Infosys: Navigating Change

Infosys, a prominent Indian multinational corporation, has been key to shaping the nation's IT sector, driving innovation, creating employment opportunities, and contributing significantly to the country's economic growth and global reputation.
The company has brought in the power of AI, analytics, and cloud to accelerate its own enterprise transformation. Established in 1981, from a capital of $250, Infosys has grown to become a company with a market capitalisation of approximately $72.35 billion. In its journey of over 40 years, the company has catalysed India's transformation as the global destination for software services talent. In FY23, it boasted 3,43,234 employees and 1,872 active clients.

Infosys achieved industry leading revenue growth of 15.4 per cent with a healthy operating margin of 21 per cent for fiscal 2023. Its ESG Vision 2030 and ambitions continue to drive value for all its stakeholders.

"Financial year 2023 was a strong year for our business. In FY23, we saw growth of over 15 per cent, operating margins of 21 per cent, and free cash flow of $2.5 billion. Our attrition reduced for each quarter of the year," informed Salil Parekh, Chief Executive Officer and Managing Director, Infosys, in his shareholder's address.

Generating Numbers
During FY23 Infosys logged in a revenue from operations of Rs 1,24,614 crore with profit before tax (PBT) of Rs 31,643 crore on a standalone basis and revenues of Rs 1,46,767 crore with PBT of Rs 33,322 crore on a consolidated basis. Out of total revenue, Rs 91,272 crore came from digital service, and Rs 55,499 crore from core service during FY23 on a consolidated basis. In terms of percentage the company's digital service contributed 62.2 per cent and its core service 37.8 per cent of revenue during FY23. Revenue growth in US dollar terms was 11.7 per cent and in constant currency it was 15.4 per cent during FY23. Total client base of the company was 1,872 at the end of FY23 which included addition of 458 clients during the year. The top five clients accounted for 12.7 per cent of total revenue whereas top 10 clients of the company accounted for 20.2 per cent of the same.

Parekh highlighted Infosys' deep relationship with its clients across the globe. He said the number of clients with over $100 million in revenue for FY23 stood at 40 while the number of clients with over $50 million in revenue was 75. "Our large deal intensity was strong during the year. We had 95 large deals with a value of $9.8 billion in the year," he said. 
Infosys recruited over 50,000 college graduates in the year and ended the year with over 3,40,000 employees. At the end of the year, 39 per cent of its employees were women.

CSR Initiatives
Infosys said its global Corporate Social Responsibility (CSR) spends stood at Rs 517 crore in FY23 with 3.8 million beneficiaries coming in from India. The company's global CSR efforts addressed challenges across education, healthcare, women empowerment, science and research, environmental sustainability and more. As is known, Infosys has been at the forefront of the ESG movement and became carbon neutral in 2020, full 30 years ahead of the timeline set by the Paris Agreement.