Salil ParekhChief Executive Officer
and Managing Director
Salil Parekh Chief Executive Officer
Dear shareholder,
Our primary objective is to help address and solve our clients’ business and technology challenges to enable them to better serve their customers, grow, and improve their profitability. With that in mind, we have set for ourselves the goal of increasing our relevance to our clients. The more we succeed in that, the more likely we are to create increased value for our shareholders.
Today, our clients – large enterprises and government organizations – are at different points in their digital journey. We are positioning our capabilities to help them navigate their next, across the different dimensions of this journey.
Over the past few months, I’ve spent time extensively with our clients and with our employees. Each one of the 48 clients I met during the previous quarter is a strong believer in our long-standing, market-leading, service delivery strength. In fact, they are keen that we build upon our knowledge of their technology foundation and support them on their digital journey. I also learnt about the sense of tremendous pride our employees have in their work for our clients.
To increase our relevance to our clients, we have embarked on our strategy of ‘Navigate your next’. To achieve this, we have defined the following four strategic imperatives :
- Scale Agile Digital
- Energize the core
- Re-skill our employees, and
- Localize in our key markets
Our clients are moving rapidly on their digital journey. We have built, over the years, a formidable position in the digital space – US$ 2.79 billion of our revenue in fiscal 2018 came from these digital services. Our digital framework drives business outcomes for our clients across five areas – Experience, Insight, Innovate, Accelerate, and Assure. This reflects how we are thinking about our clients’ journey as they make progress through their digital transformation. This also guides our own aspirations and efforts to build digital capability in service of our clients’ needs.
“Today, our clients are at different points in their digital journey. We are positioning our capabilities to help them navigate their next, across the different dimensions of this journey.”
Our core business is the cornerstone of our company and the critical element that has helped us build enormous client trust and loyalty. With advances in artificial intelligence and automation, we have the ability to make these core services even more efficient and effective for our clients. Our Nia platform is a critical element in this landscape.
In working alongside our clients on their digital journey, we are actively working with our employees to enable their re-skilling. Our platform, Lex, makes learning accessible, relevant, fun, and drives outcomes that matter. Increasingly, we are taking this learning to our client organizations as well.
We are embarking on building more local capabilities, especially in America, Europe, and Australia, to ensure we expand our relevance to our clients. We announced our first campus for development and training in Indiana, US, and innovation hubs in other cities. With the articulation of our strategic direction, we have launched a transformation program for the company to drive the execution of the initiatives that will help us achieve the outcomes envisaged. This is a three-year transformation program that will help position Infosys for increased client relevance.
Our fiscal 2018 results are detailed in this annual report and demonstrate the underlying strength of our business. Our revenue was US$ 10.9 billion, which grew at 5.8% in constant currency from the previous year. Our operating margin was 24.3% and profit after tax was US$ 2.5 billion. Cash provided by operating activities was US$ 2.3 billion.
Thank you to each one of our 1,200 clients! Their trust and belief in us has enabled us to be the company we are.
The dedication of our over 2,00,000 employees to drive outcomes for our clients is a testament to the results we have shown in fiscal 2018 and the continuing strength of our institution. Thank you to each one of them.
Our exceptional leadership team has helped steer the company through the past several years and also helped design our strategic framework and the transformation program. My thanks to them for their energy and commitment in helping me operationalize our strategy.
Today, as I look out of the window in my office at the lush green trees across our stunning campus in Bengaluru, I feel a sense of excitement – at the opportunities in the technology world as our clients are moving on their digital journey and the consequent opportunity for us to help them navigate their next. I feel a sense of pride at the incredible institution that has been built over the past 37 years that gives us a strong foundation for what we can create in the future.
With my warmest regards,
Salil Parekh
Chief Executive Officer and Managing Director