y Income Revenue from operations 5,723 4,396 30.2% Revenue from operations ($M) 78.19 59.38 Expenses Employee benefit expense 13,462 2,543 36.1% Other expenses 1,698 1,050 61.7% EBITDA 562 803 -29.9% % EBITDA 9.8% 18.3% Depreciation & Amortization 70 61 15.3% EBIT 492 742 -33.6% Other Income(Expense) (14) 32 -144.6% Finance Income 82 46 79.0% Finance Costs 22 32 -30.6% PBT 538 788 -31.6% Tax 113 245 -53.9% PAT 426 543 -21.6% EPS (Basic) 15.19 19.51	T Particulars H1FY22 H1FY1921 Y-o-Y Income Revenue from operations 5,723 4,396 30.2% Revenue from operations ($M) 78.19 59.38 Expenses Employee benefit expense 13,462 2,543 36.1% Other expenses 1,698 1,050 61.7% EBITDA 562 803 -29.9% % EBITDA 9.8% 18.3% Depreciation & Amortization 70 61 15.3% EBIT 492 742 -33.6% Other Income(Expense) (14) 32 -144.6% Finance Income 82 46 79.0% Finance Costs 22 32 -30.6% PBT 538 788 -31.6% Tax 113 245 -53.9% PAT 426 543 -21.6% EPS (Basic) 15.19 19.51
Particulars	H1FY22	H1FY1921	Y-o-Y
Income
Revenue from operations	5,723	4,396	30.2%
Revenue from operations ($M)	78.19	59.38
Expenses
Employee benefit expense	13,462	2,543	36.1%
Other expenses	1,698	1,050	61.7%

EBITDA	562	803	-29.9%
% EBITDA	9.8%	18.3%
Depreciation & Amortization	T 70	61	15.3%
EBIT	492	742	-33.6%
Other Income(Expense)	(14)	32	-144.6%
Finance Income	82	46	79.0%
Finance Costs	22	32	-30.6%

PBT	538	788	-31.6%
Tax	113	245	-53.9%
PAT	426	543	-21.6%
EPS (Basic)	15.19	19.51

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Ci niti’s Income statement FY 21 – Consolidated g All values are in INR Million

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Particulars FY20 FY21 Income Revenue from operations 8,720 8,965 Revenue from operations($M) 124 122 Expenses Employee benefit expense 5,190 5,216 Other expenses 2,243 2,295 EBITDA 1,287 1,455 % EBITDA 14.8% 16.2% Depreciation & Amort 115 123 EBIT 1,172 1,332 % EBIT 13.4% 14.9% Other Income 158 36 Finance Income 58 98 Finance costs 80 56 PBT 1,308 1,308 % PBT 15.0% 92 Tax 92 92 PAT 1,216 1,216 % PAT 13.9% 43.87 EPS(Basic) 43.87 37.77	Particulars FY20 FY21 Income Revenue from operations 8,720 8,965 Revenue from operations($M) 124 122 Expenses Employee benefit expense 5,190 5,216 Other expenses 2,243 2,295 EBITDA 1,287 1,455 % EBITDA 14.8% 16.2% Depreciation & Amort 115 123 EBIT 1,172 1,332 % EBIT 13.4% 14.9% Other Income 158 36 Finance Income 58 98 Finance costs 80 56 PBT 1,308 1,308 % PBT 15.0% 92 Tax 92 92 PAT 1,216 1,216 % PAT 13.9% 43.87 EPS(Basic) 43.87 37.77	Particulars FY20 FY21 Income Revenue from operations 8,720 8,965 Revenue from operations($M) 124 122 Expenses Employee benefit expense 5,190 5,216 Other expenses 2,243 2,295 EBITDA 1,287 1,455 % EBITDA 14.8% 16.2% Depreciation & Amort 115 123 EBIT 1,172 1,332 % EBIT 13.4% 14.9% Other Income 158 36 Finance Income 58 98 Finance costs 80 56 PBT 1,308 1,308 % PBT 15.0% 92 Tax 92 92 PAT 1,216 1,216 % PAT 13.9% 43.87 EPS(Basic) 43.87 37.77
Particulars	FY20	FY21
Income
Revenue from operations	8,720	8,965
Revenue from operations($M)	124	122
Expenses
Employee benefit expense	5,190	5,216
Other expenses	2,243	2,295
EBITDA	1,287	1,455
% EBITDA	14.8%	16.2%

Depreciation & Amort	115	123
EBIT	1,172	1,332
% EBIT	13.4%	14.9%
Other Income	158	36
Finance Income	58	98
Finance costs	80	56
PBT	1,308	1,308
% PBT	15.0%	92

Tax	92	92
PAT	1,216	1,216
% PAT	13.9%	43.87

EPS(Basic)	43.87	37.77

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Ci niti’s Balance Sheet H1FY22- Consolidated g

All values are in INR Million

	Particulars H1FY22 H1FY21 Particulars H1FY22 H1FY21 PropertyPlant & equipment 216 165 Equity& Liabilities Right-to-use asset 176 258 Equity share capital 281 278 Goodwill 549 549 Other equity 3,822 2,924 Capital WIP - - Sub total 4,103 3,202 Other intangible assets - - Non-current liabilities Financial assets Financial liabilities Investment - - Lease Obligation 212 250 Loans - 51 Borrowings - - Other non-financial assets - 1 Longtermprovisions 161 109 Deferred taxassetsnet 63 30 Deferred tax liability - - Other non current assets 206 - Sub total 1,210 1,054 Sub total 373 359 Current assets Current liabilities Financial assets Financial liabilities Investment 871 745 Short term borrowings 329 669 Loans - 6 Tradepayables 762 499 Trade receivables 1,908 1,400 Lease Obligation 37 87 Cash and cash equivalent 313 414 Other current financial liabilities 4 4 Other Bankbalances 967 868 Short termprovisions 59 33 Other current financial assets 475 591 Current tax liability,net 196 221 Current taxassetsnet 14 14 Othercurrentliabilities 160 146 Other current assets 265 128 Sub total 4,813 4,166 Subtotal 1,547 1,659 Total 6,023 5,220 Total 6,023 5,220
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Particulars
H1FY22
H1FY21
Particulars
H1FY22
H1FY21
PropertyPlant & equipment
216
165
Equity& Liabilities
Right-to-use asset
176
258
Equity share capital
281
278
Goodwill
549
549
Other equity
3,822
2,924
Capital WIP
-
-
Sub total
4,103
3,202
Other intangible assets
-
-
Non-current liabilities
Financial assets
Financial liabilities
Investment
-
-
Lease Obligation
212
250
Loans
-
51
Borrowings
-
-
Other non-financial assets
-
1
Longtermprovisions
161
109
Deferred taxassetsnet
63
30
Deferred tax liability
-
-
Other non current assets
206
-
Sub total
1,210
1,054
Sub total
373
359
Current assets
Current liabilities
Financial assets
Financial liabilities
Investment
871
745
Short term borrowings
329
669
Loans
-
6
Tradepayables
762
499
Trade receivables
1,908
1,400
Lease Obligation
37
87
Cash and cash equivalent
313
414
Other current financial liabilities
4
4
Other Bankbalances
967
868
Short termprovisions
59
33
Other current financial assets
475
591
Current tax liability,net
196
221
Current taxassetsnet
14
14
Othercurrentliabilities
160
146
Other current assets
265
128
Sub total
4,813
4,166
Subtotal
1,547
1,659
Total
6,023
5,220
Total
6,023
5,220

www.cigniti.com

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Ci niti’s Balance Sheet FY21- Consolidated g

All values are in INR Million

	Particulars FY21 FY20 Particulars FY21 FY20 PropertyPlant & equipment 167 172 Equity& Liabilities Right-to-use asset 217 299 Equity share capital 280 278 Goodwill 549 549 Other equity 3,443 2,394 Capital WIP - - Sub total 3,723 2,672 Other intangible assets - - Non-current liabilities Financial assets Financial liabilities Investment - - Lease Obligation 205 295 Loans 51 51 Borrowings - - Other non-financial assets - - Longtermprovisions 123 90 Deferred taxassetsnet 53 - Deferred tax liability - - Other non current assets - - Sub total 1,037 1,106 Sub total 328 385 Current assets Current liabilities Financial assets Financial liabilities Investment 804 489 Short term borrowings 161 838 Loans 6 7 Tradepayables 627 601 Trade receivables 1,577 1,644 Lease Obligation 91 82 Cash and cash equivalent 256 76 Other current financial liabilities 29 14 Other Bankbalances 1,023 795 Short termprovisions 26 29 Other current financial assets 466 490 Current tax liability,net 183 49 Current taxassetsnet 26 26 Othercurrentliabilities 153 129 Other current assets 126 166 Sub total 4,284 3,693 Subtotal 1,270 1,742 Total 5,321 4,799 Total 5,321 4,799
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Particulars
FY21
FY20
Particulars
FY21
FY20
PropertyPlant & equipment
167
172
Equity& Liabilities
Right-to-use asset
217
299
Equity share capital
280
278
Goodwill
549
549
Other equity
3,443
2,394
Capital WIP
-
-
Sub total
3,723
2,672
Other intangible assets
-
-
Non-current liabilities
Financial assets
Financial liabilities
Investment
-
-
Lease Obligation
205
295
Loans
51
51
Borrowings
-
-
Other non-financial assets
-
-
Longtermprovisions
123
90
Deferred taxassetsnet
53
-
Deferred tax liability
-
-
Other non current assets
-
-
Sub total
1,037
1,106
Sub total
328
385
Current assets
Current liabilities
Financial assets
Financial liabilities
Investment
804
489
Short term borrowings
161
838
Loans
6
7
Tradepayables
627
601
Trade receivables
1,577
1,644
Lease Obligation
91
82
Cash and cash equivalent
256
76
Other current financial liabilities
29
14
Other Bankbalances
1,023
795
Short termprovisions
26
29
Other current financial assets
466
490
Current tax liability,net
183
49
Current taxassetsnet
26
26
Othercurrentliabilities
153
129
Other current assets
126
166
Sub total
4,284
3,693
Subtotal
1,270
1,742
Total
5,321
4,799
Total
5,321
4,799

www.cigniti.com

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Cashflow Generation H1’ FY22 vs. H1’ FY22

==> picture [91 x 34] intentionally omitted <==

All Figures in INR Mn.	H1' FY22	H1' FY21	FY 2021	Cash and cash equivalents (including short-term fixed deposits) at 313 Mn. Company has invested in Mutual Funds, NCDs and Bonds to the tune of 1,938 Mn. After setting off cash credit facility 329 Mn; the total Cash Surplus is as at 1,922 Mn. Cash Generation
Profit before tax	539	788	1,411
				Cash and cash equivalents (including short-term fixed deposits) at 313 Mn. Company has invested in Mutual Funds, NCDs and Bonds to the tune of 1,938 Mn. After setting off cash credit facility 329 Mn; the total Cash Surplus is as at 1,922 Mn.
(+/-) Non-cash & non operating Items	120	52	93
Operating Profit before WC Changes	658	840	1,504
(+/-) DSO Movement (Receivables)	(329)	246	60
(+/-) Other charges	(66)	(147)	160
Operating CF after WC changes	263	938	1,724
Less: Taxes	(98)	(91)	(276)
Less: Capex	(85)	(15)	(32)
Free cash flow generated	80	832	1,417

EBITDA	562	803	1,455
FCF to EBITDA Conversion	14%	104%	97%

==> picture [56 x 52] intentionally omitted <==

Disclaimer

==> picture [91 x 34] intentionally omitted <==

This presentation is strictly confidential and may not be copied, published, distributed or transmitted. The information in this presentation is being provided by Cigniti Technologies Ltd. (also referred to as ‘Company’). By attending a meeting where this presentation is made, or by reading this presentation material, you agree to be bound by following limitations:

The information in this presentation has been prepared for use in presentations by Company for information purposes only and does not constitute, or should be regarded as, or form part of any offer, invitation, inducement or advertisement to sell or issue, or any solicitation or any offer to purchase or subscribe for, any securities of the Company in any jurisdiction, including the United States and India, nor shall it, or the fact of its distribution form the basis of, or be relied on in connection with, any investment decision or any contract or commitment to purchase or subscribe for any securities of the Company in any jurisdiction, including the United States and India. This presentation does not constitute a recommendation by the Company or any other party to sell or buy any securities of the Company.

This presentation and its contents are not and should not be construed as a prospectus or an offer document, including as defined under the Companies Act, 2013, to the extent notified and in force) or an offer document under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended).

This presentation and its contents are strictly confidential to the recipient and should not be further distributed, re-transmitted, published or reproduced, in whole or in part, or disclosed by recipients directly or indirectly to any other person or press, for any purposes. In particular, this presentation is not for publication or distribution or release in any country where such distribution may lead to a breach of any law or regulatory requirement. No person is authorized to give any information or to make any representation not contained in or inconsistent with this presentation or and if given or made, such information or representation must not be relied upon as having been authorized by us. Receipt of this presentation constitutes an express agreement to be bound by such confidentiality and the other terms set out herein. Any failure to comply with this restriction may constitute a violation of applicable securities laws.

This presentation and the information contained herein does not constitute or form part of any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities of the Company, nor should it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever.

No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Neither Company nor any of its affiliates, advisors or representatives shall have any responsibility or liability whatsoever (for negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. The information set out herein may be subject to updating, completion, revision, verification and amendment and such information may change materially. This presentation is based on the economic, regulatory, market and other conditions as in effect on the date hereof. It should be understood that subsequent developments may affect the information contained in this presentation, which neither Company nor its affiliates, advisors or representatives are under an obligation to update, revise or affirm.

This presentation contains forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding expansion plans and the benefits there from, fluctuations in our earnings, our ability to manage growth and implement strategies, competition in our business including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, our ability to win new contracts, changes in technology, availability of financing, our ability to successfully complete and integrate our expansion plans, liabilities, political instability and general economic conditions affecting our industry. Unless otherwise indicated, the information contained herein is preliminary and indicative and is based on management information, current plans and estimates. Industry and market-related information is obtained or derived from industry publications and other sources and has not been verified by us. Given these risks, uncertainties and other factors, recipients of this document are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.

This presentation is not an offer for sale of securities in the UNITED STATES or elsewhere.

==> picture [200 x 89] intentionally omitted <==

US

Cigniti Technologies Inc. 433 E Las Colinas Blvd, Suite 1300, Irving, TX 75039

Australia

Cigniti Technologies (Australia) Pty Ltd Level 9, 401 Collins Street VIC 3000 Australia

Singapore

Cigniti Technologies Ltd. 160 Robinson Road, #14-04 Singapore Business Federation Centre, Singapore – 068914

India

Hyderabad Cigniti Technologies Ltd. 6th Floor, ORION Block, "The V" (Ascendas) Plot #17 Software Units Layout Madhapur, Hyderabad-500081

US

UK

Cigniti Technologies (UK) Limited WeWork , 8 Devonshire Square London, EC2M 4PL

630 Freedom Business Center, 3rd Floor, King of Prussia, PA 19406

South Africa

Canada

Cigniti Technologies Canada Inc 2000 Argentia Road, Plaza 4, Suite 302, Mississauga,Ontario L5N 1W1.

Cigniti Technologies Ltd. Ballyclare Place, 14 Ballyclare Drive, Bryanston 2021

Czech Republic

UAE

Cigniti Technologies Ltd. V parku 2316/12, Chodov, 14800 Praha 4

Cigniti Technologies Ltd. Premises No. 6WB 643, Building Name 6WB, Dubai Airport Freezone Dubai, UAE

AI assistant

Cigniti Technologies Ltd Interim / Quarterly Report 2022

61964_rns_2021-10-22_127527f3-214a-4aae-9852-aff6efea5577.pdf

. Cigniti Technologies Ltd Investor Update

Q2 FY22 Highlights

307.90

7.2%

230+

10+

EBITDA & PAT Analysis (FY: 21-22)

Q2FY22 Financials (INR in Cr.)

Client Composition / Geography Mix of Revenue

Em lo ee Metrics p y

UTILIZATION

Revenue By Sector (%)

Ci niti’s Core Service Offerin s for Lar e Enter rise Clients g g g p

Quality Engineering and Specialized Offerings

Board Members

Led by Dedicated Promoters & Managed by Professional Leadership Team

C V Subramanyam , Chairman and Managing Director

Awards & Reco nitions g

Awards & Recognitions

Partners

Financial Highlights Q2FY22- Consolidated

Financial Hi hli hts H1FY22- Consolidated g g All values are in INR Million

Ci niti’s Balance Sheet H1FY22- Consolidated g

Ci niti’s Balance Sheet FY21- Consolidated g

Cashflow Generation H1’ FY22 vs. H1’ FY22

Disclaimer

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AI assistant

Cigniti Technologies Ltd — Interim / Quarterly Report 2022

61964_rns_2021-10-22_127527f3-214a-4aae-9852-aff6efea5577.pdf

. Cigniti Technologies Ltd Investor Update

Q2 FY22 Highlights

307.90

7.2%

230+

10+

EBITDA & PAT Analysis (FY: 21-22)

Q2FY22 Financials (INR in Cr.)

Client Composition / Geography Mix of Revenue

Em lo ee Metrics p y

UTILIZATION

Revenue By Sector (%)

Ci niti’s Core Service Offerin s for Lar e Enter rise Clients g g g p

Quality Engineering and Specialized Offerings

Board Members

Led by Dedicated Promoters & Managed by Professional Leadership Team

C V Subramanyam , Chairman and Managing Director

Awards & Reco nitions g

Awards & Recognitions

Partners

Financial Highlights Q2FY22- Consolidated

Financial Hi hli hts H1FY22- Consolidated g g All values are in INR Million

Ci niti’s Balance Sheet H1FY22- Consolidated g

Ci niti’s Balance Sheet FY21- Consolidated g

Cashflow Generation H1’ FY22 vs. H1’ FY22

Disclaimer

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Australia

Singapore

India

US

UK

South Africa

Canada

Czech Republic

UAE

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Cigniti Technologies Ltd Interim / Quarterly Report 2022