We've had an exceptional year!
Thanks to our clients and our employees.
Our approach to help our clients 'Navigate your next' resulted in increased clientrelevance driven by the four pillars of scaling our agile digital business energizing thecore expanding our employee skills and localization.
As we look back at fiscal 2019 this strategic direction has yielded strong results.Our clients have increased their trust in us. Our overall revenues grew by 9% in constantcurrency terms to reach US$11.8 billion. Our digital revenue grew by over 30% annuallyand in Q4 is 34% of our business.
Our attention and focus on building deeper capabilities across our digital pentagonespecially in the areas of Experience Data Analytics
Cloud SaaS loT Cybersecurity Al and Machine Learning have helped us become morerelevant to the agenda of our clients. As our clients seek to transform their businessesthey are increasingly engaging with us to help them achieve their business objectivesleveraging digital technology.
A good example of our expanding digital expertise is a leading global bank choosing ourdigital banking platform to build their new digital bank.
Our deep capabilities in Automation and Al have helped us become one of the mostsophisticated service delivery organizations - a strength our clients value and leverageto make them more efficient.
We expanded our approach to engaging with clients via a larger team of client-facingindividuals and
a stronger team that drives strategic partnerships. This resulted in a significantincrease in our ability to engage with clients for their large transformation programs.
We expanded our digital centers in the US Europe and Asia Pacific thereby gainingincreased direct engagement with our clients in these geographies. At the same time weexpanded our digital agile spaces in India creating new infrastructure for the future ofdigital delivery.
We recruited over 1500 college graduates outside India and more than 20000 collegegraduates in India preparing for the increased demand we see in our client engagements.
Our acquisitions of Brilliant Basics WongDoody and Fluido are seeing strong tractionwith our clients and are helping us build a newer more powerful digital capability set.
Our strategic partnerships with Temasek in Singapore and South- East Asia and withHitachi
Panasonic and Pasona in Japan are concrete steps to build a foundation for expandingfuture relationships.
Our reskilling program with Lex our learning app is progressing at a fast clip. Wenow have over 200000 of our employees downloading Lex to rapidly build and expand theirdigital skills.
Through many of these initiatives we are building business model resilience withincreased client relevance a recipe that will help us shape Infosys of the next 10 years.
All these focus areas combined with our strong operational discipline resulted in anoperating margin of 22.8% for fiscal 2019 and operating cash flow of US$2.3 billion.
After some years of change we have seen a year of stability with a steady leadershipteam ready to engage with our clients and ready to drive our superior deliverycapability.
This transformation was guided by the clear articulation of our strategy the strongsupport of our Board and the continual commitment of the management team to make this areality. All of this resulted in our market capitalization increasing by nearly US$10billion.
As I sit in my office looking out of my window at the lovely green of our campus I amthrilled with the anticipation of what lies ahead. We have laid a solid foundation for agrowing business that has increased client relevance built real digital muscle ensuredstrong operating discipline and increased business model resilience. We also have agreater sense of stability and an aligned and driven management team eager to serve ourclients in a world where technology is becoming more and more critical. I can't imagine abetter place for us to be.
With my warmest regards.
| ||Salil Parekh |
|Bengaluru ||Chief Executive Officer and |
|May 102019 ||Managing Director |