Infosys is moving towards a model based on innovation: Vishal Sikka

India Infoline News Service | Mumbai | June 18, 2016 16:10 IST

Infosys recorded FY16 revenue of Rs.62,441 crore, North America being the largest revenue contributor at 62.7%, whereas a slight drop in Europe due to currency depreciation.

Vishal-Sikka
Infosys conducted its 35th Annual General Meeting (AGM) on Saturday, June 18. Infosys CEO Vishal Sikka at his 2nd AGM, stayed firm on his target to achieve $20 billion in revenue, by 2020.

 "Infosys is moving towards a model based on innovation," Sikka said, adding that the company has laid out a strategy consisting of two parts.

"The 'Renew' and 'New' strategy has been key for growth in FY16 and ‘Renew’ strategy has been well executed during FY16," he further stated.

The company said that operating margins of the company grew by 12.9% for FY16, registering net profit margin at 21.6%. Infosys recorded FY16 revenue of Rs.62,441 crore, North America being the largest revenue contributor at 62.7%,  whereas a slight drop in Europe due to currency depreciation.

The operating cash flow improved to Rs.12,000 crore whereas the cash liquidity for FY16 stood at Rs.34,468 crore. It achieved annual revenue growth of 13.3% , in constant currency terms while the annual growth rate stood at 9.1% , in dollar terms.

Infosys informed that the average revenue from top 10 clients has increased to $14 million whereas the performance in large deal wins went up by over 40%, during the year.

Commenting on market volatility, Sikka said, "Infosys saw significant currency volatility in FY16  and the business models have been changing rapidly."

Sikka stressed on measures like Zero Distance, Automation and Design Thinking, for deepening employee engagement over the last few years. He informed that 94,000 employees have been trained in Design Thinking, while 90% of projects have implemented  'Zero Distance'.

Attrition rate of the company fell to 13.6% in FY16 as against 18.9% in FY15.

***Note: This is a NSE Chart

 

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