Infosys (INFY) — concall transcript

📢 Key Event
Infosys raised FY23 revenue growth guidance to 14-16% and maintained margin guidance of 21-23%, targeting improvement from 20% Q1 margin.

🔄 What Changed
Operating margin declined to 20% due to 160 bps wage hikes and lower utilization; FY23 revenue guidance increased from 13-15% to 14-16%; large deals reached $1.69bn with 50% net new.

🔮 What's Next
FY23 revenue growth guidance set at 14-16%; margin expected to improve to 21%+ from 20% Q1, supported by cost optimization and automation.

💡 Investor Takeaway
Shareholders should note margin pressure from wage hikes but expect recovery through operational levers and upgraded growth outlook.

Infosys reported 5.5% sequential and 21.4% YoY constant currency revenue growth in Q1 FY23, with digital revenue at 61% and 37.5% growth. Operating margin stood at 20%, down 150 bps due to 160 bps wage hikes and lower utilization from fresh hiring. Management raised FY23 revenue guidance to 14-16% and maintained margin guidance of 21-23%, targeting improvement from the 20% Q1 level. Large deals totaled $1.69bn, with 50% net new, and 21,000 net headcount additions were recorded. Margin pressures stem from wage inflation and subcontractor cost increases, but levers like automation, pricing adjustments, and fresher integration aim to drive recovery.

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About Infosys Ltd (INFY)

Information Technology · IT - Software · Listed on BSE

Market Cap: ₹4,62,239.38 Cr P/E: 15.4 ROE: 32.7% ROCE: 44.9% Div Yield: 4.21%

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🔥 Also filed on 30 June 2022

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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