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Outcomes of Infosys AGM 2021

infosys AGM 2021
News - Updates
by Nikita Bhoota 22/06/2021

Infosys 40th AGM was held on 19th June 2021.

Here are the highlights of the same.

  • Management Commentary on FY21 Performance
  • Salil Parekh, CEO and MD, said, the company has been able to deliver 5% revenue growth in constant currency in FY21 to $13.6 billion.
  • Large deals in FY21 at $14 bn have been the highest in the history of Infosys and acquisitions during the year have strengthened digital capabilities.
  • FY21 saw an industry-leading performance by Infosys. Infosys had started a large deals program in Fy18 at $3 bn and have expanded large deals to $14 bn in FY21, this is the highest in Infosys history, said Parekh. 
  • Nearly 66% of large deals were net new in fy21 thus giving an incredible foundation to the company.
  • FY21 saw two leading partnerships: Vanguard and Daimler and the company has significantly increased accounts above $100mn per year. 
  • Infosys was the first company to launch a cloud-first service brand under Infosys Cobalt. Infosys cobalt helps clients transform faster in their cloud journey. 

Other Highlights:

  • In line with the Capital Allocation Policy, the Board, at its meeting held on April 14, 2021, approved the buyback of equity shares, from the open market route through the Indian stock exchanges, amounting to ₹9,200 crore (Maximum Buyback Size, excluding buyback tax) at a price not exceeding ₹1,750 per share (Maximum Buyback Price), subject to shareholders’ approval in the ensuing Annual General Meeting. 
  • The Board of Infosys has recommended the reappointment of UB Pravin Rao, COO and Whole-time Director, who is retiring in December 2021. Sudha Murty, chairman, Infosys Foundation, is also retiring this December.
  • During the year, the Company paid an interim dividend of ₹12 per share and announced a final dividend of ₹15 per share, subject to shareholders’ approval in the ensuing AGM. Thus, the company declared a total divided of ₹27 for FY21 and dividend payout ratio stands at 52.2% in FY21.

FY22E Growth Target:

IT company Infosys is eyeing 12-14% revenue growth in constant currency terms in the financial year 2021-22, while it sees margin at 22-24%, the company's MD and CEO Salil Parekh said in a presentation during the company's 40th annual general meeting.

Disclaimer: The above report is compiled from information available on public platforms.
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