Infosys Appoints Ashiss Dash as CEO Designate

Date: July 28, 2026

Ashiss Dash appointed as CEO Designate to succeed Salil Parekh effective April 1, 2027
Dash has been with Infosys for 31 years, currently based in Los Angeles, will relocate to India
Transition plan includes CEO coaching for 2-3 months followed by mentorship under Salil Parekh from October 1, 2026
Dash has experience across delivery, sales, account management, and established Bhubaneswar development center

Q1 FY27 revenue: $5,082 million, growth of 2.4% YoY and 1% QoQ in constant currency
AI services revenue: 8.2% of total revenue, growing at double-digit rates QoQ for several quarters
Operating margin: 21.1%, improved 20 bps sequentially
Free cash flow: $955 million (116.5% of net profit)
EPS: ₹19.19, up 15% YoY in rupee terms
Large deals: $3.6 billion TCV with 61% net new
Headcount: Reduced by 500 employees (after adding 2,000 from acquisitions)
Attrition: 13% vs 12.6% in Q4
DSO: 63 days (reduced by 4 days sequentially)

Revised revenue growth guidance: 1.5% to 3% YoY in constant currency (from 1.5%-3.5%)
Operating margin guidance maintained: 20% to 22%
Guidance factors: 1.7% contribution from acquisitions, ~1% impact from European manufacturing client, 0.75%-1% impact from offshore shift
Financial Services and EURS segments expected to grow above company average
Effective tax rate guidance: 29% to 30%

AI Strategy: Strong traction across six growth areas (Hexagon strategy) - process AI, AI strategy and engineering, data for AI
80,000 employees working on coding tools (Claude Code, Codex) for clients
Plan to build 6,000 Frontier Engineers over next few years
Topaz Fabric platform enables clients to use multiple AI models while maintaining data sovereignty
Continued focus on vendor consolidation deals ($700 million net new business from consolidation)

Salary hikes planned for October 2026 (most employees) and January 2027 (senior employees)
Continued college hiring: 20,000 planned for FY27 (4,000 already recruited in Q1)
Acquisitions: Optimum Healthcare and Stratus contributed 1.1% to sequential growth
Continued focus on strategic acquisitions in Life Sciences, Healthcare, Insurance, and geographic expansion

Financial Services: Strong deal wins (~$1 billion net new TCV), cautious spending due to uncertainty
Manufacturing: Impacted by reduced spend from European client, grew ~1% despite headwinds
EURS: Strong growth adjusted for one-time client termination
Retail and CPG: Consumer spend remains muted, budgets tightly controlled
Communications: Challenging environment, discretionary spending scrutiny continues