Infosys Limited American Depositary Shares

And welcome to Infosys Limited Q4-FI25 earnings conference call. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star, then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Sandeep Mahindra. Thank you. And over to Mr. Mahindra.

Hello, everyone, and welcome to Infosys' earnings call for Q4 and FY25. Joining us on this earnings call is CEO and MD, Mr. Saral Parekh, CFO, Mr. Jayesh Sangrajka, and other members of the leadership team. We'll start the call with some remarks on the performance of the company, subsequent to which the call will be opened up for questions. Kindly note that anything we say which refers to our outlook for the future is a forward-looking statement that must be read in conjunction with the risks that the company faces. A full statement and explanation of these risks is available in our filing with the SEC, which can be found on www.sec.gov. I'd now like to pass on the call to Salil.

Thanks, Sandeep. Good evening and good morning to all of you. Thank you for joining us on this call. We had an excellent year in financial year 2025. Our revenues grew at 4.2% in constant currency terms. Our operating margin was 21.1%. we generated $4.1 billion in free cash flow, and we had $11.6 billion in large deals. In Q4, we had year-on-year growth of 4.8% and operating margin of 21%. We are seeing growing demand from clients to partner with them on AI. They're moving from a use case-based approach to an AI-led transformational approach with AI agents playing a critical role. We're working on AI projects by bringing Infosys Topaz generative and agent AI-powered services and solutions for their benefit. AI work spans a wide spectrum of priority areas like process improvement, engineering, customer service, cybersecurity, and employee productivity. We're helping a large U.S. financial services company navigate the AI transformation to deliver hyper-personalized conversational AI-powered customer experience with accuracy of over 80%. We're working with a Europe-based company to create a master solution driving multiple AI-first transformation projects that is automating 70% of the process landscape. We continue with a strategic expansion with acquisitions, one in energy consulting space in the US, one in cybersecurity in Australia. and with a new strategic partner joining a joint venture in Japan. All of these are areas of interest and strategic focus for the company. We have a set of capabilities that support our clients in their growth areas related to AI, cloud and digital, and in their efficiency areas related to automation, cost reduction, lean and consolidation. Based on what we are seeing in the environment today and building on a large deal wins in the past quarters, our guidance for growth for financial year 26 is 0% to 3% in constant currency terms. The environment is uncertain, and we will execute our plans with agility while keeping a close watch on events as they unfold. Our margin guidance for financial year 2026 20% to 22%. With that, let me pass it on to Jayesh for his views.