The brand Infosys is ready and relevant and everyone is united to take Infosys higher, said company chairman Nandan Nilekani while addressing shareholders at 37th annual general meeting (AGM) of the company.
The brand Infosys is ready and relevant and everyone is united to take Infosys higher, said company chairman Nandan Nilekani while addressing shareholders at 37th annual general meeting (AGM) of the company today. Infosys will build momentum in FY20 and accelerate in FY21, CNBC TV 18 reported citing Nandan Nilekani. He also assured shareholders that the new management will take all necessary steps to bring back stability in the company. We are at a very exciting juncture in the journey of our industry and have taken several steps to remedy stability concerns, he said at the AGM.
As every sector is undergoing tremendous transformation driven by digital revolution, Infosys too is working to make most out of the opportunity. We have created a detailed service line structures within digital along with a clear strategy reading upon four pillars – invest in digital, leverage AI, automation, reskill and hire locally – Infosys CEO Salil Parekh said He also said that the company has three year roadmap to achieve objectives. The company will stay disciplined in returning cash to shareholders and stabilise business strategy in FY19, he added.
He also said that during fiscal 2018 revenue grew by 7.2 percent in dollar terms and 5.8 percent in constant currency. The company successfully completed buyback of Rs 13000 crore, he informed.
Since Nilekani rejoined the $10.94-billion software major in August 2017 eight years after he resigned as CEO to join the then UPA government as head of the state-run UIDAI, which issues the unique identification card Aadhaar, the company has embarked on Infosys-3 version, with a paradigm shift to disruptive and digital technologies.
The appointment of Salil S Parekh as the new and second non-founder Chief Executive since January has made the company stay focused on business growth and adopt to the changing technology landscape as its clients have been asking more for less. Parekh, 53, joined Infosys on January 2 from Capgemini where he was a member of the Group Executive Board.
Interestingly, the AGM also marks the company’s 25th year of going public in 1993 when its shares were listed on the BSE.