In his exit interview Shibulal says industry was in a difficult place when he took over and believes Infosys will take three years to return to earlier growth rates.
The purpose of the transition was to give incoming CEO Vishal Sikka a free platform.
SD Shibulal
MD & CEO
Infosys
In his exit interview Shibulal said industry was in a difficult place when he took over. Even the company went through a challenging time both externally as well as internally.
Also Read: Infosys Q1 net falls 3.5%, FY15 $ revenue to grow 7-9%
Shibulal had to handle the impact of Department of Justice investigation and employees litigation, besides the compliance overhaul. Infosys could not apply for enough visas due to the issues faced by the company. "Visa shortage led to increased onsite costs that hit margins," he said.
He, however, believes Infosys will take three years to return to earlier growth rates and disagrees with 'conservative' term for Infosys.
Shibulal feels the company needs to be responsible about cash on books and any acquisition has to be strategic in nature.
Attrition has been one of the major concerns for the company. But he feels that a 12-14 percent, including the involuntary ones, is a comfortable range of attrition.
Denying his early exit due to problems at Infosys, he said the purpose of the transition was to give incoming CEO Vishal Sikka a free platform. He said no founder other than NRN Murthy will play any role at Infosys. "Murthy will be there to advice as Chairman Emeritus," he added.
Speaking on the reports that he owns 700 homes, Shibulal said: "Most of my portfolio management is done by the home office. Advisors create sustainable platforms and ensure reasonable returns... But I have been told that real estate is an interesting category of wealth."
Infosys stock price
On July 18, 2014, at 14:15 hrs Infosys was quoting at Rs 3252.95, up Rs 9.65, or 0.30 percent. The 52-week high of the share was Rs 3847.20 and the 52-week low was Rs 2740.00.
The company's trailing 12-month (TTM) EPS was at Rs 185.71 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 17.52. The latest book value of the company is Rs 733.03 per share. At current value, the price-to-book value of the company is 4.44.
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