We have consistently invested in our infrastructure, enhanced client engagement and continued with innovation for business growth. The astute attention to delivering growth is matched with our uncompromising attention to integrity, operational excellence, risk mitigation and responsibility for sustained value creation.
As greater proportion of R&D investments continue to be outsourced, we are well-positioned to leverage this opportunity. Our planned capital investment of USD 550 Mn by FY21 will drive multiple layers of growth: capacity expansion, capability additions, client engagement and forward integration.
Syngene has entered into several longterm contracts, which provide us robust revenue visibility. At the same time, we continue to drive repeat business from numerous clients. This predictability in our revenue enables us to make investments in our human talent, technology and supply chain to further drive improvements in our processes and our profitability.
Operating in a competitive business environment, we recognise that the pursuit of operational excellence is critical to gain measurable benefits. Teams have been set up and entrusted the responsibility of driving efficiencies. Leading process methodologies such as Lean Thinking, Kaizen and Six Sigma have been deployed across business functions to achieve excellence in execution. Setting up of end-to-end inventory management systems, improving the quality control productivity and building a culture of excellence by institutionalising best practices have also been embraced to lower operational risk and costs and drive increased revenues.
Our disciplined approach to cost management and improved productivity have yielded tangible results, as reflected in our EBITDA margins of 32% which are among the highest in the industry.
We deeply believe that a business embodying an honest and candid approach is a better business in the long term. This is reflected in our commitment to the highest standards of Corporate Governance and embracing the principles of integrity, accountability and strict compliance.
Risk-mitigation, both internal as well as external risks, is an integral component of our management practices and governance to maximise shareholder’s wealth. Our aggressive focus on business development has enabled us to diversify our client base. Growing relationships with small and virtual companies and extending our presence to sectors beyond pharmaceuticals have reduced over exposure to few large clients. Revenues from top 10 clients have steadily declined from 71% in FY13 to 65% in FY19, underlining the success of our clientrisk mitigation strategy. Owing to the global exposure of the business, we also have proactive hedging policy to ensure management of our margins against foreign exchange movements. Stringent quality systems for regulatory compliance and extensive IT security systems for data confidentiality further enable us to maintain our reputation as a trusted solutions provider.
As we make investments in our business, it has always been within the strict and clear framework of discipline. Infrastructure investments are made in a staggered manner and aligned with business visibility. Our disciplined approach to cost management and improved productivity have yielded tangible results, as reflected in our EBITDA margins of 32% which is among the highest in the industry. We also have a strong track record of consistent financial growth with our PAT growing at a CAGR of 17% between FY15 and FY19. Our concerted efforts to optimise financial performance is mirrored in our balance sheet. Prudent working capital management has ensured that we have a very strong balance sheet. Going forward, this unwavering focus on controlling costs and upholding the long-term health of our Company will help us create sustained value for all our stakeholders.
We deeply believe that a business embodying an honest and candid approach is a better business in the long term. This is reflected in our commitment to the highest standards of Corporate Governance and embracing the principles of integrity, accountability and strict compliance. Transparency is also critical to enhance and retain investors trust. Aligned to our value-led culture, stakeholder meetings are regularly held for sharing timely and adequate information and building a strong connect with our shareholders and all stakeholders.
Since inception, our business is steered by professionals having top qualifications, industry-leading administrative and technical skills and vast experience. The Management is guided by well-defined goals and objectives, and the members are decision makers in their own right. Professional management of business operations will facilitate future growth, meet expectations of different stakeholder groups and enhance shareholder value.
CAGR of Revenue from FY15 to FY19
CAGR of EBITDA from FY15 to FY19
CAGR of PAT from FY15 to FY19