‘Infosys set for another year of market-leading performance’

Riding change: Unprecedented technology transformation is shaping the next normal, says Nilekani.   | Photo Credit: G.R.N. Somashekara

Infosys is well-positioned for another year of market-leading performance in a post-pandemic, cloud-first, distinctly digital era said chairman Nandan Nilekani.

Unprecedented technology transformation driven by cloud, and the digitalisation of business models were shaping the next normal for us all, he said during the company’s 40th AGM.

Critical capability

“Whether it’s the uptick in online demand, mastery over digital demand fulfilment or tackling the threat of cyberattacks, technology has become an urgent and critical business capability. Adjusting to this new reality can be daunting.’’

Firms could no longer afford the long wait for business returns or settle for the sometimes-underwhelming outcomes of large transformation projects, he added.

The company’s digital business grew to account for 48.5% of its total revenue, while its large transformation deals peaked to an all-time high of $14.1 billion, with 66% being net new in the last fiscal, he said. The board has recommended a capital return of ₹15,600 crore, including a final dividend of ₹6,400 crore, and an open-market share buyback of ₹9,200 crore. Mr. Nilekani said the company continued to strengthen its talent pool by recruiting 19,230 graduates in India and 1,941 – both graduates and associate degree holders — outside the country to serve clients’ burgeoning demand for digital acceleration in FY21.

“We expanded our U.S. hiring commitment to 25,000 by 2022 with an additional 12,000 new American jobs across a variety of roles. We will also double our Canadian workforce to 4,000 by 2023,” he said.

“In the U.K., we announced plans to create 1,000 digital jobs to fuel post-pandemic growth.’’

The board recommended the reappointment of U.B. Pravin Rao, chief operating office and whole-time director, whose office is liable to retire by rotation. He will superannuate on December 12.He would be superannuating on December 12.

The trustees of the Infosys Foundation have unanimously elected Ms. SudhaMurty to continue as the chairperson till December 31. She is scheduled to retire on December 31, 2021 after serving the company for a quarter century.

Infosys said it has expanded its financial commitment towards COVID-19 relief to ₹200 crore.

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Printable version | Aug 5, 2021 9:08:41 PM |

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