Infosys gave capital return of over Rs 24,100 cr in FY22: Nandan Nilekani
Infosys gave a capital return of over Rs 24,100 crore in 2021-22 and it made a share buyback of more than Rs 11,000 crore, said Nandan Nilekani, chairman of the IT services company, on Saturday.
The board has recommended a final dividend of Rs 16 per share: that along with an interim of Rs 15 per share amounts to a total of Rs 31 per share in Financial Year 2021-22 (FY22), Nilekani told shareholders at the 41st annual general meeting of Infosys.
“Corporate leaders are having to deal with the complexities and challenges of the post-pandemic world along with slowing growth, supply chain disruptions, soaring inflation, rapidly rising interest rates of recession. Yet, every one of these challenges presents a tremendous opportunity to transition to new ways to gain market share,” he said.
“Infosys is a trusted navigator for our clients, and there is great potential to leverage our expertise to steer them forward,” said Nilekani, adding that in FY22 the company reported its fastest growth in the last 11 years.
Salil Parekh, CEO and MD of Infosys, said the cloud segment grew 40 per cent in FY22 and it is close to bring 60 per cent of the company’s revenue. “Another area of strong attention has been the way we have grown our large deals pie. In FY22 we had 94 deals which were in the $50 million size and that gave us the total deal size to $9.5 billion. One of the strongest foundations for this year and future years of growth,” he said.
“…a strong focus on cloud business, continued intensity to grow the rest of digital and to start a plan called the next generation seeding, which is what are the things that can be more relevant over the next 4-5 years. We will continue with modernization and advanced automation,” Parekh said.
On a question from a shareholder about the Income Tax portal the company has developed, Parekh said Infosys will continue working with the government for smooth operations. “Last year over 7 crore returns were filed. This year over 40 lakh returns have already been filed. Last year over two crore statutory forms were processed, this year we are close to just under 40 lakh statutory forms have been processed,” he said.
Parekh added that the system is now working in a way that is reflecting all of the changes that were put in place “Last year significant levels of the funds that were processed and completed by the system. We continue to work with the government and the department to fulfill the vision of a digital India and making sure that it’s the best approach that can be put together with the department’s objectives, and citizens,” said Parekh.