Stockrabit · Analysts
Questions across 6 calls

Keith Bachman

BMO Capital

Infosys Limited

Updates Infosys Limited has informed the Exchange regarding 'Transcripts of the press conference and earnings call conducted after the Meeting ofBoard of directors on April 23, 2026'. · 2026-04-23
External Document © 2026 Infosys Limited 20 Hi, thank you very much. I have two questions. The first question is related to pricing. And I wanted to understand the context of how pricing competitiveness has changed. And you started the answer on the last question and really A, is it more competitive today than it has been over the last couple years? But B, the spirit of the question is my understanding when some of your competitors are getting more aggressive on pricing, they are introducing cost curves associated with the deployment of AI that may have more uncertainty surrounding those cost curves because this is new technology. And we are I think everybody is trying to figure out what it can and cannot do at the current level. So, does that introduce incremental risk in how you are philosophically thinking about pricing, if you could just talk a little bit about pricing dynamics with the introduction of AI? And I do have a follow-up.
Okay, okay. Let me ask my second follow-up question. And it also speaks to or questions the growth algorithm. And I am trying to understand how the growth algorithm may change from a volume perspective given the AI efficiency gains on the supply side. And the way I think about it is, I have External Document © 2026 Infosys Limited 21 had this we have had this conversation before with one of your competitors, if you are trying to grow at 3% in the past years. You might have to grow volumes by 5% or 6% to get to 3% growth. And one of your competitors suggested that volume variance may need to double because of the efficiency gains to get to the same revenue growth trajectory. And I just wanted to see if you could think about how is the growth algorithm on a volume basis different today because of those AI efficiency gains as you look out over the next 12 months versus what the what it is been over the last couple years?
Infosys Limited CC-Apr26.pdf · 2026-04-23
External Document © 2026 Infosys Limited 20 Hi, thank you very much. I have two questions. The first question is related to pricing. And I wanted to understand the context of how pricing competitiveness has changed. And you started the answer on the last question and really A, is it more competitive today than it has been over the last couple years? But B, the spirit of the question is my understanding when some of your competitors are getting more aggressive on pricing, they are introducing cost curves associated with the deployment of AI that may have more uncertainty surrounding those cost curves because this is new technology. And we are I think everybody is trying to figure out what it can and cannot do at the current level. So, does that introduce incremental risk in how you are philosophically thinking about pricing, if you could just talk a little bit about pricing dynamics with the introduction of AI? And I do have a follow-up.
Okay, okay. Let me ask my second follow-up question. And it also speaks to or questions the growth algorithm. And I am trying to understand how the growth algorithm may change from a volume perspective given the AI efficiency gains on the supply side. And the way I think about it is, I have External Document © 2026 Infosys Limited 21 had this we have had this conversation before with one of your competitors, if you are trying to grow at 3% in the past years. You might have to grow volumes by 5% or 6% to get to 3% growth. And one of your competitors suggested that volume variance may need to double because of the efficiency gains to get to the same revenue growth trajectory. And I just wanted to see if you could think about how is the growth algorithm on a volume basis different today because of those AI efficiency gains as you look out over the next 12 months versus what the what it is been over the last couple years?
Updates Infosys Limited has informed the Exchange regarding 'Earnings Call Transcript'. · 2026-01-14
Yes. Thank you very much. Could you speak on how you anticipate revenue per employee changing over the next couple of years and the spirit of the question is driven by trying to better understand how you see Infosys in the industry. One of t he core value propositions has been managing people and growing in terms of managing agents instead of managing people?
External Document © 2026 Infosys Limited 16 Okay. And the second one is more micro - there's been some recent press reports about your relationship with Daimler in terms of maybe that moving away. Could you speak on anything you could comment on Daimler and/or is the Q4 guidance reflecting any attrition in contracts, large contracts? Or should we be thinking about if we look over the horizon into FY'27, should we be considering any major attrition from any major contracts? And that's it for me. Thank you.
Infosys Limited CC-Jan26.pdf · 2026-01-14
Yes. Thank you very much. Could you speak on how you anticipate revenue per employee changing over the next couple of years and the spirit of the question is driven by trying to better understand how you see Infosys in the industry. One of t he core value propositions has been managing people and growing in terms of managing agents instead of managing people?
External Document © 2026 Infosys Limited 16 Okay. And the second one is more micro - there's been some recent press reports about your relationship with Daimler in terms of maybe that moving away. Could you speak on anything you could comment on Daimler and/or is the Q4 guidance reflecting any attrition in contracts, large contracts? Or should we be thinking about if we look over the horizon into FY'27, should we be considering any major attrition from any major contracts? And that's it for me. Thank you.
Updates Infosys Limited has informed the Exchange regarding 'Earnings Call Transcript'. · 2025-01-16
Hi, thank you very much. My question is on cost to serve your clients. And what I mean by that is, how is AI changing your cost to serve today? And I am not talking about AI deals. I am talking about the broader or questioning the broader portfolio. And how do you envision that changing, say, a year from now?
Okay. Let me ask my follow-up related to that. Y ou called out SAP as being a strong area for you. And I think it is candidly strong for a number of di fferent vendors or suppliers. Presumably, Gen AI will help with deployments over time because there is a notion of software development as the SAP ECC customers migrate to the cloud. And so as that develops into more robust capabilities for Infosys, how does that change your pricing to the customers, say, a year from now for depl oyment of SAP work? Because if you are getting a benefit, presumably as the customers will want to share in that benefit. So how do you think, is it a source of deflation for you? Or how do you thin k that unfolds, particularly from the software development side?
Infosys Limited CC-Dec24.pdf · 2025-01-16
Hi, thank you very much. My question is on cost to serve your clients. And what I mean by that is, how is AI changing your cost to serve today? And I am not talking about AI deals. I am talking about the broader or questioning the broader portfolio. And how do you envision that changing, say, a year from now?
Okay. Let me ask my follow-up related to that. Y ou called out SAP as being a strong area for you. And I think it is candidly strong for a number of di fferent vendors or suppliers. Presumably, Gen AI will help with deployments over time because there is a notion of software development as the SAP ECC customers migrate to the cloud. And so as that develops into more robust capabilities for Infosys, how does that change your pricing to the customers, say, a year from now for depl oyment of SAP work? Because if you are getting a benefit, presumably as the customers will want to share in that benefit. So how do you think, is it a source of deflation for you? Or how do you thin k that unfolds, particularly from the software development side?