• News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
BW Businessworld

Infosys: Power Of One

IT bellwether Infosys continues to command respect thanks to a nimble leadership, great work culture and an effective growth plan that helped it generate fastest growth in 11 years

Photo Credit :


Financial year 2022 turned out to be an outstanding year for Infosys, one of the leading global providers of digital services and consulting. CEO Salil Parekh proudly announced that Infosys had achieved close to 20 per cent growth, which is the fastest in 11 years. He emphasised that the company's digital work constituted nearly 60 per cent of all its operations, with a growth rate of around 40 per cent. These impressive figures indicate that Infosys is gaining market share, and its clients, employees, and shareholders are benefiting from the company's success.

Parekh highlighted Infosys' comprehensive digital capabilities that provide immense value to its clients. The company's Cobalt cloud capabilities are market-leading across infrastructure-as-a-service, platform-as-a-service, and software-as-a-service. Parekh also mentioned that Infosys' Equinox platform was attracting a large number of digital retail businesses and delivering leading omni-channel experiences for them. The company's expertise in data, analytics, AI, cybersecurity, and IoT further strengthened its position globally as a technology services brand.

Infosys' automation capabilities are industry-leading and poised to support its clients as they look at ongoing efficiency and productivity improvements. Parekh's extension as CEO and MD till 2027 is a testament to the trust placed in him by the company's shareholders and board of directors. Under his leadership, Infosys has delivered an operating margin of 23 per cent, reflecting the company's sound financial performance.

The company returned USD 1.7 billion to its shareholders in the form of dividends and another $1.5 billion through a share buyback, the total pay-out for the year totalling USD 3.2 billion. Additionally, Infosys' earnings per share increased by 15 per cent in rupee terms, with net profit up by 14.3 per cent to Rs 22,110 crore, and revenue growing 21 per cent to Rs 1,21,641 crore compared to FY21 numbers. Parekh highlighted that the company's growth during the fiscal had been broad-based, spread across business segments, service lines, and geographies.

Infosys continues to gain market share, thanks to the sustained confidence of clients in its ability to successfully navigate their digital journeys. Parekh pointed

out that the company is building deeper relationships with its clients and growing the trust they have in Infosys. The number of client relationships with revenues of more than USD 100 million a year is 38, while client relationships accounting for more than USD 50 million per year are 64. Infosys' large deal momentum continues, with 94 large deals totalling USD 9.5 billion for the year.

In FY22, Infosys' engagement with employees continued to strengthen, with over 140,000 new employees joining the company, of which more than 80,000 came directly from colleges. Parekh informed that the company's learning platform enabled 39 million hours of skilling during the year, reflecting Infosys' commitment to continuous learning and development. Infosys ended the year with over 300,000 employees. Over 39 per cent of company's employees were women in FY22. Parekh said the company's focus was always on building a diverse workforce with a strong leadership pipeline.

CSR Push
Infosys said it has been an early adopter of CSR initiatives. The company works primarily through the Infosys Foundation, towards supporting projects in the areas of protection of national heritage, restoration of historical sites, and promotion of art and culture; destitute care and rehabilitation; environmental sustainability and ecological balance; promoting education, and enhancing vocational skills; promoting healthcare including preventive healthcare; and rural development. In fiscal 2022, the company’s CSR efforts included Covid-19 relief in multiple states.

Tags assigned to this article:
magazine 08 april 2023