Infosys, We chose to redefine the industry

 Infosys Chairman, KV Kamath said that IT services were facing challenges of scalability. Speaking at the 31st Annual General Meeting of the company in Bangalore, Kamath said the management has met all the challenges successfully and demonstrated leadership. 

Infosys, India's second largest IT services company announced a final dividend of Rs 22/share. The company also announced a special dividend of Rs 10/share on account of the 10th year of operations of the Infosys BPO. 
Speaking at the AGM, S D Shibulal, CEO of Infosys said that transformation is complete and the company is now focussed on growth. "Infosys 3.0 will help company address challenges," said Shibulal. 

Shibulal said: "We had a choice between commoditization and re-defining the industry. We chose to redefine the industry." 

Stating that Infosys has 674 active clients, Shibulal said that clients are asking for higher value for work. He also said that recruiting high numbers of highly skilled people would be a challenge for the company. 

Shibulal announced that Infosys filed 143 unique patents last year. He also said that the company was hurt by allegations of alleged visa misuse. 

Kamath said that the previous year was hectic for the company and added that the global scenario was uncertain. 

On Friday, HSBC said that Infosys management has said banking and financial services remain "laggards" in the current quarter, while telecom, manufacturing, and healthcare and life sciences remain "weak." 

HSBC said Infosys earnings may come under pressure for the 2012-13 year, because of disadvantageous exchange rates between the US dollar vs the euro, the Australian dollar and the British pound. On the other hand, weaker rupee vs dollar would provide upside to earnings, HSBC said, adding management has told them "a large part" of the benefits would be shared with employees as bonuses or invested into initiatives