IT services major Infosys’ total capital return stood at Rs 24,100 crore (about $3.1 billion) in 2021-22 along with a share buyback of over Rs 11,000 crore, with a total dividend of Rs 31 per share, said its co-founder and Chairman Nandan Nilekani. He added that the total dividend in FY22 was a 14.8 per cent increase as compared with the previous financial year.
The board has recommended a final dividend of Rs 16 per share and the company has announced a total dividend of about Rs 13,000 crore for FY22, Nilekani said on Saturday during the 41st annual general meeting (AGM). “Fiscal 2022 has been a year of exceptional growth – 19.7 per cent in constant currency – bringing in $16.3 billion, which is the fastest growth we have seen in 11 years.”
He added that operating margin for the year stood at a healthy 23 per cent and free cash flows crossed $3 billion. Our digital business grew at 41 per cent for the year and currently accounts for 59 per cent of our total revenues. Each of our business segments grew in double digits and growth across geographies was broad-based. Revenues from the North America region crossed the $10 billion milestone. We won 94 large deals with TCV (total contract value) of $9.5 billion, of which 40 per cent was net new, setting a strong foundation for growth in the months ahead.
Nilekani also said the board of directors has recommended the reappointment of Salil Parekh as chief executive officer and managing director of Infosys, for a second term of five years, from July 1, 2022, to March 31, 2027. “Salil has delivered an industry-leading performance for the Company, and it is in the interest of Infosys and its stakeholders to secure the continuity and stability of the current leadership.”
The board also recommends the reappointment of D Sundaram, as an independent director, for a second term of five years, as he is due for retirement as director after his first term of five years on July 13, 2022. U B Pravin Rao, chief operating officer and whole-time director, retired as member of the Board effective December 12, 2021.
“On behalf of the board of directors and on your behalf, I place on record our deep sense of appreciation for Pravin’s leadership over his 35 years of service with Infosys and acknowledge his immense efforts and contributions towards global delivery and business enablement,” Nilekani added.
He also said the pandemic, as it progressed into the second year, continued to test us all. Infosys brought together its collective resources and strengths to respond to the challenging situation and run the business with the resilience that our clients, its employees and you – the shareholders – expect from the company.
“On behalf of the CSR Committee of Infosys Limited and the Trustees of the Infosys Foundation, I also record our heartfelt gratitude to Mrs. Sudha Murty who retired from the office of Chairperson of Infosys Foundation on December 31, 2021, after an inspiring 25-year journey of service to the underserved and dedication to social causes,” he added.
Infosys’ 41st AGM
The company in its regulatory filing said that among those issues discussed at the AGM were — Adoption of Financial Statements (including the consolidated financial statements) of the company for the financial year ended March 31, 2022, and the reports of the board of directors and auditors thereon; declaration of dividend; appointment of Nandan M Nilekani as a director liable to retire by rotation; and reappointment of Deloitte Haskins & Sells LLP, Chartered Accountants, as statutory auditors of the company.
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Source: News18